Joy Global Inc. Earnings Cheat Sheet: Net Income and Revenue Rise

Joy Global Inc. (NASDAQ:JOY) reported its results for the most recent quarter. Joy Global is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores. The equipment is used in the mining regions globally to mine coal, copper, iron ore, oil sands, and other minerals.

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Joy Global Inc. Earnings Cheat Sheet

Results: Net income for the company rose 18% to $172.3 million ($1.61 per share) from $146.3 million or $1.39 a share a year earlier.

Revenue: Rose 27% to $1.34 billion from $1.05 billion a year earlier.

Actual vs. Wall St. Expectations: JOY fell short of the mean analyst estimate of $1.85 per share. Analysts were expecting revenue of $1.35 billion.

Quoting Management: “Our fourth quarter was a good finish to an exceptional year,” said Mike Sutherlin, President and Chief Executive Officer. “Bookings were strong as our customers continue to move ahead with mine expansion projects. Sales were up almost 18 percent from last year and exceptional operating leverage delivered margins of almost 23 percent, excluding the impact of acquisition related activities.”

Looking Forward: Over the past ninety days, the average estimate for the has fallen from $1.41 per share to $1.33, indicating that analysts are growing pessisimistic about the company’s performance next quarter. Over the past three months, the average estimate for the fiscal year has climbed from $5.86 per to share to $5.87.

Competitors to Watch: Bucyrus Intl., Inc. (NASDAQ:BUCY), Caterpillar (NYSE:CAT), Deere & Company (NYSE:DE), General Electric Company (NYSE:GE), Astec Industries, Inc. (NASDAQ:ASTE), Columbus McKinnon Corp. (NASDAQ:CMCO), Manitowoc Company, Inc. (NYSE:MTW), Cummins Inc. (NYSE:CMI), CNH Global N.V. (NYSE:CNH), Navistar Intl. Corp. (NYSE:NAV), Terex Corporation (NYSE:TEX), and Lindsay Corporation (NYSE:LNN).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)