Daily Journal masthead

Joy Global misses 3Q earnings and revenue expectations


MILWAUKEE — Joy Global Inc. (JOY) on Thursday reported fiscal third-quarter profit of $44.9 million.

The Milwaukee-based company said it had profit of 46 cents per share. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.

The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The mining equipment manufacturer posted revenue of $792.2 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $799.3 million.

Joy Global expects full-year earnings to be $1.80 per share, with revenue expected to be $3.1 billion.

Joy Global shares have dropped 52 percent since the beginning of the year, while the Standard & Poor's 500 index has declined slightly more than 5 percent. The stock has dropped 65 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JOY at http://www.zacks.com/ap/JOY


Keywords: Joy Global, Earnings Report

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.