Joy Global News
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On September 4, 2014, Joy Global, Inc. reported Q3 2014 net income of $71.3 million on sales of $876 million compared to net income of $183.2 million on sales of $1.3 billion in the same period in the prior year. These numbers are based on a fully-diluted outstanding share count of 100.7 million in 2014 and 100.3 million in 2013.
Raymond James' target price would suggest a potential downside of 33.07% from the stock's previous close.
Joy Global Inc. reported third quarter fiscal 2014 results, with consolidated net sales totaling $876 million, a 34 percent decrease versus the third quarter of 2013. Joy Global Inc. reported third quarter fiscal 2014 results, with consolidated net sales totaling $876 million, a 34 percent decrease versus the third quarter of 2013.
Joy Global Inc., the world's largest maker of underground mining machinery, reduced the top end of its fiscal full-year profit forecast amid cutbacks in the U.S. coal industry and political unrest in Ukraine. Earnings excluding restructuring costs and other one-time expenses will be $3.15 to $3.30 a share in the year through October, compared with a previous prediction of $3.10 to $3.50, the Milwaukee-based company said today in a statement.
At this time, I would like to turn the conference over to Jim Sullivan, Executive Vice President and Chief Financial Officer. Please go ahead, sir.
Joy Global Inc. shares opened sharply lower Thursday after the mining equipment manufacturer cut its outlook and said second-quarter sales fell 34 percent. Chief Executive Edward Doheny II cited a litany of woes besieging the global mining industry, but added that "we are seeing signs that the trough in the market has been set."
WATCH: More market update videos on TheStreet TV Revenue for the quarter was $875.7 million, missing analysts consensus guidance of $932 million. The mining equipment manufacturer set full year earnings guidance between $3.15 to $3.30 per diluted share on revenue between $3.65 billion to $3.75 billion.
Joy Global announced its earnings results on Thursday. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.84 by $0.04, StockRatingsNetwork.com reports.
Updated: Wed Sep 10, 2014 03:50 am
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