Milwaukee, WI based Joy Global Inc. manufactures surface and underground mining equipment for extraction of coal, copper, iron ore, oil sands, gold and other mineral resources. The company also offers a wide range of value-added after-market services aimed at enhancing reliability and optimizing the work-life of machineries.
It has equipment manufacturing or sales and services facilities in more than 20 countries including the U.S., Canada, Brazil, Chile, South Africa, England, Poland, Russia, India and China. Joy Global now reports results in two segments: Underground Mining Machinery (UMM) and Surface Mining Equipment (SME). In fiscal years 2015, 2014 and 2013, nearly 68%, 69% and 72% of Joy Global’s respective sales, were derived from outside the United States.
Business conditions continue to be tough for Joy Global, primarily due to a slower-than-expected recovery in the global economy and a supply glut in the commodity markets. Joy Global expects to benefit from its cost-saving and restructuring initiatives.
Estimate Trend & Surprise History
Investors should note that the fiscal fourth quarter Zacks Consensus Estimate of 18 cents, is down 5.3% over the last 60 days.
Coming to the earnings surprise, Joy Global has missed the Zacks Consensus Estimate in two of the last four quarters, resulting in a negative average surprise of 63.93%.
Zacks Rank: Currently, Joy Global has a Zacks Rank #3 (Hold) but that could change following its fiscal fourth quarter 2016 earnings report, which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below.
Earnings: Joy Global’s adjusted earnings per share came in at 17 cents, missing the Zacks Consensus Estimate of 18 cents by 5.6%.
Revenue: Revenues of nearly $656.6 million topped the Zacks Consensus Estimate of $628 million by 4.6%.
Key Stats: Joy Global’s total backlog at the end of fiscal fourth quarter was $819 million down from $873 million at the beginning of the fiscal year.
Stock Price: It would be interesting to see how the market reacts to the fiscal fourth quarter results during the trading session today.
Check back later for our full write up on this JOY earnings report later!
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Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>
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Joy Global (JOY) Misses Q4 Earnings, Revenues Beat
Milwaukee, WI based Joy Global Inc. manufactures surface and underground mining equipment for extraction of coal, copper, iron ore, oil sands, gold and other mineral resources. The company also offers a wide range of value-added after-market services aimed at enhancing reliability and optimizing the work-life of machineries.
It has equipment manufacturing or sales and services facilities in more than 20 countries including the U.S., Canada, Brazil, Chile, South Africa, England, Poland, Russia, India and China. Joy Global now reports results in two segments: Underground Mining Machinery (UMM) and Surface Mining Equipment (SME). In fiscal years 2015, 2014 and 2013, nearly 68%, 69% and 72% of Joy Global’s respective sales, were derived from outside the United States.
Business conditions continue to be tough for Joy Global, primarily due to a slower-than-expected recovery in the global economy and a supply glut in the commodity markets. Joy Global expects to benefit from its cost-saving and restructuring initiatives.
Estimate Trend & Surprise History
Investors should note that the fiscal fourth quarter Zacks Consensus Estimate of 18 cents, is down 5.3% over the last 60 days.
Coming to the earnings surprise, Joy Global has missed the Zacks Consensus Estimate in two of the last four quarters, resulting in a negative average surprise of 63.93%.
JOY GLOBAL INC Price and EPS Surprise
JOY GLOBAL INC Price and EPS Surprise | JOY GLOBAL INC Quote
Zacks Rank: Currently, Joy Global has a Zacks Rank #3 (Hold) but that could change following its fiscal fourth quarter 2016 earnings report, which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below.
Earnings: Joy Global’s adjusted earnings per share came in at 17 cents, missing the Zacks Consensus Estimate of 18 cents by 5.6%.
Revenue: Revenues of nearly $656.6 million topped the Zacks Consensus Estimate of $628 million by 4.6%.
Key Stats: Joy Global’s total backlog at the end of fiscal fourth quarter was $819 million down from $873 million at the beginning of the fiscal year.
Stock Price: It would be interesting to see how the market reacts to the fiscal fourth quarter results during the trading session today.
Check back later for our full write up on this JOY earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>