| Joy Global beats 2Q profit forecasts | |
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MILWAUKEE (AP) _ Joy Global Inc. (JOY) on Thursday reported fiscal second-quarter profit of $38.7 million.
The Milwaukee-based company said it had profit of 40 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to 59 cents per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The mining equipment manufacturer posted revenue of $810.5 million in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $840.7 million.
Joy Global expects full-year earnings in the range of $2.50 to $3 per share, with revenue in the range of $3.3 billion to $3.6 billion.
Joy Global shares have fallen 16 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has fallen 33 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JOY at http://www.zacks.com/ap/JOY
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Keywords: Joy Global, Earnings Report
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Joy Global is a exploration company based in United states of america. Joy Global is listed in United States of America. Its market capitalisation is US$ 1.2 billions as of today (€ 1.2 billions). Its stock quote reached its lowest recent point on February 12, 2016 at US$ 10.26, and its highest recent level on April 05, 2017 at US$ 28.30. Joy Global has 43 700 000 shares outstanding. |