Joy Global Inc. Earnings: Profits Climb By Double Figures Again

Google+ | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Joy Global Inc. (NASDAQ:JOY) reported its results for the fourth 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.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

Joy Global Inc. Earnings Cheat Sheet

Results: Net income for Joy Global Inc. rose to $212.6 million ($1.99 per share) vs. $172.3 million ($1.62 per share) in the same quarter a year earlier. This marks a rise of 23.3% from the year-earlier quarter.

Revenue: Rose 19.4% to $1.59 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Joy Global Inc. beat the mean analyst estimate of $1.90 per share. It beat the average revenue estimate of $1.43 billion.

Quoting Management: “Our entire organization did an outstanding job of catching up on deliveries and giving us an exceptional finish to fiscal 2012,” said Mike Sutherlin, President and Chief Executive Officer. “This strong execution will be important as we begin adjusting to the lower volumes that we expect for 2013. We are setting our plans for 2013 on the basis that current market conditions continue. Although there is upside potential in our markets, the timing is uncertain and unlikely to occur until current excess mine capacity is reduced.”

Key Stats:

For the past five quarters, the company has seen double-digit year-over-year percentage revenue growth. Over that span, the company has averaged growth of 28.9%, with the biggest boost coming in the second quarter when revenue rose 45% from the year earlier quarter.

The company has now seen its net income increase for three consecutive quarters. In the third quarter, net income rose 11.8% and in the second quarter, the figure rose 31.9%.

The company topped expectations last quarter after falling short of forecasts in the third quarter with net income of $1.79 versus a mean estimate of net income of $1.90 per share.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved up from $1.27 a share to $1.31 over the last ninety days. The average estimate hasn’t changed from $7.10 per share for the fiscal year.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

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

Don’t Miss These Additional Hot Stories:

Apple Chart of the Day: Enough to Scare Bears Away?

AIG: The End of an Era

How Private is Your Kid’s Mobile Usage?

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business