Joy Global (NYSE: JOY) reported earnings on May 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended April 27 (Q2), Joy Global beat expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.
Margins dropped across the board.
Revenue details
Joy Global notched revenue of $1.54 billion. The 14 analysts polled by S&P Capital IQ wanted to see sales of $1.43 billion on the same basis. GAAP reported sales were 45% higher than the prior-year quarter's $1.06 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $2.04. The 15 earnings estimates compiled by S&P Capital IQ averaged $1.96 per share. GAAP EPS of $2.00 for Q2 were 32% higher than the prior-year quarter's $1.52 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 33.1%, 200 basis points worse than the prior-year quarter. Operating margin was 21.6%, 40 basis points worse than the prior-year quarter. Net margin was 13.9%, 130 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $1.47 billion. On the bottom line, the average EPS estimate is $1.99.
Next year's average estimate for revenue is $5.69 billion. The average EPS estimate is $7.52.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,594 members out of 1,631 rating the stock outperform, and 37 members rating it underperform. Among 341 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 329 give Joy Global a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Joy Global is outperform, with an average price target of $100.93.
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