On Thursday, Aug. 31, mining equipment specialist Joy Global
- If the results look too good to be true, try backing out an unexpected tax reversal of $111 million, or $0.90 per diluted share, from reported earnings. That puts the earnings at $0.63 per diluted share -- more realistic, but still impressive.
- Margins did not need the tax boost in order to look good; the rose nicely across the board.
- More proof of solid results comes from strong cash flows.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|---|
|
Sales |
$613 |
$599 |
$513 |
16.7% |
|
Net Profit |
-- |
$189 |
$31 |
512.6% |
|
EPS |
$0.58 |
$1.53 |
$0.25 |
512% |
|
Diluted Shares |
123 |
123 |
(0.4%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
31.55% |
28.31% |
3.24 |
|
Operating Margin |
18.32% |
14.09% |
4.23 |
|
Net Margin |
31.50% |
6.00% |
25.5 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$102 |
$70 |
46.2% |
|
Accounts Rec. |
$418 |
$314 |
33% |
|
Inventory |
$623 |
$539 |
15.6% |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$340 |
$311 |
9.5% |
|
Long-Term Debt |
$77 |
$27 |
183.5% |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Cash from Ops. |
$51 |
$8 |
538.3% |
|
Capital Expenditures |
$8 |
$10 |
(17.4%) |
|
Free Cash Flow |
$43 |
($2) |
N/A |
Find out why Fools always follow the money.
Related Companies:
-
Caterpillar
(NYSE:CAT) -
Metso
(NYSE:MX) -
Bucyrus International
(NASDAQ:BUCY) -
Terex
(NYSE:TEX) -
Mitsui
(NASDAQ:MITSY) -
CONSOL Energy
(NYSE:CNX)
Related Foolishness:
- Foolish Fundamentals: Margins
- Foolish Fundamentals: Free Cash Flow
- Foolish Fundamentals: The Income Statement
- Foolish Fundamentals: The Cash Flow Statement
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. Or sign up for a 30-day free trial of any of our newsletters byclicking here.
At the time of publication, Fool contributor Anders Bylund had no position in any company mentioned. Fool rules are here .
