Joy Global Inc. First Quarter Earnings Sneak Peek

The Cheat Sheet

Joy Global Inc. will unveil its latest earnings on Wednesday, February 29, 2012. 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.

Joy Global Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of $1.35 per share, a rise of 40.6% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from $1.33. Between one and three months ago, the average estimate moved up. It has dropped from $1.36 during the last month. Analysts are projecting profit to rise by 26% compared to last year’s $7.42.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported net income of $1.82 per share versus a mean estimate of profit of $1.85 per share. In the third quarter of the last fiscal year, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: Analysts predict a rise of 32.3% in revenue from the year-earlier quarter to $1.15 billion.

Analyst Ratings: Analysts are optimistic about this stock, with 10 analysts rating it as a buy, none rating it as a sell and seven rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 17.8% to $172.3 million ($1.62 a share) from $146.3 million ($1.39 a share) the year earlier, but fell short analyst expectations. Revenue rose 27.3% to $1.34 billion from $1.05 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 24.7%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 33.7% from the year earlier quarter.

The company has seen net income rise in three consecutive quarters. Net income rose 46.1% in the third quarter of the last fiscal year and 34.5% in the second quarter of the last fiscal year.

Stock Price Performance: Between December 23, 2011 and February 23, 2012, the stock price had risen $14.13 (18.3%), from $77.35 to $91.48. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 1, 2011, when shares rose for six straight days, increasing 12.1% (+$10.45) over that span. It saw one of its worst periods between July 29, 2011 and August 8, 2011 when shares fell for seven straight days, dropping 23.7% (-$22.13) over that span.

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

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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