9:16 am Joy Global Notably Lower This Morning Following Earnings/Guidance Results
Joy Global (JOY 42.14) fell sharply lower this morning after reporting fiscal year first quarter earnings results and issuing guidance. The stock is almost 3 pts lower pre-market, or -7%, at $39.27/share.
The company reported first quarter earnings of $0.25 per share, excluding non-recurring items, which easily missed expectations. On the top line, revenues fell 16.1% year/year to $703.9 million, which also missed expectations. The company reported first quarter bookings of $700 million, down …More