UPDATE: Joy Global Reports 46% Rise In FQ3 Profit, Raises Fiscal-Year Forecast

Loading...
Loading...
Joy Global Inc
JOYG
reported a 46% surge in its fiscal third-quarter profit and raised its forecast for the year. Joy Global's quarterly profit climbed to $173.1 million, or $1.62 per share, from $118.5 million, or $1.13 per share, in the year-ago period. Its sales surged 34% to $1.14 billion. However, analysts were expecting earnings of $1.51 per share on sales of $1.15 billion. Joy Global raised its outlook for fiscal-year earnings from continuing operations by $0.40 per share to a range of $5.70 to $6.00 per share. Analysts expected earnings of $5.70 per share. Cameron International Corp
CAM
agreed to buy LeTourneau Technologies Inc from Joy Global for around $375 million in cash. JOYG shares gained 0.01% to $82.55 in after-hours trading.
Posted In: EarningsNewsGuidanceConstruction & Farm Machinery & Heavy TrucksEarningsEnergyIndustrialsOil & Gas Equipment & Services
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...