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UPDATE: Joy Global Posts Upbeat FQ3 Profit

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Joy Global (NYSE: JOY) reported upbeat fiscal third-quarter earnings.

Joy Global's quarterly profit fell to $183.2 million, or $1.71 per share, from $193.5 million, or $1.81 per share, in the year-ago period. Excluding one-time items, its earnings declined to $1.70 per share from $1.87 per share.

Its sales declined 4.9% to $1.32 billion. However, analysts were expecting earnings of $1.37 per share on revenue of $1.18 billion.

Its operating margin shrank to 33.3% from 34.3%.

Joy Global shares gained 0.95% to $51.80 in pre-market trading.

Posted-In: profitEarnings News

 

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