Earnings Review - Joy Global

LONDON, January 9, 2015 /PRNewswire/ --

Investor-Edge.com has issued free earnings review on Joy Global Inc. (NYSE: JOY). On December 17, 2014, the company reported its Q4 FY14 and full-year FY14 financial results (period ended October 31, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Joy Global Inc. (Joy Global). The company's net sales for Q4 FY14 and FY14 decreased 4% Y-o-Y and 25% Y-o-Y, respectively. Additionally, Joy Global's consolidated bookings for Q4 FY14 and FY14 shrunk 27% Y-o-Y and 8% Y-o-Y, respectively. President and CEO of Joy Global, Ted Doheny stated that the Company's full-year results were in line with expectations in what was one of the more challenging years in its recent history. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q4 FY14, Joy Global's total bookings stood at $782.49 million, compared to $1,076.08 million in Q4 FY13. The company's service orders during the reported quarter fell 9% Y-o-Y to $647.82 million, while the original equipment orders declined 63% Y-o-Y to $134.67 million. Joy Global's underground mining machinery bookings were down 36% Y-o-Y to $404.39 million in Q4 FY14. The company's surface mining equipment's bookings also fell 15% Y-o-Y to $401.48 million. For the reported quarter, Joy Global's net sales decreased to $1.13 billion from $1.18 billion in Q4 FY13. However, the company's net sales in Q4 FY14 outperformed Bloomberg analysts' forecasts of $1.05 billion. The free research on JOY can be downloaded as in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Joy%20Global&d=09-Jan-2015&s=JOY

In Q4 FY14, the company recorded net income of $136.94 million, or $1.38 per diluted share, much above reported net income of $26.83 million, or $0.25 per diluted share, in Q4 FY13. Analysts from Bloomberg had expected net income of $108.20 million, or $1.14 diluted per share, in Q4 FY14. The company reported income from continuing operations before unusual items and acquisition activities of $124.1 million, or $1.25 per diluted share, in Q4 FY14, above $117.8 million, or $1.11 per diluted share, in Q4 FY13.

In Q4 FY14, Joy Global reported net cash provided by operating activities of continuing operations of $65.12 million, compared to $195.40 million in Q4 FY13. During the reported quarter, Joy Global repurchased c.1.2 million shares of its common stock for $75 million.

Joy Global's total bookings for FY14 stood at $3.61 billion compared to $3.92 billion in FY13. The company's service orders during FY14 improved 2% Y-o-Y to $2.59 billion. However, the original equipment orders declined 26% Y-o-Y to $1.02 billion. In FY14, the company's underground mining machinery bookings shrunk 20% Y-o-Y to $1.84 billion. Whereas, the surface mining equipment's bookings for FY14 increased by 8% Y-o-Y to $1.92 billion. In FY14, Joy Global's net sales declined to $3.78 billion from $5.01 billion in FY13. The company's net sales in FY14 outperformed Bloomberg analysts' forecasts of $3.70 billion. Sign up and read the free analyst's notes on JOY at:

http://get.Investor-Edge.com/pdf/?c=Joy%20Global&d=09-Jan-2015&s=JOY

For FY14, Joy Global's net income stood at $331.04 million, or $3.28 per diluted share, compared to net income of $533.71 million, or $4.99 per diluted share, in FY13. Analysts from Bloomberg had expected net income of $305.00 million, or $3.04 diluted per share, in FY14. Additionally, the company reported income from continuing operations before unusual items and acquisition activities of $331.8 million, or $3.29 per diluted share in FY14, much below of $625.9 million, or $5.83 per diluted share, as reported in FY13.

During FY14, Joy Global reported cash flow from operating activities of $363.34 million compared to $636.85 million in FY13. In FY14, the company raised its dividend for the first time in five years, repurchased 4.7 million shares of its common stock for $269 million and acquired Mining Technologies International Inc.

Mr. Doheny stated that for FY15 the company is confident to deliver results, generate cash and continue to allocate capital resources in a disciplined manner so as to create long-term value for shareholders. He informed that the Company expects to report consolidated revenue in the range of $3.6 billion to $3.8 billion and fully diluted EPS, excluding restructuring and unusual items in the range of $3.10 to $3.50 for FY15. He added that the Company anticipates restructuring charges of c.$10 million in FY15. Visit Investor-Edge and access the latest research on JOY at:

http://get.Investor-Edge.com/pdf/?c=Joy%20Global&d=09-Jan-2015&s=JOY

Stock Performance  

On December 17, 2014, Joy Global's stock edged 0.20% higher, to end the session at $46.14. The stock has moved both ways since then with losses outweighing gains so far. On the last close, Thursday, January 08, 2014, the stock finished 2.60% higher at $44.14, after vacillating between $42.77 and $44.15. A total of 3.10 million shares were traded, which was much above its three months average volume of 1.52 million shares. Over the previous three sessions and over the last one month, Joy Global's shares have lost 2.86% and 12.02%, respectively. Further, the stock has declined 19.98% in the past one year. Shares in Joy Global closed below their 50-day and 200-day moving averages of $50.35 and $57.08, respectively.

Sneak Peek to Corporate Insider Trading 

In the last one month, Joy Global has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on JOY is available at:

http://get.Investor-Edge.com/pdf/?c=Joy%20Global&d=09-Jan-2015&s=JOY

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

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