Joy Global Beats on Both Top and Bottom Lines

Joy Global (NYSE: JOY  ) reported earnings on Feb. 27. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Jan. 25 (Q1), Joy Global beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share dropped slightly. GAAP earnings per share didn't move.

Gross margins grew, operating margins grew, net margins dropped.

Revenue details
Joy Global chalked up revenue of $1.15 billion. The 14 analysts polled by S&P Capital IQ foresaw sales of $1.08 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.31. The 21 earnings estimates compiled by S&P Capital IQ anticipated $1.16 per share. Non-GAAP EPS of $1.31 for Q1 were 1.5% lower than the prior-year quarter's $1.33 per share. GAAP EPS of $1.33 were the same as the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 32.8%, 80 basis points better than the prior-year quarter. Operating margin was 19.2%, 80 basis points better than the prior-year quarter. Net margin was 12.4%, 10 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.32 billion. On the bottom line, the average EPS estimate is $1.67.

Next year's average estimate for revenue is $5.07 billion. The average EPS estimate is $6.21.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,632 members out of 1,670 rating the stock outperform, and 38 members rating it underperform. Among 363 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 353 give Joy Global a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Joy Global is outperform, with an average price target of $73.20.

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