Friday, March 2, 2012

Investopedia: Joy Global Posts Solid Underlying Results

Investors didn't respond to Joy Global's (NYSE:JOY) fiscal first quarter results with a lot of enthusiasm, as acquisitions have yet to really reach full speed and the near-term outlook for coal isn't so good. Nevertheless, Joy's results were pretty solid relative to expectations and the company continues to be well-positioned for an ongoing expansion of global mining. Even with the reaction to the quarter, Joy stock is not especially cheap.

Go Below The Surface For Real Results  
Joy Global's underlying results in its fiscal first quarter were really no worse than "solid." Revenue rose 31% from last year, but did slide 15% sequentially. On an organic basis, growth was more on the order of 20% year on year and negative 22% sequentially.

Continue to Investopedia for the full piece:
http://stocks.investopedia.com/stock-analysis/2012/Joy-Global-Posts-Solid-Underlying-Results-JOY-CATTEX-KMTUY0302.aspx

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