Joy Global (JOY) Tops Q1 EPS by 3c

Joy Global (NYSE: JOY) reported Q1 EPS of ($0.06), $0.03 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $498 million versus the consensus estimate of $511.7 million.

"Over the last several months we have seen further evidence of commodity markets rebalancing, which has helped improve commodity pricing," said Ted Doheny, President and Chief Executive Officer. "These pricing improvements and increased production levels have strengthened cash flows for many mining companies. This has led to increased rebuild activity in what is typically a seasonally slower fiscal first quarter. While we are encouraged by recent market developments, the level of service bookings achieved in the first quarter is not expected to repeat over the remainder of the year. The mining industry remains cautious with overall capital expenditures still projected to decline in 2017."

For earnings history and earnings-related data on Joy Global (JOY) click here.

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