Mining equipment company Joy Global (NYSE: JOY )
gave results recently, but the real news wasn't so much about what the
company said, it was about what the company didn't say. The earnings
report was positively received by the market, and investors in
competitors like Caterpillar (NYSE: CAT )
took heart from some of Joy Global's commentary. On the other hand,
most of the good news was stock specific, and the underlying end-demand
drivers for mining machinery still look weak in 2014. So what exactly
can Fools learn from the results?
What Joy Global said in its first-quarter results
The company raised the mid-point of guidance by issuing adjusted diluted EPS guidance of $3.10-$3.50 versus previous guidance of $3.00-$3.50. The bottom end of earnings guidance was raised, and management expects that margins will further improve in 2014.
The company raised the mid-point of guidance by issuing adjusted diluted EPS guidance of $3.10-$3.50 versus previous guidance of $3.00-$3.50. The bottom end of earnings guidance was raised, and management expects that margins will further improve in 2014.
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