=Joy Global (JOY) reported earnings on Wed 16 Dec 2015 (before open)

** charts before earnings **





 ** charts after earnings **

Joy Global reports EPS in-line, beats on revs; guides FY16 EPS below consensus, revs below consensus; cuts quarterly dividend to $0.01 from $0.20 prior :

• Reports Q4 (Oct) adj earnings of $0.43 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.43; revenues fell 23.6% year/year to $865.6 mln vs the $791.27 mln Capital IQ Consensus.
  • Oversupplied commodity markets drove customer capital expenditures down approximately 18 percent year-over-year
  • Fourth quarter bookings of $617 million, down 21 percent; full year bookings of $2.7 billion, down 25 percent from a year ago
• Co issues downside guidance for FY16, sees adj EPS of $0.10-0.50 vs. $1.10 Capital IQ Consensus Estimate; sees FY16 revs of $2.4-2.6 bln vs. $2.76 bln Capital IQ Consensus Estimate.
• Dividend: The company announced that its Board of Directors declared a dividend of $ 0.01 per share, which is a reduction from $0.20 per share.
  • If maintained, this action would reduce annual cash outlay by ~$75 million.