-=Joy Global (JOY) reported earnings Thur 2 June 2016 (b/o)

Joy Global beats by $0.10, reports revs in-line; sees FY16 EPS and revs at lower end of prior guidance:

• Reports Q2 (Apr) earnings of $0.09 per share, $0.10 better than the Capital IQ Consensus of ($0.01); revenues fell 25.7% year/year to $602 mln vs the $605.64 mln Capital IQ Consensus.
  • Bookings $681 million, down 9 percent from a year ago
  • Equipment bookings $167 million, up 12 percent from a year ago
  • Service bookings $514 million, down 14 percent from a year ago
• Co issues revises guidance for FY16, sees EPS at low end of prior guidance of $0.10-0.50 vs. $0.20 Capital IQ Consensus Estimate; sees FY16 revs at low end of prior guidance of $2.4-2.6 bln vs. $2.46 bln Capital IQ Consensus Estimate.