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Joy Cuts Top End of Forecast on U.S. Coal Slump, Ukraine

Joy Global Inc., the world’s largest maker of underground mining machinery, reduced the top end of its fiscal full-year profit forecast amid cutbacks in the U.S. coal industry and political unrest in Ukraine.

Earnings excluding restructuring costs and other one-time expenses will be $3.15 to $3.30 a share in the year through October, compared with a previous prediction of $3.10 to $3.50, the Milwaukee-based company said today in a statement. The average of 20 analysts’ estimates compiled by Bloomberg was $3.23.