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.
