The mining equipment industry is in a cyclical rough patch. This is not news; we've heard similar information from Caterpillar (NYSE:CAT) and Atlas Copco (OTCPK:ATLKY) among others, and the signs of a slowdown at Joy Global (NYSE:JOY) have been apparent for some time. With the magnitude and timing of a significant recovery both key unknowns, one of the critical factors for Joy Global in the interim will be solid operating performance. News has been encouraging on that front, but investors have to be pretty bullish on the long-term outlook for the mining sector to see major value in Joy Global shares today.
Although Not Strong, Joy Global's Results Were Good Where It Mattered
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