Joy Global Inc.’s JOY adjusted earnings of 54 cents per share in the third quarter of fiscal 2015 were down 32.5% from 80 cents per share a year ago. Earnings missed the Zacks Consensus Estimate of 60 cents by 10%. Joy Global Inc. - Earnings Surprise | FindTheBest GAAP earnings per share for the fiscal third quarter were 46 cents compared with 71 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to a 5 cent restricting charge, a 2 cent non-cash pension settlement, 2 cents for excess purchase accounting and a 1 cent tax benefit. Total Revenue Joy Global reported net sales of $792.1 million in the third quarter of fiscal 2015, down 9.6% from $875.7 million in the year-ago quarter. Revenues were also lower than the Zacks Consensus Estimate of $799 million by 0.9%. The downside was due to lower contributions from its Underground Mining Machinery and Surface Mining Equipment segments. Highlights of the Release Joy Global’s adjusted operating profit in the third quarter of fiscal 2015 declined 34.8% to $87.0 million from $133.4 million in the prior-year quarter. Total bookings during the fiscal third quarter were $635 million, down 31% year over year. Joy Global’s legacy underground business saw a 26% drop in orders while bookings at its surface businesses plummeted 33%. Total backlog at the end of the reported quarter was $1.12 billion, down from $1.33 billion... More