Earnings: TSMC Rises 8% With a 54% Profit Increase; Nokia Drops 6% After a Sales Decline; Alcoa Climbs 5%; CSX Falls 4%
17 Outubro 2024 - 7:33AM
IH Market News
Taiwan Semiconductor Manufacturing Co
(NYSE:TSM) – TSMC reported net income of T$ 325.3 billion ($10.11
billion) in the third quarter, up 54%, exceeding the T$ 300.2
billion estimate. Revenue reached US$23.5 billion, up 36%,
surpassing the forecast of $22.4 billion to $23.2 billion. Capital
expenditure was $6.4 billion, compared to US$ 6.36 billion in Q2.
For Q4, the company estimates revenue between $26.1 billion and
$26.9 billion and expects capital expenditures of just over $30
billion in 2024, in line with previous expectations. The stock, up
more than 70% year-to-date, rose 7.6% pre-market.
Nokia (NYSE:NOK) – Nokia reported a 9% increase
in Q3 operating profit, with earnings before interest and taxes
(EBIT) rising to $492.73 million (€454 million), exceeding analyst
expectations of €424 million. Despite growth in several areas, some
divisions still face market weakness. Net sales fell 8% to $4.70
billion (€4.33 billion), below the €4.76 billion estimate due to
weak sales in India. The company maintained its annual profit
forecast between €2.3 billion and €2.9 billion. Shares fell 6% in
pre-market trading after closing 1.1% higher on Wednesday.
Alcoa (NYSE:AA) – The global aluminum and
bauxite producer reported earnings per share of $0.38, with
adjusted net income of $0.57 per share. Adjusted EBITDA was $455
million. The acquisition of Alumina contributed to sequential
growth, despite a 4% drop in alumina production. Future projections
remain strong, with a focus on strategic partnerships. Shares rose
5.1% in pre-market trading after closing 1.9% higher on
Wednesday.
CSX (NASDAQ:CSX) – The U.S. rail operator
reported Q3 2024 earnings per share of $0.46, up from $0.41 a year
earlier, but below the expected $0.48. Revenue of $3.62 billion was
up 1%, driven by merchandise and intermodal volumes. Operating
margin increased to 37.4%. However, coal revenue and fuel
surcharges declined due to lower coal demand and operational
challenges. CSX forecast a “more challenging” Q4 due to lower fuel
prices, weak coal demand, and the impact of two major hurricanes in
the U.S. Southeast. CSX expects a $200 million sales loss and
declining margins. Shares fell 4% pre-market after closing down
0.1% on Wednesday.
Kinder Morgan (NYSE:KMI) – The energy
infrastructure company reported adjusted earnings of 25 cents per
share, below the expectation of 27 cents. Revenue was $3.699
billion, below the projection of $4.123 billion. Net income reached
$625 million, while adjusted EBITDA was $1.880 billion, up 2%. Free
cash flow totaled $0.6 billion. Kinder Morgan lowered its annual
forecast due to lower commodity prices and smaller crude oil
volumes. Shares fell 1.9% in pre-market trading after closing 0.7%
higher on Wednesday.
PPG Industries (NYSE:PPG) – The paint and
coatings manufacturer reported Q3 earnings per share of $2.13,
below the estimate of $2.15. Revenue was $4.58 billion, missing the
projection of $4.67 billion. Declining industrial coatings sales,
particularly in the automotive sector, impacted results. However,
the performance coatings segment saw growth, led by aerospace
coatings.
Steel Dynamics (NASDAQ:STLD) – The U.S. steel
producer reported Q3 revenue of $4.34 billion, exceeding the
estimate of $4.177 billion. Earnings per share were $2.05, above
the projection of $1.97. The company noted steady steel demand and
expects price recovery and new gains in 2025, with new coating and
aluminum rolling operations.
Rexford Industrial (NYSE:REXR) – The
California-focused industrial real estate company reported net
income of $65.1 million ($0.30 per share), up from $56.3 million a
year earlier. FFO increased 13.1%, reaching $130 million, with
$0.59 per share. Revenue totaled $241.8 million, beating the
$227.67 million projection.
Equifax (NYSE:EFX) – The credit information
services company reported Q3 2024 revenue of $1.442 billion,
slightly below the estimate of $1.443 billion. Net income was
$141.3 million, with an EPS of $1.13, down from $1.31 a year
earlier. The company expects future growth based on its
verification solutions and international expansion. However,
Equifax projected annual revenue below Wall Street forecasts due to
the impact of high interest rates on loan demand, especially
mortgages. The company expects annual revenue between $5.70 billion
and $5.72 billion, below the $5.74 billion expectations.
First Industrial Realty Trust (NYSE:FR) – The
U.S. industrial real estate company reported funds from operations
of $92.3 million, or $0.68 per share, surpassing the estimate of
$0.67. Net income was $99.4 million ($0.75 per share), with revenue
of $167.6 million, above the $166.8 million projection.
Discover Financial Services (NYSE:DFS) – The
financial services provider reported Q3 2024 net income of $965
million, up 41% from the previous year. Earnings per share were
$3.69, beating the estimate of $3.07. Total revenue was $4.453
billion, above the forecast of $4.175 billion, with 10%
year-over-year growth.
Synovus Financial Corp. (NYSE:SNV) – The
regional bank and diversified financial services provider reported
Q3 2024 earnings per share of $1.18, up from $0.60 a year earlier.
Adjusted diluted EPS was $1.23. Pre-provision net revenue grew 28%,
reaching $251 million. The credit loss provision dropped 68%. Core
deposits increased by $294.6 million.
Netflix (NASDAQ:NFLX) – The company is set to
release its Q3 earnings on October 17, with high expectations.
According to FactSet, Netflix is expected to post adjusted earnings
of $5.12 per share, compared to $3.73 last year, and revenue of
$9.77 billion, up from $8.54 billion. The subscriber count is
projected to reach 281.5 million, up from 247.2 million last
year.
Nokia (NYSE:NOK)
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