Alcoa Net Swings to Loss, IHS Net Jumps 50%

Mukesh Buch
12 Jan, 2016
New York City

Alcoa net swung to a loss aluminium maker estimated global demand to rise in the year. IHS profit soared 50%. Team net tumbled 34% despite revenues soared 17%. VOXX International net and revenues declined.

[R]10:40 AM New York – Alcoa net swung to a loss aluminium maker estimated global demand to rise in the year. IHS profit soared 50%. Team net tumbled 34% despite revenues soared 17%. VOXX International net and revenues declined.[/R]

Tollbooth Index jumped 98.99 or 0.9% to 10,279.10.

Earnings Review

Alcoa Inc ((AA)) plunged 10% or 80 cents to $7.20 after the aluminium producer reported revenues in the fourth-quarter ending in December soared 7% from a year ago to $5.2 billion.

Net in the quarter swung to a loss of $500 million or 39 cents per diluted share compared to profit of $159 million or 11 cents per share from the same quarter last year.

Alcoa estimated global aluminium deficit of 1.2 million metric tons and global deficit of 2.8 million metric tons due to curtailments.

The aluminium producer also projected global aluminium demand in 2016 to jump 6% to 60.5 million metric tons from fiscal 2015 and total demand to double between 2010 and 2020.

IHS Inc ((IHS)) slipped 1.3% or $1.60 to $107.68 after the analytical information provider reported revenues in the fourth-quarter ending in November jumped 3% from a year ago to $555.7 million.

Net income in the quarter soared 50% to $90.5 million or $1.32 per diluted share compared to $60.1 million or 87 cents per share from the same quarter last year.

The company forecasted revenues in the year in the range of $2.30 billion to $2.38 billion and diluted earnings per share between $6 and $6.30.

Team, Inc ((TISI)) fell 25 cents to $27.79 after the specialty industrial services provider said revenues in the second-quarter ending in November soared 17% from a year ago to $280.9 million.

Net income in the quarter tumbled 33.9% to $11.5 million or 54 cents per diluted share compared to $17.4 million or 80 cents per share from the same quarter last year.

VOXX International Corporation ((VOXX)) rose 3 cents or $4.87 after the automobile parts and accessories maker stated revenues in the third-quarter ending in November declined 13.8% from a year ago to $192.5 million.

Net income in the quarter plunged 50% to $7.8 million or 32 cents per diluted share compared to $15.6 million or 64 cents per share from the same quarter last year.