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CHART 2:
[Manufacturing Profits Per Dollar of Sales]
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Manufacturing Corporations Seasonally adjusted after-tax profits of U.S. manufacturing corporations totaled $91.3 billion in the first quarter 2005, the U.S. Census Bureau reported. First quarter 2005 after-tax profits were not statistically different from the $92.5 billion recorded in the previous quarter. First quarter 2005 after-tax profits were up $14.8 (+/-1.2) billion from the $76.5 billion recorded in the same quarter a year ago.
Seasonally adjusted sales for these manufacturers totaled $1,294.2 billion for the quarter, not a statistically significant change from the $1,287.9 billion recorded in the fourth quarter 2004, and up $124.8 (+/-8.0) billion from the $1,169.4 billion recorded the year before.
After-tax profits averaged 7.1 cents per dollar of sales for the quarter, 7.2 cents last quarter (which is not a statistically significant change), and 6.5 cents a year ago.
Nondurable Goods Manufacturers Nondurable goods manufacturers' after-tax profits in the first quarter 2005 were $55.8 billion, up $4.6 (+/-0.8) billion from the $51.2 billion recorded in the previous quarter, and up $14.6 (+/-0.7) billion from the $41.2 billion in the first quarter 2004.
Seasonally adjusted sales for the quarter were $644.0 billion, up $14.3 (+/-6.2) billion from the $629.7 billion recorded in the prior quarter, and up $78.3 (+/-5.8) billion from the $565.7 billion in the first quarter 2004.
After-tax profits averaged 8.7 cents per dollar of sales for the quarter, 8.1 cents last quarter, and 7.3 cents a year ago.
Durable Goods Manufacturers First quarter 2005 seasonally adjusted after-tax profits for durable goods manufacturers were $35.5 billion, down $5.8 (+/-1.0) billion from the $41.3 billion recorded in the previous quarter, and were not statistically different from the $35.4 billion in the first quarter 2004.
Seasonally adjusted sales for the quarter were $650.2 billion, down $8.0 (+/-6.4) billion from the $658.2 billion recorded in the previous quarter, but up $46.6 (+/-6.1) billion from the $603.7 billion recorded in the first quarter 2004.
After-tax profits averaged 5.5 cents per dollar of sales for the quarter, 6.3 cents last quarter, and 5.9 cents a year ago.
Manufacturing Corporations First quarter 2005 unadjusted after-tax profits for U.S. manufacturing corporations were $89.9 billion, up $14.6 (+/-1.2) billion over the $75.3 billion recorded in the same quarter a year ago. This overall improvement was mainly due to higher operating profits and equity income. When compared to the fourth quarter 2004 after-tax profits of $88.8 billion, the first quarter 2005 after- tax profits were not statistically different.
Unadjusted sales for the first quarter 2005 were $1,272.2 billion, up $126.3 (+/-8.0) billion from the $1,145.9 billion in the same quarter a year ago, and down $16.4 (+/-8.4) billion from the prior quarter sales of $1,288.5 billion.
After-tax profits per dollar of sales averaged 7.1 cents this quarter, 6.9 cents last quarter, and 6.6 cents in the first quarter 2004.
Nondurable Goods Manufacturers First quarter 2005 nondurable goods manufacturers' unadjusted after-tax profits of $55.7 billion were up $14.7 (+/-0.7) billion from the $41.0 billion recorded in the first quarter 2004. When compared to this quarter last year, results were mixed within the industry categories. Petroleum and coal products reported an increase of $7.6 (+/-0.1) billion, mainly due to increased domestic and equity earnings. Chemical products also reported a substantial increase from pharmaceuticals' nonoperating income and lower nonrecurring charges, resulting in an overall increase in after-tax profits of $5.5 (+/-0.4) billion. The other nondurable industries reported minimal gains or not statistically significant changes.
Unadjusted sales for the first quarter 2005 were $629.7 billion, up $77.5 (+/-5.8) billion from the $552.3 billion in the same quarter a year ago, and not statistically different from the prior quarter sales of $626.9 billion.
After-tax profits per dollar of sales averaged 8.8 cents this quarter, 7.8 cents last quarter, and 7.4 cents in the first quarter 2004.
When compared to the fourth quarter 2004 after-tax profits of $49.0 billion, the first quarter 2005 after-tax profits were up $6.7 (+/-0.8) billion. Chemical products reported an increase in after-tax profits of $6.2 (+/-0.4) billion, mainly due to domestic and equity earnings, slightly offset by nonrecurring charges this quarter. Petroleum and coal products' improved equity earnings were offset by the relatively level domestic operating profits, decreased nonrecurring gains, and high dividend income of last quarter. The result was an overall decrease of $1.2 (+/-0.1) billion in after-tax profits.
Durable Goods Manufacturers First quarter 2005 durable goods manufacturers' unadjusted after- tax profits of $34.2 billion were not statistically different from the $34.3 billion recorded in the first quarter 2004. When compared to this quarter last year, results were mixed within the industry categories. Nonmetallic mineral products' small operating profits increase were offset by the nonrecurring charges this quarter, resulting in decreased profits of $3.1 (+/-0.1) billion. Transportation equipment's operating profits declined, resulting in an overall decrease of $2.8 (+/-0.3) billion. Primary metal industries reported improvements in operating profits, gaining $1.8 (+/-0.2) billion. Machinery products reported improvements in operating profits and equity income, gaining $1.2 (+/-0.3) billion. Electrical equipment and appliances made improvements in equity income, gaining $1.1 (+/-0.2) billion.
Unadjusted sales for the first quarter 2005 were $642.5 billion, up $48.8 (+/-6.1) billion from the $593.6 billion in the same quarter a year ago, but down $19.2 (+/-6.4) billion from the prior quarter sales of $661.6 billion.
After-tax profits per dollar of sales averaged 5.3 cents this quarter, 6.0 cents last quarter, and 5.8 cents in the first quarter 2004.
When compared to the fourth quarter 2004 after-tax profits of $39.8 billion, the first quarter 2005 after-tax profits were down $5.6 (+/-1.0) billion. Results were mixed within the industry categories. Nonmetallic mineral products' high nonrecurring charges this quarter dominated the picture and resulted in decreased profits of $4.0 (+/-0.1) billion. Computer and electronic products also reported a decrease, $2.9 (+/-0.5) billion, mainly from domestic income. Electrical equipment and appliances reported a decrease in domestic operating and a slight increase in equity earnings, which resulted in an after-tax profit decrease of $1.5 (+/-0.3) billion. Fabricated metal products and transportation equipment showed slightly increased profits this quarter.
Mining Corporations First quarter 2005 unadjusted after-tax profits for mining corporations with assets of $50 million and over, at $7.1 billion, were up $2.3 (+/-0.1) billion from the $4.8 billion recorded in the first quarter 2004.
Unadjusted sales for the first quarter 2005 were $33.7 billion, up $5.4 (+/-0.2) billion from the $28.4 billion in the same quarter a year ago.
After-tax profits per dollar of sales averaged 21.0 cents this quarter, compared to the 16.9 cents in the first quarter 2004.
Wholesale Trade Corporations First quarter 2005 unadjusted after-tax profits for wholesale trade corporations with assets of $50 million and over, at $7.4 billion, were up $0.4 (+/-0.2) billion from the $7.0 billion recorded in the first quarter 2004.
Unadjusted sales for the first quarter 2005 were $393.4 billion, up $43.2 (+/-5.5) billion from the $350.2 billion in the same quarter a year ago.
After-tax profits per dollar of sales averaged 1.9 cents this quarter, compared to the 2.0 cents in the first quarter 2004 (which is not a statistically significant change).
First quarter 2005 advance data for U.S. Retail Corporations are scheduled for release on July 12, 2005.
Second quarter 2005 advance data for U.S Manufacturing, Mining, Wholesale
Trade Corporations are scheduled for release on September 12, 2005, for U.S.
Retail Corporations, October 12, 2005.
The complete report, Quarterly Financial Report for Manufacturing,
Mining and Trade Corporations, is available for download,
under "Products: Publication", at
<http://www.census.gov/csd/qfr/>.
This press release is available in
page image format (.pdf).
This press release is available on the day of issue on the
Internet (http://www.census.gov/csd/www/qfr.html).
Questions regarding this report (or program) should be directed to
Yolando St.George (301) 763-6600 or John Seabold (301) 763-3386.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-05-1, June 2005.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-05-1, June 2005.
(2)Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-05-1, June 2005.
(2)Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-05-1, June 2005.
(2)Revised.
(3)Manufacturing data are the quarterly results of companies within that
division with assets over $250,000; whereas, data for mining and trade
corporations represent the quarterly results of companies with assets
over $50 million.
(4)Included in major industry above.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-05-1, June 2005.
(2)Revised.
(3)Manufacturing data are the quarterly results of companies within that
division with assets over $250,000; whereas, data for mining and trade
corporations represent the quarterly results of companies with assets
over $50 million.
(4)Included in major industry above.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-05-1, June 2005.
(2)Revised.
(3)Manufacturing data are the quarterly results of companies within that
division with assets over $250,000; whereas, data for mining and trade
corporations represent the quarterly results of companies with assets
over $50 million.
(4)Included in major industry above.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-05-1, June 2005.
Schedule of Advance Data Release Dates--2005
Questions concerning this advance report should be directed to
Contact:
Yolando St.George (301) 763-6600 or
John Seabold (301) 763-3386.
AVAILABILITY:
Seasonally Adjusted
1Q 4Q 1Q
2005 2004(1) 2004(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 7.1 7.2 6.5
Percent on equity (annual rate) .......... N/A N/A N/A
(million dollars)
Sales ....................................1,294,227 1,287,894 1,169,384
Income after income taxes ................ 91,334 92,519 76,545
Dividends paid (cash) .................... N/A N/A N/A
(1)Revised.
Unadjusted
1Q 4Q 1Q
2005 2004(1) 2004(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 7.1 6.9 6.6
Percent on equity (annual rate) .......... 15.6 15.5 14.2
(million dollars)
Sales ....................................1,272,165 1,288,516 1,145,872
Income after income taxes ................ 89,860 88,781 75,252
Dividends paid (cash) .................... 45,524 40,341 32,942
(1)Revised.
Sales(2)
Industry Group and Year Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1995 .......................... 871,145 872,944 883,423 900,008
1996 .......................... 914,077 932,556 948,065 961,940
1997 .......................... 965,703 971,961 986,245 996,351
1998 .......................... 989,678 981,183 985,283 995,056
1999 ..........................1,002,868 1,025,849 1,047,274 1,073,354
2000 ..........................1,120,026 1,126,946 1,144,834 1,122,751
2001 ..........................1,114,664 1,092,414 1,059,896 1,030,204
2002 ..........................1,022,072 1,048,542 1,066,292 1,080,493
2003 ..........................1,094,648 1,075,404 1,107,067 1,118,124
2004 ..........................1,169,384 1,228,486 1,249,180 1,287,894
2005 ..........................1,294,227
All nondurable manufacturing:
1995 .......................... 425,444 427,597 430,799 436,292
1996 .......................... 442,014 452,168 457,596 463,653
1997 .......................... 463,053 456,101 460,975 464,608
1998 .......................... 452,098 445,594 443,063 441,144
1999 .......................... 445,425 452,269 460,489 476,847
2000 .......................... 507,003 513,826 527,411 505,501
2001 .......................... 507,912 504,661 489,118 473,241
2002 .......................... 462,527 476,834 498,570 518,572
2003 .......................... 537,331 512,315 534,995 530,095
2004 .......................... 565,731 590,827 607,350 629,734
2005 .......................... 644,016
All durable manufacturing:
1995 .......................... 445,700 445,347 452,624 463,716
1996........................... 472,062 480,388 490,468 498,286
1997 .......................... 502,649 515,860 525,270 531,743
1998 .......................... 537,580 535,589 542,220 553,912
1999 .......................... 557,442 573,580 586,785 596,507
2000 .......................... 613,023 613,119 617,423 617,250
2001 .......................... 606,751 587,753 570,778 556,963
2002 .......................... 559,545 571,707 567,722 561,921
2003 .......................... 557,317 563,089 572,072 588,029
2004 .......................... 603,653 637,659 641,830 658,161
2005 .......................... 650,211
(1) Data after fourth quarter 2000 are presented on the North American Industry Classificaton System
basis. Data prior to fourth quarter 2000 are presented on the Standard Industrial Classification system basis.
Comparisons of these data are useful only for trend analysis.
After-Tax Profits(2)
Industry Group and Year Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1995 .......................... 52,820 51,866 49,426 44,185
1996 .......................... 51,271 53,839 61,293 58,689
1997 .......................... 60,822 61,703 61,945 60,256
1998 .......................... 74,837 48,897 61,267 49,618
1999 .......................... 60,104 63,133 67,276 67,409
2000 .......................... 77,637 70,654 74,801 47,081
2001 .......................... 474 15,808 12,198 7,558
2002 .......................... 25,598 37,868 42,631 33,827
2003 .......................... 59,304 49,778 54,972 72,646
2004 .......................... 76,545 87,264 92,208 92,519
2005 .......................... 91,334
All nondurable manufacturing:
1995 .......................... 25,872 28,195 27,592 22,251
1996 .......................... 28,024 28,311 32,132 30,450
1997 .......................... 33,381 30,677 30,548 28,695
1998 .......................... 29,763 28,454 30,960 17,563
1999 .......................... 26,506 28,724 31,640 30,686
2000 .......................... 37,584 38,244 37,596 28,962
2001 .......................... 31,832 33,640 27,599 19,219
2002 .......................... 26,945 28,409 31,499 31,718
2003 .......................... 43,848 33,545 30,324 41,104
2004 .......................... 41,178 46,963 52,636 51,241
2005 .......................... 55,809
All durable manufacturing:
1995 .......................... 26,948 23,671 21,834 21,934
1996 .......................... 23,248 25,528 29,161 28,239
1997 .......................... 27,441 31,026 31,397 31,560
1998 .......................... 45,074 20,444 30,307 32,055
1999 .......................... 33,597 34,409 35,636 36,723
2000 .......................... 40,053 32,410 37,205 18,119
2001 .......................... (31,357) (17,832) (15,401) (11,661)
2002 .......................... (1,348) 9,459 11,132 2,109
2003 .......................... 15,455 16,233 24,648 31,541
2004 .......................... 35,367 40,301 39,572 41,278
2005 .......................... 35,525
(1) Data after fourth quarter 2000 are presented on the North American Industry Classificaton System
basis. Data prior to fourth quarter 2000 are presented on the Standard Industrial Classification system basis.
Comparisons of these data are useful only for trend analysis.
Sales
1Q 4Q 1Q
Industry Group 2005 2004(2) 2004(2)
(million dollars)
All manufacturing corporations(3)..........1,272,165 1,288,516 1,145,872
All nondurable goods....................... 629,712 626,909 552,259
Food..................................... 106,619 108,885 97,422
Beverage and tobbaco products............ 33,912 34,478 32,027
Textiles mills and textile product mills. 12,344 12,218 12,063
Apparel and leather products............. 21,163 22,383 18,558
Paper ................................... 36,597 37,369 37,889
Printing and related support activities.. 17,371 17,802 16,565
Petroleum and coal products.............. 209,357 208,130 168,023
Chemicals ............................... 155,140 149,499 136,668
Basic chemicals, resins, and
synthetics(4).......................... 49,271 44,734 41,366
Pharmaceuticals and medicines(4)........ 64,395 64,278 57,083
All other chemicals(4).................. 41,474 40,487 38,218
Plastics and rubber products............. 37,209 36,144 33,044
All durable manufacturing.................. 642,453 661,607 593,612
Wood products............................ 18,684 18,820 17,121
Nonmetallic mineral products............. 23,510 25,288 19,885
Primary metals........................... 46,494 43,694 37,986
Iron, steel, and ferroalloys(4)......... 24,490 23,275 18,132
Nonferrous metals(4).................... 17,370 16,078 15,717
Foundries(4)............................ 4,634 4,341 4,136
Fabricated metal products................ 56,911 57,750 53,157
Machinery ............................... 70,884 72,171 58,985
Computer and electronic products......... 131,903 138,331 121,893
Computer and peripheral equipment(4).... 40,807 44,508 37,797
Communications equipment(4)............. 26,785 27,579 22,570
All other electronic products(4)........ 64,310 66,243 61,526
Electrical equipment, appliances and
components.............................. 49,004 52,980 45,556
Transportation equipment ................ 199,886 207,587 198,723
Motor vehicles and parts(4)............. 143,080 148,888 145,410
Aerospace products and parts(4)......... 46,144 48,820 43,964
Furniture and related products........... 14,883 15,066 13,857
Miscellaneous manufacturing.............. 30,293 29,920 26,448
All mining(3).............................. 33,724 33,421 28,361
All wholesale trade(3)..................... 393,371 402,068 350,167
All retail trade(3)........................ N/A 453,994 394,605
(1)Operating profits are profits before nonoperating income
and expense items and income taxes.
Operating Profits(1)
1Q 4Q 1Q
Industry Group 2005 2004(2) 2004(2)
(million dollars)
All manufacturing corporations(3).......... 82,727 76,392 70,389
All nondurable goods....................... 49,843 43,263 41,990
Food..................................... 6,528 7,245 6,157
Beverage and tobbaco products............ 5,572 4,888 5,150
Textiles mills and textile product mills. 532 321 338
Apparel and leather products............. 1,996 2,103 1,427
Paper ................................... 2,276 1,522 1,883
Printing and related support activities.. 1,124 1,054 1,311
Petroleum and coal products.............. 15,412 16,354 10,854
Chemicals ............................... 14,508 8,359 13,157
Basic chemicals, resins, and
synthetics(4).......................... 2,789 383 1,577
Pharmaceuticals and medicines(4)........ 7,921 5,096 7,582
All other chemicals(4).................. 3,798 2,879 3,998
Plastics and rubber products............. 1,896 1,418 1,664
All durable manufacturing.................. 32,884 33,129 28,399
Wood products............................ 1,158 987 1,338
Nonmetallic mineral products............. 1,506 1,919 434
Primary metals........................... 4,537 3,450 1,997
Iron, steel, and ferroalloys(4)......... 2,836 2,647 789
Nonferrous metals(4).................... 1,333 825 951
Foundries(4)............................ 369 (21) 257
Fabricated metal products................ 4,733 3,525 4,066
Machinery ............................... 4,757 3,681 3,324
Computer and electronic products......... 5,364 8,109 5,032
Computer and peripheral equipment(4).... (117) 1,846 (604)
Communications equipment(4)............. 498 880 851
All other electronic products(4)........ 4,982 5,382 4,785
Electrical equipment, appliances and
components.............................. 3,048 4,254 2,380
Transportation equipment ................ 2,885 2,912 6,246
Motor vehicles and parts(4)............. (1,553) (1,250) 2,320
Aerospace products and parts(4)......... 3,300 3,238 3,023
Furniture and related products........... 1,049 740 731
Miscellaneous manufacturing.............. 3,849 3,552 2,852
All mining(3).............................. 8,220 7,931 5,572
All wholesale trade(3)..................... 11,112 12,042 9,897
All retail trade(3)........................ NA 25,110 18,738
(1)Operating profits are profits before nonoperating income
and expense items and income taxes.
After-Tax Profits
1Q 4Q 1Q
Industry Group 2005 2004(2) 2004(2)
(million dollars)
All manufacturing corporations(3).......... 89,860 88,781 75,252
All nondurable goods....................... 55,701 49,017 40,999
Food..................................... 5,211 5,335 4,739
Beverage and tobbaco products............ 5,421 4,619 5,116
Textiles mills and textile product mills. 316 114 96
Apparel and leather products............. 1,564 1,558 1,043
Paper ................................... 1,163 447 1,077
Printing and related support activities.. 540 465 779
Petroleum and coal products.............. 21,213 22,420 13,624
Chemicals ............................... 19,215 13,050 13,687
Basic chemicals, resins, and
synthetics(4).......................... 2,752 896 1,569
Pharmaceuticals and medicines(4)........ 13,138 4,661 8,596
All other chemicals(4).................. 3,325 7,493 3,521
Plastics and rubber products............. 1,058 1,011 839
All durable manufacturing.................. 34,158 39,764 34,253
Wood products............................ 686 550 866
Nonmetallic mineral products............. (3,044) 990 91
Primary metals........................... 3,618 3,605 1,832
Iron, steel, and ferroalloys(4)......... 2,096 2,232 583
Nonferrous metals(4).................... 1,240 1,477 1,116
Foundries(4)............................ 281 (105) 133
Fabricated metal products................ 3,431 2,317 2,962
Machinery ............................... 3,585 3,130 2,337
Computer and electronic products......... 10,953 13,862 10,914
Computer and peripheral equipment(4).... 4,015 6,572 2,739
Communications equipment(4)............. 2,244 2,306 2,466
All other electronic products(4)........ 4,694 4,984 5,709
Electrical equipment, appliances and
components.............................. 5,559 7,068 4,469
Transportation equipment ................ 5,163 4,669 7,938
Motor vehicles and parts(4)............. 1,578 1,901 5,031
Aerospace products and parts(4)......... 2,716 2,190 2,273
Furniture and related products........... 713 389 399
Miscellaneous manufacturing.............. 3,494 3,184 2,445
All mining(3).............................. 7,087 7,054 4,800
All wholesale trade(3)..................... 7,444 8,282 7,048
All retail trade(3)........................ NA 16,763 11,429
(1)Operating profits are profits before nonoperating income
and expense items and income taxes.
ORDER & RELEASE INFORMATION
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
First 2005 July 12, 2005
Second 2005 September 12, 2005 October 12, 2005
Third 2005 December 12, 2005
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