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[Manufacturing Profits Per Dollar of Sales]
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Manufacturing Corporations Seasonally adjusted after-tax profits of U.S. manufacturing corporations totaled $104.7 billion in the third quarter 2005, the U.S. Census Bureau reported. Third quarter 2005 after-tax profits were up $6.6 (+/-1.3) billion from the $98.1 billion recorded in the previous quarter. Third quarter 2005 after-tax profits were up $13.3 (+/-1.2) billion from the $91.4 billion recorded in the same quarter a year ago.
Seasonally adjusted sales for these manufacturers totaled $1,407.2 billion for the quarter, up $57.3 (+/-9.2) billion from the $1,349.9 billion recorded in the second quarter 2005, and up $159.1 (+/-8.8) billion from the $1,248.1 billion recorded in the third quarter 2004.
After-tax profits averaged 7.4 cents per dollar of sales for the quarter, 7.3 cents last quarter, and 7.3 cents a year earlier.
Nondurable Goods Manufacturers Nondurable goods manufacturers' after-tax profits in the third quarter 2005 were $61.2 billion, up $4.0 (+/-0.8) billion from the $57.2 billion recorded in the previous quarter, and up $9.5 (+/-0.7) billion from the $51.7 billion in the third quarter 2004.
Seasonally adjusted sales for the quarter were $713.8 billion, up $37.2 (+/-7.0) billion from the $676.6 billion recorded in the prior quarter, and up $109.8 (+/-6.6) billion from the $604.0 billion in the third quarter 2004.
After-tax profits averaged 8.6 cents per dollar of sales for the quarter, 8.4 cents last quarter, and 8.6 cents a year earlier (not a statistically significant change).
Durable Goods Manufacturers Third quarter 2005 seasonally adjusted after-tax profits for durable goods manufacturers were $43.5 billion, up $2.6 (+/-1.1) billion from the $41.0 billion recorded in the previous quarter, and up $3.8 (+/-1.0) billion from the $39.7 billion in the third quarter 2004.
Seasonally adjusted sales for the quarter were $693.4 billion, up $20.1 (+/-7.9) billion from the $673.3 billion recorded in the previous quarter, and up $49.3 (+/-7.7) billion from the $644.1 billion recorded in the third quarter 2004.
After-tax profits averaged 6.3 cents per dollar of sales for the quarter, 6.1 cents last quarter, and 6.2 cents a year earlier (not a statistically significant change).
Manufacturing Corporations Third quarter 2005 unadjusted after-tax profits for U.S. manufacturing corporations were $103.6 billion, up $13.8 (+/-1.2) billion over the $89.8 billion recorded in the same quarter a year ago. This overall improvement was mainly due to higher operating profits and the absence of nonrecurring charges. When compared to the second quarter 2005 after-tax profits of $105.9 billion, the third quarter 2005 after-tax profits were down $2.3 (+/-1.3) billion.
Unadjusted sales for the third quarter 2005 were $1,409.4 billion, up $158.4 (+/-8.8) billion from the $1,251.0 billion in the same quarter a year ago, and up $32.9 (+/-9.2) billion from the prior quarter sales of $1,376.5 billion.
After-tax profits per dollar of sales averaged 7.3 cents this quarter, 7.7 cents last quarter, and 7.2 cents in the third quarter 2004.
Nondurable Goods Manufacturers Third quarter 2005 nondurable goods manufacturers' unadjusted after-tax profits of $62.4 billion were up $9.8 (+/-0.7) billion from the $52.6 billion recorded in the third quarter 2004. When compared to the third quarter last year, results were mixed within the industry categories. Petroleum and coal products reported an increase of $6.9 (+/-0.1) billion, mainly due to increased domestic and equity earnings. Chemical products also reported an increase, $0.9 (+/-0.5) billion, mainly due to increased domestic earnings. The other nondurable industries reported minimal gains or not statistically significant changes.
Unadjusted sales for the third quarter 2005 were $723.3 billion, up $111.2 (+/-6.6) billion from the $612.0 billion in the same quarter a year ago, and up $37.5 (+/-7.0) billion from the prior quarter sales of $685.8 billion.
After-tax profits per dollar of sales averaged 8.6 cents this quarter, which was approximately the same as last quarter and the third quarter 2004.
When compared to the second quarter 2005 after-tax profits of $58.7 billion, the third quarter 2005 after-tax profits were up $3.8 (+/-0.8) billion. Petroleum products' increase of $1.8 (+/-0.1) billion came mainly from equity earnings and nonoperating income in the quarter. Chemical products' overall increase of $1.1 (+/-0.5) billion came from an increase of $3.8 (+/-0.4) billion in pharmaceutical products more than offsetting decreases in the other chemical products industries. Pharmaceutical products' increases were mainly due to an increase in dividend income and nonrecurring gains. The changes in after-tax profits in the textiles, printing, and plastics and rubber industries were not statistically significant. Beverage and tobacco products reported a modest decline of $0.7 (+/-0.1) billion.
Durable Goods Manufacturers Third quarter 2005 durable goods manufacturers' unadjusted after- tax profits of $41.2 billion were up $3.9 (+/-1.0) billion from the $37.2 billion recorded in the third quarter 2004. When compared to the third quarter last year, results were mixed within the industry categories. Fabricated metal products, computer and electronic products, and machinery products reported modest increases in earnings mainly due to domestic operations. The decline in domestic operating profits in the transportation equipment industry resulted in a decrease of $3.7 (+/-0.3) billion. Furniture products change in after-tax profits was not statistically significant.
Unadjusted sales for the third quarter 2005 were $686.1 billion, up $47.2 (+/-7.7) billion from the $638.9 billion in the same quarter a year ago, but not statistically different from the prior quarter sales of $690.7 billion.
After-tax profits per dollar of sales averaged 6.0 cents this quarter, 6.8 cents last quarter, and 5.8 cents in the third quarter 2004.
When compared to the second quarter 2005 after-tax profits of $47.2 billion, the third quarter 2005 after-tax profits were down $6.1 (+/-1.1) billion. Results were mixed within the industry categories. Transportation equipment reported greater domestic operating losses which resulted in a decline of $4.7 (+/-0.3) billion. Primary metal industries posted a modest loss of $1.4 (+/-0.2) billion from domestic and equity earnings. Miscellaneous manufacturing reported a modest increase of $1.0 (+/-0.3) billion due to domestic and equity earnings. Several durable goods manufacturers posted changes in after-tax profits which were not statistically significant.
Mining Corporations Third quarter 2005 unadjusted after-tax profits for mining corporations with assets of $50 million and over, at $9.1 billion, were up $3.5 (+/-0.1) billion from the $5.6 billion recorded in the third quarter 2004.
Unadjusted sales for the third quarter 2005 were $38.2 billion, up $6.9 (+/-0.2) billion from the $31.3 billion in the same quarter a year earlier.
After-tax profits per dollar of sales averaged 23.8 cents this quarter, compared to the 17.8 cents in the third quarter 2004.
Wholesale Trade Corporations Third quarter 2005 unadjusted after-tax profits for wholesale trade corporations with assets of $50 million and over, at $8.8 billion, were down $0.7 (+/-0.2) billion from the $9.5 billion recorded in the third quarter 2004.
Unadjusted sales for the third quarter 2005 were $420.0 billion, up $41.0 (+/-5.8) billion from the $379.0 billion in the same quarter a year earlier.
After-tax profits per dollar of sales averaged 2.1 cents this quarter, compared to the 2.5 cents in the third quarter 2004.
Third quarter 2005 advance data for U.S. Retail Corporations are scheduled for release on January 11, 2006.
Fourth quarter 2005 advance data for U.S Manufacturing, Mining, Wholesale and Retail Trade Corporations are scheduled for release on April 4, 2006.
Seasonally Adjusted
3Q 2Q 3Q
2005 2005(1) 2004(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 7.4 7.3 7.3
Percent on equity (annual rate) .......... N/A N/A N/A
(million dollars)
Sales ....................................1,407,202 1,349,914 1,248,112
Income after income taxes ................ 104,726 98,129 91,398
Dividends paid (cash) .................... N/A N/A N/A
(1)Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-3, December 2005.
Unadjusted
3Q 2Q 3Q
2005 2005(1) 2004(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 7.3 7.7 7.2
Percent on equity (annual rate) .......... 17.2 17.9 16.2
(million dollars)
Sales ....................................1,409,403 1,376,531 1,250,976
Income after income taxes ................ 103,584 105,895 89,824
Dividends paid (cash) .................... 44,311 37,622 32,623
(1)Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-3, December 2005.
Sales(2)
Industry Group and Year Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1995 .......................... 871,786 872,848 883,197 899,946
1996 .......................... 914,317 932,464 948,157 961,734
1997 .......................... 965,896 971,802 986,711 995,680
1998 .......................... 989,871 981,292 986,101 993,346
1999 ..........................1,003,536 1,026,651 1,047,815 1,070,842
2000 ..........................1,120,848 1,128,796 1,144,960 1,119,557
2001 ..........................1,116,047 1,094,727 1,059,358 1,026,397
2002 ..........................1,025,141 1,050,183 1,065,274 1,074,393
2003 ..........................1,102,523 1,075,126 1,106,071 1,109,444
2004 ..........................1,183,167 1,224,360 1,248,112 1,276,932
2005 ..........................1,311,123 1,349,914 1,407,202
All nondurable manufacturing:
1995 .......................... 426,090 427,761 430,512 436,085
1996 .......................... 442,237 452,259 457,637 463,341
1997 .......................... 463,256 456,060 461,413 463,837
1998 .......................... 452,332 445,764 443,870 439,340
1999 .......................... 446,195 453,021 461,109 474,195
2000 .......................... 507,945 515,587 527,767 502,057
2001 .......................... 509,207 507,114 488,974 469,172
2002 .......................... 464,600 479,731 497,537 512,850
2003 .......................... 542,126 515,469 532,847 523,242
2004 .......................... 572,766 595,269 604,014 622,985
2005 .......................... 650,524 676,588 713,834
All durable manufacturing:
1995 .......................... 445,696 445,087 452,686 463,861
1996........................... 472,079 480,205 490,519 498,393
1997 .......................... 502,640 515,742 525,298 531,844
1998 .......................... 537,538 535,528 542,231 554,006
1999 .......................... 557,341 573,630 586,706 596,647
2000 .......................... 612,903 613,209 617,194 617,500
2001 .......................... 606,840 587,613 570,384 557,225
2002 .......................... 560,541 570,451 567,738 561,543
2003 .......................... 560,397 559,656 573,224 586,202
2004 .......................... 610,401 629,090 644,098 653,947
2005 .......................... 660,599 673,327 693,368
(1) Data after first quarter 2000 are presented on the North American Industry Classification System basis.
Data prior to first quarter 2000 are presented on the Standard Industrial Classification system basis.(2)Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-3, December 2005.
After-Tax Profits(2)
Industry Group and Year Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1995 .......................... 52,836 51,846 49,423 44,195
1996 .......................... 51,288 53,807 61,292 58,711
1997 .......................... 60,848 61,645 61,939 60,307
1998 .......................... 74,877 48,797 61,241 49,726
1999 .......................... 60,174 62,942 67,245 67,585
2000 .......................... 77,768 70,325 74,740 47,391
2001 .......................... 647 15,329 12,102 7,985
2002 .......................... 25,879 37,231 42,423 34,405
2003 .......................... 59,706 48,999 54,653 73,304
2004 .......................... 77,123 86,333 91,398 91,879
2005 .......................... 91,965 98,129 104,726
All nondurable manufacturing:
1995 .......................... 25,876 28,192 27,591 22,253
1996 .......................... 28,025 28,309 32,129 30,457
1997 .......................... 33,379 30,674 30,544 28,708
1998 .......................... 29,760 28,446 30,952 17,587
1999 .......................... 26,503 28,708 31,627 30,718
2000 .......................... 37,593 38,228 37,524 29,061
2001 .......................... 31,837 33,620 27,469 19,356
2002 .......................... 26,991 28,407 31,239 31,920
2003 .......................... 43,943 33,557 29,969 41,304
2004 .......................... 41,353 46,816 51,664 51,385
2005 .......................... 56,058 57,158 61,180
All durable manufacturing:
1995 .......................... 26,960 23,654 21,832 21,942
1996 .......................... 23,263 25,498 29,163 28,254
1997 .......................... 27,469 30,971 31,395 31,599
1998 .......................... 45,117 20,351 30,289 32,139
1999 .......................... 33,670 34,234 35,618 36,867
2000 .......................... 40,175 32,098 37,216 18,330
2001 .......................... (31,190) (18,291) (15,367) (11,371)
2002 .......................... (1,113) 8,823 11,183 2,485
2003 .......................... 15,763 15,442 24,683 32,000
2004 .......................... 35,771 39,517 39,734 40,493
2005 .......................... 35,908 40,971 43,546
(1) Data after first quarter 2000 are presented on the North American Industry Classification System basis.
Data prior to first quarter 2000 are presented on the Standard Industrial Classification system basis.(2)Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-3, December 2005.
Sales
3Q 2Q 3Q
Industry Group 2005 2005(2) 2004(2)
(million dollars)
All manufacturing corporations(3)..........1,409,403 1,376,531 1,250,976
All nondurable goods....................... 723,268 685,787 612,041
Food..................................... 107,921 105,308 103,554
Beverage and tobbaco products............ 37,136 37,058 35,389
Textiles mills and textile product mills. 12,669 12,402 12,603
Apparel and leather products............. 23,212 22,717 23,432
Paper ................................... 38,261 38,008 40,911
Printing and related support activities.. 17,360 16,601 16,725
Petroleum and coal products.............. 290,255 254,156 198,895
Chemicals ............................... 155,796 158,933 143,269
Basic chemicals, resins, and
synthetics(4).......................... 49,238 51,111 43,058
Pharmaceuticals and medicines(4)........ 63,339 62,571 59,404
All other chemicals(4).................. 43,219 45,251 40,807
Plastics and rubber products............. 40,656 40,604 37,265
All durable manufacturing.................. 686,135 690,744 638,934
Wood products............................ 20,816 21,100 19,852
Nonmetallic mineral products............. 32,916 29,477 28,790
Primary metals........................... 46,627 48,495 44,633
Iron, steel, and ferroalloys(4)......... 22,886 24,855 24,183
Nonferrous metals(4).................... 18,383 18,160 16,161
Foundries(4)............................ 5,357 5,481 4,289
Fabricated metal products................ 61,848 61,956 56,988
Machinery ............................... 81,363 81,054 71,944
Computer and electronic products......... 137,110 135,240 132,058
Computer and peripheral equipment(4).... 41,703 41,539 40,152
Communications equipment(4)............. 27,422 27,465 25,551
All other electronic products(4)........ 67,985 66,235 66,356
Electrical equipment, appliances and
components.............................. 52,385 52,503 49,148
Transportation equipment ................ 203,663 213,581 191,033
Motor vehicles and parts(4)............. 145,047 151,670 135,307
Aerospace products and parts(4)......... 46,268 50,183 45,803
Furniture and related products........... 16,924 15,994 15,258
Miscellaneous manufacturing.............. 32,483 31,343 29,229
All mining(3).............................. 38,177 37,010 31,279
All wholesale trade(3)..................... 419,985 408,715 379,029
All retail trade(3)........................ N/A 441,328 409,756
(1)Operating profits are profits before nonoperating income and expense items and income taxes.(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 of $50 million and over.
(4)Included in major industry above.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-3, December 2005.
Operating Profits(1)
3Q 2Q 3Q
Industry Group 2005 2005(2) 2004(2)
(million dollars)
All manufacturing corporations(3).......... 95,566 96,974 87,922
All nondurable goods....................... 53,565 55,447 47,538
Food..................................... 6,936 6,218 6,360
Beverage and tobbaco products............ 5,940 6,177 5,204
Textiles mills and textile product mills. 820 741 544
Apparel and leather products............. 2,333 1,934 2,507
Paper ................................... 3,235 3,774 3,160
Printing and related support activities.. 1,256 1,224 1,304
Petroleum and coal products.............. 17,961 18,455 14,531
Chemicals ............................... 12,648 14,382 11,792
Basic chemicals, resins, and
synthetics(4).......................... 2,268 3,960 1,281
Pharmaceuticals and medicines(4)........ 6,504 5,980 5,924
All other chemicals(4).................. 3,877 4,442 4,587
Plastics and rubber products............. 2,436 2,541 2,136
All durable manufacturing.................. 39,001 41,527 40,385
Wood products............................ 1,503 1,631 2,004
Nonmetallic mineral products............. 4,101 3,647 3,404
Primary metals........................... 3,890 4,648 4,523
Iron, steel, and ferroalloys(4)......... 1,841 2,537 3,184
Nonferrous metals(4).................... 1,649 1,622 1,155
Foundries(4)............................ 400 489 185
Fabricated metal products................ 6,048 5,922 4,910
Machinery ............................... 6,309 6,549 5,418
Computer and electronic products......... 8,679 7,623 6,878
Computer and peripheral equipment(4).... 1,452 1,003 482
Communications equipment(4)............. 2,235 2,123 827
All other electronic products(4)........ 4,991 4,497 5,569
Electrical equipment, appliances and
components.............................. 3,843 3,929 3,315
Transportation equipment ................ (770) 3,196 5,644
Motor vehicles and parts(4)............. (5,949) (2,099) 1,414
Aerospace products and parts(4)......... 3,609 3,910 3,148
Furniture and related products........... 1,427 1,012 1,126
Miscellaneous manufacturing.............. 3,971 3,371 3,161
All mining(3).............................. 10,150 9,775 6,653
All wholesale trade(3)..................... 11,520 12,607 12,259
All retail trade(3)........................ NA 21,081 15,522
(1)Operating profits are profits before nonoperating income
and expense items and income taxes.(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 of $50 million and over.
(4)Included in major industry above.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-3, December 2005.
After-Tax Profits
3Q 2Q 3Q
Industry Group 2005 2005(2) 2004(2)
(million dollars)
All manufacturing corporations(3).......... 103,584 105,895 89,824
All nondurable goods....................... 62,429 58,676 52,610
Food..................................... 5,391 4,982 5,201
Beverage and tobbaco products............ 6,421 7,104 5,623
Textiles mills and textile product mills. 516 388 288
Apparel and leather products............. 1,980 1,595 2,017
Paper ................................... 1,878 1,441 1,814
Printing and related support activities.. 669 677 744
Petroleum and coal products.............. 24,517 22,737 17,593
Chemicals ............................... 19,191 18,080 18,245
Basic chemicals, resins, and
synthetics(4).......................... 1,705 3,578 1,851
Pharmaceuticals and medicines(4)........ 14,305 10,487 11,416
All other chemicals(4).................. 3,181 4,015 4,978
Plastics and rubber products............. 1,866 1,671 1,085
All durable manufacturing.................. 41,155 47,219 37,213
Wood products............................ 840 1,087 1,465
Nonmetallic mineral products............. 2,411 2,664 (1,492)
Primary metals........................... 3,004 4,413 3,421
Iron, steel, and ferroalloys(4)......... 1,348 1,745 2,324
Nonferrous metals(4).................... 1,386 2,318 1,251
Foundries(4)............................ 271 350 (154)
Fabricated metal products................ 4,626 4,683 3,437
Machinery ............................... 5,199 5,349 4,160
Computer and electronic products......... 12,762 13,102 11,615
Computer and peripheral equipment(4).... 4,331 5,197 3,978
Communications equipment(4)............. 3,007 2,942 2,093
All other electronic products(4)........ 5,423 4,963 5,544
Electrical equipment, appliances and
components.............................. 6,702 6,762 5,965
Transportation equipment ................ 1,067 5,813 4,813
Motor vehicles and parts(4)............. (3,374) 1,663 1,638
Aerospace products and parts(4)......... 3,287 3,141 2,393
Furniture and related products........... 870 688 868
Miscellaneous manufacturing.............. 3,675 2,659 2,959
All mining(3).............................. 9,076 9,367 5,578
All wholesale trade(3)..................... 8,772 9,412 9,501
All retail trade(3)........................ NA 13,860 11,186
(1)Operating profits are profits before nonoperating income
and expense items and income taxes.(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 of $50 million and over.
(4)Included in major industry above.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-3, December 2005.
Schedule of Advance Data Release Dates: 2006
Economic Indicator Release Schedule
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Third 2005 January 11
Fourth 2005 April 4 April 4
First 2006 June 12 July 11
Second 2006 September 11 October 11
Third 2006 December 12
e-mail: csd.qfr@census.gov
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