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Manufacturing Corporations
Seasonally adjusted after-tax profits of U.S. manufacturing
corporations totaled $51.9 billion in the second quarter 2003,
compared to the $50.9 billion recorded in the first quarter, the
Department of Commerce's U.S. Census Bureau reported.
Second quarter profits were up $12.8 (+/-1.3) billion from the
$39.1 billion recorded in the same quarter a year ago.
Seasonally adjusted sales for these manufacturers totaled $1,067.5 billion for the quarter, down $25.7 (+/-7.1) billion from the $1,093.2 billion recorded in the first quarter 2003, and up $20.6 (+/-7.1) billion from the $1,046.9 billion recorded the year before.
After-tax profits per dollar of sales averaged 4.9 cents this quarter; 4.7 cents recorded last quarter, and 3.7 cents in the second quarter 2002.
Nondurable Goods Manufacturers
Nondurable goods manufacturers' seasonally adjusted after-
tax profits were $34.7 billion, down $1.9 (+/-0.7) billion from
the $36.6 billion recorded in the previous quarter, and up
$5.8 (+/-0.7) billion from the $28.8 billion in the second quarter
2002.
Seasonally adjusted sales for the quarter at $506.7 billion were down $23.6 (+/-5.9) billion from the $530.3 billion recorded in the prior quarter, but up $28.8 (+/-5.8) billion from the $477.9 billion in the second quarter 2002.
After-tax profits averaged 6.8 cents per dollar of sales in the current quarter, 6.9 cents last quarter, and 6.0 cents a year ago.
Durable Goods Manufacturers
Second quarter 2003 seasonally adjusted after-tax profits for
durable goods manufacturers were $17.2 billion, up $2.9
(+/-0.9) billion from the $14.3 billion recorded in the previous
quarter, and up $6.9 (+/-1.1) billion from the $10.3 billion in the
second quarter 2002 .
Seasonally adjusted sales for the quarter were $560.8 billion, not statistically different from the $562.9 billion recorded in the previous quarter, but down $8.2 (+/-5.7) billion from the $569.0 billion recorded in the second quarter last year.
After-tax profits averaged 3.1 cents per dollar of sales for the quarter, 2.5 cents in the first quarter 2003, and 1.8 cents a year ago.
Manufacturing Corporations
Second quarter 2003 unadjusted after-tax profits for U.S.
manufacturing corporations were $58.6 billion, up $12.4
(+/-1.3) billion over the $46.2 billion recorded in the second
quarter a year ago. This improvement was mainly due to
higher nonoperating income and lower nonrecurring charges.
When compared to the first quarter 2003 after-tax profits of
$52.0 billion, the second quarter 2003 after-tax profits were
up $6.6 (+/-1.2) billion or 12.7 (+/-2.4%) percent.
Unadjusted sales for the second quarter, at $1,092.5 billion, were up $20.9 (+/-7.1) billion from the $1,071.6 billion recorded in the same quarter a year ago. Compared to the prior quarter sales of $1,063.2 billion, sales were up $29.3 (+/-7.1) billion or 2.8 (+/-0.7%) percent.
Profits per dollar of sales averaged 5.4 cents this quarter, 4.9 cents in the first quarter 2003, and 4.3 cents in the second quarter 2002.
Nondurable Goods Manufacturers
Second quarter 2003 nondurable goods manufacturers'
unadjusted after-tax profits at $36.7 billion were up $5.5
(+/-0.7) billion from the $31.2 billion recorded in the second
quarter 2002. Most nondurable categories were up, with
petroleum and coal products leading with reported profits of
$9.4 billion in the quarter. The $1.1 billion profit in apparel
and leather was an improvement of $1.9 (+/-0.1) billion from
the loss of $0.7 billion a year earlier. Pharmaceuticals
reported after-tax profits of $8.5 billion, a modest increase of
$1.2 (+/-0.3) billion, mainly from nonoperating income.
Unadjusted sales for the second quarter 2003 of $516.5 billion were up $28.4 (+/-5.8) billion from the $488.1 billion posted last year.
After-tax profits for this quarter averaged 7.1 cents per dollar of sales compared to 6.4 cents a year ago.
The second quarter 2003 after-tax profits of $36.7 billion were not statistically different from the prior quarter. Petroleum and coal products' profits of $9.4 billion declined $3.9 (+/-0.1) billion after a steady rise which was in part due to strong equity earnings. Beverage and tobacco's after-tax profits of $5.6 billion, reported the largest increase, $1.8 (+/-0.1) billion, in this category.
Durable Goods Manufacturers
Second quarter 2003 durable goods manufacturers posted
unadjusted after-tax profits of $21.9 billion, up $6.9 (+/-1.1)
billion from the $15.1 billion recorded a year earlier.
Although most categories reported modest declines, the
improvements in communications equipment, machinery
products and computer peripherals, caused the overall
increase. Communications equipment reduced their losses
by $5.1 (+/-0.5) billion due to improved operating margins and
fewer nonrecurring charges as well as improved equity
earnings.
Unadjusted sales for the quarter at $575.9 billion were down $7.5 (+/-5.7) billion or 1.3 (+/-1.0%) percent from the $583.4 billion recorded a year earlier.
After-tax profits for the quarter averaged 3.8 cents per dollar of sales compared to 2.6 cents a year ago.
When compared to the first quarter 2003 after-tax profits of $15.3 billion, the second quarter 2003 after-tax profits rose $6.6 (+/-0.9) billion. Most underlying industries showed improvements this quarter over the last.
Second quarter 2003 unadjusted after-tax profits for mining corporations with assets of $50 million and over were reported at $3.1 billion, up $1.6 (+/-0.1) billion from the $1.5 billion in the same quarter a year earlier.
Unadjusted sales for the quarter were $23.2 billion, up $3.5 (+/-0.2) billion from the $19.7 billion in the same quarter a year ago.
After-tax profits per dollar of sales averaged 13.5 cents this quarter compared to 7.7 cents in the second quarter 2002.
Second quarter 2003 unadjusted after-tax profits for wholesale trade corporations with assets of $50 million and over were $5.0 billion, down $0.9 (+/-0.2) billion from the $5.9 billion in the second quarter 2002.
Unadjusted sales this quarter were $339.3 billion, up $27.5 (+/-4.3) billion from the $311.8 billion in the same quarter a year ago.
After-tax profits per dollar of sales averaged 1.5 cents this quarter, compared to 1.9 cents a year ago.
Second quarter 2003 advance data for U.S. Retail Corporations are scheduled for release on October 15, 2003.
Third quarter 2003 advance data for U.S Manufacturing, Mining and Wholesale Trade Corporations are scheduled for release on December 12, 2003.
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 Frank Hartman (301) 763-3386.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-03-2, September 2003.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-03-2, September 2003.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-03-2, September 2003.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-03-2, September 2003.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-03-2, September 2003.
ORDER & RELEASE INFORMATION
The publication becomes available for sale approximately two weeks
from the date of this release from the Superintendent of Documents,
P.O. Box 371954, Pittsburgh, PA 15250-7954 (202-512-1800).
The cost for an annual subscription is $39 domestic and $48.75 foreign.
Data are also available on 3.5 inch diskettes from U.S. Department of Commerce,
Census Bureau (MS0801), P.O. Box 277943, Atlanta, GA 30384-
7943 (301-763-INFO/301-763-4636). The cost for an annual
subscription is $80 domestic and $105 foreign. The cost for a single
diskette is $50. All remittances from foreign countries must be by
international money order or by draft on a U.S. bank.
Schedule of Advance Data Release Dates--2003
Questions concerning this advance report should be directed to
Contact:
Yolando St.George (301) 763-6600 or
Frank Hartman (301) 763-3386.
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Quarterly Financial Report
AVAILABILITY:
Seasonally Adjusted
2Q 1Q 2Q
2003 2003(1) 2002(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 4.9 4.7 3.7
Percent on equity (annual rate) .......... NA NA NA
(million dollars)
Sales ....................................1,067,539 1,093,193 1,046,907
Income after income taxes ................ 51,900 50,875 39,148
Dividends paid (cash) .................... NA NA NA
1 Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-03-2, September 2003.
Unadjusted
2Q 1Q 2Q
2003 2003(1) 2002(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 5.4 4.9 4.3
Percent on equity (annual rate) .......... 12.7 11.6 10.2
(million dollars)
Sales .................................... 1,092,474 1,063,202 1,071,574
Income after income taxes ................ 58,595 51,990 46,236
Dividends paid (cash) .................... 27,855 21,568 26,253
1 Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-03-2, September 2003.
Sales(2)
Industry Group and Year Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1994 .......................... 784,448 803,059 825,296 841,771
1995 .......................... 871,251 872,750 883,506 899,929
1996 .......................... 914,182 932,518 948,194 961,721
1997 .......................... 965,685 972,105 986,466 996,012
1998 .......................... 989,489 981,439 985,722 994,575
1999 ..........................1,002,454 1,026,207 1,048,056 1,072,692
2000 ..........................1,119,337 1,127,102 1,146,576 1,121,462
2001 ..........................1,114,149 1,091,973 1,062,899 1,027,491
2002 ..........................1,022,899 1,046,907 1,066,218 1,070,798
2003 ..........................1,093,193 1,067,539
All nondurable manufacturing:
1994 .......................... 387,221 394,740 405,711 410,041
1995 .......................... 425,583 427,624 430,798 436,121
1996 .......................... 442,117 452,266 457,631 463,404
1997 .......................... 463,099 456,276 461,087 464,272
1998 .......................... 452,078 445,779 443,313 440,775
1999 .......................... 445,273 452,457 460,932 476,460
2000 .......................... 506,520 514,121 528,220 504,946
2001 .......................... 507,104 505,132 490,568 471,663
2002 .......................... 461,904 477,886 495,669 510,126
2003 .......................... 530,268 506,690
All durable manufacturing:
1994 .......................... 397,227 408,319 419,584 431,730
1995 .......................... 445,668 445,127 452,708 463,808
1996........................... 472,065 480,252 490,564 498,317
1997 .......................... 502,586 515,830 525,379 531,740
1998 .......................... 537,411 535,661 542,409 553,799
1999 .......................... 557,181 573,751 587,124 596,232
2000 .......................... 612,818 612,982 618,356 616,516
2001 .......................... 607,045 586,841 572,331 555,828
2002 .......................... 560,996 569,021 570,549 560,673
2003 .......................... 562,924 560,848
(1)Data after fourth quarter 2000 are presented on the North American Industry Classification System basis.
Data prior to fourth quarter 2000 are presented on the Standard Classification system basis.
Comparisons of these data are useful only for trend analysis.
(2)Revised.
After-Tax Profits(2)
Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1994 .......................... 36,357 41,164 45,395 52,148
1995 .......................... 52,717 51,985 49,302 44,310
1996 .......................... 51,126 53,996 61,125 58,910
1997 .......................... 60,569 61,915 61,721 60,613
1998 .......................... 74,418 49,228 60,937 50,150
1999 .......................... 59,446 63,677 66,757 68,203
2000 .......................... 76,677 71,442 74,012 48,308
2001 .......................... (981) 16,905 11,232 9,126
2002 .......................... 23,716 39,148 44,267 32,414
2003 .......................... 50,875 51,900
All nondurable manufacturing:
1994 .......................... 18,961 19,822 22,401 26,641
1995 .......................... 25,851 28,173 27,542 22,351
1996 .......................... 28,021 28,259 32,032 30,644
1997 .......................... 33,360 30,601 30,389 28,986
1998 .......................... 29,725 28,402 30,655 17,991
1999 .......................... 26,459 28,687 31,195 31,280
2000 .......................... 37,427 38,356 36,926 29,772
2001 .......................... 31,477 33,905 26,924 19,970
2002 .......................... 26,498 28,836 30,602 28,128
2003 .......................... 36,575 34,663
All durable manufacturing:
1994 .......................... 17,396 21,343 22,986 25,507
1995 .......................... 26,866 23,812 21,758 21,959
1996 .......................... 23,105 25,736 29,101 28,266
1997 .......................... 27,209 31,314 31,358 31,628
1998 .......................... 44,692 20,825 30,339 32,158
1999 .......................... 32,987 34,990 35,676 36,922
2000 .......................... 39,250 33,085 37,266 18,536
2001 .......................... (32,458) (17,001) (15,438) (10,845)
2002 .......................... (2,782) 10,312 13,379 4,286
2003 .......................... 14,300 17,237
(1)Data after fourth quarter 2000 are presented on the North American Industry Classification System basis.
Data prior to fourth quarter 2000 are presented on the Standard Classification system basis.
Comparisons of these data are useful only for trend analysis.
(2)Revised.
Sales
2Q 1Q 2Q
Industry Group 2003 2003(2) 2002(2)
(million dollars)
All manufacturing corporations(3)..........1,092,474 1,063,202 1,071,574
All nondurable goods....................... 516,529 515,461 488,142
Food..................................... 80,354 80,034 76,572
Beverage and tobbaco products............ 36,081 32,295 36,804
Textiles mills and textile product mills. 12,446 11,271 12,549
Apparel and leather products............. 20,811 20,871 21,188
Paper ................................... 36,989 35,307 39,948
Printing and related support activities.. 16,786 17,278 17,052
Petroleum and coal products.............. 142,081 155,178 116,986
Chemicals ............................... 139,048 134,624 135,563
Basic chemicals, resins, and
synthetics(4).......................... 39,685 39,095 37,995
Pharmaceuticals and medicines(4)........ 59,758 59,758 57,873
All other chemicals(4).................. 39,605 35,771 39,696
Plastics and rubber products............. 31,933 28,604 31,480
All durable manufacturing.................. 575,944 547,741 583,433
Wood products............................ 15,663 14,166 16,473
Nonmetallic mineral products............. 23,060 18,150 23,177
Primary metals........................... 33,976 32,569 34,480
Iron, steel, and ferroalloys(4)......... 14,932 13,941 14,346
Nonferrous metals(4).................... 14,235 13,801 14,303
Foundries(4)............................ 4,809 4,827 5,831
Fabricated metal products................ 52,063 48,240 53,239
Machinery ............................... 65,324 59,349 67,190
Computer and electronic products......... 111,140 107,032 110,307
Computer and peripheral equipment(4).... 34,726 34,091 35,155
Communications equipment(4)............. 22,635 20,417 22,121
All other electronic products(4)........ 53,779 52,524 53,031
Electrical equipment, appliances and
components.............................. 45,748 41,960 47,067
Transportation equipment ................ 189,189 186,420 191,541
Motor vehicles and parts(4)............. 141,233 144,152 144,313
Aerospace products and parts(4)......... 40,083 37,978 39,604
Furniture and related products........... 13,249 13,004 14,303
Miscellaneous manufacturing.............. 26,531 26,849 25,657
All mining(3).............................. 23,188 23,491 19,672
All wholesale trade(3)..................... 339,277 327,211 311,816
All retail trade(3)........................ NA 352,074 350,116
(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 over $50 million.
(4)Included in major industry above.
Operating Profits(1)
2Q 1Q 2Q
Industry Group 2003 2003(2) 2002(2)
(million dollars)
All manufacturing corporations(3).......... 67,384 53,989 71,536
All nondurable goods....................... 40,352 36,956 43,796
Food..................................... 5,579 4,953 5,570
Beverage and tobbaco products............ 5,890 5,119 7,861
Textiles mills and textile product mills. 498 416 883
Apparel and leather products............. 1,425 1,314 1,442
Paper ................................... 1,816 1,366 2,482
Printing and related support activities.. 1,170 963 1,296
Petroleum and coal products.............. 6,720 6,844 5,457
Chemicals ............................... 15,131 14,775 16,218
Basic chemicals, resins, and
synthetics(4).......................... 2,107 1,419 2,392
Pharmaceuticals and medicines(4)........ 8,895 10,074 9,249
All other chemicals(4).................. 4,129 3,283 4,577
Plastics and rubber products............. 2,122 1,207 2,587
All durable manufacturing.................. 27,032 17,033 27,740
Wood products............................ 739 253 883
Nonmetallic mineral products............. 2,124 145 2,266
Primary metals........................... 297 124 1,312
Iron, steel, and ferroalloys(4)......... (348) (383) 233
Nonferrous metals(4).................... 400 266 622
Foundries(4)............................ 245 241 457
Fabricated metal products................ 4,377 3,082 4,452
Machinery ............................... 4,089 2,407 4,016
Computer and electronic products......... 2,808 (205) (3,379)
Computer and peripheral equipment(4).... 841 427 (224)
Communications equipment(4)............. 446 (1,289) (2,553)
All other electronic products(4)........ 1,521 657 (602)
Electrical equipment, appliances and
components.............................. 4,402 3,582 5,957
Transportation equipment ................ 5,093 4,302 8,193
Motor vehicles and parts(4)............. 1,685 1,728 3,893
Aerospace products and parts(4)......... 2,571 1,955 3,498
Furniture and related products........... 757 656 1,010
Miscellaneous manufacturing.............. 2,346 2,686 3,031
All mining(3).............................. 4,382 4,817 2,241
All wholesale trade(3)..................... 8,114 6,823 8,346
All retail trade(3)........................ NA 15,045 16,447
(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 over $50 million.
(4)Included in major industry above.
After-Tax Profits
2Q 1Q 2Q
Industry Group 2003 2003(2) 2002(2)
(million dollars)
All manufacturing corporations(3).......... 58,595 51,990 46,236
All nondurable goods....................... 36,682 36,702 31,179
Food..................................... 3,798 3,086 3,412
Beverage and tobbaco products............ 5,564 3,777 5,767
Textiles mills and textile product mills. 56 35 449
Apparel and leather products............. 1,145 692 (734)
Paper ................................... 899 270 889
Printing and related support activities.. 581 383 765
Petroleum and coal products.............. 9,378 13,247 6,073
Chemicals ............................... 14,164 14,793 12,852
Basic chemicals, resins, and
synthetics(4).......................... 1,638 844 988
Pharmaceuticals and medicines(4)........ 8,484 11,060 7,329
All other chemicals(4).................. 4,042 2,889 4,534
Plastics and rubber products............. 1,096 418 1,708
All durable manufacturing.................. 21,913 15,288 15,057
Wood products............................ 392 11 642
Nonmetallic mineral products............. 1,099 (481) 1,161
Primary metals........................... 57 (221) 603
Iron, steel, and ferroalloys(4)......... (337) (534) (16)
Nonferrous metals(4).................... 307 277 327
Foundries(4)............................ 87 37 292
Fabricated metal products................ 2,966 1,549 2,833
Machinery ............................... 2,410 1,544 (382)
Computer and electronic products......... 2,175 345 (5,762)
Computer and peripheral equipment(4).... 2,998 2,530 976
Communications equipment(4)............. (630) (1,270) (5,736)
All other electronic products(4)........ (193) (915) (1,002)
Electrical equipment, appliances and
components.............................. 4,769 4,143 5,632
Transportation equipment ................ 5,919 5,889 7,607
Motor vehicles and parts(4)............. 4,007 4,481 4,371
Aerospace products and parts(4)......... 1,379 1,021 2,690
Furniture and related products........... 315 246 591
Miscellaneous manufacturing.............. 1,811 2,262 2,133
All mining(3).............................. 3,138 3,652 1,515
All wholesale trade(3)..................... 4,968 4,202 5,899
All retail trade(3)........................ NA 8,574 9,538
(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 over $50 million.
(4)Included in major industry above.
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Second 2003 October 15, 2003
Third 2003 December 12, 2003 January 13, 2004
Back to Quarterly Financial
Report
###
Maintained by Traci Gillespie-Brown
Revised Monday, 01-Mar-2004 09:05:56 EST.