U.S. manufacturing corporations saw their seasonally adjusted after-tax profits for the first quarter of 2013 total $152.5 billion, up $14.4 billion from the $138.1 total of the last quarter of 2012, according to a report from the U.S. Census Bureau. Profits were up $6.0 billion from the corresponding first quarter of 2012.
Manufacturing efficiency continues to be a major benefit to companies given that seasonally adjusted sales for the quarter were $1,677.1 billion, down $4.7 billion from the $1,681.9 billion recorded in the fourth quarter of 2012 and $15.6 billion less than was sold in the first quarter of 2012 ($1,692.7 billion).
Seasonally adjusted after-tax profits for nondurable goods manufacturers rose $4.9 billion to $82.0 billion in the first quarter of 2013 compared to 4Q 2012, but sales were essentially flat.
Durable goods manufacturers saw profits rise $9.6 billion to $70.5 billion in the first quarter but seasonally adjusted sales were down $5.8 billion to $777.6 billion. Sales for the first three months of 2013 were nearly identical to the first quarter of 2012 - $776.6 billion.
