Manufacturing Corporations’ Profits are Down in Q1

The U.S. Census Bureau today announced the following seasonally adjusted quarterly after-tax profits for retail trade industries statistics for First Quarter 2023:

After-Tax Profits and Sales, 1Q 2023 – Seasonally Adjusted, Retail Trade Corporations

  • Seasonally adjusted after-tax profits of U.S. retail corporations with assets of $50 million and over totaled $36.6 billion, up $5.6 billion from the $31.0 billion recorded in the fourth quarter of 2022.
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  • This is up $1.7 billion from the $35.0 billion recorded in the first quarter of 2022.
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  • Seasonally adjusted sales for the quarter totaled $1,001.6 billion, not statistically different from the $1,002.3 billion in the fourth quarter of 2022 and not statistically different from the $994.2 billion in the first quarter of 2022.

Manufacturing Industries

The U.S. Census Bureau also announced today the following seasonally adjusted quarterly after-tax profits for manufacturing industries statistics for First Quarter 2023:

After-Tax Profits and Sales, 1Q 2023 – Seasonally Adjusted, Manufacturing Corporations

  • U.S. manufacturing corporations’ seasonally adjusted after-tax profits in the first quarter of 2023 totaled $230.5 billion, down $4.1 billion from the after-tax profits of $234.6 billion recorded in the fourth quarter of 2022.
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  • This is down $35.8 billion from the after-tax profits of $266.3 billion recorded in the first quarter of 2022.
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  • Seasonally adjusted sales for the quarter totaled $2,050.4 billion, down $19.7 billion from the $2,070.1 billion recorded in the fourth quarter of 2022, but not statistically different from the $2,019.9 billion in the first quarter of 2022.

Sources: census.gov