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May 26, 2016QUARTERLY FINANCIAL STATISTICS FOR ENTERPRISES, 1ST QUARTER 2016 Canadian corporations earned $73.1 billion in operating profits (seasonally adjusted) in the 1st quarter of 2016, down 4.6 per cent and marking the third consecutive quarterly decline. Operating profits were down in 11 of 22 industries. Compared to a year ago, corporate profits are 0.4 per cent lower.
The non-financial sector operating profits (seasonally adjusted) were down 3.5 per cent (-$1.8 billion) to $50.7 billion in the 1st quarter. The energy sector fell $2.8 billion with the oil and gas extraction and support activities industry reporting a fifth consecutive quarterly operating loss. Profits in the manufacturing sector was down 7.8 per cent a decline for the petroleum and coal products sector offsetting gains in food and soft drink and motor vehicles. Profits were up in wholesale trade (4.1%), retail trade (3.7%), transportation and warehousing (+14.4%) and information and cultural industries (+3.4%)
The financial sector had operating profits declined 7.1% (-$1.7 billion) with a decline for life, health and medical insurance carriers.
Source: Quarterly financial statistics for enterprises; CANSIM 187-0002