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August 26, 2014QUARTERLY FINANCIAL STATISTICS FOR ENTERPRISES 2ND QUARTER 2014 Seasonally-adjusted operating profits for Canadian corporations increased 2.6 per cent in the 2nd quarter to $87.8.billion, this follows a 3.8 per cent percent increase in the first quarter of 2014. First quarter profit was revised down to $85.6 billion from the initial estimate of $88.6 billion (growth of 7.4%) due to lower operating profits for insurance carriers. Profits rose in 13 out of 22 industries with increases for both financial and non-financial firms. Compared to a year earlier, operating profits are 6.8 per cent higher.
The non-financial sector, seasonally adjusted, operating profits rose 0.8 per cent to $66.4 billion in the second quarter with operating revenue increasing 1.5 per cent. Year-over-year, operating profits were up 15.8 per cent in the non-financial sector. Manufacturing profits decreased to 1.9 per cent with petroleum and coal products manufacturing profits declining 17.8 per cent from record levels in the first quarter. Operating revenue for petroleum and coal products manufacturing were at records levels, but higher depreciation and other expenses offset the gains. Motor vehicle and parts manufacturing profits were lower by 22.1 per cent in the second quarter as additional shifts and overtime were needed to meet strong demand after transportation of autos and parts was delayed by poor weather in the first quarter.
Among non-financial sectors, operating profit increases for the 2nd quarter were reported in
-Wholesale trade (+$690 million, 9.0%)
-Construction (+519 million, +11.7%)
-Professional, scientific and technical services ($346 million, +8.7%)
Operating profit decreases occurred in:
-Retail Trade (-$820 million, -20.8%)
-Manufacturing (-$278 million, -1.9%)
-Utilities (-$153 million, -8.1%)
The financial sector's operating profits increased 8.8 per cent in the 2nd quarter with an increase in insurance carriers profits from a loss of $46 million in the first quarter to an operating profit of $1.78 billion in second quarter.
Source:
Quarterly financial statistics for enterprises; CANSIM 187-0002