Word: first-half
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Faster than Sales. The first-half reports that came flooding in last week broke scores of records, and nearly every segment of the economy contributed its share. As has come to be almost expected, giant General Motors led the field by announcing, for the third quarter in a row, the highest sales and earnings of any company in history. The impressive total: first half sales of $9.8 billion, profits of $1.1 billion. Ford and Chrysler also reported alltime high earnings for the half...
...marks contented themselves with hefty hikes. B. F. Goodrich raised profits 15.5%, and Reynolds Metals 25%. The nation's second largest railroad, the Pennsylvania, was up more than 500% in the first half, and the third biggest road, the New York Central, turned a $4,400,000 loss into a $10.7 million profit. If the second half continues at the first-half pace-which ran ahead of all estimates-U.S. corporations will earn between $34 and $35 billion in 1964, a performance that would outshine 1963's record by more than...
...many of the boat builders were inexperienced and undercapitalized; when they floundered, the fiber glass companies were left with excess capacity, were forced to make price cuts. This year, however, the rising demand for fiber glass in new products has finally led to price increases. Owens-Corning's first-half earnings of $8.2 million on sales of $139 million, announced this week, are 62% better than last year...
...different varieties, from a clawlike ripper that crushes rocks to a road scraper that gulps 66 tons of dirt in 42 seconds. Last week the man responsible for this transformation showed just how good it has been for Caterpillar's business: Chairman Harmon S. Eberhard, 64, announced that first-half sales and profits were the highest in the company's 39-year history, and that Caterpillar will probably top the $1 billion mark for the first time this year. A California-born self-taught engineer who has been with the firm since its beginning, Eberhard has doubled sales...
Banks are usually good mirrors of prosperity, but the $312 billion U.S. banking industry is sharing in the current economic advance to a degree that surprises even it. Bankers, in fact, are making more money than ever before. Last week alltime high first-half earnings were reported by several banks, including the two largest ones, San Francisco's Bank of America and New York's Chase Manhattan. Despite their rising operating costs and the higher interest payments they are forced to pay to remain competitive, the nation's major banks earned 9% more...