Word: nine-month
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...automakers built 129,170 cars last week, the most since June and nearly 10% more than during the same week last year. And strong earnings reports kept rolling in from dozens of big and little companies. In electronics and appliances, General Electric, Motorola, Westinghouse, all had better nine-month earnings than last year. Oil companies such as Cities Service, Ohio Oil, Standard Oil of California, Standard Oil of New Jersey also posted new gains; Jersey Standard had an alltime record of $660 million for 1957's first nine months, 9½% better than...
...profits comparable to still generally rising sales volumes. Union Carbide Corp., for example, raised its sales 7% (from $331.3 million for the quarter to $355.5 million), but was able to eke out only a 1.2% increase in earnings (from $33.6 million to $34 million). Radio Corp. of America had nine-month sales of $853.7 million, 5% over 1956's alltime high, though profits rose only 2% (from $27.8 million to $28.3 million...
Despite below-capacity operation in many segments of the steel industry, Republic Steel raised its nine-month earnings 30%, for a record $73 million, and Inland Steel lifted its nine-month net to $43 million, 18% over 1955, its best previous year. Among the oil companies, hurt by overproduction, Socony Mobil and Shell Oil both reported profit dips. But Phillips Petroleum and Texas Co. reported 1957 profits ahead...
...peak. Construction volume in September rose to $4.6 billion, up 4% over a year earlier. And the first earnings reports for 1957's third quarter showed that companies were still making record profits. American Telephone & Telegraph and International Business Machines both posted new highs. IBM with a nine-month net before taxes of $130 million, some $25 million more than in 1956. Taking note of stock-market jitters, the staff of the congressional Joint Economic Committee advised businessmen not to be unduly concerned over recent stock price movements. "Such movements in the past have not proved to be good...
...quarter earnings at $188 million, somewhat below the first quarter but still enough to push the company's first-half net to an alltime peak of $425 million, some $33 million better than 1956. On a smaller scale, California's Superior Oil Co. did even better, with nine-month (ending May 31) profits of $15.7 million (equal to $37.20 per share), for a 412% jump over the previous year...