In an earlier post, I found 29 US Broad-based Manufacturing Corps, which file with
the SEC, which reported their calendar December 2012
quarterly
earnings through February 1, 2013, and which reported
Adjusted After-tax Net Income or Net Loss of at least $100 mil in either
the 4Q 2012 or in the 4Q 2011.
These 29 Early Reporting US Broad-based Manufacturing Corps generated Total Adjusted After-tax Net Income in the 4Q 2012 which was down 3% from the like earnings generated in the 4Q 2011.
Below here is the link of this earlier post.
US Broad-based Manufacturing Corps 4Q 2012 Earnings Down 3%
Since then, from Feb 2, 2013 through today February 21, 2013, there have been another 10 like US Broad-based Manufacturing Corps which have reported their calendar December 2012 quarterly earnings.
How did they do?
Well, also not well.
These 10 Late Earnings Reporting US Broad-based Manufacturing Corps generated Total Adjusted After-tax Net Income in the 4Q 2012 which was down 1% from the like earnings generated in the 4Q 2011.
The main positive earnings contributor was General Motors.
On the downside, 6 of these 10 Manufacturing Corps had down earnings in the 4Q 2012 as compared with the 4Q 2011. The main earnings decliner here was Cummins.
Clearly, the US Broad-based Manufacturing Corps are desperately in need of a huge dose of fiscal stimulus. The Obama Administration is spot on in its many proposals to shore up the US Manufacturing sector, where many of the good-paying full-time US jobs are located.
Below here is the Adjusted After-tax Net Income of each of these 10 Late Earnings Reporting US Broad-based Manufacturing Corps in the 4Q 2012 and in the 4Q 2011:
| 4Q 2012 | 4Q 2011 | |||
| Non-GAAP | Non-GAAP | |||
| Adjusted | Adjusted | Increase | Increase | |
| Net | Net | (Decrease) | (Decrease) | |
| Income | Income | Amount | % | |
| mils of $s | mils of $s | mils of $s | ||
| Broad-Based Manufacturing Late Earnings Reporters | ||||
| GM | 804 | 651 | 153 | 24% |
| Emerson Electric | 454 | 371 | 83 | 22% |
| Cummins | 365 | 491 | (126) | -26% |
| Eaton | 316 | 366 | (50) | -14% |
| TRW Automotive | 199 | 238 | (39) | -16% |
| Autoliv | 153 | 165 | (12) | -7% |
| Lear | 145 | 131 | 14 | 11% |
| Flowserve | 142 | 125 | 17 | 14% |
| Borg Warner | 137 | 152 | (15) | -10% |
| AGCO | 98 | 142 | (44) | -31% |
| Total all 10 | 2,813 | 2,832 | (19) | -1% |
