Profits elude more firms
It was a tough year for the bottom line. Local companies trading on U.S. stock exchanges posted a combined profit of $7.6 billion, down $2 billion, or 21 percent, from the previous year.
Of the 50 companies in this year’s Annual Report, only 14 managed to increase net income. Another 21 stayed in the black, but saw profits decline.
The remaining 15 companies recorded losses. A year ago, only 9 went into the red.
Like the revenue snapshot, five companies with the largest profits accounted for most of the region’s profits . Monsanto, Emerson, Express Scripts, Ameren and Peabody Energy posted profits totaling $5.7 billion, down 15 percent.
Excluding those top five, the area’s combined profits tumbled 34 percent.
Filed under: money by John