With the horrible jobless recovery, Missouri State financial coffers are severely suffering, as are many State citizens in Missouri.
However, I think it would be wise to get an update on how Missouri Big Corps have fared very recently, so we can better assess where Missouri Big Corps stand now financially, as compared with the present financial status of Missouri citizens.
With this update, I think we can get a better insight on what should constitute a fair sharing of the financial burden to balance the State Budget between Missouri Big Corps and Missouri citizens. And frankly, Big Corps outside of Missouri, including foreign-owned Big Corps, that do business in Missouri, should also be included in this mix of a fair sharing of this very expensive financial burden to balance the State Budget of Missouri.
Let me show you below just how Missouri's 17 largest publicly-held Corps did as was disclosed in either their most recent annual Fiscal Year Ended (FYE) 2010 earnings releases or in their most recent SEC annual report filings:
Missouri 17 Largest Publicly-Held Corps Most Recent Annual Pretax Earnings (PTI)
...................................................................................Increase....
........................................FYE.......PTI.........PTI........(Decrease)...
Missouri Big Corp...........2010......2010......2009.....Amount....%..
.......................................................(millions of dollars)......
Emerson Electric(1)..........Sep…...3,003.....2,346........657.....28%
Express Scripts.................Dec......1,909.....1,308........601.....46%
Monsanto(2).....................Aug…...1,566.....2,189......(623)...(28)%
Peabody Energy................Dec......1,113.......652........461......71%
Ameren(3)........................Dec…...1,065.......956........109......11%
Reinsurance Group...........Dec........864........592........272.....46%
H&R Block........................Apr........784........839........(55)......(7)%
O'Reilly Automotive.........Dec........689........497........192......39%
Sigma Aldrich...................Dec........544........490.........54......11%
Energizer Holdings...........Sep…......543........445.........98......22%
DST Systems.....................Dec........477........355........122......34%
Amdocs, Ltd.....................Dec….....385........366..........19........5%
Ralcorp Holdings..............Sep........314........438.......(124)....(28)%
Great Plains Energy..........Dec........312........182.........130......71%
Kansas City Southern........Dec........289........102........187.....183%
Jones Financial(4)............Dec….....278........188..........90.......48%
Leggett & Platt..................Dec….....256........198..........58.......29%
Total 17 MO Big Corps................14,391...12,143.....2,248......19%
(1) Emerson Electric's numbers are for the 12 months ended December.
(2) Monsanto's numbers are for the 12 months ended November.
(3) Ameren's 2010 PTI excludes large Asset Impairment Charge.
(4) Jones Financial numbers are for the 9 months ended September.
Yeah, Missouri's 17 largest Corps registered a strong 19% increase in Total Pretax Income in 2010. But that's not the main story from studying these companies.
The main story here is of the incredible acceleration of this Earnings Growth very recently by the 6 largest Non-Utility Missouri Big Corps.
As you can see below, the Total Earnings Growth for these 6 Missouri Big Corps was only 3% for their entire most recent fiscal year end 2010. However, this Total Earnings Growth for these 6 Missouri Big Corps accelerated dramatically to 66% in the most recent quarter end. Whoa!....now that is what I call moving the Earnings Needle quickly.
..........................Most................................Most
........................Recent.Year.Year.Year.Recent..Qtr...Qtr..Qtr...
..........................2010..2010..2009...%.....2010..2010..2009...%
..........................FYE....PTI......PTI...Chg.....Qtr.....PTI....PTI...Chg
...................................(mils of $s).......................(mils of $s)
MO 6 Largest Non-Utility Corps
Emerson Electric.Sep.2,879...2,450..18%...Dec....713...584...22%
Express Scripts...Dec..1,909...1,308..46%...Dec....519...353...47%
Monsanto...........Aug..1,494...2,967.(50)%.Nov.....18...(54)..133%
Peabody Energy..Dec..1,113......652..71%...Dec....266...142...87%
Reinsurance Grp.Dec.....864......592..46%...Dec....275...160...72%
H & R Block.........Apr....784......839...(7)%..Oct...(175).(213)..18%
Total..........................9,043...8,808...3%...........1,616...972..66%
The above research, where I found 17 Missouri Big Corps, was performed through the end of March 2011. Since then, in April and May 2011, I extended this research, and I found 2 additional Missouri Big Corps, which are shown here below.
..........................................2010.......2009.........Increase
...........................................Core........Core........(Decrease)
.......State..........................PTI(L)......PTI(L).....Amount.....%
..............................................(millions of dollars)....
Late Big Corp Additions
Missouri (2)
Cerner.................................362.............293............69.....24%
Commerce Bancshares.........318.............242............76.....31%
