The Total Pretax Income of these 28 US Big Transportation Corps was $34.7 bil in 2011, up 11% from 2010, despite the total fuel costs for the 12 of them which spend the most on fuel being up 44% over 2010.
And the Total Pretax Income of these 28 US Big Transportation Corps in 2011 increased by an off-the-charts 143% as compared with 2009.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Asset Impairments and Gains/Losses on Debt Retirements.
I don't think it is good for the US economy to have the 2011 Total Pretax Income growth of the 80 largest US Big Oil Corps of 39%, which not just crushes, but is even the main cause of, the lower 11% earnings growth in 2011 of these key 28 US Big Transportation Corps. And by far the main driver of this 39% earnings growth of these US Big Oil Corps was simply substantially higher oil prices in the market, unfortunately driven in part by oil speculation.
Clearly, the Obama Administration has created a US economic environment which has permitted these US Big Transportation Corps to flat out thrive.
Below here is the Pretax Income of these 28 US Big Transportation Corps for each of the most recent three years.
| Obama | |||||
| Bump | |||||
| PTI | PTI | ||||
| 1 Year | 2 Year | ||||
| PTI | PTI | PTI | % | % | |
| 2011 | 2010 | 2009 | Change | Change | |
| mils $s | mils $s | mils $s | |||
| Transportation | |||||
| United Parcel Service | 5,776 | 5,290 | 3,073 | 9% | 88% |
| Boeing | 5,393 | 4,507 | 1,731 | 20% | 212% |
| Union Pacific | 5,264 | 4,433 | 2,974 | 19% | 77% |
| BurlingtonNoSantaFe | 4,741 | 3,988 | 2,641 | 19% | 80% |
| Norfolk Southern | 2,918 | 2,367 | 1,622 | 23% | 80% |
| CSX | 2,888 | 2,546 | 1,746 | 13% | 65% |
| FedEx | 2,265 | 1,894 | 1,577 | 20% | 44% |
| United Continental | 845 | 354 | (321) | 139% | 363% |
| Delta Air Lines | 837 | 999 | (1,498) | -16% | 156% |
| CH Robinson | 695 | 624 | 587 | 11% | 18% |
| Expeditors Intl | 638 | 564 | 403 | 13% | 58% |
| KansasCitySouthern | 455 | 357 | 102 | 27% | 346% |
| JB Hunt Transport | 416 | 320 | 224 | 30% | 86% |
| Alaska Air | 394 | 406 | 203 | -3% | 94% |
| Southwest Airlines | 323 | 745 | 164 | -57% | 97% |
| Transdigm | 301 | 251 | 251 | 20% | 20% |
| Huntington Ingalls | 296 | 206 | 176 | 44% | 68% |
| Kirby | 295 | 190 | 206 | 55% | 43% |
| Spirit AeroSystem | 280 | 298 | 273 | -6% | 3% |
| WestinghouseAirBrake | 255 | 187 | 163 | 36% | 56% |
| Triumph | 234 | 126 | 136 | 86% | 72% |
| OldDominionFreight | 220 | 124 | 57 | 77% | 286% |
| Atlas Air WW | 157 | 233 | 124 | -33% | 27% |
| Tidewater | 148 | 268 | 492 | -45% | -70% |
| US Airways | 90 | 502 | (243) | -82% | 137% |
| Seacor Holdings | 53 | 373 | 215 | -86% | -75% |
| YRC Worldwide | (362) | (401) | (1,083) | 10% | 67% |
| AMR | (1,148) | (506) | (1,752) | -127% | 34% |
| Total all 28 | 34,667 | 31,245 | 14,243 | 11% | 143% |
