Thursday, April 12, 2012

US Big Wholesaling Corps 2011 Annual Earnings on Fire Under Obama

I found 14 Big US Wholesaling Corps, which file with the SEC, and which generated Pretax Income or Pretax Losses of more than $200 mil in any of the most recent three years.

The earnings of these US Big Wholesaling Corps have rocketed under the Obama Administration.....not nearly as well as the Manufacturing Corps, whose earnings growth absolutely skyrocketed, but still just great.

For the most recent year 2011, these 14 US Big Wholesalers registered Total Pretax Income of $9.3 bil, which was an increase of a robust 28% over 2010, and an increase of an even more robust 63% over 2009.


These wholesalers below do not include the Big Drug Wholesalers, which I included with an earlier Health Care Corp post.  These Big Drug Wholesalers also did quite well during the Obama Administration, with their Total Pretax Income in the most recent two years up 48%. 

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 Impairment Charges.

Clearly, the Obama Administration has created a US economic environment which has permitted these US Big Wholesalers to flat out flourish.

Below here is the Pretax Income of these 14 US Big Wholesaling Corps for each of the most recent three years.





Obama





Bump




PTI PTI

1 Year 2 Year

PTI(L) PTI(L) PTI(L) % %

2011 2010 2009 Change Change
mils $s mils $s mils $s

Wholesalers




Food and Grocery




Sysco 1,827 1,850 1,771 -1% 3%
CHS 1,148 584 504 97% 128%
Universal Corp 243 257 197 -5% 23%




Electronics


Avnet 871 585 316 49% 176%
Arrow Electronics 810 679 189 19% 329%
Anixter 304 212 98 43% 210%
Wesco Intl 279 158 137 77% 104%




Other


WW Grainger 1,052 854 660 23% 59%
Genuine Parts 891 762 644 17% 38%
Reliance Steel 512 297 196 72% 161%
Airgas 450 355 429 27% 5%
MSC Industrial Direct 349 241 202 45% 73%
LKQ Corp 336 270 205 24% 64%
World Fuel Services 238 178 150 34% 59%




Total all 14 9,310 7,282 5,698 28% 63%