These 49 Florida Corps registered Total Pretax Income in 2011 of $18.9 bil, up 10% over 2010, and up by an extremely robust 85% over 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 and Losses on both Debt Retirements and Asset Dispositions.
Unlike nearly every other large US State, Florida does not have any extremely large companies. CSX, Florida’s most profitable company, with Pretax Income of $2.9 bil in 2011, is only #108 on the list of most profitable US companies which file with the SEC. Publix Super Markets is #135 and Carnival Cruise Lines is #157.
Instead, Florida is composed of many fine, well run, somewhat smaller companies, located all throughout the State.
This 85% total earnings growth in the most recent two years is particularly noteworthy since these 49 Florida Corps are in so many different industries, as you can see from the following chart.
Florida Corporation | Florida HQs | Sector |
CSX | Jacksonville | Transportation: Railroads |
Publix Super Markets | Lakeland | Retail |
Carnival | Miami | Leisure and Entertainment |
Harris Corp | Melbourne | Technology: US Defense |
Fidelity Natl Info Svcs | Jacksonville | Financial |
Darden Restaurants | Orlando | Retail |
Royal Caribbean | Miami | Leisure and Entertainment |
Roper Industries | Sarasota | Industrial Instruments |
Jabil Circuit | St Petersburg | Technology |
AutoNation | Fort Lauderdale | Retail |
Raymond James Fincl | St Petersburg | Financial |
Citrix Systems | Fort Lauderdale | Technology |
Wellcare Health Plans | Tampa | Health Care |
Fidelity Natl Fincl | Jacksonville | Financial |
Mednax | Sunrise | Health Care |
Health Mgt Associates | Naples | Health Care |
Tupperware | Orlando | Home Products |
BE Aerospace | Wellington | Public Buildings |
Tech Data | Clearwater | Technology |
Rayonier | Jacksonville | REIT: Forest Products |
Lincare Holdings | Clearwater | Health Care |
Ryder System | Miami | Motor Vehicle Leasing |
Brown & Brown | Tampa | Financial |
World Fuel Services | Miami | Wholesaling |
BankUnited | Miami Lakes | Financial |
Lender Processing Svcs | Jacksonville | Financial |
Chicos FAS | Ft Myers | Retail |
HSN | St Petersburg | Retail |
Watsco | Coconut Grove | Wholesaling |
Landstar System | Jacksonville | Transportation: Trucking |
Burger King Holdings | Miami | Retail |
Mastec | Coral Gables | Construction |
Heico | Hollywood | Aircraft Engines & Parts |
NCL Corp, Ltd | Miami | Leisure and Entertainment |
Geo Group | Boca Raton | Facility Support Mgt |
Spirit Airlines | Miramar | Air Transportation |
PSS World Medical | Jacksonville | Health Care |
International Speedway | Daytona Beach | Leisure and Entertainment |
Fresh Del Monte Produce | Coral Gables | Foods |
Metals USA Holdings | Fort Lauderdale | Wholesaling |
Lennar | Miami | Homebuilding |
BFC Financial | Fort Lauderdale | Financial |
Office Depot | Boca Raton | Retail |
BankAtlantic Bancorp | Fort Lauderdale | Financial |
SBA Communications | Boca Raton | Communication Services |
AV Homes | Kissimmee | Homebuilding |
Late Additons
| Marriott Vacations Worldwide | Orlando | Real Estate Agents & Managers |
| EverBank Financial | Jacksonville | Savings Institutions |
| Seacor Holdings | Ft Lauderdale | Deep Sea Foreign Transportation of Freight |
| Syniverse Holdings | Tampa | Communication Services |
Clearly, the Obama Administration has created an economic environment in the past two years that has permitted these Florida Corporations to flat out flourish. Florida citizens should be extremely proud of the operating performance in the most recent two years of their superb Florida Corporations.
Below here is the Pretax Income (PTI) and Pretax Loss (PTL) of these 49 Florida Corps for each of the most recent three years, with the most recent fiscal year ends ranging from May 2011 to January 2012. BankUnited’s below 2009 Pretax Loss is for the 15 months ended December 31, 2009, since the 12 months ended December 31, 2009 information wasn’t available.
First, here are the 4 Late Additions and 1 Late Deletion, which are not included in the below chart:
| Obama | |||||
| Bump | |||||
| PTI(L) | PTI(L) | ||||
| 1 Year | 2 Year | ||||
| PTI(L) | PTI(L) | PTI(L) | % | % | |
| 2011 | 2010 | 2009 | Change | Change | |
| mils $s | mils $s | mils $s | |||
| Florida |
| Late Additions | |||||
| Marriott Vacations Worldwide | 110 | 112 | (2) | -2% | 5600% |
| EverBank Financial | 82 | 182 | 88 | -55% | -7% |
| Seacor Holdings | 27 | 328 | 163 | -92% | -83% |
| Syniverse Holdings | 7 | 145 | 106 | -95% | -93% |
| Late Deletion | |||||
| Metals USA | 99 | 18 | (86) | 450% | -215% |
| Grand Total 49 | 18,878 | 17,107 | 10,219 | 10% | 85% |
And then below here are the first 46:
| Obama | |||||
| Bump | |||||
| PTI(L) | PTI(L) | ||||
| 1 Year | 2 Year | ||||
| PTI(L) | PTI(L) | PTI(L) | % | % | |
| 2011 | 2010 | 2009 | Change | Change | |
| mils $s | mils $s | mils $s | |||
| Florida | |||||
| CSX | 2,888 | 2,546 | 1,746 | 13% | 65% |
| Publix Super Markets | 2,262 | 2,039 | 1,775 | 11% | 27% |
| Carnival | 1,912 | 1,979 | 1,806 | -3% | 6% |
| Harris Corp | 881 | 840 | 741 | 5% | 19% |
| Fidelity Natl Info Svcs | 744 | 771 | 301 | -4% | 147% |
| Darden Restaurants | 648 | 544 | 513 | 19% | 26% |
| Royal Caribbean | 607 | 516 | 152 | 18% | 299% |
| Roper Industries | 605 | 448 | 340 | 35% | 78% |
| Jabil Circuit | 481 | 247 | 18 | 95% | 2572% |
| AutoNation | 461 | 381 | 349 | 21% | 32% |
| Raymond James Fincl | 451 | 356 | 236 | 27% | 91% |
| Citrix Systems | 430 | 334 | 194 | 29% | 122% |
| Wellcare Health Plans | 418 | 193 | 198 | 117% | 111% |
| Fidelity Natl Fincl | 415 | 549 | 315 | -24% | 32% |
| Mednax | 353 | 311 | 288 | 14% | 23% |
| Health Mgt Associates | 337 | 287 | 228 | 17% | 48% |
| Tupperware | 331 | 300 | 265 | 10% | 25% |
| BE Aerospace | 323 | 211 | 205 | 53% | 58% |
| Tech Data | 323 | 304 | 235 | 6% | 37% |
| Rayonier | 306 | 233 | 154 | 31% | 99% |
| Lincare Holdings | 290 | 298 | 223 | -3% | 30% |
| Ryder System | 279 | 186 | 144 | 50% | 94% |
| Brown & Brown | 271 | 266 | 255 | 2% | 6% |
| World Fuel Services | 238 | 178 | 150 | 34% | 59% |
| BankUnited | 303 | 313 | (1,034) | -3% | 129% |
| Lender Processing Svcs | 303 | 510 | 482 | -41% | -37% |
| Chicos FAS | 224 | 179 | 110 | 25% | 104% |
| HSN | 200 | 164 | 121 | 22% | 65% |
| Watsco | 195 | 162 | 78 | 20% | 150% |
| Landstar System | 180 | 136 | 110 | 32% | 64% |
| Burger King Holdings | 168 | 284 | 285 | -41% | -41% |
| Mastec | 145 | 154 | 79 | -6% | 84% |
| Heico | 138 | 109 | 88 | 27% | 57% |
| NCL Corp, Ltd | 127 | 23 | 67 | 452% | 90% |
| Geo Group | 124 | 106 | 112 | 17% | 11% |
| Spirit Airlines | 123 | 20 | 65 | 515% | 89% |
| PSS World Medical | 119 | 110 | 84 | 8% | 42% |
| International Speedway | 114 | 75 | 48 | 52% | 138% |
| Fresh Del Monte Produce | 101 | 60 | 132 | 68% | -23% |
| Metals USA Holdings | 99 | 18 | (86) | 450% | 215% |
| Lennar | 98 | 95 | (760) | 3% | 113% |
| BFC Financial | 45 | (146) | (325) | 131% | 114% |
| Office Depot | 33 | (6) | (285) | 650% | 112% |
| BankAtlantic Bancorp | (68) | (145) | (221) | 53% | 69% |
| SBA Communications | (125) | (144) | (141) | 13% | 11% |
| AV Homes | (149) | (36) | (62) | -314% | -140% |
| Total all 46 | 18,751 | 16,358 | 9,778 | 15% | 92% |
