These 8 Largest Arkansas Corps generated Total Pretax Income in 2011 which was up 19% from such amount two years earlier in 2009. And exclusive of the very well-run Giant Walmart, the remaining 7 Largest Arkansas Corps had their Total Pretax Income increase by an off-the-charts 117% in the most recent two years.
Now I wanted to see if these solid earnings also applied to the even smaller Arkansas Corps, which file with the SEC.
I found 9 Arkansas headquartered Smaller Corps filing with the SEC, which had Pretax Income or Pretax Loss of $10 mil or more in any of the most recent three years, and which weren't included in the 8 Largest Arkansas Corps. Thus, these 9 Smaller Arkansas Corps also did not have Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three years.
How did they do? Well, these 9 Smaller Arkansas Corps generated total earnings growth in the most recent two years of a very robust 69%.
Clearly, Arkansas citizens should be very proud of their many fine Arkansas companies, of all sizes.
And yeah, the Obama Administration created a very robust US economic environment, which permitted these fine Arkansas companies of all sizes to do very well on the earnings front in the most recent two years.
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.
I use Pretax Income rather than After-tax Net Income, since so much of the change in effective income tax rates just happens due to financial engineering.
I excluded Corps in the Development Stage.
Let me first show each of the 8 Largest and 9 Smaller Arkansas Corps, and where they are Headquartered.
| Arkansas Corporation | Arkansas HQs |
| Largest Corps | |
| Walmart | Bentonville |
| Murphy Oil | El Dorado |
| Tyson Foods | Springdale |
| JB Hunt Transport | Lowell |
| Windstream | Little Rock |
| Dillards | Little Rock |
| Arkansas Best | Fort Smith |
| TransAmerica Advisors Life Insurance | Little Rock |
| Smaller Corps | |
| Acxiom | Little Rock |
| America's Carmart | Bentonville |
| Bank of the Ozarks | Little Rock |
| Deltic Timber | El Dorado |
| First Federal Bancshares of Arkansas | Harrison |
| Home Bancshares | Conway |
| PAM Transportation Services | Tontitown |
| Simmons First National | Pine Bluff |
| USA Truck | Van Buren |
And below here is the Pretax Income (PTI) and Pretax Loss (PTL) of these 8 Largest and 9 Smaller Arkansas Corps for each of the most recent three years, along with the related percentage changes.
| Obama | ||||||
| Bump | ||||||
| Two | ||||||
| PTI(L) | PTI(L) | Year | ||||
| % | % | % | ||||
| Change | Change | Change | ||||
| PTI(L) | PTI(L) | PTI(L) | 2011 | 2010 | 2011 | |
| 2011 | 2010 | 2009 | vs | vs | vs | |
| mils $s | mils $s | mils $s | 2010 | 2009 | 2009 | |
| Arkansas Largest Corps | ||||||
| Walmart | 24,398 | 23,538 | 22,118 | 4% | 6% | 10% |
| Murphy Oil | 1,920 | 1,389 | 1,235 | 38% | 12% | 55% |
| Tyson Foods | 1,074 | 1,203 | 17 | -11% | 6976% | 6218% |
| JB Hunt Transport | 416 | 320 | 224 | 30% | 43% | 86% |
| Windstream | 410 | 508 | 649 | -19% | -22% | -37% |
| Dillards | 353 | 269 | 85 | 31% | 216% | 315% |
| Arkansas Best | 9 | (54) | (166) | 117% | 67% | 105% |
| TransAmerica Advisors Life Insurance | 4 | 113 | (111) | -96% | 202% | 104% |
| Total all 8 Largest Corps | 28,584 | 27,286 | 24,051 | 5% | 13% | 19% |
| Arkansas Smaller Corps | ||||||
| Bank of the Ozarks | 86 | 56 | 56 | 54% | 0% | 54% |
| Acxiom | 85 | 80 | 75 | 6% | 7% | 13% |
| Home Bancshares | 84 | (11) | 39 | 840% | -128% | 115% |
| America's Carmart | 53 | 45 | 42 | 18% | 7% | 26% |
| Simmons First National | 36 | 33 | 35 | 9% | -6% | 3% |
| Deltic Timber | 4 | 19 | 5 | -79% | 280% | -20% |
| PAM Transportation Services | (6) | (2) | (18) | -200% | 89% | 67% |
| First Federal Bancshares of Arkansas | (19) | (5) | (45) | -280% | 89% | 58% |
| USA Truck | (19) | (3) | (9) | -833% | 67% | -111% |
| Total all 9 Smaller Corps | 304 | 212 | 180 | 43% | 18% | 69% |
