These 8 Largest Iowa Corps generated total earnings growth in the most recent two years of 44%.
I also found 19 Iowa headquartered Smaller Corps, which file 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 Iowa Corps. Thus, these 19 Smaller Iowa Corps also did not have Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three years.
These 19 Smaller Iowa Corps total earnings growth in the most recent two years tripled, with an off-the-charts 302% earnings growth from 2009 to 2011.
Clearly, Iowa citizens should be very proud of their superb Iowa companies.
And yeah, the Obama Administration created a very robust US economic environment, which permitted these Iowa companies to do extremely well on the earnings front in the most recent two years.
These Iowa Corps had substantially better total earnings growth in 2010 over 2009, when the US House was under Democratic Control, than in 2011 over 2010, when the US House was under Republican Control. This was particularly so of the 19 Smaller Iowa Corps, which generated 17% total earnings growth in 2011 over 2010, but an incredibly higher 243% earnings growth in 2010 over 2009. Yeah, that's more than 14 times better total earnings growth under US House Democratic control than under US House Republican Control.
In deriving Ongoing, Core 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, and ones without significant enough Total Revenues.
Below here is the Ongoing, Core Pretax Income (PTI) and Pretax Loss (PTL) of these 8 Largest and 19 Smaller Iowa Corps for each of the most recent three years, along with the related percentage changes.
| Obama | |||||||
| US House | US House | Bump | |||||
| Republican | Democratic | Two | |||||
| Control | Control | Year | |||||
| PTI(L) | PTI(L) | PTI(L) | |||||
| % | % | % | |||||
| Change | Change | Change | |||||
| PTI(L) | PTI(L) | PTI(L) | 2011 | 2010 | 2011 | ||
| HQs | 2011 | 2010 | 2009 | vs | vs | vs | |
| mils $s | mils $s | mils $s | 2010 | 2009 | 2009 | ||
| Iowa Largest Corps | |||||||
| Principal Financial Group | Des Moines | 988 | 841 | 746 | 17% | 13% | 32% |
| Rockwell Collins | Cedar Rapids | 855 | 796 | 858 | 7% | -7% | 0% |
| Sauer Danfoss | Ames | 341 | 205 | (188) | 66% | 209% | 281% |
| Caseys General Stores | Ankeny | 184 | 189 | 182 | -3% | 4% | 1% |
| Meredith | Des Moines | 173 | 212 | 167 | -18% | 27% | 4% |
| American Equity Investment Life | West Des Moines | 133 | 65 | 86 | 105% | -24% | 55% |
| FBL Financial Group | West Des Moines | 108 | 122 | 74 | -11% | 65% | 46% |
| Heartland Express | North Liberty | 107 | 93 | 81 | 15% | 15% | 32% |
| Total all 8 Largest Corps | 2,889 | 2,523 | 2,006 | 15% | 26% | 44% | |
| Iowa Smaller Corps | |||||||
| Renewable Energy Group | Ames | 85 | (4) | (22) | 2225% | 82% | 486% |
| HNI Corp | Muscatine | 70 | 55 | 23 | 27% | 139% | 204% |
| Lee Enterprises | Davenport | 46 | 42 | 20 | 10% | 110% | 130% |
| Heartland Financial | Dubuque | 38 | 35 | 26 | 9% | 35% | 46% |
| Hills Bancorporation | Hills | 38 | 33 | 21 | 15% | 57% | 81% |
| CPM Holdings | Waterloo | 36 | 4 | 24 | 800% | -83% | 50% |
| Homeland Energy Solutions | Lawler | 36 | 11 | 16 | 227% | -31% | 125% |
| Golden Grain Energy | Mason City | 27 | 18 | 4 | 50% | 350% | 575% |
| Flexsteel Industries | Dubuque | 21 | 17 | 17 | 24% | 0% | 24% |
| West Bancorporation | West Des Moines | 21 | 19 | 1 | 11% | 1800% | 2000% |
| Ames National | Ames | 18 | 17 | 11 | 6% | 55% | 64% |
| MidWest One Financial | Iowa City | 18 | 14 | 4 | 29% | 250% | 350% |
| Winnebago Industries | Forest City | 12 | 1 | (58) | 1100% | 102% | 121% |
| Meta Financial Group | Storm Lake | 10 | 20 | (2) | -50% | 1100% | 600% |
| Southwest Iowa Renewable Energy | Council Bluffs | (3) | (9) | (13) | 67% | 31% | 77% |
| EMC Insurance | Des Moines | (10) | 42 | 63 | -124% | -33% | -116% |
| Peninsula Gaming | Dubuque | (10) | 3 | 9 | -433% | -67% | -211% |
| United Fire Group | Cedar Rapids | (13) | 58 | (29) | -122% | 300% | 55% |
| Newlink Genetics | Ames | (18) | (16) | (10) | -13% | -60% | -80% |
| Total all 19 Smaller Corps | 422 | 360 | 105 | 17% | 243% | 302% |
