Friday, October 5, 2012

Red State Louisiana Audited Corporate Earnings Up 94% During Obama Administration

From an extensive review of SEC filings, I found 17 Corps headquartered in the Red State of Louisiana with externally audited under US Generally Accepted Accounting Principles (US GAAP) After-tax Net Income or Net Loss from Continuing Operations of at least $50 mil in any of the most recent five fiscal years.

These 17 Largest Louisiana Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $986 mil in the most recent fiscal year 2011, which was an increase of a very robust 94% above the Total After-tax Net Income of $508 mil generated by these same 17 Largest Louisiana companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.

So if the question to be answered is whether, in the aggregate, these 17 Largest Louisiana Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is yes, and by $478 mil better, or by 94% better, as audited earnings performance is measured by the prestigious US Accounting Profession.

So it's not just the Blue States and Swing States which have had their largest and somewhat largest corporations generate very strong earnings growth during the Obama Administration.   Corporations in nearly all Red States, including Louisiana, have done likewise.  This just shows that the Obama Administration has been evenhanded in focusing on creating an excellent US economic environment that have permitted businesses all throughout the country to prosper.

In focusing on the annual total earnings changes, these Louisiana companies had very healthy double-digit percentage total earnings growth in both 2009 and 2010, when both the US House and the US Senate were under Democratic control.  However, these Louisiana companies experienced a double-digit percentage total earnings decline in 2011, after the November 2010 Tea Party election.

Below here is the Audited under US GAAP After-tax Net Income or Net Loss from Continuing Operations for each of these 17 Largest Louisiana Corps for each of the most recent five fiscal years.  The clear majority of these 17 Corporations have a December Fiscal Year End (FYE).





FYE FYE FYE FYE FYE


2011 2010 2009 2008 2007


Reported Reported Reported Reported Reported


Audited Audited Audited Audited Audited


After-Tax After-Tax After-Tax After-Tax After-Tax


Net Income Net Income Net Income Net Income Net Income

  (Loss) (Loss) (Loss) (Loss) (Loss)

HQs mil $s mil $s mil $s mil $s mil $s
Louisiana Largest Corps
         
CenturyLink Monroe 573 948 647 366 418
Albemarle Baton Rouge 464 337 190 213 247
Stone Energy Lafayette 194 96 (218) (1,147) 181
Superior Energy Services Harvey 143 82 (102) 351 272
Tidewater New Orleans 87 106 259 407 349
Pool Covington 72 58 19 57 69
Iberiabank Lafayette 54 49 158 40 41
Energy Partners, Ltd New Orleans 27 (8) (57) (52) (80)
Amerisafe Deridder 24 35 48 45 51
Petroquest Energy Lafayette 11 47 (90) (97) 41
Lamar Advertising Baton Rouge 9 (40) (58) 2 41
H&E Equipment Services Baton Rouge 9 (25) (12) 43 65
Hornbeck Offshore Services Covington (3) 36 50 116 91
McMoRan Exploration New Orleans (7) (117) (205) (211) (64)
Edgen Murray II, LP Baton Rouge (25) (98) (21) 73 3
Shaw Group Baton Rouge (175) 82 13 141 (19)
Amedisys Baton Rouge (471) 211 238 161 98





 
Total all 17 Largest Louisiana Corps 986 1,799 859 508 1,804







Annual Increase (Decrease)





…..Amount
(813) 940 351 (1,296)
…..Percentage
-45% 109% 69% -72%







Three Year Increase (2008-2011) Under Obama




…..Amount
478



…..Percentage
94%