Saturday, October 6, 2012

Red State Mississippi Audited Corporate Earnings Up 461% During Obama Administration

From an extensive review of SEC filings, I found 10 Corps headquartered in the Red State of Mississippi with externally audited under US Generally Accepted Accounting Principles (US GAAP) After-tax Net Income or Net Loss from Continuing Operations of at least $30 mil in any of the most recent five fiscal years.

These 10 Largest Mississippi Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $307 mil in the most recent fiscal year 2011, which was an earnings improvement of $392 mil, or up 461% as compared with the Total After-tax Net Loss of $85 mil generated by these same 10 Largest Mississippi 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 10 Largest Mississippi Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is yes, and by $392 mil better, or by 461% 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 excellent earnings growth during the Obama Administration.   Corporations in nearly all Red States, including Mississippi, 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.

Below here is the Audited under US GAAP After-tax Net Income or Net Loss from Continuing Operations for each of these 10 Largest Mississippi Corps for each of the most recent five fiscal years.  A clear majority of these 10 Corporations have a December Fiscal Year End (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
Mississippi Largest Corps          
Trustmark Jackson 107 101 93 92 109
Callon Petroleum Natchez 104 8 47 (439) 15
Cal-Maine Foods Jackson 90 58 66 80 152
Hancock Holdings Gulfport 77 52 75 65 74
BancorpSouth Tupelo 38 23 83 120 138
Renasant Tupelo 26 32 19 24 31
EastGroup Properties Jackson 23 19 27 33 29
First M&F Kosciusko 4 4 (60) 1 14
Parkway Properties Jackson (35) (11) (14) (18) 11
Sanderson Farms Laurel (127) 134 82 (43) 79

Total all 10 Largest Mississippi Corps 307 420 418 (85) 652

Annual Increase (Decrease)

(113) 2 503 (737)
-27% 0% 592% -113%

Three Year Increase (2008-2011) Under Obama