Sunday, September 28, 2014

Connecticut 27 Largest Company Audited Profits Excluding GE Were $39.8 bil in 2 Years 2012 and 2013 vs $18.2 bil in 2 Years 2008 and 2009

Since the US Senate Races deciding who will get control of the US Senate are really heating up and many of them appear to be tossups and also since many of the US Senate fundraisers have been held in the New York Metro Area, which includes parts of Connecticut, with many more fundraisers here planned, I think it would be helpful to research how the 28 Connecticut Companies with Market Capitalizations now of at least $3 bil each and with annual audited financial statements filed with the SEC covering all years from 2007 to 2013 have done on the earnings front before, during and after the late 2008 financial meltdown.

The Total Audited Net Income from Continuing Operations of the 27 largest Connecticut Companies other than the huge GE were $39.8 bil in the Most Recent Two Years 2012 and 2013, an increase of a robust 119% over the comparable earnings of $18.2 bil for 2008 and 2009 combined.

In addition, the Total Audited Earnings of these 27 largest Connecticut Companies other than the huge GE in 2013 of $21.6 bil were up 49% over their comparable earnings in 2007 of $14.5 bil, which was the peak year earnings before the disastrous effects of the 2008 financial meltdown hit......they not only recouped the earnings they lost with the financial meltdown, but they also added another 49% of earnings.   

This strong earnings recovery for these 27 largest Connecticut Companies other than GE from 2008 to the most recent 2013 occurred when the US Senate was under Democratic control and also when Barack Obama was US President.  The US financial meltdown occurred in late 2008 when George W. Bush was US President.

The giant GE's audited earnings of $15.4 bil in the most recent 2013 were up 35% over its earnings in 2009.

Below here are the Audited Net Income (Losses) of each of these 28 largest Connecticut Companies for each of the following six years: 2013, 2012, 2011, 2009, 2008 and 2007:

2013 2012 2011 2009 2008 2007



Audited Audited Audited Audited Audited Audited


Most Net Net Net Net Net Net


Recent Income Income Income Income Income Income


FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Connecticut Company HQs
mil $s mil $s mil $s mil $s mil $s mil $s








General Electric Fairfield Dec 13        15,475        14,847        14,414        11,434        18,730        23,373









Remaining 20 Companies







United Technologies Hartford Dec 13          6,074          5,200          5,216          4,179          5,053          4,548
Aetna Hartford Dec 13          1,912          1,660          1,987          1,277          1,384          1,831
priceline.com Norwalk Dec 13          1,893          1,424          1,059              489              186              145
Praxair Danbury Dec 13          1,836          1,744          1,722          1,297          1,256          1,220
Cigna Bloomfield Dec 13          1,478          1,624          1,261          1,304              290          1,123
Xerox Norwalk Dec 13          1,205          1,212          1,307              516              265          1,165
XL Group plc Stamford Dec 13          1,137              730           (404)              643                75        (2,554)
Amphenol Wallington Dec 13              639              560              529              327              430              364
Starwood Hotels & Resorts Stamford Dec 13              565              470              500                (3)              249              533
Stanley Black & Decker New Britain Dec 13              517              464              607              229              221              323
WR Berkley Greenwich Dec 13              505              511              391              309              281              766
United Rentals Greenwich Dec 13              387                75              101              (60)           (704)              363
Hubbell Shelton Dec 13              330              302              270              181              223              208
Pitney Bowes Stamford Dec 13              320              414              456              453              468              380
Harford Financial Services Group Hartford Dec 13              310           (100)              573           (887)        (2,749)          2,949
Starwood Property Trust Greenwich Dec 13              310              204              121                  3                 -                   -  
Genesee & Wyoming Darien Dec 13              272                52              119                60                73                69
Alexion Phramaceuticals Cheshire Dec 13              253              255              175              295                33              (92)
Harman Intl Stamford Jun 14              235              142              330                40           (422)                96
People's United Financial Bridgeport Dec 13              232              245              192              101              138              149
Crane Stamford Dec 13              221              196                23              134              135              (62)
Terex Westport Dec 13              204                75                20           (450)              (70)              534
FactSet Research Systems Norwalk Aug 13              199              189              171              145              125              110
Hexcel Stamford Dec 13              188              164              136                56              111                63
Gartner Stamford Dec 13              183              166              137                83                97                71
SS&C Technologies Windsor Dec 13              118                46                51                19                19                  7
Frontier Communications Stamford Dec 13              115              153              158              123              184              217









Total all 27 but GE

       21,638        18,177        17,208        10,863          7,351        14,526







..Two Year Totals







…..2012 and 2013

       39,815




…..2008 and 2009

       18,214




…..% Increase

119%







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