Monday, September 29, 2014

North Carolina Company 2013 Audited Profits Excluding Bank of America Up 122% Over 2009

Since the US Senate Race in North Carolina is heating up and also since former US President Bill Clinton will be at a fundraiser in Chapel Hill, NC for North Carolina US Senate candidate Kay Hagan tomorrow Tuesday, September 30, 2014, I think it would be helpful to research how the 34 North Carolina Companies with Market Capitalizations now of at least $1 bil each and with annual audited financial statements filed with the SEC covering all years from 2008 to 2013 have done on the earnings front.

The Total Audited 2013 Net Income from Continuing Operations of the 33 North Carolina Companies other than the giant Bank of America was $13.2 bil, an increase of an impressive 122% over the comparable earnings of $6.0 bil in 2009, which was the very low point of annual corporate profits due to the late 2008 financial meltdown.

Bank of America's 2013 Net Income of $11.4 bil, which is 86% of the Total Net Income of the other above 33 North Carolina Companies combined, was up 82% over the comparable Bank of America earnings in 2009.

This strong earnings recovery for these North Carolina Companies from 2009 to the most recent 2013 occurred when Kay Hagan was a North Carolina US Senator and also when Democrats had a majority in the US Senate.

Below here are the Audited Net Income (Loss) From Continuing Operations for each of these 34 North Carolina Companies in 2013 and in 2009, along with the related Net Income (Loss) Percentage Change: 


2013 2009 Audited



Audited Audited Net


Most Net Net Income


Recent Income Income (Loss)


FYE (Loss) (Loss) % Change
North Carolina Company HQs
mil $s mil $s






Bank of America Charlotte Dec 13            11,431               6,276 82%






Remaining 33




Lowe's Mooresville Jan 14               2,286               1,783 28%
BB&T Corp Winston-Salem Dec 13               1,729                  877 97%
Reynolds American Winston-Salem Dec 13               1,718                  962 79%
VF Corp Greensboro Dec 13               1,210                  458 164%
Lorillard Greensboro Dec 13               1,180                  948 24%
Ingersoll-Rand Davidson Dec 13                  641                  488 31%
Nucor Charlotte Dec 13                  586                (237) 347%
Laboratory Corp America Burlington Dec 13                  575                  556 3%
Family Dollar Stores Matthews Aug 13                  444                  291 53%
Hanesbrands Wimston-Salem Dec 13                  330                     51 547%
Carlisle Cos Charlotte Dec 13                  235                  152 55%
Quintiles Transnational Durham Dec 13                  226                  210 8%
Old Dominion Freight Line Thomasville Dec 13                  206                     35 489%
SPX Corp Charlotte Dec 13                  201                     48 319%
Red Hat Raleigh Feb 14                  178                     87 105%
First Citizens Bancshares Raleigh Dec 13                  168                  116 45%
Belk Inc Charlotte Jan 14                  159                     67 137%
Salix Pharmaceuticals Raleigh Dec 13                  143                  (44) 425%
Cree Durham Jun 14                  124                  152 -18%
Martin Marietta Materials Raleigh Dec 13                  120                     88 36%
Tanger Factory Outlet Centers Greensboro Dec 13                  113                     67 69%
Harris Teeter Supermarkets Matthews Sep 13                  109                     86 27%
Sonic Automotive Charlotte Dec 13                     85                     56 52%
Extended Stay America Charlotte Dec 13                     83            (1,398) 106%
Snyder's-Lance Charlotte Dec 13                     79                     36 119%
Highwoods Properties Raleigh Dec 13                     63                     38 66%
The Cato Corp Charlotte Jan 14                     54                     46 17%
The Fresh Market Greensboro Jan 14                     51                     49 4%
Krispy Kreme Doughnuts Winston-Salem Jan 14                     34                       0 NM
Polypore  Charlotte Dec 13                     33                (117) 128%
EnPro Industries Charlotte Dec 13                     27                (144) 119%
CommScope Holding Hickory Dec 13                     19                     78 -76%
RF Micro Devices Greensboro Mar 14                     13                     71 -82%






Total all Remaining 33

           13,222               5,956 122%




More details to come.
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