Tuesday, October 7, 2014

New Jersey Company 2013 Audited Earnings Excluding JNJ and Merck Up 660% Over 2008

Since President Obama will be attending two DNC Fundraisers in New York City on today Tuesday, October 7, 2014 as well as a DSCC Fundraiser in Greenwich, CT on the outskirts of New York City also on today October 7, 2014, and since so many New Jersey residents work in New York, I think it would be helpful to research how the 38 New Jersey Headquartered 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 2008 to 2013 have done on the earnings front before, during and after the late 2008 financial meltdown.

The Total Audited 2013 Net Income from Continuing Operations of the 36 New Jersey Companies other than the two Drug Giants JNJ and Merck was $21.3 bil, an increase of a phenomenally off-the-charts 660% over the comparable earnings of only $2.8 bil in the financial meltdown year of 2008, the last year of the Presidency of George W. Bush/Dick Cheney.

In addition, the Total Audited Earnings of these 36 New Jersey Companies excluding both JNJ and Merck in 2013 were up 26% over the comparable earnings in 2007, 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 26% of earnings.  

This off-the-charts earnings recovery for these 36 largest New Jersey Companies from 2008 to the most recent 2013 occurred when Democrats controlled the US Senate, President Obama was in office and there were very effective US Fed Chairpersons. 

The 2 Drug Giants JNJ and Merck combined generated total earnings in 2013 which were 85% of that of the next 36 largest New Jersey Companies combined.  Merck had several large non-recurring items impacting its earnings in these years.  These 2 Drug Giants had their total earnings in 2013 exceed that in 2007 by 31%.  

Below here are the Audited Net Income (Loss) From Continuing Operations for each of these 38 New Jersey Companies in 2013, in 2008 and in 2007:












2013 2008 2007



Audited Audited Audited



Net Net Net



Income Income Income


FYE (Loss) (Loss) (Loss)
New Jersey Company HQs
mil $s mil $s mil $s






Honeywell Morristown Dec 13               3,962               2,812               2,460
Chubb Warren Dec 13               2,345               1,804               2,807
Automatic Data Processing Roseland Jun 14               1,503               1,325               1,156
Celgene Summit Dec 13               1,450            (1,534)                  226
Everest Re Group Ltd Liberty Corner Dec 13               1,265                  (19)                  839
Cognizant Technology Solutions Teaneck Dec 13               1,229                  431                  350
Bed Bath & Beyond Union Feb 14               1,022                  425                  563
Becton Dickinson Franklin Lakes Sep 13                  929               1,116                  842
Quest Diagnostics Madison Dec 13                  848                  664                  580
Campbell Soup Camden Jul 14                  726                  732                  671
Arch Capital Group Ltd Jersey City Dec 13                  710                  291                  858
CR Bard Murray Hill Dec 13                  690                  419                  409
CIT Group Livingston Dec 13                  682                (632)                  795
WABCO Holdings Piscataway Dec 13                  662                  216                  128
Ingersoll-Rand Piscataway Dec 13                  641            (2,547)                  747
Tyco Intl Princeton Sep 13                  524               1,095            (2,524)
Realogy Holdings Madison Dec 13                  443            (1,911)                (839)
Wyndham Worldwide Parsippany Dec 13                  433            (1,074)                  403
Church & Dwight Ewing Dec 13                  394                  195                  169
Hertz Global Holdings Park Ridge Dec 13                  346            (1,186)                  284
Verisk Analytics Jersey City Dec 13                  342                  158                  155
Dun & Bradstreet Short Hills Dec 13                  262                  312                  292
Hudson City Bancorp Paramus Dec 13                  185                  446                  296
Covance Princeton Dec 13                  179                  197                  176
Cytec Industries Woodland Park Dec 13                  172                (197)                  207
John Wiley & Sons Hoboken Apr 14                  161                  128                  148
Curtiss-Wright Parsippany Dec 13                  138                  109                  104
Investors Bancorp Short Hills Dec 13                  112                     16                     22
Foster Wheeler Clinton Dec 13                  101                  534                  399
Sealed Air Elmwood Park Dec 13                     94                  180                  353
Pinnacle Foods Parsippany Dec 13                     89                  (29)                (115)
Rockwood Holdings Princeton Dec 13                     55                (718)                     89
Burlington Stores Burlington Jan 14                     16                  (49) NA
Pacira Pharmaceutics Parsippany Dec 13                  (64)                  (42)                  (36)
Prudential Financial Newark Dec 13                (567)            (1,099)               3,709
Actavis Parsippany Dec 13                (751)                  238                  141






Total all 36 Excluding JNJ and Merck
           21,328               2,806            16,864






% Increases in Annual Earnings




…..2013 over 2008

660%

…..2013 over 2007

26%







Two NJ Drug Giants




Johnson & Johnson New Brunswick Dec 13            13,831            12,949            10,576
Merck Whitehouse Station Dec 13               4,404               7,932               3,397






Total of 2

           18,235            20,881            13,973






% Increases in Annual Earnings




…..2013 over 2007

31%


It's pretty clear to me that New Jersey Company Earnings and thus also their related Stock Market Prices in the next two years have a much better chance of being much higher under a US Senate controlled by the Democrats than one controlled by the Republicans.  Profits of US Businesses and a rising US Stock Market have resulted from and will continue to result from a very effective Trifecta of President Obama, a Democratic Majority US Senate and Janet Yellen heading the US Fed.....you need all three of these or else the three-legged stool drops precipitously.  The many financially astute New Jersey citizens are already keenly aware of this.


More details to come.
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