Wednesday, February 4, 2015

Georgia Companies Audited Earnings Were $41.3 Bil in 2013, up 30,253% Over 2008 ..... yeah, that's up more than 300 times

Since Georgia Governor Nathan Deal and the Georgia State Legislature have had very preliminary talks concerning how to substantially increase health care coverage to the many Georgia uninsured and underinsured citizens and to do so in the optimally fair way to all parties, and also since Indiana Governor Mike Pence and US Health and Human Services Cabinet Secretary Sylvia Burwell have just struck such a groundbreaking, very forward-thinking deal that accomplishes just that, as an economic backdrop, I think it would be helpful in several posts to research how Georgia companies, hospitals and the overall State of Georgia's economy have all been doing financially.

In this first post I will be addressing Georgia Companies audited earnings and losses.

From a very thorough review of SEC filings and of the Google Finance website, I found a huge number of 47 Companies headquartered in the State of Georgia with Stock Market Capitalizations of at least $1 bil now, or for non-public companies filing with the SEC with Total Stockholders' Equity of at least $1 bil now, and which also filed their annual audited financial statements with the SEC which included financial information covering all years from 2008 to 2013.

So just how have these 47 largest Georgia Companies done on the earnings front before, during and after the late 2008 financial meltdown?  Just off-the-charts incredibly well and especially the Atlanta Metro Area Companies.

The Total Audited Net Income from Continuing Operations of these 47 largest Georgia Companies was $41.310 bil in the Most Recent Fiscal Year Ended 2013, a truly spectacular 30,253% increase over the $0.137 bil Total Audited Net Losses in the financial meltdown year of 2008.

Also, the Total Audited Net Income from Continuing Operations of these 47 largest Georgia Companies of $41.310 bil in the Most Recent Fiscal Year Ended 2013 was a spectacular 49% increase over the $27.706 bil for 2012.  Delta Air Lines led this most recent year monstrously large earnings increase.

In addition, the Total Audited Earnings of these 47 largest Georgia Companies in the most recent fiscal year 2013 of $41.3 bil were up a very impressive 88% over the comparable earnings in 2007 of $22.0 bil, which was the peak year earnings before the disastrous effects of the 2008 financial meltdown hit ...... yeah, these Georgia Companies not only recouped the earnings they lost with the financial meltdown, but they have also added another 88% of earnings.

So if the question to answer is how much better off are Georgia Companies in the most recent fiscal year 2013 than they were during the financial meltdown year of 2008, the answer is more than 300 times better or $41.4 bil better as audited earnings and losses are measured by the very prestigious US accounting profession.

There has been something nearly miraculous happening with Georgia Companies Audited Earnings in the past five years, and among others, the Georgia Governors, the Atlanta Mayor and the members of the Georgia State Legislature have all undoubtedly helped here. 

Below here are the Audited Net Income (Losses) of each of these 47 largest Georgia Companies for Fiscal Year Ends (FYEs) 2013, 2012, 2011, 2010, 2009, 2008 and 2007:
2013 2012 2011 2010 2009 2008 2007



Audited Audited Audited Audited Audited Audited Audited

Most Net Net Net Net Net Net Net

Recent Income Income Income Income Income Income Income
Georgia Company HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

 $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils










Delta Airlines Atlanta Dec 13   10,540     1,009         854         593   (1,237)   (8,922)     1,612
Coca-Cola Atlanta Dec 13     8,626     9,086     8,648   11,837     6,906     5,874     6,027
Home Depot Atlanta Jan 14     5,385     4,535     3,883     3,338     2,620     2,312     4,210
United Parcel Service Atlanta Dec 13     4,372         807     3,804     3,338     2,152     3,003         382
AFLAC Columbus Dec 13     3,158     2,866     1,937     2,328     1,497     1,254     1,634
SunTrust Banks Atlanta Dec 13     1,361     1,984         660         206   (1,552)         807     1,647
Invesco Ltd Atlanta Dec 13         918         569         612         637         209         421         887
Genuine Parts Atlanta Dec 13         685         648         565         476         400         475         506
Coca-Cola Enterprises Atlanta Dec 13         667         677         749         624         576         514         524
AGCO Corp Duluth Dec 13         592         516         585         220         136         386         233
Rock-Tenn Norcross Sep 14         484         733         252         146         231         226           87
NCR Duluth Dec 13         456         475         (98)         147         (30)         230         171
Newell Rubbermaid Atlanta Dec 13         420         392         187         288         286         (50)         482
Mohawk Industries Calhoun Dec 13         367         251         178         190           (1)   (1,453)         714
Equifax Atlanta Dec 13         360         281         242         243         241         279         279
Ocwen Financial Atlanta Dec 13         294         181           78           34           (3)           19           39
FleetCor Technologies Norcross Dec 13         285         216         147         108           89           97           62
Global Payments Atlanta May 14         270         239         218         229         223         207         161
IntercontinentalExchange Group Atlanta Dec 13         270         562         522         407         314         301         241
Total System Services Columbus Dec 13         257         250         223         209         224         251         237
Flower Foods Thomasville Dec 13         231         136         123         137         134         122           98
Acuity Brands Atlanta Aug 14         176         127         116         106           85         149         129
Axiall Atlanta Dec 13         168         121           58           43         146       (258)       (255)
RPC Inc Atlanta Dec 13         167         274         296         147         (23)           83           87
Primerica Duluth Dec 13         163         174         157         232         495         168         594
Carter's Atlanta Dec 13         160         161         114         146         116           78         (76)
Synovus Financial Columbus Dec 13         159         830         (61)       (834)   (1,434)       (580)         338
Graphic Packaging Holding Atlanta Dec 13         147         120         275           11           56         (99)         (49)
Invesco Mortgage Capital Atlanta Dec 13         143         344         287         104           18            -  
Rollins Atlanta Dec 13         123         111         101           90           84           69           65
Aaron's Atlanta Dec 13         121         173         114         118         113           86           73
Cousins Properties Inc Atlanta Dec 13         112           28       (132)         (32)           29           24           18
Asbury Automotive Group Duluth Dec 13         101           83           47           35           24       (323)           46
Post Properties Atlanta Dec 13           81           83           25           (7)         (96)         (96)         107
Schweitzer-Mauduit Intl Alpharetta Dec 13           78         104           92           73           36              1           11
Piedmont Office Trust Realty Johns Creek Dec 13           71           60           84         107           63         118           99
Manhattan Associates Atlanta Dec 13           67           52           45           28           17           23           31
Mueller Water Products Atlanta Sep 14           56           35           (5)         (10)         (45)       (997)           42
Interface Atlanta Dec 13           48           23           38              9           13         (35)           59
Saia Inc Johns Creek Dec 13           44           32           11              2           (9)         (20)           17
Popeyes Louisiana Kitchen Atlanta Dec 13           34           30           24           23           19           19           23
MedAssets Alpharetta Dec 13           27           (7)         (15)         (32)           20           11              6
Columbia Property Trust Atlanta Dec 13           26           21           32           20           41         (23)           (5)
ExamWorks Group Carrollton Dec 13         (10)         (15)           (8)           (6)           (4)           (2)            -  
Arris Group Suwanee Dec 13         (49)           53         (18)           64           91       (130)           92
HD Supply Holdings Atlanta Jan 14       (209)   (1,197)       (562)       (614)       (481)   (1,148)
First Data Atlanta Dec 13       (692)       (527)       (336)       (847)   (1,015)   (3,608)         307



                           
Total all 47 Georgia Companies

  41,310   27,706   25,148   24,711   11,774       (137)   21,992










Annual Earnings % Change








…..2013 Over 2008 30,253%







…..2013 Over 2007 88%







…..2013 Over 2012                                               49%    



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