Wednesday, June 3, 2015

Texas Non-Oil & Gas Companies 2014 and 2013 Two Year Audited Earnings were $90.581 Bil, Up 134 Times 2009 and 2008 Two Year Audited Earnings of $0.669 Bil ..... Driven In Part By President Obama, the US Fed, Texas Democratic US House Members and Texas Democratic City Mayors

From a very thorough review of SEC filings, I found a huge number of 116 Non-Oil & Gas Companies headquartered in Texas with Stock Market Capitalizations now of at least $1 bil, or for Non-Public Companies, Total Stockholders' Equity of at least $1 bil or Total Stockholders' Deficit of at least $1 bil.

So just how have these 116 largest Texas Non-Oil & Gas Companies done on the earnings front before, during and after the 2008/2009 financial meltdown?  Just spectacularly off-the-charts earnings improvement.

The Total Audited Net Income from Continuing Operations of these 116 largest Texas Non-Oil & Gas Companies for the two most recent fiscal years 2014 and 2013 combined was a gargantuan $90.581 bil, an increase of an exceptionally off-the-charts 13,440% over the reported $0.669 bil comparable two-year Total Earnings generated by these same companies in their 2008/2009 fiscal year ends.

So if the question to answer is how much better off are these largest Texas Non-Oil & Gas Companies now in their most recent two years than they were during their 2008/2009 financial meltdown fiscal years, the answer is 134 times better, or nearly $90 bil better, as audited earnings under US generally accepted accounting principles (US GAAP) are measured by the very prestigious US accounting profession.

There has been something upwardly explosive happening with the Audited Earnings of Texas Non- Oil & Gas Companies and among others, President Obama, Texas US House Democratic Members Joaquin Castro, Henry Cuellar, Lloyd Doggett, Al Green, Gene Green, Ruben Hinojosa, Eddie Bernice Johnson, Sheila Jackson Lee, Beto O'Rourke, Marc Veasey and Filemon Vela, present and former large Texas City Mayors Annise Parker (Houston), Julian Castro (San Antonio), Mike Rawlings (Dallas), Steve Adler and Lee Leffingwell (Austin), Mike Moncrief (Fort Worth) and John Cook and Oscar Leeser (El Paso), as well as the US Fed have all undoubtedly helped here.

To illustrate just how economically substantial the 5 largest Texas Cities are and how much better they are now doing, below here is the Two-Year Total Earnings Improvement from 2008-2009 to 2013-2014 for all Texas Companies located in each of their 5 city borders.  Excluded here are the many large Texas Companies headquartered in these 5 city suburbs.

 Two-Year

Earnings

Improvement

mil $s


Houston 24,708
Dallas  22,770
Fort Worth  16,762
San Antonio  11,171
Austin    8,751


Total all 5 Largest Texas Cities 84,162

Yeah, the Two-Year Total Earnings Improvement of Texas Companies located within the borders of these 5 largest Texas cities is $84.162 bil, a massive 94% of the $89.912 bil Two-Year Total Earnings Improvement of all Texas Companies.  In comparison, these 5 largest Texas cities were headquarters to a much lower 62%, or 72 of the 116 Texas Companies.  Whoa!  Who now says these Texas Democratic Mayors haven't done economic wonders for their cities?

And even more importantly, all of these 5 largest Texas cities are included in the top 10 lowest unemployment rates for the most recent April 2015 for the 51 US Metropolitan Areas with population of 1 million or more, which is published by the US Bureau of Labor.
  • #1 Austin-Round Rock, TX at 3.0% (down from 7.8% in July 2009)
  • #3 San Antonio-New Braunfels, TX at 3.4% (down from 7.8% in June 2011)
  • #6 Dallas-Fort Worth-Arlington, TX at 3.7% (down from 8.7% in July 2009)
  • #10 Houston-The Woodlands-Sugar Land, TX at 4.0% (down from 8.7% in January 2010)  
The El Paso, TX Metro Area unemployment rate also dropped precipitously from 10.2% in June 2011 to 4.9% in the most recently reported April 2015.

Below here are the reported US GAAP Audited Net Income (Losses) of each of  these 116 largest Texas Non-Oil & Gas Companies for all of their fiscal years from 2008 through 2014:

2014 2013 2012 2011 2010 2009 2008


2014 Audited Audited Audited Audited Audited Audited Audited


Most Net Net Net Net Net Net Net

City Recent Income Income Income Income Income Income Income
Texas Non-Oil & Gas Company HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)


mil $s mil $s mil $s mil $s mil $s mil $s mil $s









AT&T Dallas Dec        6,518   18,553     7,539     4,184   19,400   12,447     (2,364)
LyondellBasell Houston Dec        4,172     3,860     2,858     2,140     1,380   (2,871)     (7,343)
Burlington Northern Santa Fe Fort Worth Dec        3,869     3,793     3,372     2,972     2,459     1,721        2,115
American Airlines Fort Worth Dec        2,882         821         332   (1,861)       (471)   (1,468)     (2,118)
Texas Instruments Dallas Dec        2,821     2,162     1,759     2,236     3,228     1,470        1,920
Kimberly-Clark Dallas Dec        1,545     2,018     1,627     1,684     1,943     1,994        1,829
Waste Management Houston Dec        1,338         130         860     1,009     1,002     1,060        1,128
Southwest Airlines Dallas Dec        1,136         754         421         178         459           99           178
Sysco Houston Jun           932         992     1,122     1,152     1,180     1,056        1,106
Fluor Irving Dec           852         823         571         698         441         733           749
Santander Consumer US Holdings Dallas Dec           766         696         735         788         438         210           174
Trinity Industries Dallas Dec           709         386         252         146           75       (138)           282
Dr Pepper Snapple Plano Dec           703         624         629         606         528         555         (312)
Westlake Chemical Houston Dec           685         610         386         259         221           53           (30)
Chicago Bridge & Iron NV Woodlands Dec           636         513         317         255         212         180           (15)
Celanese Corp Irving Dec           627     1,101         376         426         426         484           371
Comerica Dallas Dec           593         541         521         393         260           16           212
Union Carbide Houston Dec           587         748       (114)         215         459         696           327
Whole Foods Market Austin Sep           579         551         466         343         246         147           115
Torchmark McKinney Dec           543         528         529         498         504         405           452
General Motors Financial Fort Worth Dec           537         566         463         386         221         (11)           (82)
DR Horton Fort Worth Sep           534         463         956           72         245       (550)     (2,634)
Flowserve Irving Dec           525         488         451         429         389         428           445
Alliance Data Systems Plano Dec           516         496         422         315         196         177           233
BBVA Compass Bancshares Houston Dec           469         420         479   (1,737)       (336)   (1,929)         (396)
HCC Insurance Holdings Houston Dec           458         407         391         255         345         354           302
Crown Castle Intl Houston Dec           399           94         201         171       (311)       (114)           (49)
GameStop Grapevine Jan 15           393         354       (270)         339         407         376           398
Fossil Group Richardson Dec           387         388         354         307         265         144           142
Quanta Services Houston Dec           316         421         306         130         145         164           158
Camden Property Trust Houston Dec           301         156         161           18              8         (62)              (3)
Prosperity Bancshares Houston Dec           297         221         168         142         128         112              85
Kirby Houston Dec           285         256         213         185         117         128           158
Cullen/Frost Bankers San Antonio Dec           278         238         238         218         209         179           207
Freescale Semiconductor Austin Dec           251       (208)       (102)       (410)   (1,053)         748     (7,939)
American National Insurance Galveston Dec           249         272         192         192         145           15         (173)
Sally Beauty Holdings Denton Sep           246         261         233         214         144           99              78
Waste Connections Woodlands Dec           233         196         160         166         136         111           115
Nationstar Mortgage Holdings Coppell Dec           221         217         205           21         (10)         (81)         (158)
The Michaels Companies Irving Jan 15           217         243         200         157         103         103              (7)
Lennox Intl Richardson Dec           208         180         135         112         126           62           124
Cinemark Holdings Plano Dec           194         151         171         133         150         101           (44)
Eagle Materials Dallas Mar 15           187         124           58           19           15           29              42
CST Brands San Antonio Dec           180         139         208         214         193         146           225
Copart Dallas Jul           179         180         182         166         152         140           157
Service Corp Intl Houston Dec           177         152         155         146         127         123              98
Brinker Intl Dallas Jun           154         163         151         141         104           72              46
International Bancshares Laredo Dec           153         126         108         127         130         143           132
MRC Global Houston Dec           144         152         118           29         (52)       (340)           254
Capstead Mortage Corp Dallas Dec           141         126         164         160         127         129           126
Texas Capital Bancshares Dallas Dec           136         121         121           76           37           24              25
Helen of Troy El Paso  Feb 15           131           86         116         110           93           72           (57)
National Instruments Austin Dec           126           81           90           94         109           17              85
Dresser-Rand Group Houston Dec           124         169         183         121         147         211           198
Hi-Crush Partners Houston Dec           124           60           42              9           (0)

OCI Partners LP Nederland Dec           119         154           52              0


Weingarten Realty Investors Houston Dec           116         133           57              9           41           85              64
Six Flags Entertainment Grand Prairie Dec           113         156         396           12       (188)         (67)           (63)
Hilltop Holdings Dallas Dec           112         127           (5)           (7)           (1)           (2)           (23)
Rackspace Hosting San Antonio Dec           111           87         105           76           46           30              22
Sabre Southlake Dec           111           52       (215)         113           82

Commercial Metals Irving Aug           102           75         211       (129)       (166)              1           245
Kronos Worldwide Dallas Dec              99       (102)         219         321         131         (35)                9
Tenet Healthcare Dallas Dec              98         (93)         209         103     1,135         228              79
Rent-A-Center Plano Dec              96         129         180         165         172         168           140
Group 1 Automotive Houston Dec              93         114         100           82           50           35           (46)
First Financial Bankshares Abilene Dec              90           79           74           68           58           54              53
Bristow Group Houston Mar 15              89         188         132           65         133         113           126
First Cash Financial Services Arlington Dec              85           84           81           70           51           42              37
Benchmark Electronics Angleton Dec              82         111           57           52           80           54         (136)
Valhi Dallas Dec              80       (127)         197         291           64         (38)                5
Rush Enterprises New Braunfels Dec              80           49           62           55           25              6              29
SolarWinds Austin Dec              78           90           81           62           45           30              22
CVR Partners LP Sugarland Dec              76         119         112         132           33           58           119
Pier 1 Imports Fort Worth Feb 15              75         108         129         169         100           87         (129)
Darling Intl Irving Dec              68         109         131         169           44           42              55
Diodes  Plano Dec              66           24           26           54           80           10              31
AZZ Inc Fort Worth Feb 15              65           60           60           41           35           38              42
Nexstar Broadcasting Group Irving Dec              65           (2)         177         (12)           (2)         (13)           (78)
American Campus Communities Austin Dec              61           47           49           34           22           (2)           (12)
Tyler Technologies Dallas Dec              59           39           33           28           25           27              15
Cirrus Logic Austin Mar 15              55         108         137           88         204           38                3
Greatbatch Frisco Dec              55           36           (5)           33           33           (9)              14
Cyberonics Houston Apr              55           46           36           47           78           27           (10)
Mattress Firm Holding Houston Jan 15              44           53           40           34              0           (5)         (125)
Silicon Laboratories Austin Dec              38           50           64           35           73           73              33
Texas Pacific Land Trust Dallas Dec              35           27           20           21           11              7              11
Cardtronics Houston Dec              35           21           43           70           41              6           (72)
Multimedia Games Holding Austin Sep              32           35           28              6              3         (45)                0
Insperity Kingwood Dec              32           32           40           30           22           17              46
LegacyTexas Financial Group Plano Dec              31           32           35           26           18              3              (3)
InfraREIT Dallas Dec              30           42           17



FelCor Lodging Trust Irving Dec              28         (84)       (187)       (134)       (112)       (106)           (63)
RetailMeNot Austin Dec              27           32           26           17              2

Summit Hotel Properties Austin Dec              20              7           (7)           (9)         (21)         (18)                4
Clear Channel Outdoor Holdings San Antonio Dec              17         (24)       (159)           63         (76)       (873)     (2,851)
HomeAway Austin Dec              14           17           15              6           17              8              (6)
HMS Holdings Irving Dec              14           40           51           48           40           30              21
ClubCorp Holdings  Dallas Dec              13         (41)         (16)         (35)         261

NCI Building Systems Houston Oct              11         (13)              5         (10)         (27)       (751)              73
Dave & Busters Entertainment Dallas Jan 15                8              2              9           (7)           (7)           (0)                2
Solera Holdings Westlake Jun                5         105         118         169           94           67                7
Monogram Residential Trust Plano Dec                0         (17)         (41)           95         (35)           (8)                3
Men's Wearhouse Houston Jan 15              (0)           84         132         120           68           46              59
RealPage Carrollton Dec           (10)           21              5           (1)              0           28              (3)
LDR Holding Austin Dec           (11)         (28)         (10)           (2)              2

CyrusOne Carrollton Dec           (15)         (36)         (20)              2              4              6                4
Adeptus Health Lewisville Dec           (17)           (3)              3



Dean Foods Dallas Dec           (20)         325           24   (1,728)           31         228           185
Howard Hughes Corp Dallas Dec           (24)         (74)       (128)         148           12       (703)           (18)
ZS Pharma Coppell Dec           (64)         (34)         (10)



Neiman Marcus Group Dallas Jul         (147)         164         140           32           (2)       (668)           143
La Quinta Holdings Irving Dec         (333)              5           17           59           78           30              20
iHeartCommunications San Antonio Dec         (762)       (584)       (411)       (268)       (463)   (4,049)     (4,527)
JC Penney Plano Jan 15         (771)   (1,388)       (985)       (152)         378         249           567
KBR Inc Houston Dec     (1,198)         171         202         540         395         364           367










Total all 116

    41,479   49,102   33,919   22,914   40,559   15,112   (14,443)










Two Years Earnings 2014 and 2013

    90,581





Two Years Earnings 2009 and 2008

          669





…..2 Years Earnings Increase Amount
    89,912    




…..2 Years Earnings Increase %

13,440%







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