Thursday, November 3, 2016

Michigan Companies First Half of 2016 US GAAP Total Earnings Were $19.1 Bil, Up a Very Robust 41% From That in the First Half of 2015, and That Was Following Their Annual 2015 Total Audited Earnings Being Up an Even More Robust 79% From That in Annual 2014

Since Hillary Clinton is campaigning tomorrow November 4, 2016 in Detroit, Michigan, I think it might be helpful to research how the Michigan Headquartered Companies have performed on the earnings front in the First Half of 2016, President Obama's last year in office.

From a review of the very fine Google Finance Website and of company financial statements in the US SEC website, I found the 60 Companies headquartered in Michigan, all with Stock Market Capitalizations now of more than $100 Mil and which also have filed their First Half 2016 financial information with the SEC.  Traditional Regulated Utilities were excluded.

Below here are the reported US GAAP Earnings (Losses) From Continuing Operations of each of these 60 Michigan Companies for both the First Half of 2016 and the First Half of 2015:




 First   First 



 Half   Half 



Most 2016 2015



Recent Net Net
City ST 2015 Income Income  % 
Michigan Company HQs HQs FYE (Loss) (Loss)  Increase 



 $ mils  $ mils







General Motors Detroit MI Dec15     4,781     2,048
Ford Motor Dearborn MI Dec15     4,427     3,315
Dow Chemical Midland MI Dec15     3,502     2,716
Stryker Kalamazoo MI Dec15        782        616
Delphi Automotive PLC Troy MI Dec15        606        673
Ally Financial Detroit MI Dec15        604        348
Lear Corp Southfield MI Dec15        557        350
Whirlpool Benton Harbor MI Dec15        498        383
Kellogg Battle Creek MI Dec15        455        449
BorgWarner Auburn Hills MI Dec15        349        345
Autoliv Inc Auburn Hills MI Dec15        282        173
Masco Corp Taylor MI Dec15        282        189
Penske Automotive Group Bloomfield Hills MI Dec15        176        173
Gentex Zeeland MI Dec15        167        152
Credit Acceptance Corp Southfield MI Dec15        159        146
American Axle & Manufactiring Detroit MI Dec15        132        112
Syntel Troy MI Dec15        112        101
Taubman Centers Bloomfield Hills MI Dec15        102          93
Domino's Pizza Ann Arbor MI Dec15          95          92
Flagstar Bancorp Troy MI Dec15          86          78
Herman Miller Inc Zeeland MI May16          78          58
Meritor Inc Troy MI Sep15          76          55
Visteon Van Buren Township MI Dec15          75          89
Cooper-Standard Holdings Inc Novi MI Dec15          72          58
WABCO Holdings Rochester Hills MI Dec15          69        143
Federal-Mogul Holdings Corp Southfield MI Dec15          69            7
Metaldyne Performance Group Southfield MI Dec15          61          77
Steelcase Inc Grand Rapids MI Feb16          58          57
Universal Forest Products Inc Grand Rapids MI Dec15          54          38
Chemical Financial Corp Midland MI Dec15          49          37
Wolverine World Wide Rockford MI Dec15          42          65
Talmer Bancorp Troy MI Dec15          41          27
Ramco-Gershenson Properties Trust Farmington Hills MI Dec15          40          17
LA-Z-Boy Inc Monroe MI Apr16          37          34
Gentherm Inc Northville MI Dec15          30          39
SpartanNash Co Grand Rapids MI Dec15          28          31
Superior Industries Intl Inc Southfield MI Dec15          28          11
Tower Intl Inc Livonia MI Dec15          24          35
Diplomat Pharmacy Flint MI Dec15          23            6
Kelly Services Inc Troy MI Dec15          20          11
Neogen Corp Lansing MI May16          20          18
TriMas Corp Bloomfield Hills MI Dec15          19          20
Agree Realty Corp Bloomfield Hills MI Dec15          18          17
Universal Logistics Holdings Warren MI Dec15          17          21
Mercantile Bank Corp Grand Rapids MI Dec15          16          13
Rofin-Sinar Technologies Plymouth MI Sep15          12          20
Independent Bank Corp Ionia MI Dec15          11            9
Horizon Global Troy MI Dec15          10            4
Saga Communications Inc Grosse Pointe Farms MI Dec15            8            7
Sun Comminities Inc Southfield MI Dec15            7          31
Macatawa Bank Corp Holland MI Dec15            7            6
MBT Financial Corp Monroe MI Dec15            7            5
Isabella Bank Corp Mt Pleasant MI Dec15            6            8
Spartan Motors Inc Charlotte MI Dec15            5          (2)
Unique Fabricating Auburn Hills MI Dec15            2            3
Gemphire Therapeutics Northville MI Dec15          (3)          (4)
Rockwell Medical Inc Wixom MI Dec15        (10)          (6)
Synthetic Biologics Inc Ann Arbor MI Dec15        (17)        (26)
Esperion Therapeutics Ann Arbor MI Dec15        (29)        (24)
Perrigo Allegan MI Dec15      (140)        (38)







Total all 60


  19,094   13,529 41%