Monday, November 7, 2016

The 105 Virginia Companies Excluding Freddie Mac With Market Caps Above $100 Mil Generated Total Audited US GAAP Earnings in 2015 of $21.930 Bil, Up 1,761% (or Up More Than 17 Times) From Their Total Earnings of $1.178 Bil in 2008, the Year Before President Obama Took Office ..... Total Earnings of All 106 Virginia Companies Including Freddie Mac Were $28 Bil in 2015, an Earnings Improvement of $77 Bil From Their Total Losses of $49 Bil in 2008, the Year Before President Obama Took Office ..... These 106 Virginia Companies Had Total Earnings in the 2 Years 2014-15 of $60 Bil, an Earnings Improvement of $117 Bil From Their Two Year 2008-9 Total Losses of $57 Bil ..... These 106 Virginia Companies Had Total 3 Year Earnings in the Years 2013-15 of $133 Bil, an Earnings Improvement of $187 Bil From Their 3 Year 2007-9 Total Losses of $54 Bil

Since Tim Kaine and Anne Holton are campaigning today, November 7, 2016, in both Fairfax, Virginia and in Richmond, Virginia, I think it might be helpful to research how Virginia Headquartered Companies have performed on the earnings front during the Obama Administration. 

From a review of the very fine Google Finance Website and of company financial statements in the US SEC website, I found the 106 Companies headquartered in Virginia including US Government-Sponsored-Enterprise Freddie Mac, all with Stock Market Capitalizations recently of more than $100 Mil, and which also have filed their fiscal year 2015 annual financial statements with the SEC.  Traditional Regulated Utilities were excluded.

Below here are the reported Audited US GAAP Earnings (Losses) From Continuing Operations of each of these 106 Virginia Companies for all years reported from 2007 through 2015 where the amounts were presented and in a consistent manner:

2015 2014 2013 2012 2011 2010 2009 2008 2007



Most Audited Audited Audited Audited Audited Audited Audited Audited Audited



Recent Net Net Net Net Net Net Net Net Net
ST 2015 Income Income Income Income Income Income Income Income Income
Virginia Company City HQs HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)



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













Altria Group Richmond VA Dec15       5,243     5,070     4,535     4,183     3,393       3,907       3,208       3,090     3,131
Capital One Financial McLean VA Dec15       4,012     4,423     4,354     3,709     3,253       3,050          987            85     2,592
General Dynamics Falls Church VA Dec15       2,965     2,673     2,486      (381)     2,552       2,628       2,407       2,478     2,080
Northrop Grumman Falls Church VA Dec15       1,990     2,069     1,952     1,978     2,086       1,904       1,573     (1,379)     1,751
Norfolk Southern Norfolk VA Dec15       1,556     2,000     1,910     1,749     1,916       1,496       1,034       1,716     1,464
Hilton Worldwide Holdings McLean VA Dec15       1,416        682        460        352        253          128        (532)     (5,663)    
AES Corp Arlington VA Dec15          752     1,176        730      (420)     1,575       1,481       1,809       1,929        857
Avalon Bay Communities Arlington VA Dec15          742        659          58        250        152            92            77            99        219
CarMax Richmond VA Feb16          623        597        493        434        414          377          282            59        182
Markel Corp Glen Allen VA Dec15          589        324        284        258        148          268          202          (58)        406
Advance Auto Parts Roanoke VA Dec15          473        494        392        388        395          346          270          238        238
Tegna Inc McLean VA Dec15          421        756          99        126          75                
Huntington Ingalls Industries Newport News VA Dec15          404        338        261        146      (100)          131          124     (2,420)        276
Towers Watson Arlington VA Jun15          386        360        292        238        180          119          147          156        116
Willis Towers Watson plc Arlington VA Dec15          384        373        377      (433)        219          470          457          323        426
NVR Inc Reston VA Dec15          383        282        266        181        129          206          192          101        334
Verisign Reston VA Dec15          375        355        544        312        139            70            92            32      (245)
Evolent Health  Arlington  VA Dec15          320        (25)          20





Booz Allen Hamilton Holding McLean VA Mar16          294        233        232        219        240            85            25        (436)          89
Dollar Tree Chesapeake VA Jan16          282        599        597        619        488          397          321          230        201
Leidos Holdings Reston VA Dec15          243      (323)          84        323      (239)          311          220          418        367
NewMarket Corp Richmond VA Dec15          239        233        242        237        205          176          162            73          79
Dominion Midstream Partners LP Richmond VA Dec15          197        107        109          97




Neustar Inc Sterling VA Dec15          175        164        163        156        124          124          116          134        111
Pra Group Norfolk VA Dec15          168        177        177        126        101            74            44            45          48
MAXIMUS Inc Reston VA Sep15          160        145        117          76          82            69          (11)            30          55
Gannett Co Inc McLean VA Dec15          146        211        274        277        334          431            
CACI International Arlington VA Jun16          143        126        136        153        168          145          107            90          78
BWX Technologies Inc Lynchburg VA Dec15          141          30        185                        
Universal Corp Richmond VA Mar16          118        120        155        141        101          165          170          133        116
Apple Hospitality REIT Richmond VA Dec15          117            7          82          69          50            (3)              3              2            0
Science Applications Intl McLean VA Jan16          117        141        113        182        182          208          194          176  NA 
MicroStrategy Inc Tysons Corner VA Dec15          106            5          27          22          22            46            61            42          59
CSRA Inc Falls Church VA Mar16          103        268        254        269          25          249


Owens & Minor Mechansville VA Dec15          103          67        111        109        115          111          117          101          71
Xenith Bankshares Richmond VA Dec15            95          10            6        (22)        (97)        (210)        (201)              7            7
CEB Inc Arlington VA Dec15            93          51          32          37          57            52            50            67          82
Spok Holdings Inc Springfield VA Dec15            84          21          28          27          84            78            68        (157)          (5)
Orbital ATK Inc Dulles VA Mar15            78        160        187        194        218          218            
Computer Sciences Corp Tysons VA Mar16            72      (207)        520          (1)      (769)     (2,942)          409       1,072        905
Performance Food Group Richmond VA Jun16            68          57          16            8          21            14              1

Union Bankshares Corp Richmond VA Dec15            67          52          34          35          30            23              8            15          20
Beacon Roofing Supply Herndon VA Sep15            62          54          73          76          59            35            52            40          25
TowneBank Portsmouth VA Dec15            62          42          42          38          33            30            27            24          23
American Woodward Corp Winchester VA Apr16            59          35          20          10        (21)          (20)          (22)            (3)            4
James River Group Hldgs Ltd Richmond VA Dec15            53          45          67            9          38



Mantech Intl Fairfax VA Dec15            51          47          (6)          95        133          125          112            90          67
Trex Company Inc Winchester VA Dec15            48          42          35            3        (12)          (10)          (17)              5        (78)
Cardinal Financial Corp McLean VA Dec15            47          33          26          45          28            18            10              0            4
ePlus Herndon VA Mar16            45          46          35          35          23            24            13            13          16
Shenandoah Telecommunications Edinburg VA Dec15            41          34          30          17          14            19            25            26          22
Strayer Education Inc Herndon VA Dec15            40          46          16          66        106          131          105            81          65
ICF Intl Inc Fairfax VA Dec15            39          40          39          38          35            27            22            29          41
Carter Bank and Trust Martinsville VA Dec15            39          33          26          30          30            25            18            10          13
Armada Hoffler Properties Inc Virginia Beach VA Dec15            31          13          14            9            3              4


First Community Bancshares Inc Bluefield VA Dec15            25          25          23          29          20            22          (39)              2          30
Gladstone Investment Corp McLean VA Mar16            25          50          (1)          17          22            16          (11)          (11)          (1)
VSE Corp Alexandria VA Dec15            25          20          24          27          20            24            24            19          14
Kinsale Capital Group Richmond VA Dec15            22          13          12





Bassett Furniture Industries Inc Bassett VA Nov15            20            9            5          27          55            (2)          (23)          (40)        (10)
GTT Communications Inc McLean VA Dec15            19        (23)        (21)          (2)            0              1              0          (42)          (4)
Liberty Tax Inc Virginia Beach VA Apr16            19            9          22          18          16            15            11            12          17
Continental Building Products Herndon VA Dec15            17          16          34        (13)        (61)



Dynex Capital Inc Glen Allen VA Dec15            17          28          68          74          40            29            18            15            9
Hooker Furniture Corp Martinsville VA Jan16            16          13            8            9            5              3              3              7          20
National Bankshares Inc Blacksburg VA Dec15            16          17          18          18          18            16            14            14          13
Access National Corp Chantily VA Dec15            15          14          13          18          11              8            10              5            4
American National BankShares Inc  Danville VA Dec15            15          13          16          16          12              8              7              8          11
Monarch Financial Holdings Inc Chesapeake VA Dec15            13          11          12          14            8              6              5              1            3
C&F Financial Corp West Point VA Dec15            13          12          14          16          13              8              6              4            8
Alarm.com Holdings  Tysons  VA Dec15            12          14            5            9          10              4


WashingtonFirst Bankshares Inc Reston VA Dec15            12            9            6            2            3              2              1              1            0
NCI Inc Reston VA Dec15            12            8            8        (87)          13            24            22            17          13
Lumos Networks Corp Waynesboro VA Dec15            10          22          18          16        (44)            21            23            23          21
K12 Inc Herndon VA Jun16              9            9          18          27          16            12            21            12          34
Southern National Banc of Virginia Inc Charlottesville VA Dec15              9            7            6            7            4              4            (5)              1            2
Middleburg Financial Corp Middleburg VA Dec15              8            7            6            8            5            (2)              5              2            3
Gladstone Capital McLean VA Sep15              8          11          32          (8)        (21)            16              4          (21)          15
Middleburg Financial Middleburg VA Dec15              8            7            6            8            5            (2)              5              2            3
Iridium Communications Inc McLean VA Dec15              7          75          63          65          41            20          (44)              2
Eastern Virginia Bankshares Tappahannock VA Dec15              7            6          (3)            3            2          (11)            (9)              3            9
Gladstone Commercial Corp McLean VA Dec15              4          (6)            2            4            6              5              4              5            6
Old Point Financial Hampton VA Dec15              4            4            3            4            3              2              2              7            8
Gladstone Land Corp McLean VA Dec15              1          (0)          (1)            1            0              1


NTELOS Holdings Corp Waynesboro VA Dec15            (1)            3          24          20          23            29            46            29          20
Straight Path Communications Inc Glen Allen VA Jul15            (2)            2          (4)            5            2    


Community Bankers Trust Corp Richmond VA Dec15            (2)            8            6            6            1          (21)          (30)              1            1
Genworth Financial Richmond VA Dec15            (6)   (1,205)        680        514          35          136        (485)        (655)     1,154
Telos Corp Ashburn VA Dec15          (14)        (11)          (1)            9            4              4              2            13            7
Cvent Tysons Corner VA Dec15          (18)            2          (3)            4          (0)              5              3              3
Wheeler Real Estate Investment Trust Virginia Beach VA Dec15          (21)        (12)          (4)          (1)          (1)              0              0

Brink's Company Richmond VA Dec15          (25)        (86)          90        123        121            97          227          172        101
Tredegar Corp Richmond VA Dec15          (32)          36          36          43          29            27            (1)            30          35
HC2 Holdings Inc Herndon VA Dec15          (36)        (12)        (18)        (45)        (44)          (27)            42          (15)          24
K2M Group Holdings Leesburg VA Dec15          (39)        (60)        (38)        (33)          13



Media General Inc Richmond VA Dec15          (40)          57            4          36        104          (39)          (51)        (286)            9
Opower Inc Arlington VA Dec15          (45)        (42)        (14)        (12)        (21)          (14)


Rosetta Stone Arlington VA Dec15          (47)        (74)        (16)        (34)        (20)            13            13            14            3
Gilat Satellite Networks Ltd McLean VA Dec15          (52)          (1)        (10)        (21)          (2)            38              2            (1)          10
Lumber Liquidators Holdings Inc Toano VA Dec15          (56)          63          77          47          26            26            27            22          11
Arlington Asset Investment Corp Arlington VA Dec15          (69)            8          53        189          15            27          131        (310)      (663)
Graham Holdings Arlington VA Dec15        (141)        765          65        (49)          37                
Engility Holdings Inc Chantilly VA Dec15        (230)          40          55      (345)          26            (8)          157          166        166
NII Holdings Reston VA Dec15        (723)   (1,153)   (1,200)      (363)      (266)



Intelsat SA McLean VA Dec15     (3,919)        237      (252)      (149)      (435)        (515)        (775)     (1,196)      (191)













Total all 105 Except Freddie Mac


    21,930   24,535   23,757   17,165   18,659     16,930     13,901       1,178   17,227
2015 Earnings % Increase vs 2008


1,761%




















Freddie Mac McLean VA Dec15       6,376     7,690   48,668   10,982   (5,266)    (14,026)    (21,554)    (50,116)   (3,102)













Total all 106


    28,306   32,225   72,425   28,147   13,393       2,904     (7,653)   (48,938)   14,125
2015 Earnings Improvement Over 2008

    77,244




















2 Year Earnings Improvement











…..2 Years 2014-15 Total Earnings


    60,531







…..2 Years 2008-09 Total Losses


  (56,591)







………..2 Year Improvement


  117,122




















3 Year Earnings Improvement











…..3 Years 2014-15 Total Earnings


  132,956







…..3 Years 2008-09 Total Losses


  (53,687)







………..3 Year Improvement


  186,644














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