Monday, September 18, 2017

US Technology Company Total US GAAP Earnings Plummet in the July 2017 Quarter ...................................................................................... The Trump Administration Is Very Successful in Achieving Its Goal To Curtail the Blistering Total Earnings Growth of US Technology Companies With the 36 With July Quarter Ends Experiencing July 2017 Quarter Total US GAAP Earnings of $5.051 Bil, Down 28% From the $7.057 Bil Achieved in the July 2016 Quarter ...................................................................................... The 45 US Retailing Companies, Which Dominate July 2017 Quarter Earnings, Generated Total US GAAP Earnings of $11.869 Bil in the July 2017 Quarter, Up 1% From Their July 2016 Quarter Total Earnings ...................................................................................... All 119 US Companies With Market Caps Above $1 Bil and Which Have Reported Their July 2017 Quarter Earnings Generated Total US GAAP Earnings in the July 2017 Quarter of $20.515 Bil, Down 5% From That in Their July 2016 Quarter

From a review of the Google Finance Website and of company financial statements in the US SEC website, I found the 119 Companies headquartered in the US with Stock Market Capitalizations of more than $1 Bil recently which have July Quarter Ends and which have filed their July 2017 Quarter Financial Statements with the SEC.

Below here are the Total Reported US GAAP Earnings (Losses) From Continuing Operations for the July Quarters of both 2017 and 2016 for each of these 119 US Companies.






July July







2017 2016







Quarter Quarter



Calendar US GAAP US GAAP
US Companies

Most
3Q17 Net Net
July 2017 Quarter Ends City State Recent
Month Income Income Better Better
Market Caps Above $1 Bil HQs HQs FYE
End (Loss) (Loss) (Worse) (Worse)





 $ mils  $ mils  $ mils %
US Retail Related Companies








Wal-Mart Bentonville AR Jan17
July17          3,104          3,889            (785) -20%
Home Depot Atlanta GA Jan17
July17          2,672          2,441             231 9%
Lowe's Companies Mooresville NC Jan17
July17          1,419          1,167             252 22%
Target Corp Minneapolis MN Jan17
July17             671             625               46 7%
TJX Companies Framingham MA Jan17
July17             553             562                (9) -2%
Kroger Cincinnati OH Jan17
July17             351             378              (27) -7%
Ross Stores Dublin CA Jan17
July17             317             282               35 12%
Dollar General Goodlettsville TN Jan17
July17             295             307              (12) -4%
The Gap San Francisco CA Jan17
July17             271             125             146 117%
Dollar Tree Chesapeake VA Jan17
July17             234             170               64 38%
Best Buy Richfield MN Jan17
July17             209             182               27 15%
Kohl's Corp Menomonee Falls WI Jan17
July17             208             140               68 49%
L Brands Columbus OH Jan17
July17             139             252            (113) -45%
PVH Corp New York NY Jan17
July17             119               91               28 31%
Tiffany & Co New York NY Jan17
July17             115             106                 9 8%
Ulta Beauty Bolingbrook IL Jan17
July17             114               90               24 27%
Macy's Cincinnati OH Jan17
July17             113                 9             104 1156%
Dicks Sporting Goods Coraopolis PA Jan17
July17             112               91               21 23%
Nordstrom Seattle WA Jan17
July17             110             117                (7) -6%
Signet Jewelers Ltd Akron OH Jan17
July17               93               82               11 13%
HD Supply Holdings Atlanta GA Jan17
July17               81               61               20 33%
Staples Framingham MA Jan17
July17               63            (107)             170 NM
Casey's General Stores Ankeny IA Apr17
July17               57               67              (10) -15%
Cracker Barrel Old Country Store Lebanon TN Jul16
July17               54               51                 3 6%
Williams-Sonoma San Francisco CA Jan17
July17               53               52                 1 2%
Foot Locker New York NY Jan17
July17               51             127              (76) -60%
Urban Outfitters Philadelphia PA Jan17
July17               50               77              (27) -35%
Burlington Stores Florence NJ Jan17
July17               47               20               27 135%
Michaels Companies Irving TX Jan17
July17               36               36                -   0%
Dave & Busters Entertainment Dallas TX Jan17
July17               30               22                 8 36%
Big Lots Columbus OH Jan17
July17               29               23                 6 26%
DSW Inc Columbus OH Jan17
July17               29               25                 4 16%
Chico's FAS Ft Myers FL Jan17
July17               23               23                -   0%
Oxford Industries Atlanta GA Jan17
July17               23               24                (1) -4%
GameStop Grapevine TX Jan17
July17               22               28                (6) -21%
American Eagle Outfitters Pittsburgh PA Jan17
July17               21               42              (21) -50%
Ollie's Bargain Outlet Holdings Inc Harrisburg PA Jan17
July17               20               13                 7 54%
Five Below Philadelphia PA Jan17
July17               17               10                 7 70%
Guess? Inc Los Angeles CA Jan17
July17               16               32              (16) -50%
Childrens Place Inc Secaucus NJ Jan17
July17               14                (2)               16 NM
At Home Group Plano TX Jan17
July17               10                 6                4 67%
RH Corte Madera CA Jan17
July17                (8)                 7              (15) NM
G-III Apparel Group Ltd New York NY Jan17
July17                (9)                (1)                (8) NM
Dillard's Inc Little Rock AR Jan17
July17              (17)               12              (29) NM
J C Penney Company Plano TX Jan17
July17              (62)              (56)                (6) NM










Total all 45 US Retail Related Companies




       11,869        11,698             171 1%










US Technology Companies








Cisco Systems San Jose CA Jul17
July17          2,424          2,813            (389) -14%
Applied Materials Santa Clara CA Oct16
July17             925             505             420 83%
HP Inc Palo Alto CA Oct16
July17             696             843            (147) -17%
NVIDIA Corp Santa Clara CA Jan17
July17             583             261             322 123%
Broadcom Ltd San Jose CA Oct16
July17             509            (303)             812 NM
VMWare Palo Alto CA Jan17
July17             334             265               69 26%
Hewlett Packard Enterprise Palo Alto CA Oct16
July17             248          2,457         (2,209) -90%
Agilent Technologies Santa Clara CA Oct16
July17             175             124               51 41%
NetApp Sunnyvale CA Apr17
July17             136               64               72 113%
Marvell Technology Group Ltd Santa Clara CA Jan17
July17             135               62               73 118%
Synopsys Mountain View CA Oct16
July17             117               65               52 80%
Analog Devices Norwood MA Oct16
July17               69             230            (161) -70%
Ciena Corp Hanover MD Oct16
July17               60               34               26 76%
Tech Data Corp Clearwater FL Jan17
July17               47               46                 1 2%
Veeva Systems Pleasanton CA Jan17
July17               38               13               25 192%
Science Applications Intl McLean VA Jan17
July17               36               37                (1) -3%
Guideware Software Foster City CA Jul17
July17               27               16               11 69%
Intuit Mountain View CA Jul17
July17               24              (40)               64 NM
Methode Electronics Inc Chicago IL Apr17
July17               21               21                -   0%
Finisar Corp Sunnyvale CA Apr17
July17               20               24                (4) -17%
Salesforce.com San Francisco CA Jan17
July17               18             230            (212) -92%
Semtech Corp Camarillo CA Jan17
July17               13                 9                 4 44%
Ambarella Santa Clara CA Jan17
July17                 3                 9                (6) -67%
Verint Systems Inc Melville NY Jan17
July17                (6)              (11)                 5 NM
Coupa Software San Mateo CA Jan17
July17              (14)              (12)                (2) NM
Keysight Technologies Inc Santa Rosa CA Oct16
July17              (18)               91            (109) NM
Brocade Communications Systems San Jose CA Oct16
July17              (20)               10              (30) NM
Palo Alto Networks Santa Clara CA Jul17
July17              (38)              (31)                (7) NM
Box Inc Redwood City CA Jan17
July17              (39)              (38)                (1) NM
Nutanix San Jose CA Jul17
July17              (50)              (91)               41 NM
Pure Storage Mountain View CA Jan17
July17              (62)              (60)                (2) NM
VeriFone Systems San Jose CA Oct16
July17              (71)              (31)              (40) NM
Workday Pleasanton CA Jan17
July17              (83)            (108)               25 NM
Splunk San Francisco CA Jan17
July17              (84)              (87)                 3 NM
Autodesk San Rafael CA Jan17
July17            (144)              (98)              (46) NM
Dell Technologies Round Rock TX Jan17
July17            (978)            (262)            (716) NM










Total all 36 US Technology Companies




         5,051          7,057         (2,006) -28%










All Other US Companies








Medtronic plc Minneapolis MN Apr17
July17          1,009             929               80 9%
Deere Moline IL Oct16
July17             642             489             153 31%
Campbell Soup Camden NJ Jul17
July17             318              (81)             399 NM
Hormel Foods Austin MN Oct16
July17             183             196              (13) -7%
Brown Forman Louisville KY Apr17
July17             178             144               34 24%
Toll Brothers Horsham PA Oct16
July17             149             105               44 42%
JM Smucker Orrville OH Apr17
July17             127             170              (43) -25%
Sanderson Farms Inc Laurel MS Oct16
July17             116               55               61 111%
Cooper Companies Pleasanton CA Oct16
July17             104               88               16 18%
Nordson Corp Westlake OH Oct16
July17             101               84               17 20%
Eaton Vance Boston MA Oct16
July17               75               66                 9 14%
Toro Co Bloomington MN Oct16
July17               68               56               12 21%
Donaldson Co Inc Minneapolis MN Jul17
July17               68               60                 8 13%
Heico Corp Hollywood FL Oct16
July17               51               47                 4 9%
Greif Inc Delaware OH Oct16
July17               48               46                 2 4%
Dycom Industries Palm Beach Gardens FL Jul17
July17               44               49                (5) -10%
Navistar Intl Lisle IL Oct16
July17               41              (28)               69 NM
United Natural Foods Providence RI Jan17
July17               39               35                 4 11%
National Beverage Corp Ft Lauderdale FL Apr17
July17               38               29                 9 31%
ABM Industries New York NY Oct16
July17               33               33                -   0%
Patterson Companies St Paul MN Apr17
July17               31               39                (8) -21%
Korn/Ferry Intl Los Angeles CA Apr17
July17               29                 4               25 625%
Argan Inc Rockville MD Jan17
July17               27               23                 4 17%
Brady Corp Milwaukee WI Jul17
July17               25               25                -   0%
American Woodward Corp Winchester VA Apr17
July17               22               22                -   0%
KLX Inc Wellington FL Jan17
July17               21                 8               13 163%
NCI Building Systems Inc Houston TX Oct16
July17               18               24                (6) -25%
Caleres Inc St Louis MO Jan17
July17               18               20                (2) -10%
HealthEquity Draper UT Jan17
July17               17                 8                 9 113%
GMS Inc Tucker GA Apr17
July17               15                 9                 6 67%
Rev Group Milwaukee WI Oct16
July17               15               13                 2 15%
LA-Z-Boy Inc Monroe MI Apr17
July17               12               14                (2) -14%
Calavo Growers Inc Santa Paula CA Oct16
July17                 9               13                (4) -31%
John Wiley & Sons Hoboken NJ Apr17
July17                 9               31              (22) -71%
Raven Industries Inc Sioux Falls SD Jan17
July17                 8                 4              4.0 100%
Bob Evans Farms Inc New Albany OH Apr17
July17                 7                 5                 2 40%
American Outdoor Brands Springfield MA Apr17
July17                (2)               35              (37) NM
H & R Block Kansas City MO Apr17
July17            (128)            (121)                (7) NM










Total all 38 Other US Companies




         3,585          2,748             837 30%










Total all 119 US Companies



       20,505        21,503            (998) -5%

It should be pointed out that:
  1. Wal-Mart reported a Pretax Loss on Debt Extinguishment of $788 Mil in the July 2017 Quarter
  2. Cisco Systems increased its Effective Income Tax Rate from 17.1% in the July 2016 Quarter to 23.8% in the July 2017 Quarter
  3. Broadcom reported Pretax Charges in the July 2016 Quarter of $271 Mil related to Purchase Accounting Effect on Inventory and of $274 Mil related to Restructuring, Impairment and Disposal Charges
  4. Hewlett Packard Enterprise reported a Pretax Divestiture Gain of $2.169 Bil in the July 2016 Quarter
  5. salesforce.com reported a $266 Mil One-Time Income Tax Benefit in its July 2016 Quarter
  6. Campbell Soup reported Pretax Gains of $198 Mil in the July 2017 Quarter as compared with Pretax Losses of $138 Mil in the July 2016 Quarter, both Related to Marking to Market its Pension and Postretirement amounts, and Campbell Soup also reported a Pretax Impairment Charge of $141 Mil in the July 2016 Quarter.