Wuerth While Wily Wakenings: US Rubber and Miscellaneous Plastics Products Manufacturing (12) Companies With Market Caps Above $1 Bil 2Q 2017 Total Earnings Were $1.566 Bil, Up $242 Mil or Up 18% From the $1.324 Bil Total Earnings in the 2Q 2016 ..................................................................................... One Substantial Quality of Earnings Problem Is That the Dominant, Stellar Nike, Which Comprised 64% Of These 12 Companies 2Q 2017 Total Earnings, Dramatically Reduced Its Effective Income Tax Rate From 21.2% in the 2Q 2016 Down To Only 13.7% in the 2Q 2017 and thus its Pretax Income Increased By 9% in the 2Q 2017, Much Less Than Its After-Tax Net Income Increase of 19% ..................................................................................... All 11 of These Companies Other Than Nike Generated 2Q 2017 Total Earnings of $558 Mil, Up $80 Mil From the $478 Mil Total Earnings in the 2Q 2016 ..................................................................................... The Largest of These Remaining 11 Companies Newell Brands Increased Its 2Q 2017 Earnings By $87 Mil: However, Newell Brands Also Had a Substantial Quality of Earnings Problem Since Its 2Q 2016 Earnings Were Burdened With a $334 Mil Cost of Sales Charge From Inventories Acquired Being Stepped-Up ..................................................................................... The Remaining 10 Companies Had Their 2Q 2017 Total Earnings Decline By $7 Mil or By 2%, However, the Largest of These 10, the Very Well-Run, Excellent Acquisition-Integrator Berry Global Group, Had a High Quality Of Earnings Since It Increased Its Earnings in the 2Q 2017 By $11 Mil or By 11.5%, Despite Increasing Its Effective Income Tax Rate From 20.0% in the 2Q 2016 to 26.2% in the 2Q 2017 and Also Despite Having Its 2Q 2017 Other Income Being $13 Mil Lower Than That in the 2Q 2016

Sunday, September 3, 2017

US Rubber and Miscellaneous Plastics Products Manufacturing (12) Companies With Market Caps Above $1 Bil 2Q 2017 Total Earnings Were $1.566 Bil, Up $242 Mil or Up 18% From the $1.324 Bil Total Earnings in the 2Q 2016 ..................................................................................... One Substantial Quality of Earnings Problem Is That the Dominant, Stellar Nike, Which Comprised 64% Of These 12 Companies 2Q 2017 Total Earnings, Dramatically Reduced Its Effective Income Tax Rate From 21.2% in the 2Q 2016 Down To Only 13.7% in the 2Q 2017 and thus its Pretax Income Increased By 9% in the 2Q 2017, Much Less Than Its After-Tax Net Income Increase of 19% ..................................................................................... All 11 of These Companies Other Than Nike Generated 2Q 2017 Total Earnings of $558 Mil, Up $80 Mil From the $478 Mil Total Earnings in the 2Q 2016 ..................................................................................... The Largest of These Remaining 11 Companies Newell Brands Increased Its 2Q 2017 Earnings By $87 Mil: However, Newell Brands Also Had a Substantial Quality of Earnings Problem Since Its 2Q 2016 Earnings Were Burdened With a $334 Mil Cost of Sales Charge From Inventories Acquired Being Stepped-Up ..................................................................................... The Remaining 10 Companies Had Their 2Q 2017 Total Earnings Decline By $7 Mil or By 2%, However, the Largest of These 10, the Very Well-Run, Excellent Acquisition-Integrator Berry Global Group, Had a High Quality Of Earnings Since It Increased Its Earnings in the 2Q 2017 By $11 Mil or By 11.5%, Despite Increasing Its Effective Income Tax Rate From 20.0% in the 2Q 2016 to 26.2% in the 2Q 2017 and Also Despite Having Its 2Q 2017 Other Income Being $13 Mil Lower Than That in the 2Q 2016

From a review of the Google Finance Website and of company financial statements in the US SEC website, I found the 12 Rubber and Miscellaneous Plastics Products Manufacturing Companies (SEC Standard Identification Codes 3000s) headquartered in the US with Stock Market Capitalizations of more than $1 Bil very recently and which have filed their Calendar Second Quarter 2017 Financial Statements with the SEC.

Below here are the Total Reported US GAAP Earnings (Losses) From Continuing Operations for the Second Calendar Quarters of both 2017 and 2016 for each of these 12 largest US Rubber and Miscellaneous Plastics Products Manufacturing Companies.

					Calendar	Calendar
					2Q 17	2Q 16
US Manufacturing Companies				Calendar	US GAAP	US GAAP	Net	Net
Other Than Oil & Gas and Technology			Most	2Q 17	Net	Net	Income	Income
Rubber&Miscellaneous Plastics Products (SIC 3000s)	City	State	Recent	Month	Income	Income	Better	Better
Stock Market Caps Above $1 Bil	HQs	HQs	FYE	End	(Loss)	(Loss)	(Worse)	(Worse)
					$ mils	$ mils	$ mils	%

Nike	Beaverton	OR	May17	May17	1,008	846	162	19%

Newell Brands	Hoboken	NJ	Dec16	June17	223	136	87	64%

All 10 But Nike and Newell Brands
Berry Global Group	Evansville	IN	Sep16	June17	107	96	11	11%
Carlisle Companies Inc	Scottsdale	AZ	Dec16	June17	102	115	(13)	-11%
AptarGroup Inc	Crystal Lake	IL	Dec16	June17	65	59	6	10%
Armstrong World Industries	Lancaster	PA	Dec16	June17	42	17	25	147%
Entegris Inc	Billerica	MA	Dec16	June17	40	33	7	21%
Advanced Drainage Systems	Hilliard	OH	Mar16	June17	18	19	(1)	-5%
Raven Industries Inc	Sioux Falls	SD	Jan17	Apr17	12	6	6	100%
EnPro Industries Inc	Charlotte	NC	Dec16	June17	9	4	5	125%
Tupperware Brands	Orlando	FL	Dec16	June17	(18)	52	(70)	NM
Deckers Outdoor Corp	Goleta	CA	Mar16	June17	(42)	(59)	17	NM

Total all 10 But Nike and Newell Brands					335	342	(7)	-2%

Total all 11 But Nike					558	478	80	17%

Total all 12					1,566	1,324	242	18%