Thursday, October 19, 2017

The Virginia Financial Miracle Under Obama ..................................................................................... Virginia 56 Largest Companies Earnings Were On Fire With 2016 Total Audited Earnings of $42.942 Bil, Up 33% Over Their 2015 Total Audited Earnings of $32.351 Bil Under Obama and McAuliffe ..................................................................................... 2016 Total Earnings of $42.942 Bil Were an Earnings Improvement of $90.394 Bil From Their Total Losses of $47.452 Bil in 2008, the Year Before Obama Took Office ..................................................................................... Three Year 2014 to 2016 Total Audited Earnings Were $107 Bil, an Earnings Improvement of $159 Bil Under Obama From Their Total Losses of $52 Bil For the Three Years 2008 to 2010 ..................................................................................... Excluding Freddie Mac, Virginia 55 Largest Companies Earnings Were Also On Fire With 2016 Total Audited Earnings of $35.127 Bil, Up 35% Over Their 2015 Total Audited Earnings of $25.975 Bil Under Obama and McAuliffe ..................................................................................... Excluding Freddie Mac, Virginia 55 Largest Companies 2016 Total Audited Earnings of $35.127 Bil, Up Twelve Times Under Obama, From Their 2008 Total Audited Earnings of $2.664 Bil

Since former US President Barack Obama is campaigning today in Richmond, Virginia for Ralph Northam, who is running for Virginia's State Governor, I think it would be helpful to research just how well Virginia's many large companies have performed financially during the eight years (2009 through to 2016) of the Obama Administration.

From a review of the Google Finance Website and of company financial statements in the US SEC Website, I found the 56 Companies headquartered in the US State of Virginia with Stock Market Capitalizations either very late in 2016 or very early in 2017 of more than $1 Bil and which also have filed their fiscal year 2016 annual financial statements with the SEC.  Traditional Highly Regulated Utilities Companies were excluded.

Below here are the reported Audited US GAAP Earnings (Losses) From Continuing Operations of each of these 56 Virginia Companies for all of the fiscal years from 2008, the year before Obama took office, through 2016, the last year of the Obama Administration, where the earnings numbers were reported and also where they were prepared in a fairly consistent manner with those in the most recent years:


2016 2015 2014 2013 2012 2011 2010 2009 2008



Most Audited Audited Audited Audited Audited Audited Audited Audited Audited



Recent Net Net Net Net Net Net Net Net Net
Virginia Companies City State 2016 Income Income Income Income Income Income Income Income Income
Market Caps Above $1 Bil HQs HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)



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













Freddie Mac McLean VA Dec16       7,815       6,376       7,690     48,668     10,982     (5,266)   (14,026)   (21,554)   (50,116)













All But Freddie Mac











Altria Group Richmond VA Dec16     14,244       5,243       5,070       4,535       4,183       3,393       3,907       3,208       3,090
Capital One Financial McLean VA Dec16       3,770       4,012       4,423       4,354       3,709       3,253       3,050          987            85
General Dynamics Falls Church VA Dec16       3,062       2,965       2,673       2,486        (381)       2,552       2,628       2,407       2,478
Northrop Grumman Falls Church VA Dec16       2,200       1,990       2,069       1,952       1,978       2,086       1,904       1,573     (1,379)
Norfolk Southern Norfolk VA Dec16       1,668       1,556       2,000       1,910       1,749       1,916       1,496       1,034       1,716
Avalon Bay Communities Arlington VA Dec16       1,034          742          659            58          250          152            92            77            99
Dollar Tree Chesapeake VA Jan17          896          282          599          597          619          488          397          321          230
CarMax Richmond VA Feb17          627          623          597          493          434          414          377          282            59
Huntington Ingalls Industries Newport News VA Dec16          573          404          338          261          146        (100)          131          124     (2,420)
Tegna Inc McLean VA Dec16          495          421          756            99          126            75            
Advance Auto Parts Roanoke VA Dec16          460          473          494          392          388          395          346          270          238
Markel Corp Glen Allen VA Dec16          460          589          324          284          258          148          268          202          (58)
Verisign Reston VA Dec16          441          375          355          544          312          139            70            92            32
Willis Towers Watson plc Arlington VA Dec16          438          384          373          377        (433)          219          470          457          323
NVR Inc Reston VA Dec16          425          383          282          266          181          129          206          192          101
Hilton Worldwide Holdings McLean VA Dec16          364       1,416          682          460          352          253          128        (532)     (5,663)
AES Corp Arlington VA Dec16          361          787       1,091          700        (518)       1,575       1,481       1,809       1,929
CSRA Inc Falls Church VA Mar17          316          103          268          254          269            25          249

Orbital ATK Inc Dulles VA Dec16          293            70          (64)          165          194          218            
Booz Allen Hamilton Holding McLean VA Mar17          252          294          233          232          219          240            85            25        (436)
Leidos Holdings Reston VA Dec16          246          243        (330)            84          323        (239)          311          220          418
NewMarket Corp Richmond VA Dec16          243          239          233          242          237          205          176          162            73
Dominion Midstream Partners LP Richmond VA Dec16          230          197          107          109            97



BWX Technologies Inc Lynchburg VA Dec16          184          141            30          185                    
MAXIMUS Inc Reston VA Sep16          180          160          145          117            76            82            69          (11)            30
Graham Holdings Arlington VA Dec16          169        (141)          765            65          (49)            37            
Neustar Inc Sterling VA Dec16          169          175          164          163          156          124          124          116          134
Science Applications Intl McLean VA Jan17          148          117          141          113          182          182          208          194          176
Apple Hospitality REIT Richmond VA Dec16          145          117              7            82            69            50            (3)              3              2
CACI International Arlington VA Jun16          143          126          136          153          168          145          107            90            78
Universal Corp Richmond VA Mar17          113          118          120          155          141          101          165          170          133
Iridium Communications Inc McLean VA Dec16          111              7            75            63            65            41            20          (44)              2
Owens & Minor Mechansville VA Dec16          109          103            67          111          109          115          111          117          101
MicroStrategy Inc Tysons Corner VA Dec16            91          106              5            27            22            22            46            61            42
Pra Group Norfolk VA Dec16            91          168          177          177          126          101            74            44            45
Beacon Roofing Supply Herndon VA Sep16            90            62            54            73            76            59            35            52            40
Union Bankshares Corp Richmond VA Dec16            77            67            52            34            35            30            23              8            15
James River Group Hldgs Ltd Richmond VA Dec16            74            53            45            67              9            38


American Woodward Corp Winchester VA Apr17            71            59            35            20            10          (21)          (20)          (22)            (3)
Performance Food Group Richmond VA Jun16            68            57            16              8            21            14              1    
Trex Company Inc Winchester VA Dec16            68            48            42            35              3          (12)          (10)          (17)              5
TowneBank Portsmouth VA Dec16            67            62            42            42            38            33            30            27            24
Mantech Intl Fairfax VA Dec16            56            51            47            (6)            95          133          125          112            90
Gannett Co Inc McLean VA Dec16            53          146          211          274          277          334          431        
Cardinal Financial Corp McLean VA Dec16            50            47            33            26            45            28            18            10              0
Brink's Company Richmond VA Dec16            47          (25)          (86)            90          123          121            97          227          172
ICF Intl Inc Fairfax VA Dec16            47            39            40            39            38            35            27            22            29
Alarm.com Holdings  Tysons  VA Dec16            10            12            14              5              9            10              4

GTT Communications Inc McLean VA Dec16              5            19          (23)          (21)            (2)              0              1              0          (42)
Shenandoah Telecommunications Edinburg VA Dec16            (1)            41            34            30            17            14            19            25            26
Engility Holdings Inc Chantilly VA Dec16            (6)        (230)            40            55        (345)            26            (8)          157          166
CEB Inc Arlington VA Dec16          (35)            93            51            32            37            57            52            50            67
Genworth Financial Richmond VA Dec16          (38)            (6)     (1,205)          680          514            35          136        (485)        (655)
Computer Sciences Corp Tysons VA Mar17        (100)            72        (207)          520            (1)        (769)     (2,942)          409       1,072
Evolent Health  Arlington  VA Dec16        (227)          320          (25)            20

















Total all 55 Excluding Freddie Mac


    35,127     25,975     24,274     24,288     16,756     18,701     16,712     14,225       2,664













All 55 Cos Excluding Freddie Mac










…2016 Total Earnings % Above











…….. 2015 Total Earnings


35%







…….. 2008 Total Earnings


1218%




















Total all 56 Including Freddie Mac


    42,942     32,351     31,964     72,956     27,738     13,435       2,686     (7,329)   (47,452)













All 56 Companies











….2016 Total Earnings % Above 2015

33%




















….Earnings Improvement 2016 Over 2008

    90,394







…....Three Year Earnings (Losses):











……...... 2014 to 2016


  107,257







……...... 2008 to 2010


  (52,094)







…...….…. Three Year Earnings Improvement

  159,351











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