Saturday, April 28, 2018

The 16 US Financial Corps With Market Caps Above $50 Bil Generated US GAAP March 2018 Quarter Total Pretax Earnings Which Increased By 13% Over Their March 2017 Quarter, Mainly By Sharing Very Little of Their Economic Benefit From US Fed Short-Term Interest Rate Increases With Their Bank Customers ........................................................................................ These 16 US Financial Corps Generated US GAAP March 2018 Quarter Total After-Tax Earnings Which Increased By 24% Over Their March 2017 Quarter, Largely Due To Huge Tax Cuts Bestowed on Them By the Trump Tax Cuts Act ........................................................................................ Consistent With the Trump Tax Cuts Act, These 16 US Financial Corps Posted a March 2018 Quarter Effective Income Tax Rate of 19.3%, Down Sharply From Their March 2017 Quarter Effective Income Tax Rate of 26.2% ........................................................................................ In Other Words, These 16 Financial Companies Got Very Little of Their 1Q 2018 Earnings Growth on Their Own, Instead Nearly All of Their Earnings Growth Came From the US Government Actions From the US Fed Increasing Short-Term Interest Rates and From the Sharp Reduction in Corporate Income Tax Rates In the Trump Tax Cuts Act ........................................................................................ But On The Very Negative Side, With US GDP Growth of Only 2.3% in the 1Q 2018, With Weak 1Q 2018 US Consumer Spending and With The Huge and Growing Annual US Federal Deficits From the Trump Tax Cuts Act, This Shows That the Very Costly Benefits From the Trump Tax Cuts Act Are Not Trickling Down to the Middle and Lower US Economic Classes and That US Income Inequality Continues to Expand Enormously

The following financial information comes from SEC filings:
 US GAAP   US GAAP   US GAAP   US GAAP 
 US GAAP   US GAAP   Effective   Effective  Pretax Net
 US GAAP   Income   US GAAP   US GAAP   Income   US GAAP   Income   Income  Income Income
Pretax Tax Net Pretax Tax Net Tax Tax % Change % Change
Income Expense Income Income Expense Income Rate Rate March Qtr March Qtr
US Financial Company March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr 2018 2018
With Market Caps > $50 Bil 2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $
JPMorgan Chase       10,662         1,950         8,712         8,341         1,893         6,448 18.3% 22.7% 28% 35%
Bank of America         8,394         1,476         6,918         7,320         1,983         5,337 17.6% 27.1% 15% 30%
Wells Fargo         7,501         1,374         6,127         7,858         2,133         5,725 18.3% 27.1% -5% 7%
Citigroup         6,090         1,441         4,649         5,981         1,863         4,118 23.7% 31.1% 2% 13%
Goldman Sachs         3,419            587         2,832         2,539            284         2,255 17.2% 11.2% 35% 26%
Morgan Stanley         3,420            714         2,706         2,808            815         1,993 20.9% 29.0% 22% 36%
American Express         2,082            448         1,634         1,839            588         1,251 21.5% 32.0% 13% 31%
US Bancorp         2,073            391         1,682         2,035            549         1,486 18.9% 27.0% 2% 13%
BlackRock         1,359            265         1,094         1,136            268            868 19.5% 23.6% 20% 26%
Charles Schwab         1,002            219            783            843            279            564 21.9% 33.1% 19% 39%
PNC Financial Services         1,492            253         1,239         1,394            320         1,074 17.0% 23.0% 7% 15%
Bank of New York Mellon         1,444            282         1,162         1,206            269            937 19.5% 22.3% 20% 24%
CME Group            789            190            599            707            307            400 24.1% 43.4% 12% 50%
Total all 16       49,727         9,590       40,137       44,007       11,551       32,456 19.3% 26.2% 13% 24%

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The 6 US Technology Corps With Market Caps Above $200 Bil Which Have Reported Their March 2018 Earnings By April 27, 2018 Generated US GAAP March 2018 Quarter Total Earnings Which Increased By 69% Over Their March 2017 Quarter ........................................................................................ Consistent With the Trump Tax Cuts Act, These 6 US Techs Posted a March 2018 Quarter Effective Income Tax Rate of 12.7%, Down Dramatically From Their March 2017 Quarter Effective Income Tax Rate of 27.0% ........................................................................................ On the Positive Side, This Shows Just How Powerful the US Technology Trend Continues ........................................................................................ But On The Very Negative Side, With US GDP Growth of Only 2.3% in the 1Q 2018, With Weak 1Q 2018 US Consumer Spending and With The Huge and Growing Annual US Federal Deficits From the Trump Tax Cuts Act, This Also Shows That the Very Costly Benefits From the Trump Tax Cuts Act Are Not Trickling Down to the Middle and Lower US Economic Classes and That US Income Inequality Continues to Expand Enormously

The following financial information comes from SEC filings:

 US GAAP   US GAAP   US GAAP   US GAAP 
 US GAAP   US GAAP   Effective   Effective  Pretax Net
 US GAAP   Income   US GAAP   US GAAP   Income   US GAAP   Income   Income  Income Income
US Technology Company Pretax Tax Net Pretax Tax Net Tax Tax % Change % Change
With Market Caps > $200 Bil Income Expense Income Income Expense Income Rate Rate March Qtr March Qtr
Releasing March 2018 Quarter March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr 2018 2018
Earnings Through 4-27-18  2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $
Microsoft         8,641         1,217         7,424         7,094         1,608         5,486 14.1% 22.7% 22% 35%
Alphabet       10,543         1,142         9,401         6,819         1,393         5,426 10.8% 20.4% 55% 73%
Amazon.com         1,916            287         1,629            953            229            724 15.0% 24.0% 101% 125%
Facebook         5,610            622         4,988         3,408            344         3,064 11.1% 10.1% 65% 63%
Visa         3,217            612         2,605         2,702         2,272            430 19.0% 84.1% 19% 506%
Intel         5,011            557         4,454         3,815            851         2,964 11.1% 22.3% 31% 50%
Total all 6       34,938         4,437       30,501       24,791         6,697       18,094 12.7% 27.0% 41% 69%

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Friday, April 27, 2018

36 Largest US Utility Corps Generated 2017 Total Audited Earnings of $38.623 Bil, Up 36% Over Their 2016 Total Audited Earnings of $28.406 Bil ........................................................................................ Leading the Pack in Highest Percentage of 2017 Earnings Growth Was Houston, Texas-Based CenterPoint Energy Up a Spectacular 315%, Followed By Chicago-Based Exelon Up 220%, Columbus, Ohio-Based American Electric Power Up 211% and New Orleans-Based Entergy Up 175%

From SEC filings, below here is Net Income (Loss) From Continuing Operations for years 2017 and 2016 for the 36 largest US Utility Corporations, all with either stock market caps Over $5 Bil or with Book Value of Equity of more than $5 Bil.
 
Audited Audited
US GAAP US GAAP
Net Net
Income Income
(Loss) (Loss)
From From
Continuing Continuing
US Utility Corporation Operations Operations
Stock Market Caps > $5 Bil or State Year Annual Annual Better Better
Book Value of Stk Equity > $5 Bil City Hqs HQs End  2017   2016  (Worse) (Worse)
mils $ mils $ mils $ %
CenterPoint Energy Houston TX Dec            1,792               432       1,360 315%
Exelon Corp Chicago IL Dec            3,849            1,204       2,645 220%
American Electric Power Columbus OH Dec            1,929               621       1,308 211%
Entergy New Orleans LA Dec               425             (565)          990 175%
OGE Energy Oklahoma City OK Dec               619               338          281 83%
Public Service Enterprise Group Newark NJ Dec            1,574               887          687 77%
NextEra Energy Juno Beach FL Dec            5,320            3,005       2,315 77%
First Energy Akron OH Dec          (1,724)          (6,177)       4,453 72%
Dominion Energy Richmond VA Dec            3,120            2,212          908 41%
DTE Energy Detroit MI Dec            1,112               834          278 33%
WEC Energy Group Milwaukee WI Dec            1,205               940          265 28%
Consolidated Edison New York NY Dec            1,525            1,245          280 22%
MDU Resources Bismark ND Dec               285               233            52 22%
Alliant Energy Madison WI Dec               466               384            82 21%
Duke Energy Charlotte NC Dec            3,070            2,578          492 19%
PG&E Corp San Francisco CA Dec            1,660            1,407          253 18%
Berkshire Hathaway Energy Sub Des Moines IA Dec            2,910            2,570          340 13%
Atmos Energy Dallas TX Sept               383               346            37 11%
Pinnacle West Capital Corp Phoenix AZ Dec               508               462            46 10%
UGI Corp King of Prussia PA Sept               524               489            35 7%
Eversource Energy Springfield MA Dec               996               950            46 5%
AquaAmerica Bryn Mawr PA Dec               240               234              6 3%
Xcel Energy Minneapolis MN Dec            1,148            1,123            25 2%
Vectren Evansville IN Dec               216               212              4 2%
Westar Energy Topeka KS Dec               553               603          (50) -8%
American Water Works Vorhees NJ Dec               426               468          (42) -9%
CMS Energy Jackson MI Dec               462               553          (91) -16%
Ameren St Louis MO Dec               529               659        (130) -20%
Avangrid New Haven CT Dec               382               632        (250) -40%
PPL Corp Allentown PA Dec            1,128            1,902        (774) -41%
Edison International Rosemead CA Dec               668            1,413        (745) -53%
NiSource Merrillville IN Dec               129               328        (199) -61%
Southern Co Atlanta GA Dec            1,068            3,480     (2,412) -69%
Sempra Energy San Diego CA Dec               351            1,519     (1,168) -77%
SCANA Corp Cayce SC Dec             (119)               595        (714) -120%
Great Plains Energy Kansas City MO Dec             (106)               290        (396) -137%
Total all 36          38,623          28,406     10,217 36%



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