Tuesday, May 29, 2018

The 21 Largest Michigan Companies With Stock Market Caps Above $5 Bil Generated March 2018 Quarter Total Pretax Income Which Decreased By a Disappointing 17% From That in the March 2017 Quarter ........................................................................................ The 9 Michigan Largest Auto Industry Companies Experienced a Total Pretax Income Decline of a Clearly Disastrous 33% in the March 2018 Quarter From the March 2017 Quarter ........................................................................................ On the Other Hand, the 12 Largest Michigan Non-Auto Industry Companies, Due Predominately To the Newly Merged With the Resultant Lack of Initial High-Quality Earnings DowDupont, Posted a Total Pretax Income Increase of 16% in the March 2018 Quarter ........................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March 2018 and 2017 Quarters for all US  Companies including both Partnerships and REITs which are Headquartered in the US State of Michigan with March 2018 Quarter Ends, with stock market caps above $5 Bil very recently and which have released their March 2018 Quarter Earnings by May 24, 2018.  

I will update this quarterly earnings chart later for Companies with stock market caps somewhat below $5 Bil and also for Companies with April 2018 and May 2018 Quarter End Earnings.
 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
Michigan Companies Pretax Tax Net Pretax Tax Net Tax Tax % Change % Change
Market Caps Above $5 Bil Income Expense Income Income Expense Income Rate Rate March Qtr March Qtr
Releasing March 2018  March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr 2018 2018
 Qtr Earnings Thru 5-24-18 2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $
Auto Industry Companies
Ford Motor        1,919           174        1,745        2,251           652        1,599 9.1% 29.0% -15% 9%
General Motors        1,576           466        1,110        3,473           787        2,686 29.6% 22.7% -55% -59%
Lear Corp           452             78           374           408             89           319 17.3% 21.8% 11% 17%
Aptiv plc           375             59           316           248             19           229 15.7% 7.7% 51% 38%
BorgWarner           332             95           237           286             86           200 28.6% 30.1% 16% 19%
Autoliv           197             75           122           194             52           142 38.1% 26.8% 2% -14%
WABCO Holdings           133             26           107           100             15             85 19.5% 15.0% 33% 26%
Gentex           132             21           111           135             37             98 15.9% 27.4% -2% 13%
Adient plc          (171)            (28)          (143)           251             37           214 16.4% 14.7% -168% -167%
Total all 9 Auto Industry Cos        4,945           966        3,979        7,346        1,774        5,572 19.5% 24.1% -33% -29%
Non-Auto Industry Companies
DowDupont        1,542           389        1,153        1,128           213           915 25.2% 18.9% 37% 26%
Stryker           542             99           443           499             55           444 18.3% 11.0% 9% 0%
Kellogg           511             67           444           309             43           266 13.1% 13.9% 65% 67%
DTE Energy           419             68           351           504           110           394 16.2% 21.8% -17% -11%
Ally Financial           328             76           252           326           113           213 23.2% 34.7% 1% 18%
CMS Energy           281             40           241           295             96           199 14.2% 32.5% -5% 21%
Masco           200             39           161           210             62           148 19.5% 29.5% -5% 9%
Credit Acceptance Corp           158             38           120           144             51             93 24.1% 35.4% 10% 29%
Perrigo Co plc           111             30             81             96             24             72 27.0% 25.0% 16% 13%
Whirlpool           109             15             94           198             40           158 13.8% 20.2% -45% -41%
Domino's Pizza           104             15             89             91             28             63 14.4% 30.8% 14% 41%
Sun Communities             34              -               34             26              -               26 0.0% 0.0% 31% 31%
Total all 12 Non-Auto Industry Cos        4,339           876        3,463        3,826           835        2,991 20.2% 21.8% 13% 16%
Total all 21 Michigan Companies        9,284        1,842        7,442      11,172        2,609        8,563 19.8% 23.4% -17% -13%