Friday, May 25, 2018

The 25 Largest New Jersey Companies With Stock Market Caps Above $5 Bil Generated March 2018 Quarter Total Pretax Income of $12.815 Bil, a Very Disappointing Decline of 7% From That in the March 2017 Quarter ........................................................................................ Consistent With the Horrible March 2018 Quarter Earnings of Health Care Companies in California and in Massachusetts, New Jersey's 10 Largest Health Care Companies Generated Total Pretax Income Which Declined By a Disastrous 21% From That in the March 2017 Quarter ........................................................................................ A State Knows Its Economy Has Gone Down the Tubes When Its Strongest Earnings Growth By Far is in the Utility Sector ..... The 3 Largest New Jersey Utility Companies Posted March 2018 Quarter Pretax Income Growth of an Off-the-Charts 884% ........................................................................................ And Despite Another Strong Earnings Performance From Honeywell, the 12 Companies in All Other Industries Experienced a Total Pretax Income Decline of a Very Disappointing 9%

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 New Jersey 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
New Jersey 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 $
Health Care Companies
Johnson & Johnson        5,481        1,114        4,367        5,575        1,153        4,422 20.3% 20.7% -2% -1%
Merck        1,345           604           741        2,003           447        1,556 44.9% 22.3% -33% -52%
Celgene        1,030           184           846        1,014             82           932 17.9% 8.1% 2% -9%
Zoetis           417             67           350           337             98           239 16.1% 29.1% 24% 46%
Quest Diagnostics           241             52           189           253             78           175 21.6% 30.8% -5% 8%
Catalent             33             14             19             35               9             26 42.4% 25.7% -6% -27%
Integra Lifesciences Holdings               9              (2)             11               5              (2)               7 -22.2% -40.0% 80% 57%
Becton Dickinson               6             18            (12)           362             18           344 300.0% 5.0% -98% -103%
Allergan plc (1)          (966)          (682)          (284)       (3,093)          (532)       (2,561) 70.6% 17.2% 69% 89%
Valeant Pharmaceuticals (2)       (2,694)              (3)       (2,691)          (295)          (924)           629 0.1% 313.2% -813% -528%
Total all 10 Health Care Cos        4,902        1,366        3,536        6,196           427        5,769 27.9% 6.9% -21% -39%
Utilities
Public Service Enterprise           760           202           558           143             29           114 26.6% 20.3% 431% 389%
NRG Energy           232              (1)           233          (173)              (4)          (169) -0.4% 2.3% 234% 238%
American Water Works           140             34           106           145             52             93 24.3% 35.9% -3% 14%
Total all 3 Utility Cos        1,132           235           897           115             77             38 20.8% 67.0% 884% 2261%
All Other Companies
Honeywell        1,909           458        1,451        1,724           392        1,332 24.0% 22.7% 11% 9%
Prudential Financial        1,716           352        1,364        1,767           395        1,372 20.5% 22.4% -3% -1%
Automatic Data Processing           853           210           643           828           240           588 24.6% 29.0% 3% 9%
Cognizant Technology           697           177           520           649             92           557 25.4% 14.2% 7% -7%
Everest Re Group Ltd           218               7           211           338             47           291 3.2% 13.9% -36% -27%
Church & Dwight           201             43           158           190             59           131 21.4% 31.1% 6% 21%
Verisk Analytics           162             29           133           161             52           109 17.9% 32.3% 1% 22%
CIT Group           145             41           104           134             56             78 28.3% 41.8% 8% 33%
Wyndham Worldwide           121             40             81           153             26           127 33.1% 17.0% -21% -36%
Pinnacle Foods             74             17             57             30               7             23 23.0% 23.3% 147% 148%
PBF Energy             53             11             42            (39)            (19)            (20) 20.8% 48.7% 236% 310%
Newell Brands               2            (51)             53           790           152           638 -2550.0% 19.2% -100% -92%
Total all 12 Other Companies        6,151        1,334        4,817        6,725        1,499        5,226 21.7% 22.3% -9% -8%
Total all 25 New Jersey Cos      12,185        2,935        9,250      13,036        2,003      11,033 24.1% 15.4% -7% -16%

(1) Allergan plc's legal HQs is in Ireland but its Administrative Office is in Madison, New Jersey.

 (2) Valeant Pharmaceutical's legal HQs is in Quebec, Canada.  It has an Administrative Office in Bridgewater, New Jersey.  60% of its Total Revenues and 43% of its Property, Plant and Equipment are in the US and Puerto Rico.  

Posted by at