Tuesday, June 5, 2018

Colorado Companies ..... First Excluding DaVita and Liberty-Related Cos Which Both Had Large Unusual Items ....................................................................................... The 44 Colorado Companies, Excluding DaVita and the 11 Liberty-Related Cos, With Market Caps of at Least $1 Bil Generated March 2018 Quarter Total Pretax Income Which Increased By a Robust 19% From Their March 2017 Quarter and It Was Broad-Based ........................................................................................ The 14 Colorado Oil & Gas Companies Generated March 2018 Quarter Total Pretax Income Which Was Up a Very Robust 36% Over the March 2017 Quarter ........................................................................................ The 9 Colorado Manufacturing Companies Generated March 2018 Quarter Total Pretax Income Which Was Up a Robust 18% Over the March 2017 Quarter ........................................................................................ The 21 Colorado Companies in Other Sectors Posted March 2018 Quarter Total Pretax Income Which Was Up an Excellent 11% Over the March 2017 Quarter ........................................................................................ I Isolated DaVita Since It Had a Settlement Gain of $527 Mil Included in Its March 2017 Pretax Income ........................................................................................ And I Isolated the 11 Liberty-Related Cos Because Some of Them Have Both Realized and Unrealized Fair Value Gains and Losses on Their Securities Included in Their Earnings, Including a Gain of $738 Mil in GCI Liberty's March 2017 Quarter Pretax Income

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 Colorado with March 2018 Quarter Ends, with stock market caps above $1 Bil recently and which have released their March 2018 Quarter Earnings by June 1, 2018.  

I will update this quarterly earnings chart later 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
Colorado Companies Pretax Tax Net Pretax Tax Net Tax Tax % Change % Change
Market Caps At Least $1 Bil Income Expense Income Income Expense Income Rate Rate March Qtr March Qtr
Releasing March 2018 Qtr  March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr March Qtr 2018 2018
 Earnings By June 1, 2018 2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $
Cos With Large Unusual Items
DaVita           302             71           231           776           282           494 23.5% 36.3% -61% -53%
Liberty Related Companies
Liberty SiriusXM Group           363             81           282           297           108           189 22.3% 36.4% 22% 49%
Liberty Broadband            (20)              (5)            (15)            (23)              (8)            (15) 25.0% 34.8% 13% 0%
Liberty Global plc          (413)           766       (1,179)          (154)           102          (256) -185.5% -66.2% -168% -361%
Liberty Latin America Ltd            (37)             17            (54)             34             23             11 -45.9% 67.6% -209% -591%
GCI Liberty            (88)             83          (171)           728           277           451 -94.3% 38.0% -112% -138%
Liberty Expedia Holdings          (389)            (65)          (324)          (511)          (154)          (357) 16.7% 30.1% -24% -9%
Qurate Retail           285             29           256           272             84           188 10.2% 30.9% 5% 36%
Liberty TripAdvisor Holdings             (19)             16            (35)              (5)               4              (9) -84.2% -80.0% 280% 289%
Liberty Braves Group            (58)              (6)            (52)            (55)              (6)            (49) 10.3% 10.9% 5% 6%
Liberty Oilfield Services             62               8             54                   8              -                 8 12.9% 0.0% 675% 575%
Liberty Formula One Group            (77)            (60)            (17)          (122)            (26)            (96) 77.9% 21.3% 37% 82%
Total all 11 Liberty Related Cos          (391)           864       (1,255)           469           404             65 -221.0% 86.1% -183% -2031%
All Cos Excluding DaVita and Liberty
Oil & Gas Cos
SM Energy           416             99           317           119             45             74 23.8% 37.8% 250% 328%
Cimarex Energy           243             57           186           209             78           131 23.5% 37.3% 16% 42%
Antero Midstream Partners LP           108              -             108             75              -               75 0.0% 0.0% 44% 44%
Antero Resources             90               9             81           437           131           306 10.0% 30.0% -79% -74%
Centennial Resource Development             90             19             71             11              -               11 21.1% 0.0% 718% 545%
SRC Energy             72               6             66             20              -               20 8.3% 0.0% 260% 230%
DCP Midstream LP             64               1             63           102               1           101 1.6% 1.0% -37% -38%
Antero Midstream GP LP             19               6             13               1               4              (3) 31.6% 400.0% 1800% -533%
Whiting Petroleum             15              -               15          (126)            (39)            (87) 0.0% 31.0% -112% -117%
PDC Energy            (18)              (5)            (13)             72             26             46 27.8% 36.1% -125% -128%
High Point Resources            (25)              -              (25)            (13)              -              (13) 0.0% 0.0% 92% 92%
Jagged Peak Energy            (30)               9            (39)          (377)             89          (466) -30.0% -23.6% -92% -92%
Extraction Oil & Gas            (66)            (14)            (52)             14               5               9 21.2% 35.7% -571% -678%
QEP Resources            (68)            (14)            (54)           123             46             77 20.6% 37.4% -155% -170%
Total all 14 Oil & Gas Cos           910           173           737           667           386           281 19.0% 57.9% 36% 162%
Manufacturing Cos
Pilgrim's Pride           156             37           119           150             49           101 23.7% 32.7% 4% 18%
Woodward             48             10             38             50             12             38 20.8% 24.0% -4% 0%
Gates Industrial Group plc             41             12             29             39             13             26 29.3% 33.3% 5% 12%
Innospec             30               8             22             23               6             17 26.7% 26.1% 30% 29%
Crocs             27             11             16             16               5             11 40.7% 31.3% 69% 45%
Maxar Technologies Ltd             24              (7)             31             10               6               4 -29.2% 60.0% 140% 675%
EchoStar            (26)              (5)            (21)             31              -               31 19.2% 0.0% -184% -168%
Molson Coors Brewing           357             75           282           281             66           215 21.0% 23.5% 27% 31%
Ball Corp           159             34           125             92             22             70 21.4% 23.9% 73% 79%
Total all 9 Manufacturing Cos           816           175           641           692           179           513 21.4% 25.9% 18% 25%
All Other Cos
Dish Networks           501           116           385           597           207           390 23.2% 34.7% -16% -1%
Newmont Mining           274           105           169           192           111             81 38.3% 57.8% 43% 109%
Western Union           235             21           214           213             51           162 8.9% 23.9% 10% 32%
Janus Henderson Group plc           210             47           163             50               7             43 22.4% 14.0% 320% 279%
Arrow Electronics           187             47           140           156             40           116 25.1% 25.6% 20% 21%
Chipotle Mexican Grill             94             35             59             74             28             46 37.2% 37.8% 27% 28%
UDR Inc             89              -               89             28              -               28 0.0% 0.0% 218% 218%
Apartment Investment&Mgt             59            (37)             96             12              (5)             17 -62.7% -41.7% 392% 465%
Advanced Energy Industries             56             10             46             40               5             35 17.9% 12.5% 40% 31%
DCT Industrial Trust             51              -               51             16              -               16 0.0% 0.0% 219% 219%
MDC Holdings             51             12             39                 36             14             22 23.5% 38.9% 42% 77%
Zayo Group Holdings             44             21             23             28               1             27 47.7% 3.6% 57% -15%
CoreSite Realty             29              -               29             25              -               25 0.0% 0.0% 16% 16%
CSG Systems Intl             20               6             14             22               2             20 30.0% 9.1% -9% -30%
National Storage Affiliates Trust             12              -               12               7              -                 7 0.0% 0.0% 71% 71%
National Bank Holdings             10               2               8               7              (1)               8 20.0% -14.3% 43% 0%
TTEC Holdings               8               2               6             25               5             20 25.0% 20.0% -68% -70%
Array BioPharma            (23)              -              (23)            (35)              -              (35) 0.0% 0.0% -34% -34%
Summit Materials            (73)            (17)            (56)            (57)              (2)            (55) 23.3% 3.5% 28% 2%
Clovis Oncology            (78)              -              (78)            (58)              -              (58) 0.0% 0.0% 34% 34%
Royal Gold Inc          (200)            (46)          (154)             28               6             22 23.0% 21.4% -814% -800%
Total all 21 Other Cos        1,556           324        1,232        1,406           469           937 20.8% 33.4% 11% 31%
Total all 44 Cos Excluding
….. DaVita and Liberty-Related        3,282           672        2,610        2,765        1,034        1,731 20.5% 37.4% 19% 51%
Total all 56 Colorado Cos        3,193        1,607        1,586        4,010        1,720        2,290 50.3% 42.9% -20% -31%


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