Friday, June 8, 2018

Florida Companies ..... Utility Giant NextEra Energy Which Recorded a Massive $3.9 Bil Gain Related To a Deconsolidation in Its March 2018 Quarter Was Replaced By Its Huge Subsidiary Florida Power & Light Whose Earnings Numbers Are Much More Meaningful Than NextEra Energy's ....................................................................................... The 63 FL Companies With Market Caps of at Least $1 Bil Posted March 2018 Quarter Total Pretax Income (PTI) of $5.4 Bil, Up a Robust 19% From Their March 2017 Quarter ....................................................................................... First For The Very Good News ....................................................................................... The 11 FL Financial Cos Excluding the REITs With Market Caps of at Least $1 Bil Posted March 2018 Quarter Total Pretax Income (PTI) of $5.4 Bil, Up a Very Robust 29% From Their March 2017 Quarter ....................................................................................... The 6 FL REITs With Market Caps of at Least $1 Bil Posted March 2018 Quarter Total PTI Which Increased By an Exceptional 43% From Their March 2017 Quarter ....................................................................................... The FL Large Railroad Co CSX Posted March 2018 Quarter Total PTI of $912 Mil, Up an Exceptional 57%, and Also Increased Its After-Tax Net Income By an Even More Exceptional 92%, Both Over the March 2017 Quarter, While at the Same Time Reducing Markedly Its Total Payroll and Employee Benefit Costs ........................................................................................ The 10 FL Manufacturing Cos Posted March 2018 Quarter Total PTI Which Increased By a Very Robust 31% From Their March 2017 Quarter ....................................................................................... The 5 FL Technology Cos Posted March 2018 Quarter Total PTI Which Increased By a Robust 20% From Their March 2017 Quarter ....................................................................................... The 8 FL Vacation Services Cos Posted March 2018 Quarter Total PTI Which Increased By a Robust 19% From Their March 2017 Quarter ....................................................................................... The 3 FL Asset Leasing Services Cos Reduced Their March 2017 Pretax Losses, Resulting in a March 2018 Quarter Total Earnings Improvement of 31% From Their March 2017 Quarter ....................................................................................... Now For The Not So Good News ....................................................................................... The 4 FL Retailing Cos Posted March 2018 Quarter Total PTI Which Declined By 4% From Their March 2017 Quarter ....................................................................................... The 4 FL Health Care Cos Posted March 2018 Quarter Total PTI Which Declined By a Huge 42% From Their March 2017 Quarter ....................................................................................... The 2 FL Utility Cos Posted March 2018 Quarter Total PTI Which Declined By 24% From Their March 2017 Quarter ...................................................................................... And the 9 FL Cos in Various Other Sectors Posted March 2018 Quarter Total PTI Which Also Declined By 24% From Their March 2017 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 Florida 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
Florida 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 $
Financial Cos
Raymond James Financial           331             89           242           161             53           108 26.9% 32.9% 106% 124%
Affiliated Managers Group           288             64           224           253             60           193 22.2% 23.7% 14% 16%
Fidelity Natl Info Services           224             34           190           209             74           135 15.2% 35.4% 7% 41%
WellCare Health Plans           159             57           102           103             36             67 35.8% 35.0% 54% 52%
Fidelity National Financial           129             31             98           129             69             60 24.0% 53.5% 0% 63%
Brown & Brown           119             28             91           111             41             70 23.5% 36.9% 7% 30%
BankUnited           111             26             85             90             28             62 23.4% 31.1% 23% 37%
Universal Insurance Holdings             52             12             40             47             16             31 23.1% 34.0% 11% 29%
FCB Financial Holdings             48               8             40             43               4             39 16.7% 9.3% 12% 3%
CenterState Bank             41               5             36             24               7             17 12.2% 29.2% 71% 112%
Seacoast Banking Corp Florida             24               6             18             12               4               8 25.0% 33.3% 100% 125%
Total all 11 Financial Cos        1,526           360        1,166        1,182           392           790 23.6% 33.2% 29% 48%
Real Estate Investment Trusts
National Retail Properties           103              -             103             74              -               74 0.0% 0.0% 39% 39%
Regency Centers             53              -               53            (21)              -              (21) 0.0% 0.0% 352% 352%
Rayonier             50               7             43             41               6             35 14.0% 14.6% 22% 23%
ARMOUR Residential REIT             45              -               45             53              -               53 0.0% 0.0% -15% -15%
SBA Communications             40               9             31             41               3             38 22.5% 7.3% -2% -18%
GEO Group             40               5             35             43               3             40 12.5% 7.0% -7% -13%
Total all 6 REITs           331             21           310           231             12           219 6.3% 5.2% 43% 42%
Railroad Co
CSX Corp           912           217           695           582           220           362 23.8% 37.8% 57% 92%
Manufacturing Cos
Roper Technologies           255             44           211           211             53           158 17.3% 25.1% 21% 34%
Harris Corp           215             12           203           233             69           164 5.6% 29.6% -8% 24%
Platform Specialty Products           103             65             38              (5)             19            (24) 63.1% -380.0% 2160% 258%
Tupperware Brands             58             23             35             64             17             47 39.7% 26.6% -9% -26%
Rayonier Advanced Mayterials             34             10             24             18               8             10 29.4% 44.4% 89% 140%
Masonite Intl             29               7             22             23              (2)             25 24.1% -8.7% 26% -12%
Sun Hydraulics             16               4             12             15               5             10 25.0% 33.3% 7% 20%
Welbilt             13              -               13               7               2               5 0.0% 28.6% 86% 160%
PGT Innovations               9               2               7               4               1               3 22.2% 25.0% 125% 133%
Vector Group Ltd               6               2               4              (7)              (3)              (4) 33.3% 42.9% 186% 200%
Total all 10 Manufacturing Cos           738           169           569           563           169           394 22.9% 30.0% 31% 44%
Technology Cos
Citrix Systems           151               7           144           120             50             70 4.6% 41.7% 26% 106%
Black Knight             55             12             43             40               6             34 21.8% 15.0% 38% 26%
Ultimate Software Group             22               1             21               3              (4)               7 4.5% -133.3% 633% 200%
Sykes Enterprises             13               2             11             25               7             18 15.4% 28.0% -48% -39%
ACI Worldwide            (23)              (4)            (19)              (6)              (4)              (2) 17.4% 66.7% -283% -850%
Total all 5 Technology Cos           218             18           200           182             55           127 8.3% 30.2% 20% 57%
Vacation Services Cos
Royal Caribbean           219              -             219           215              -             215 0.0% 0.0% 2% 2%
Norwegian Cruise Line           106               3           103             64               2             62 2.8% 3.1% 66% 66%
ILG Inc             65             20             45             70             25             45 30.8% 35.7% -7% 0%
Xenia Hotel & Resorts             62               5             57             10               2               8 8.1% 20.0% 520% 613%
Marriott Vacations Worldwide             47             11             36             44             16             28 23.4% 36.4% 7% 29%
Hilton Grand Vacations             40             10             30             76             26             50 25.0% 34.2% -47% -40%
Bluegreen Vacations             31               7             24             31             11             20 22.6% 35.5% 0% 20%
SeaWorld Entertainment            (86)            (23)            (63)          (103)            (42)            (61) 26.7% 40.8% 17% -3%
Total all 8 Vacation Services           484             33           451           407             40           367 6.8% 9.8% 19% 23%
Leasing Services Cos
Ryder System             48             14             34             61             22             39 29.2% 36.1% -21% -13%
Herc Holdings            (15)              (5)            (10)            (54)            (15)            (39) 33.3% 27.8% 72% 74%
Hertz Global Holdings          (231)            (29)          (202)          (294)            (71)          (223) 12.6% 24.1% 21% 9%
Total all 3 Leasing Services          (198)            (20)          (178)          (287)            (64)          (223) 10.1% 22.3% 31% 20%
Retailing Cos
Restaurant Brands Intl           281               2           279           204             38           166 0.7% 18.6% 38% 68%
AutoNation           126             33             93           160             62             98 26.2% 38.8% -21% -5%
Bloomin Brands             68               2             66             68             18             50 2.9% 26.5% 0% 32%
Office Depot             55             22             33           121             47             74 40.0% 38.8% -55% -55%
Total all 4 Retailing Cos           530             59           471           553           165           388 11.1% 29.8% -4% 21%
Health Care Cos
Mednax             87             24             63             90             35             55 27.6% 38.9% -3% 15%
AxoGen              (6)              -                (6)              (4)              -                (4) 0.0% 0.0% -50% -50%
Therapeutics MD            (24)              -              (24)            (21)              -              (21) 0.0% 0.0% -14% -14%
OPKO Health            (42)              (1)            (41)            (39)              (7)            (32) 2.4% 17.9% -8% -28%
Total all 4 Health Care Cos             15             23              (8)             26             28              (2) 153.3% 107.7% -42% 300%
Utility Cos
Florida Power & Light 596 112           484 708 263           445 18.8% 37.1% -16% 9%
NextEra Energy Partners LP              (2)             19            (21)             72             14             58 -950.0% 19.4% -103% -136%
Total all 2 Utility Cos           594           131           463           780           277           503 22.1% 35.5% -24% -8%
Cos in All Other Sectors
Landstar System             74             17             57             51             19             32 23.0% 37.3% 45% 78%
Watsco             53             11             42             48             14             34 20.8% 29.2% 10% 24%
Fresh Del Monte Produce             49               6             43             53               7             46 12.2% 13.2% -8% -7%
World Fuel Services             38               7             31             36               5             31 18.4% 13.9% 6% 0%
MasTec             37             11             26             68             27             41 29.7% 39.7% -46% -37%
TopBuild             31               5             26              (5)              (3)              (2) 16.1% 60.0% 720% 1400%
Advanced Disposal Services               3               1               2            (12)              (5)              (7) 33.3% 41.7% -125% -129%
St Joe Co              -                -                -                 6               2               4 NM 33.3% -100% -100%
Spirit Airlines            (60)            (15)            (45)             51             20             31 25.0% 39.2% -218% -245%
Total 9 in Other Sectors           225             43           182           296             86           210 19.1% 29.1% -24% -13%
Total 63 Florida Cos        5,375        1,054        4,321        4,515        1,380        3,135 19.6% 30.6% 19% 38%



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