Texas Companies Firing On All Cylinders With the 207 Texas Companies With Market Caps of at Least $1 Bil Posting March 2018 Quarter Total Pretax Income of $42.576 Bil, Up a Superlative 40% From Their March 2017 Quarter and It Was Clearly Broad-Based ........................................................................................ Propelled By Substantially Higher Oil & Gas Prices and By the US Government Opening the Floodgates on Increased US Oil Exports, the 96 Texas Oil & Gas Companies Generated March 2018 Quarter Total Pretax Income of $25.030 Bil, Up a Blistering 67% Over the March 2017 Quarter ........................................................................................ Texas Ethically-Challenged Giant Telecom Company AT&T Posted a Pretax Income Increase of 14% and an After-Tax Net Income Increase of a Substantially Higher 33% in the March 2018 Quarter ........................................................................................ The 21 Texas Manufacturing Companies Generated March 2018 Quarter Total Pretax Income Which Increased By a Robust 22% Over the March 2017 Quarter ........................................................................................ The 33 Texas Financial Companies Generated March 2018 Quarter Total Pretax Income Which Increased By a Very Robust 27% Over the March 2017 Quarter ........................................................................................ The 21 Texas Technology Companies Generated March 2018 Quarter Total Pretax Income Which Increased By a Very Robust 26% Over the March 2017 Quarter ........................................................................................ The 3 Texas Utility Companies Reported a Huge Total Earnings Decline, But Even the 40 Texas Companies in All Other Sectors Had Their Total Pretax Income Increase By an Impressive 15% 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 Texas 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
Texas 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 $
Oil & Gas Cos
Exxon Mobil	7,240	2,457	4,783		5,918	1,828	4,090		33.9%	30.9%		22%	17%
ConocoPhillips	1,776	876	900		(232)	(831)	599		49.3%	358.2%		866%	50%
Concho Resources	1,089	254	835		1,021	371	650		23.3%	36.3%		7%	28%
Occidental Petroleum	1,047	339	708		195	78	117		32.4%	40.0%		437%	505%
Enterprise Products Partners LP	917	5	912		777	6	771		0.5%	0.8%		18%	18%
Energy Transfer Partners LP	839	(40)	879		448	55	393		-4.8%	12.3%		87%	124%
EOG Resources	813	175	638		39	11	28		21.5%	28.2%		1985%	2179%
Valero Energy	731	149	582		433	112	321		20.4%	25.9%		69%	81%
Phillips 66	717	132	585		797	234	563		18.4%	29.4%		-10%	4%
Energy Transfer Equity LP	716	(10)	726		368	38	330		-1.4%	10.3%		95%	120%
Kinder Morgan	706	164	542		691	246	445		23.2%	35.6%		2%	22%
Schlumberger Ltd	643	113	530		334	50	284		17.6%	15.0%		93%	87%
Cheniere Energy Inc	615	15	600		172	-	172		2.4%	0.0%		258%	249%
Noble Energy	543	(31)	574		59	12	47		-5.7%	20.3%		820%	1121%
Marathon Oil	524	168	356		(16)	34	(50)		32.1%	-212.5%		3375%	812%
D R Horton	445	94	351		354	125	229		21.1%	35.3%		26%	53%
Spectra Energy Partners	423	5	418		359	5	354		1.2%	1.4%		18%	18%
Apache Corp	388	182	206		538	271	267		46.9%	50.4%		-28%	-23%
HollyFrontier	374	85	289		(55)	(17)	(38)		22.7%	30.9%		780%	861%
Plains All America	349	61	288		510	66	444		17.5%	12.9%		-32%	-35%
Plains GP Holdings LP	348	75	273		508	106	402		21.6%	20.9%		-31%	-32%
Cheniere Energy Partners LP	335	-	335		47	-	47		0.0%	0.0%		613%	613%
Anadarko Petroleum	300	126	174		(178)	97	(275)		42.0%	-54.5%		269%	163%
Andeavor	288	59	229		108	21	87		20.5%	19.4%		167%	163%
Atmos Energy	241	62	179		259	97	162		25.7%	37.5%		-7%	10%
Pioneer Natural Resources	228	50	178		(73)	(31)	(42)		21.9%	42.5%		-412%	-524%
Diamondback Energy	225	47	178		143	2	141		20.9%	1.4%		57%	26%
Southwestern Energy	208	-	208		351	-	351		0.0%	0.0%		-41%	-41%
Halliburton	189	142	47		(57)	(25)	(32)		75.1%	43.9%		432%	247%
Phillips 66 Partners LP	174	2	172		110	-	110		1.1%	0.0%		58%	56%
Enbridge Energy Partners LP	172	-	172		180	1	179		0.0%	0.6%		-4%	-4%
Cabot Oil & Gas	157	40	117		169	63	106		25.5%	37.3%		-7%	10%
Western Gas Partners	154	2	152		108	4	104		1.3%	3.7%		43%	46%
CV Refining LP	147		147		67		67		0.0%	0.0%		119%	119%
Technip FMC plc	141	49	92		37	52	(15)		34.8%	140.5%		281%	-713%
Andeavor Logistics LP	139	-	139		92	-	92		0.0%	0.0%		51%	51%
NuStar Energy LP	130	4	126		61	3	58		3.1%	4.9%		113%	117%
Parsley Energy	129	23	106		56	18	38		17.8%	32.1%		130%	179%
CVR Energy	125	21	104		53	15	38		16.8%	28.3%		136%	174%
Cheniere Energy Partners LP LLC	119	(4)	123		4	-	4		-3.4%	0.0%		2875%	2975%
Buckeye Partners LP	117	-	117		126	-	126		0.0%	0.0%		-7%	-7%
RSP Permian	112	22	90		54	15	39		19.6%	27.8%		107%	131%
TC Pipelines LP	103	1	102		84	1	83		1.0%	1.2%		23%	23%
Newfield Exploration	99	13	86		154	7	147		13.1%	4.5%		-36%	-41%
Boardwalk  Pipeline Partners LP	97	-	97		119	-	119		0.0%	0.0%		-18%	-18%
Range Resources	92	43	49		282	112	170		46.7%	39.7%		-67%	-71%
Hess Midstream Partners LP	89	-	89		63	-	63		0.0%	0.0%		41%	41%
FTS Intl	80	1	79		(20)	-	(20)		1.3%	0.0%		-500%	-495%
Enlink Midstream Partners LP	66	1	65		14	1	13		1.5%	7.1%		371%	400%
Valero Energy Partners LP	66	-	66		58	-	58		0.0%	0.0%		14%	14%
Shell Midstream Partners LP	65	-	65		98	-	98		0.0%	0.0%		-34%	-34%
Matador Resources	65	-	65		46	-	46		0.0%	0.0%		41%	41%
EnLink Midstream LLC	64	7	57		12	3	9		10.9%	25.0%		433%	533%
Texas Pacific Land Trust	55	11	44		29	10	19		20.0%	34.5%		90%	132%
Denbury Resources	54	14	40		43	21	22		25.9%	48.8%		26%	82%
Holly Energy Partners LP	49	-	49		28	-	28		0.0%	0.0%		75%	75%
Targa Resources	48	9	39		(39)	71	(110)		18.8%	-182.1%		223%	135%
ProPetro Holding	47	10	37		(24)	-	(24)		21.3%	0.0%		-296%	-254%
Viper Energy Partners LP	43	-	43		21	-	21		0.0%	0.0%		105%	105%
Black Stone Minerals LP	42	-	42		62	-	62		0.0%	0.0%		-32%	-32%
BP Midstream Partners LP	41	-	41		20	8	12		0.0%	40.0%		105%	242%
Noble Midstream Partners LP	39	-	39		35	-	35		0.0%	0.0%		11%	11%
Crestwood Equity Partners LP	34	-	34		(19)	-	(19)		0.0%	0.0%		-279%	-279%
Core Laboratories NV	29	5	24		21	3	18		17.2%	14.3%		38%	33%
Cactus	28	2	26		5	-	5		7.1%	0.0%		460%	420%
Carrizo Oil & Gas	28	-	28		40	-	40		0.0%	0.0%		-30%	-30%
W&T Offshore	28	-	28		17	(7)	24		0.0%	-41.2%		65%	17%
C&J Energy Services	21	-	21		(35)	(3)	(32)		0.0%	8.6%		-160%	-166%
Select Energy Services	16	-	16		(12)	-	(12)		0.0%	0.0%		-233%	-233%
Forum Energy Technologies	15	(13)	28		(29)	(13)	(16)		-86.7%	44.8%		-152%	-275%
Oasis Petroleum	5	1	4		40	16	24		20.0%	40.0%		-88%	-83%
NOW Inc	3	1	2		(23)	-	(23)		33.3%	0.0%		-113%	-109%
Archrock	2	-	2		(14)	-	(14)		0.0%	0.0%		-114%	-114%
Helix Energy Solutions Group	(3)	-	(3)		(21)	(5)	(16)		0.0%	23.8%		-86%	-81%
Dril-Quip	(4)	3	(7)		-	-	-		-75.0%	NM		NM	NM
Summit Midstream Partners LP	(4)	-	(4)		-	1	(1)		0.0%	NM		NM	300%
Oil States Intl	(5)	(1)	(4)		(24)	(7)	(17)		20.0%	29.2%		-79%	-76%
Keane Group	(5)	3	(8)		(72)	-	(72)		-60.0%	0.0%		-93%	-89%
USA Compression Partners LP	(15)	-	(15)		2	-	2		0.0%	0.0%		-850%	-850%
Diamond Offshore Drilling	(25)	(44)	19		25	1	24		176.0%	4.0%		-200%	-21%
Tellurian	(25)	-	(25)		(141)		(141)		0.0%	0.0%		-82%	-82%
Patterson-UTI Energy	(34)	-	(34)		(101)	(37)	(64)		0.0%	36.6%		66%	47%
Frank's Intl NV	(36)	6	(42)		(36)	(9)	(27)		-16.7%	25.0%		0%	56%
Oceaneering Intl	(43)	6	(49)		(9)	(1)	(8)		-14.0%	11.1%		378%	513%
Alta Mesa Resources	(45)	(4)	(41)		29	-	29		8.9%	0.0%		-255%	-241%
National Oilwell Varco	(63)	3	(66)		(133)	(13)	(120)		-4.8%	9.8%		53%	45%
Superior Energy Services	(69)	(9)	(60)		(134)	(45)	(89)		13.0%	33.6%		-49%	-33%
Kosmos Energy Ltd	(74)	(24)	(50)		(7)	22	(29)		32.4%	-314.3%		957%	72%
Baker Hughes GE	(105)	(86)	(19)		74	8	66		81.9%	10.8%		-242%	-129%
Rowan Companies plc	(106)	6	(112)		40	30	10		-5.7%	75.0%		-365%	-1220%
Nabors Industries	(120)	24	(144)		(173)	(25)	(148)		-20.0%	14.5%		-31%	-3%
Ensco plc	(122)	18	(140)		-	24	(24)		-14.8%	NM		NM	483%
Noble Corp plc	(140)	3	(143)		(26)	257	(283)		-2.1%	-988.5%		438%	-49%
Transocean Ltd	(149)	63	(212)		55	(40)	95		-42.3%	-72.7%		-371%	-323%
WildHorse Resource Development	(154)	(38)	(116)		32	12	20		24.7%	37.5%		-581%	-680%
Weatherford Intl plc	(210)	32	(242)		(410)	33	(443)		-15.2%	-8.0%		-49%	-45%
Total all 96 Oil & Gas Cos	25,030	5,980	19,050		14,981	3,568	11,413		23.9%	23.8%		67%	67%
Telecom Giant
AT&T	6,141	1,382	4,759		5,378	1,804	3,574		22.5%	33.5%		14%	33%
Manufacturing Cos
LyondellBasell Industries	1,534	303	1,231		1,120	315	805		19.8%	28.1%		37%	53%
Celanese	432	65	367		240	56	184		15.0%	23.3%		80%	99%
Westlake Chemical	386	89	297		201	56	145		23.1%	27.9%		92%	105%
Huntsman Corp	289	53	236		118	19	99		18.3%	16.1%		145%	138%
Dr Pepper Snapple Group	213	54	159		248	71	177		25.4%	28.6%		-14%	-10%
Kimberly Clark	201	104	97		782	207	575		51.7%	26.5%		-74%	-83%
Valhi	106	36	70		42	19	23		34.0%	45.2%		152%	204%
Darling Ingredients	102	4	98		9	2	7		3.9%	22.2%		1033%	1300%
Kronos Worldwide	100	29	71		48	11	37		29.0%	22.9%		108%	92%
Venator Materials plc	100	20	80		(25)	(4)	(21)		20.0%	16.0%		-500%	-481%
Trinity Industries	56	15	41		73	21	52		26.8%	28.8%		-23%	-21%
McDermott	55	21	34		35	11	24		38.2%	31.4%		57%	42%
Eagle Materials	49	12	37		54	18	36		24.5%	33.3%		-9%	3%
Lennox Intl	44	6	38		53	10	43		13.6%	18.9%		-17%	-12%
Flowserve	25	9	16		24	5	19		36.0%	20.8%		4%	-16%
Kraton	24	2	22		5	1	4		8.3%	20.0%		380%	450%
Alamo Group	20	5	15		19	7	12		25.0%	36.8%		5%	25%
Encore Wire	15	4	11		21	7	14		26.7%	33.3%		-29%	-21%
Integer Holdings	12	4	8		(4)	-	(4)		33.3%	0.0%		-400%	-300%
NCI Building Systems	6	1	5		3	1	2		16.7%	33.3%		100%	150%
US Concrete	(2)	2	(4)		14	7	7		-100.0%	50.0%		-114%	-157%
Total all 21 Manufacturing Cos	3,767	838	2,929		3,080	840	2,240		22.2%	27.3%		22%	31%
Financial Cos
Comerica	335	54	281		268	66	202		16.1%	24.6%		25%	39%
Santander Consumer USA	299	57	242		221	78	143		19.1%	35.3%		35%	69%
Torchmark	213	39	174		192	55	137		18.3%	28.6%		11%	27%
Nationstar Mortgage Holdings	206	46	160		3	1	2		22.3%	33.3%		6767%	7900%
Weingarten Realty Investors	149	-	149		36	-	36		0.0%	0.0%		314%	314%
Crown Castle	118	4	114		123	4	119		3.4%	3.3%		-4%	-4%
Cullen/Frost Bankers	117	11	106		96	11	85		9.4%	11.5%		22%	25%
Prosperity Bancshares	92	18	74		103	34	69		19.6%	33.0%		-11%	7%
Texas Capital Bancshares	91	19	72		66	23	43		20.9%	34.8%		38%	67%
Intl Bancshares	67	14	53		48	16	32		20.9%	33.3%		40%	66%
Cadence Bancorp	50	11	39		39	13	26		22.0%	33.3%		28%	50%
CyrusOne	44	1	43		(30)	-	(30)		2.3%	0.0%		247%	243%
First Financial Bankshares	41	6	35		34	7	27		14.6%	20.6%		21%	30%
Camden Property Trust	41	-	41		36	-	36		0.0%	0.0%		14%	14%
Independent Bank Group	36	7	29		23	7	16		19.4%	30.4%		57%	81%
National Western Life Group	34	7	27		36	12	24		20.6%	33.3%		-6%	13%
Main Street Capital	34	(1)	35		37	6	31		-2.9%	16.2%		-8%	13%
TPG Specialty Lending	34	-	34		28	-	28		0.0%	0.0%		21%	21%
Hilltop Holdings	32	7	25		41	15	26		21.9%	36.6%		-22%	-4%
LegacyTexas Financial Group	32	6	26		27	9	18		18.8%	33.3%		19%	44%
Spirit Realty Capital	31	-	31		13	-	13		0.0%	0.0%		138%	138%
American Campus Communities	26	-	26		34	-	34		0.0%	0.0%		-24%	-24%
Argo Group Intl	25	-	25		43	6	37		0.0%	14.0%		-42%	-32%
American National Insurance	19	1	18		53	14	39		5.3%	26.4%		-64%	-54%
Southside Bancshares	18	2	16		18	3	15		11.1%	16.7%		0%	7%
HFF	18	1	17		32	12	20		5.6%	37.5%		-44%	-15%
Triumph Bancorp	16	4	12		17	6	11		25.0%	35.3%		-6%	9%
Summit Hotel Properties	10	-	10		34	1	33		0.0%	2.9%		-71%	-70%
Exterran	9	5	4		-	12	(12)		55.6%	NM		NM	-133%
Tier REIT	8	-	8		98	-	98		0.0%	0.0%		-92%	-92%
Howard Hughes Corp	2	-	2		15	9	6		0.0%	60.0%		-87%	-67%
Stewart Info Services Group	(3)	(1)	(2)		6	-	6		33.3%	0.0%		-150%	-133%
Invitation Homes	(18)	-	(18)		(42)	-	(42)		0.0%	0.0%		57%	57%
Total all 33 Financial Cos	2,226	318	1,908		1,748	420	1,328		14.3%	24.0%		27%	44%
Technology Cos
Texas Instruments	1,553	187	1,366		1,255	258	997		12.0%	20.6%		24%	37%
Sabre	127	36	91		110	32	78		28.3%	29.1%		15%	17%
Match Group	87	(13)	100		34	9	25		-14.9%	26.5%		156%	300%
Blucora Inc	48	2	46		34	3	31		4.2%	8.8%		41%	48%
Tyler Technologies	40	2	38		37	4	33		5.0%	10.8%		8%	15%
National Instruments	30	5	25		23	5	18		16.7%	21.7%		30%	39%
Diodes Inc	26	8	18		2	1	1		30.8%	50.0%		1200%	1700%
Cirrus Logic	22	10	12		45	10	35		45.5%	22.2%		-51%	-66%
Silicon Labs	22	(4)	26		13	(2)	15		-18.2%	-15.4%		69%	73%
RealPage	11	-	11		9	1	8		0.0%	11.1%		22%	38%
Q2 Holdings	(6)	-	(6)		(7)	-	(7)		0.0%	0.0%		-14%	-14%
SailPoint Technoligies	(6)	-	(6)		(2)	-	(2)		0.0%	0.0%		200%	200%
Pros Holdings	(19)	-	(19)		(20)	-	(20)		0.0%	0.0%		-5%	-5%
Total all 13 Technology Cos	1,935	233	1,702		1,533	321	1,212		12.0%	20.9%		26%	40%
Utility Cos
CenterPoint Energy	212	47	165		299	107	192		22.2%	35.8%		-29%	-14%
El Paso Electric	(10)	(3)	(7)		(6)	(2)	(4)		30.0%	33.3%		67%	75%
Vistra Energy	(395)	(89)	(306)		119	41	78		22.5%	34.5%		-432%	-492%
Total all 3 Utility Cos	(193)	(45)	(148)		412	146	266		23.3%	35.4%		-147%	-156%
All Other Cos
Southwest Air	602	139	463		532	193	339		23.1%	36.3%		13%	37%
Waste Management	511	116	395		434	137	297		22.7%	31.6%		18%	33%
Yum China Holdings	403	107	296		300	90	210		26.6%	30.0%		34%	41%
Sysco Corp	365	35	330		360	122	238		9.6%	33.9%		1%	39%
American Air Lines	273	87	186		535	195	340		31.9%	36.4%		-49%	-45%
Tenet Healthcare	260	70	190		4	(33)	37		26.9%	-825.0%		6400%	414%
Alliance Data Systems	219	55	164		227	81	146		25.1%	35.7%		-4%	12%
KBR Inc	173	34	139		51	13	38		19.7%	25.5%		239%	266%
Waste Connections	157	32	125		(2)	(17)	15		20.4%	850.0%		7950%	733%
Jacobs Engineering Group	122	70	52		60	16	44		57.4%	26.7%		103%	18%
Service Corp Intl	110	28	82		99	(76)	175		25.5%	-76.8%		11%	-53%
Cinemark Holdings	87	25	62		124	44	80		28.7%	35.5%		-30%	-23%
Sally Beauty Holdings	86	25	61		92	35	57		29.1%	38.0%		-7%	7%
Insperity	65	15	50		53	18	35		23.1%	34.0%		23%	43%
Brinker Intl	59	12	47		60	17	43		20.3%	28.3%		-2%	9%
Quanta Services	57	18	39		71	23	48		31.6%	32.4%		-20%	-19%
FirstCash	56	14	42		52	19	33		25.0%	36.5%		8%	27%
Hi-Crush Partners LP	54	-	54		(7)	-	(7)		0.0%	0.0%		-871%	-871%
Group 1 Automotive	46	10	36		51	17	34		21.7%	33.3%		-10%	6%
Kirby	43	10	33		41	13	28		23.3%	31.7%		5%	18%
LGI Homes	31	4	27		17	5	12		12.9%	29.4%		82%	125%
Rush Enterprises	28	7	21		22	8	14		25.0%	36.4%		27%	50%
MRC Global	25	7	18		7	1	6		28.0%	14.3%		257%	200%
Builders FirstSource	25	2	23		4	-	4		8.0%	0.0%		525%	475%
Comfort Systems USA	19	2	17		11	4	7		10.5%	36.4%		73%	143%
Luminex	16	2	14		14	5	9		12.5%	35.7%		14%	56%
US Physical Therapy	13	3	10		8	2	6		23.1%	25.0%		63%	67%
Orthofix Intl NV	11	6	5		2	4	(2)		54.5%	200.0%		450%	-350%
Atrion	11	3	8		12	2	10		27.3%	16.7%		-8%	-20%
HMS Holdings	9	3	6		2	-	2		33.3%	0.0%		350%	200%
Genesis Energy LP	8	-	8		27	-	27		0.0%	0.0%		-70%	-70%
Wingstop	8	2	6		7	1	6		25.0%	14.3%		14%	0%
Primoris Services	4	-	4		13	5	8		0.0%	38.5%		-69%	-50%
Cardtronics plc	(3)	-	(3)		(4)	(3)	(1)		0.0%	75.0%		-25%	200%
Fluor	(9)	3	(12)		93	16	77		-33.3%	17.2%		-110%	-116%
La Quinta Holdings	(17)	(2)	(15)		4	2	2		11.8%	50.0%		-525%	-850%
Lexicon Pharmaceuticals	(42)	-	(42)		(44)	(9)	(35)		0.0%	20.5%		-5%	20%
Sunoco LP	(47)	31	(78)		(2)	(14)	12		-66.0%	700.0%		2250%	-750%
Six Flags Entertainment	(82)	(20)	(62)		(95)	(38)	(57)		24.4%	40.0%		14%	-9%
Clear Channel Outdoor Holdings	(86)	45	(131)		(53)	(22)	(31)		-52.3%	41.5%		62%	323%
Total all 40 Other Cos	3,670	1,000	2,670		3,182	876	2,306		27.2%	27.5%		15%	16%
Total all 207 Texas Cos	42,576	9,706	32,870		30,314	7,975	22,339		22.8%	26.3%		40%	47%