The 33 Minnesota Companies With Market Caps of at Least $1 Bil Posted March or April 2018 Quarter Total Pretax Income (PTI) of $13.5 Bil, Up a Modest 3% From Their March or April 2017 Quarter and 9% Below the 12% Earnings Growth of All US Companies With the Same Market Caps ....................................................................................... First, the Good News ....................................................................................... The 6 Minnesota Financial Cos Posted March 2018 Quarter Total PTI of $7.4 Bil, Up a Robust 14% From Their March 2017 Quarter, Led By Health Insurance Giant UnitedHealth Group, Which Posted March 2018 Quarter PTI of $3.7 Bil, Up an Even More Robust 19% From Its March 2017 Quarter ....................................................................................... Next For the Really Bad News ....................................................................................... The Key, Large Minnesota Manufacturing Sector Performed Poorly in the First Full Quarter That the Trump Tax Cuts Act Were in Place, With the 17 Minnesota Manufacturing Cos Generating Total PTI of $4.1 Bil in Their March or April 2018 Quarter, Down By a Very Disappointing 8% From Their Prior Year's Quarter ....................................................................................... And Minnesota's 3 Retail Cos Performed Just as Poorly, Posting Total PTI of $1.4 Bil, Also Down By a Very Disappointing 8% ....................................................................................... Also, the 7 Minnesota Cos in all Other Sectors Posted March 2018 Quarter Total PTI Which Was Slightly Down 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 or April 2018 and 2017 Quarters for all US  Companies including both Partnerships and REITs which are Headquartered in the US State of Minnesota with March 2018 or April 2018 Quarter Ends, with stock market caps above $1 Bil recently and which have released their March 2018 or April 2018 Quarter Earnings by June 8, 2018.  

I will update this quarterly earnings chart later for Companies with April 2018 and May 2018 Quarter End Earnings which haven't reported their April or May 2018 Quarter Earnings yet.

									US GAAP	US GAAP		US GAAP	US GAAP
	US GAAP	US GAAP	US GAAP		US GAAP	US GAAP	US GAAP		Effective	Effective		Pretax	Net
	Pretax	Income	Net		Pretax	Income	Net		Income	Income		Income	Income
	Income	Tax	Income		Income	Tax	Income		Tax	Tax		% Change	% Change
Minnesota Companies	(Loss)	Expense	(Loss)		(Loss)	Expense	(Loss)		Rate	Rate		March or	March or
Market Caps At Least $1 Bil	March or	March or	March or		March or	March or	March or		March or	March or		April Qtr	April Qtr
Releasing March or April 2018	April Qtr	April Qtr	April Qtr		April Qtr	April Qtr	April Qtr		April Qtr	April Qtr		2018	2018
Qtr Earnings By June 8, 2018	2018	2018	2018		2017	2017	2017		2018	2017		vs 2017	vs 2017
	mils $	mils $	mils $		mils $	mils $	mils $
Financial Cos
UnitedHealth Group	3,724	800	2,924		3,130	939	2,191		21.5%	30.0%		19%	33%
US Bancorp	2,073	391	1,682		2,035	549	1,486		18.9%	27.0%		2%	13%
Travelers Companies	778	109	669		760	143	617		14.0%	18.8%		2%	8%
Ameriprise Financial	696	102	594		475	72	403		14.7%	15.2%		47%	47%
TCF Financial	98	22	76		70	21	49		22.4%	30.0%		40%	55%
Piper Jaffray	8	(3)	11		23	-	23		-37.5%	0.0%		-65%	-52%
Total all 6 Financial Cos	7,377	1,421	5,956		6,493	1,724	4,769		19.3%	26.6%		14%	25%
Manufacturing Cos
Medtronic plc	1,725	260	1,465		1,435	271	1,164		15.1%	18.9%		20%	26%
3M	965	359	606		1,737	411	1,326		37.2%	23.7%		-44%	-54%
Ecolab	317	69	248		311	54	257		21.8%	17.4%		2%	-4%
Hormel Foods	297	59	238		316	105	211		19.9%	33.2%		-6%	13%
Toro Co	169	38	131		158	38	120		22.5%	24.1%		7%	9%
Pentair plc	132	28	104		104	23	81		21.2%	22.1%		27%	28%
Graco	107	22	85		82	21	61		20.6%	25.6%		30%	39%
Donaldson Co	99	29	70		84	24	60		29.3%	28.6%		18%	17%
Deluxe	83	20	63		81	24	57		24.1%	29.6%		2%	11%
Polaris Industries	74	18	56		(0)	3	(3)		24.3%	NM		NM	1797%
nVent Electric plc	64	12	52		66	11	55		18.8%	16.7%		-3%	-5%
Sleep Number	26	6	20		36	11	25		23.1%	30.6%		-28%	-20%
Bio-Techne	25	5	20		31	9	22		20.0%	29.0%		-19%	-9%
Proto Labs	22	4	18		18	6	12		18.2%	33.3%		22%	50%
Tennant	4	1	3		(5)	(1)	(4)		25.0%	20.0%		180%	175%
Mosaic	(10)	(50)	40		9	10	(1)		500.0%	111.1%		-211%	4100%
Stratasys Ltd	(12)	1	(13)		(13)	1	(14)		-8.3%	-7.7%		8%	7%
Total all 17 Manufacturing Cos	4,087	881	3,206		4,450	1,021	3,429		21.6%	22.9%		-8%	-6%
Retailing Cos
Target	927	210	717		1,030	355	675		22.7%	34.5%		-10%	6%
Best Buy	257	49	208		292	104	188		19.1%	35.6%		-12%	11%
Fastenal	232	58	174		211	77	134		25.0%	36.5%		10%	30%
Total all 3 Retail Cos	1,416	317	1,099		1,533	536	997		22.4%	35.0%		-8%	10%
Cos in all Other Sectors
XCEL Energy	350	59	291		356	117	239		16.9%	32.9%		-2%	22%
CH Robinson Worldwide	181	39	142		179	57	122		21.5%	31.8%		1%	16%
ALLETE	47	(4)	51		62	13	49		-8.5%	21.0%		-24%	4%
Otter Tail	30	4	26		26	6	20		13.3%	23.1%		15%	30%
Capella Education	18	4	14		18	7	11		22.2%	38.9%		0%	27%
Ceridian HCM Holding	4	7	(3)		(9)	3	(12)		175.0%	-33.3%		144%	75%
SPS Commerce	4	1	3		4	1	3		25.0%	25.0%		0%	0%
Total all 7 in Other Sectors	634	110	524		636	204	432		17.4%	32.1%		0%	21%
Total all 33 Minnesota Cos	13,514	2,729	10,785		13,112	3,485	9,627		20.2%	26.6%		3%	12%