Wednesday, June 6, 2018

Virginia Economy On Fire, With the 57 Virginia Companies With Market Caps of at Least $1 Bil Posting March 2018 Quarter Total Pretax Income of $15.351 Bil, Up a Very Robust 20% From Their March 2017 Quarter and Exclusive of US Govt Sponsored Freddie Mac, Up an Even Higher 24% ........................................................................................ And This 24% Earnings Growth Was Very Broad-Based ....................................................................................... The 11 Virginia Financial Companies Generated March 2018 Quarter Total Pretax Income Which Increased By 11% Over the March 2017 Quarter ........................................................................................ The 9 Virginia Technology Companies, Driven By the Software and Related Services Cos, Generated March 2018 Quarter Total Pretax Income Which Increased By an Off-the-Charts 354% Over the March 2017 Quarter ....................................................................................... The 7 Virginia Manufacturing Companies Generated March 2018 Quarter Total Pretax Income Which Increased By 15% Over the March 2017 Quarter ....................................................................................... The 3 Virginia Large US Defense Contractor Companies Generated March 2018 Quarter Total Pretax Income Which Increased By 4% Over the March 2017 Quarter ....................................................................................... And the 26 Virginia Cos in Many Other Sectors Generated March 2018 Quarter Total Pretax Income of $3.169 Bil, Up a Superlative 25% Over the 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 Virginia 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
Virginia 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 $
Freddie Mac        3,674           748        2,926        3,321        1,110        2,211 20.4% 33.4% 11% 32%
All Cos Except Freddie Mac
Financial Cos
Capital One Financial        1,662           319        1,343        1,109           314           795 19.2% 28.3% 50% 69%
Willis Towers Watson           264             43           221           398             46           352 16.3% 11.6% -34% -37%
Genworth Financial           228             63           165           332           116           216 27.6% 34.9% -31% -24%
Park & Hotels & Resorts           149              -             149             69       (2,281)        2,350 0.0% -3305.8% 116% -94%
AvalonBay Community           142              -             142           236              -             236 0.0% 0.0% -40% -40%
Markel             43           108            (65)             94             23             71 251.2% 24.5% -54% -192%
Apple Hospitality REIT             42              -               42                 34              -               34 0.0% 0.0% 24% 24%
Towne Bank             32               6             26             32               9             23 18.8% 28.1% 0% 13%
Union Bankshares             19               2             17             26               7             19 10.5% 26.9% -27% -11%
Kinsale Capital Group               9               2               7               9               3               6 22.2% 33.3% 0% 17%
Chesapeake Lodging Trust               4              (2)               6               4              (4)               8 -50.0% -100.0% 0% -25%
Total all 11 Financial Cos        2,594           541        2,053        2,343       (1,767)        4,110 20.9% -75.4% 11% -50%
Technology Cos
DXC Technology           661             96           565          (187)            (49)          (138) 14.5% 26.2% 453% 509%
Verisign           152             18           134           148             31           117 11.8% 20.9% 3% 15%
Leidos Holding           125             23           102           108             34             74 18.4% 31.5% 16% 38%
Orbital ATK           122             21           101             94             28             66 17.2% 29.8% 30% 53%
CACI Intl             94             30             64             55             15             40 31.9% 27.3% 71% 60%
ePLUS             18               9               9             19               8             11 50.0% 42.1% -5% -18%
Alarm.com Holdings             12               1             11                   5               1               4 8.3% 20.0% 140% 175%
MicroStrategy Inc               1              (1)               2             20               4             16 -100.0% 20.0% -95% -88%
Appian              (9)              -                (9)              (3)              -                (3) 0.0% 0.0% 200% 200%
Total all 9 Technology Cos        1,176           197           979           259             72           187 16.8% 27.8% 354% 424%
Manufacturing Cos
Altria Group        2,466           571        1,895        2,091           689        1,402 23.2% 33.0% 18% 35%
BWX Technologies             85             19             66             80             25             55 22.4% 31.3% 6% 20%
NewMarket             81             21             60             88             24             64 25.9% 27.3% -8% -6%
Trex Co             47             10             37             42             14             28 21.3% 33.3% 12% 32%
Continental Building Products             18               4             14                 18               6             12 22.2% 33.3% 0% 17%
Iridium Communications             15               4             11             56             18             38 26.7% 32.1% -73% -71%
Gannett Co              -                -                -                (7)              (5)              (2) NM 71.4% -100% -100%
Total all 7 Manufacturing Cos        2,712           629        2,083        2,368           771        1,597 23.2% 32.6% 15% 30%
US Defense Contractors
General Dynamics           960           161           799        1,010           247           763 16.8% 24.5% -5% 5%
Northop Grumman           871           132           739           788           138           650 15.2% 17.5% 11% 14%
Huntington Ingalls Industries           195             39           156           147             28           119 20.0% 19.0% 33% 31%
Total\ 3 US Defense Contractors        2,026           332        1,694        1,945           413        1,532 16.4% 21.2% 4% 11%
All Cos in Other Sectors
AES Corp        1,009           231           778           164             67             97 22.9% 40.9% 515% 702%
Norfolk Southern           707           155           552           655           222           433 21.9% 33.9% 8% 27%
Dominion Energy           661           135           526           949           275           674 20.4% 29.0% -30% -22%
Hilton Worldwide           221             58           163             66             18             48 26.2% 27.3% 235% 240%
NVR Inc           191             25           166           132             29           103 13.1% 22.0% 45% 61%
Booz Allen Hamilton           112             27             85           108             42             66 24.1% 38.9% 4% 29%
Tegna             75             20             55             64             19             45 26.7% 29.7% 17% 22%
Maximus             72             17             55             80             27             53 23.6% 33.8% -10% 4%
Universal Corp             59             25             34             56             20             36 42.4% 35.7% 5% -6%
Graham Holdings             57             14             43             24               3             21 24.6% 12.5% 138% 105%
Performance Food Group             45             11             34             33             12             21 24.4% 36.4% 36% 62%
Brink's Co             37             12             25             55             14             41 32.4% 25.5% -33% -39%
Dominion Energy Midstream LP             34              -               34             54              -               54 0.0% 0.0% -37% -37%
Playa Hotels & Resorts NV             31               9             22             41             13             28 29.0% 31.7% -24% -21%
PRA Group             29               6             23             81             31             50 20.7% 38.3% -64% -54%
Mantech Intl             26               6             20             24               9             15 23.1% 37.5% 8% 33%
ICF Intl             16               4             12             15               5             10 25.0% 33.3% 7% 20%
Owens & Minor             14               6               8             29             10             19 42.9% 34.5% -52% -58%
Strayer Education             12               2             10             19               8             11 16.7% 42.1% -37% -9%
Engility Holdings               8               2               6             13               5               8 25.0% 38.5% -38% -25%
Shenandoah Telecomm               6               1               5               3               1               2 16.7% 33.3% 100% 150%
Evolent Health            (14)              -              (14)            (23)              -              (23) 0.0% 0.0% -39% -39%
GTT Communications            (29)               2            (31)            (25)            (12)            (13) -6.9% 48.0% 16% 138%
Intrexon            (47)              (4)            (43)            (33)              (1)            (32) 8.5% 3.0% 42% 34%
Intelsat SA            (66)               1            (67)            (34)               1            (35) -1.5% -2.9% 94% 91%
Beacon Roofing Supply            (97)            (30)            (67)            (15)              (6)              (9) 30.9% 40.0% 547% 644%
Total 26 Cos in Other Sectors        3,169           735        2,434        2,535           812        1,723 23.2% 32.0% 25% 41%
Total all 56 Cos..No Freddie Mac      11,677        2,434        9,243        9,450           301        9,149 20.8% 3.2% 24% 1%
Total all 57 Virginia Cos      15,351        3,182      12,169      12,771        1,411      11,360 20.7% 11.0% 20% 7%





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