Wednesday, June 6, 2018

Washington State's Economy On Fire, With the 30 Washington Companies With Market Caps of at Least $1 Bil Posting March 2018 Quarter Total Pretax Income of $16.386 Bil, Up a Superlative 25% From Their March 2017 Quarter and Total After-Tax Net Income Up an Even More Superlative 38% ........................................................................................ The Quality of This High Earnings Growth Was Excellent With Amazon Increasing Its March 2018 Quarter Fulfillment Cost Spending By 66% and Its Technology and Content Cost Spending By 40% With Much of These Spending Cost Increases Being of an Investment Nature Even Though US GAAP Conservatively Requires an Immediate Earnings Charge, With Starbucks' March 2018 Quarter Burdened By $135 Mil of Restructuring Charges and T-Mobile's March 2017 Quarter Net Income Bolstered By a One-Time $270 Mil Income Tax Benefit ........................................................................................

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 Washington 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
Washington State 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 $
Microsoft        8,641        1,217        7,424        7,094        1,608        5,486 14.1% 22.7% 22% 35%
Boeing        2,839           362        2,477        2,145           566        1,579 12.8% 26.4% 32% 57%
Amazon.com        1,916           287        1,629           953           229           724 15.0% 24.0% 101% 125%
T-Mobile US           881           210           671           607            (91)           698 23.8% -15.0% 45% -4%
Starbucks           816           156           660           981           328           653 19.1% 33.4% -17% 1%
Paccar           669           157           512           448           138           310 23.5% 30.8% 49% 65%
Fortive Corp           313             52           261           272             73           199 16.6% 26.8% 15% 31%
Weyerhaeuser           299             30           269           181             24           157 10.0% 13.3% 65% 71%
Expeditors Intl Washington           198             62           136           149             55             94 31.3% 36.9% 33% 45%
F5 Networks           146             36           110           140             47             93 24.7% 33.6% 4% 18%
Avista             66             11             55             95             33             62 16.7% 34.7% -31% -11%
Washington Federal             65             16             49             63             21             42 24.6% 33.3% 3% 17%
Columbia Banking System             47               7             40             40             11             29 14.9% 27.5% 18% 38%
Banner Corp             37               8             29             36             12             24 21.6% 33.3% 3% 21%
Mercer Intl             35               9             26             17               7             10 25.7% 41.2% 106% 160%
Esterline Technologies             26               2             24             48             13             35 7.7% 27.1% -46% -31%
Potlatch Deltic             20               6             14             19               2             17 30.0% 10.5% 5% -18%
Heritage Financial             10               1               9             12               3               9 10.0% 25.0% -17% 0%
TrueBlue             10               1               9               7               2               5 10.0% 28.6% 43% 80%
Alaska Air Group               6               2               4           142             49             93 33.3% 34.5% -96% -96%
nLight               4               1               3              -                 1              (1) 25.0% NM NM -400%
Apptio              (8)              -                (8)              (7)              -                (7) 0.0% 0.0% 14% 14%
Zillow Group            (16)               3            (19)              (5)              -                (5) -18.8% 0.0% 220% 280%
Cray Inc            (25)              -              (25)            (30)            (11)            (19) 0.0% 36.7% -17% 32%
Redfin            (36)              -              (36)            (28)              -              (28) 0.0% 0.0% 29% 29%
Tableau Software            (49)              (2)            (47)            (52)               2            (54) 4.1% -3.8% 6% 13%
Alder Biopharmaceuticals            (87)              -              (87)          (100)              -            (100) 0.0% 0.0% -13% -13%
Seattle Genetics          (112)              -            (112)            (60)              -              (60) 0.0% 0.0% -87% -87%
Itron          (156)            (11)          (145)             25               9             16 7.1% 36.0% -724% -1006%
Expedia          (169)            (20)          (149)          (131)            (47)            (84) 11.8% 35.9% -29% -77%
Total all 30 Washington Cos      16,386        2,603      13,783      13,061        3,084        9,977 15.9% 23.6% 25% 38%

I think that Howard Schultz is the only potential Democratic candidate for US President in 2020 who could soundly beat Donald Trump.  With any other Democratic candidate, the Presidential race will be very close.

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