Sunday, July 29, 2018

All 241 Largest US Companies With Stock Market Caps Above $10 Bil Which Released Their June 2018 Quarter End Earnings By July 27, 2018 Generated June 2018 Quarter Total US GAAP Pretax Income (PTI) From Continuing of $257.370 Bil, Up 13.9% From Their Total PTI of $226.001 Bil in Their June 2017 Quarter ........................................................................................

Of These 241 US Cos, 15 Are Oil & Gas Companies Which Generated June 2018 Quarter Total US GAAP Pretax Income (PTI) From Continuing Operations of $20.143 Bil, Up a Spectacularly Off-the-Charts 339% From Their Total PTI of $4.588 Bil in Their June 2017 Quarter ........................................................................................

Thus, of These 241 US Cos, 226 Are Non-Oil & Gas Companies Which Generated June 2018 Quarter Total US GAAP Pretax Income (PTI) of $237.227 Bil, Up a Substantially Lower 7.1% From Their Total PTI of $221.413 Bil in Their June 2017 Quarter 

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Therefore So Far, 6.8% or Nearly Half of the 13.9% Total PTI Growth of All 241 US Cos is Due Just to the 15 US Oil & Gas Cos

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It Should Be Interesting To See How the Many Later June 2018 Quarter Earnings Reporters Impact These Total PTI Growth Numbers

Friday, July 27, 2018

All 15 Largest US Oil & Gas Companies Releasing Their June 2018 Earnings By July 27, 2018 Generated June 2018 Quarter Total Pretax Income (PTI) of $20.143 Bil, Up a Spectacularly Off-the-Charts 339% From Their Total PTI of $4.588 Bil in the June 2017 Quarter ........................................................................................ This 339% Total Pretax Income Growth in the June 2018 Quarter is an Unbelievably Massive Earnings Growth Acceleration From Their Already Very Strong Total PTI Growth of 39% in the March 2018 Quarter Over the March 2017 Quarter ........................................................................................ As Goes US Oil & Gas Companies, So Goes Russia's Economy in Lockstep. This Is Why Russia Will Be Even More Aggressive With Their Cyber Attacks in the November 2018 US Elections ........................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations and the US GAAP After-Tax Net Income (Loss) From Continuing Operations for the June 2018, the June 2017, the March 2018 and the March 2017 Quarters for the 15 Largest US Oil & Gas Companies with June Quarter Ends, which have reported their June 2018 Quarter Earnings By July 27, 2018 and which have stock market caps above $10 Bil in April 2018.
US US US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Net Net Pretax Pretax Net Net
US Oil & Gas Company Income Income % Income Income % Income Income % Income Income %
Market Caps Above $10 Bil (Loss) (Loss) Change (Loss) (Loss) Change (Loss) (Loss) Change (Loss) (Loss) Change
Releasing June 2018  June Qtr June Qtr Better June Qtr June Qtr Better March Qtr March Qtr Better March Qtr March Qtr Better
 Qtr Earnings Thru 7-27-18 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse)
mils $ mils $ mils $ mils $ mils $ mils $ mils $ mils $
Exxon Mobil       6,512       4,156 57%       3,986       3,264 22%       7,240       5,918 22%       4,783       4,090 17%
Chevron       4,905       1,953 151%       3,422       1,466 133%       5,073       3,129 62%       3,659       2,699 36%
ConocoPhillips       2,619     (4,361) 160%       1,654     (3,426) 148%       1,776        (232) 866%          900          599 50%
Phillips 66       1,835          797 130%       1,404          581 142%          717          797 -10%          585          563 4%
Marathon Petroleum Corp       1,516          824 84%       1,235          574 115%          257          142 81%          235          101 133%
Valero Energy       1,124          768 46%          875          572 53%          731          433 69%          582          321 81%
Halliburton          633            (1) NM          508            28 1714%          189          (57) 432%            47          (32) 247%
Schlumberger Ltd          547            17 3118%          441          (81) 644%          643          334 93%          530          284 87%
MPLX LP          457          193 137%          456          191 139%          427          187 128%          423          187 126%
Cabot Oil & Gas            55            37 49%            42            22 91%          157          169 -7%          117          106 10%
EQT Corp            35          152 -77%          136          123 11%     (1,784)          351 -608%     (1,445)          250 -678%
National Oilwell Varco            30          (91) 133%            25          (74) 134%          (63)        (133) 53%          (66)        (120) 45%
Hess Corp            27        (425) 106%          (87)        (417) 79%              8        (309) 103%          (65)        (296) 78%
Baker Hughes GE            24          (30) 180%          (38)          (20) -90%        (105)            74 -242%          (19)            66 -129%
Kinder Morgan        (176)          599 -129%        (130)          383 -134%          706          691 2%          542          445 22%
Total all 15 Oil & Gas Cos     20,143       4,588 339%     13,929       3,186 337%     15,972     11,494 39%     10,808       9,263 17%






Four Largest California Techs (Alphabet, Facebook, Visa and Intel) All Had Substantial US GAAP Pretax Income (PTI) Growth Deceleration in the June 2018 Quarter Where Their Total PTI Was $18.424 Bil, Up 13% Over Their June 2017 Quarter Total PTI of $16.351 Bil ........................................................................................

In Comparison, These Four Largest California Techs (Alphabet, Facebook, Visa and Intel) Reported Total PTI of $24.381 Bil in Their March 2018 Quarter, Up 46% From Their March 2017 Quarter Total PTI of $16.744 Bil

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In Similar Fashion, These Four Largest California Techs (Alphabet, Facebook, Visa and Intel) Reported Total After-Tax Net Income (ATNI) in Their June 2018 Quarter Which Increased By 27%, Whereas Their Total ATNI in Their March 2018 Quarter Increased By 80%, Both From Their 2017 Quarters

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Anyway You Look At It, This is California Largest Tech Co Massive US GAAP Earnings Growth Deceleration At Least Somewhat Similar To What Happened to California Techs in 2000, Where Many Tech Pundits Running Intrinsic Value Models Incorrectly Assumed That the Very High Revenue and US GAAP Earnings Percentage Growth Numbers Would Continue For a Very Long Time.

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After Reviewing So Many Oil & Gas Company June 2018 Quarter Earnings Which Nearly All Show Off-the-Charts Earnings Growth, It Is Pretty Clear That The Trump Administration Has Been Extremely Successful in Its Key Economic Goal of Transferring a Substantial Amount of Wealth From California and From Many Other US States to Texas Oil & Gas Companies and Their Economic Beneficiaries.  That is Really Not Much of a Legacy In Which To Be Proud.

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On the Other Hand, the Two Largest Washington State Techs (Microsoft and Amazon) Both Had Substantial US GAAP Pretax Income (PTI) Growth Acceleration in the June 2018 Quarter Where Their Total PTI Was $13.288 Bil, Up 54% Over Their June 2017 Quarter Total PTI of $8.622 Bil, as Compared to Their Total PTI in the March 2018 Quarter Which Increased By a Much Lower 31% Over That in Their March 2017 Quarter    ........................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations and the US GAAP After-Tax Net Income (Loss) From Continuing Operations for the June 2018, the June 2017, the March 2018 and the March 2017 Quarters for the 6 Largest US Technology Cos With June Quarter Ends and which have reported their June 2018 Quarter Earnings By July 26, 2018.  All 6 had Stock Market Caps of more than $200 Bil in April 2018.  Apple is not included below since it hasn't yet reported its June 2018 quarterly earnings.

US US US US US US US US

GAAP GAAP GAAP GAAP GAAP GAAP GAAP GAAP
Lasrgest US Technology Cos Pretax Pretax Net Net Pretax Pretax Net Net
Other Than Apple Which Income Income % Income Income % Income Income % Income Income %
Hasn't Reported June 2018 (Loss) (Loss) Change (Loss) (Loss) Change (Loss) (Loss) Change (Loss) (Loss) Change
Quarter Earnings Yet June Qtr June Qtr Better June Qtr June Qtr Better March Qtr March Qtr Better March Qtr March Qtr Better
Market Caps Above $200 Bil 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse)
mils $ mils $ mils $ mils $ mils $ mils $ mils $ mils $
California Largest Tech Cos
Facebook       5,868       4,488 31%       5,106       3,894 31%       5,610       3,408 65%       4,988       3,064 63%
Intel       5,529       4,572 21%       5,006       2,808 78%       5,011       3,815 31%       4,454       2,964 50%
Alphabet       4,215       4,377 -4%       3,195       3,524 -9%     10,543       6,819 55%       9,401       5,426 73%
Visa       2,812       2,914 -4%       2,329       2,059 13%       3,217       2,702 19%       2,605          430 506%
Total 4 California Cos     18,424     16,351 13%     15,636     12,285 27%     24,381     16,744 46%     21,448     11,884 80%
Washington Largest Tech Cos
Microsoft     10,680       7,958 34%       8,873       8,069 10%       8,641       7,094 22%       7,424       5,486 35%
Amazon.com       2,608          664 293%       2,534          197 1186%       1,916          953 101%       1,629          724 125%
Total 2 Washington State Cos     13,288       8,622 54%     11,407       8,266 38%     10,557       8,047 31%       9,053       6,210 46%
Total 6 Largest US Tech Cos     31,712     24,973 27%     27,043     20,551 32%     34,938     24,791 41%     30,501     18,094 69%