Sunday, July 15, 2018

The 42 Tennessee Cos With March, April or May Quarter Ends (The First Full Quarter of the Trump Tax Cuts Act), With Market Caps of At Least $500 Mil and Which Have Released These 2018 Quarter Earnings By July 5, 2018 Generated March, April or May 2018 Quarter Total Pretax Income (PTI) of $5.634 Bil, Up a Modest 3.3% From Their Previous Year's Quarter Total PTI of $5.455 Bil .......................................................................................

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, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the US State of Tennessee with March, April or May 2018 Quarter Ends, with stock market caps of at least $500 Mil recently and which have released their March, April or May 2018 Quarter Earnings by July 5, 2018.
 US GAAP   US GAAP 
Pretax Net
 US GAAP   US GAAP  Income Income
 US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   Effective   Effective  Better Better
Pretax  Income  Net Pretax  Income  Net  Income   Income  (Worse) (Worse)
Income Tax Income Income Tax Income Tax Tax % Change % Change
Tennessee Company (Loss) Expense (Loss) (Loss) Expense (Loss) Rate Rate March, March,
Market Caps of $500 Mil+ March, March, March, March, March, March, March, March, April or April or
Releasing March, April or April or April or April or April or April or April or April or April or May Qtr May Qtr
 May 2018 Quarter May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr 2018 2018
Earnings By July 5, 2018 2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $
HCA Healthcare        1,539           257        1,282        1,066           289           777 16.7% 27.1% 44% 65%
FedEx        1,358           231        1,127        1,460           440        1,020 17.0% 30.1% -7% 10%
AutoZone           504           137           367           494           162           332 27.2% 32.8% 2% 11%
Dollar General           465           100           365           445           166           279 21.5% 37.3% 4% 31%
International Paper           451             89           362           265             73           192 19.7% 27.5% 70% 89%
Eastman Chemical           350             60           290           341             62           279 17.1% 18.2% 3% 4%
Unum Group           341             68           273           330           100           230 19.9% 30.3% 3% 19%
First Horizon National           125             30             95             85             27             58 24.0% 31.8% 47% 64%
Louisiana-Pacific           125             30             95             71             16             55 24.0% 22.5% 76% 73%
Pinnacle Financial Partners           103             20             83             54             14             40 19.4% 25.9% 91% 108%
Envision Healthcare             94               6             88           105             18             87 6.4% 17.1% -10% 1%
Tractor Supply             90             19             71             93             33             60 21.1% 35.5% -3% 18%
Cracker Barrel             60             11             49             68             21             47 18.3% 30.9% -12% 4%
ServiceMaster Global             54             14             40             62             24             38 25.9% 38.7% -13% 5%
Mid America Apartment Comm             51              -               51             43              -               43 0.0% 0.0% 19% 19%
Acadia Healthcare             48              (3)             51             49             14             35 -6.3% 28.6% -2% 46%
Education Realty Trust             41              -               41             15              (1)             16 0.0% -6.7% 173% 156%
CoreCivic             40               2             38             53               3             50 5.0% 5.7% -25% -24%
National Health Investors             38              -               38             44              -               44 0.0% 0.0% -14% -14%
Mueller Industries             31               7             24             42             12             30 22.6% 28.6% -26% -20%
Ryman Hospitality Properties             29               2             27             33              -               33 6.9% 0.0% -12% -18%
Tivity Health             28               7             21             25               9             16 25.0% 36.0% 12% 31%
Astec Industries             26               6             20             23               8             15 23.1% 34.8% 13% 33%
FB Financial             25               5             20             15               5             10 20.0% 33.3% 67% 100%
Forward Air Corp             24               6             18             24               9             15 25.0% 37.5% 0% 20%
Malibu Boats             23               6             17             13               4               9 26.1% 30.8% 77% 89%
Delek Logistics Partners LP             20              -               20             15              -               15 0.0% 0.0% 33% 33%
MCBC Holdings             14               3             11               4               2               2 21.4% 50.0% 250% 450%
Franklin Financial Network             13               3             10             12               4               8 23.1% 33.3% 8% 25%
Healthcare Realty Trust               9              -                 9             32              -               32 0.0% 0.0% -72% -72%
Surgery Partners               7               2               5             16               2             14 28.6% 12.5% -56% -64%
Covenant Transportation Grp               6               2               4              (1)              (1)              -   33.3% 100.0% 700% NM
HealthStream               4              -                 4               3               1               2 0.0% 33.3% 33% 100%
US Xpress Enterprises               2               1               1              (8)              (4)              (4) 50.0% 50.0% 125% 125%
Community Healthcare Trust               2              -                 2               1              -                 1 0.0% 0.0% 100% 100%
Life Point Health              (3)               2              (5)             96             32             64 -66.7% 33.3% -103% -108%
National Healthcare              (3)              -                (3)             21               8             13 0.0% 38.1% -114% -123%
Genesco              (3)              (1)              (2)               2               1               1 33.3% 50.0% -250% -300%
NN Inc              (7)              (1)              (6)               2              -                 2 14.3% 0.0% -450% -400%
Wright Medical Group NV            (20)              -              (20)            (36)               1            (37) 0.0% -2.8% 44% 44%
Delek US Holdings            (29)            (17)            (12)             20               5             15 58.6% 25.0% -245% -180%
Brookdale Senior Living          (441)             16          (457)            (42)             84          (126) -3.6% -200.0% -950% -263%
Total all 42 Tennessee Cos        5,634        1,120        4,514        5,455        1,643        3,812 19.9% 30.1% 3.3% 18%
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