Wednesday, July 11, 2018

The 61 Washington State Cos With March, April or May Quarter Ends (The First Full Quarter of the Trump Tax Cuts Act), With Market Caps of At Least $100 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 $17.5 Bil, Up a Superlative 24.3% From Their Previous Year's Quarter Total PTI of $14.0 Bil and 2018 Quarter After-Tax Net Income Up By an Even More Superlative 36.1% From Their Previous Year 2017 Quarter .......................................................................................

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 Costco Generating Fantastic Comparable Sales of +10.2% in Its Most Recent Quarter As Well As Having its Previous Year Quarter Net Income Bolstered By a One-Time $82 Mil Income Tax Benefit 
  • With Starbucks' March 2018 Quarter Burdened By $135 Mil of Restructuring Charges
  • And With 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, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the US State of Washington with March, April or May 2018 Quarter Ends, with stock market caps of at least $100 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
Washington State Company (Loss) Expense (Loss) (Loss) Expense (Loss) Rate Rate March, March,
Market Caps of $100 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 $
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%
Costco        1,070           309           761           965           259           706 28.9% 26.8% 11% 8%
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%
Nordstrom           125             38             87           103             40             63 30.4% 38.8% 21% 38%
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%
Nautilus             11               3               8             12               4               8 27.3% 33.3% -8% 0%
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%
First Financial Northwest               9               2               7               3               1               2 22.2% 33.3% 200% 250%
HomeStreet               8               2               6             13               4               9 25.0% 30.8% -38% -33%
Alaska Air Group               6               2               4           142             49             93 33.3% 34.5% -96% -96%
Pope Resources LP               6              -                 6             12              -               12 0.0% 0.0% -50% -50%
FS Bancorp               5               1               4               4               1               3 20.0% 25.0% 25% 33%
nLight               4               1               3              -                 1              (1) 25.0% NM NM 400%
Riverview Bancorp               4               1               3               3               1               2 25.0% 33.3% 33% 50%
Funko               3               1               2              (6)              -                (6) 33.3% 0.0% 150% 133%
Clearwater Paper               3              -                 3             13               5               8 0.0% 38.5% -77% -63%
First Northwest Bancorp               2              -                 2               3               1               2 0.0% 33.3% -33% 0%
Radiant Technologies               1              -                 1               2               1               1 0.0% 50.0% -50% 0%
BioLife Solutions              -                -                -                (1)              -                (1) #DIV/0! 0.0% 100% 100%
Trupanion              (1)              -                (1)              (1)              -                (1) 0.0% 0.0% 0% 0%
Marchex              (1)              -                (1)              (4)              -                (4) 0.0% 0.0% 75% 75%
Zumiez              (2)               1              (3)              (7)              (2)              (5) -50.0% 28.6% 71% 40%
Northwest Pipe              (2)              -                (2)              (4)              -                (4) 0.0% 0.0% 50% 50%
CTI BioPharma              (4)              -                (4)            (19)              -              (19) 0.0% 0.0% 79% 79%
Real Networks              (5)              -                (5)              (9)               1            (10) 0.0% -11.1% 44% 50%
Alpine Immune Sciences              (5)              -                (5)              (2)              -                (2) 0.0% 0.0% -150% -150%
WMIH Corp              (6)              -                (6)             18              -               18 0.0% 0.0% -133% -133%
Microvision              (7)              -                (7)              (6)              -                (6) 0.0% 0.0% -17% -17%
Apptio              (8)              -                (8)              (7)              -                (7) 0.0% 0.0% -14% -14%
eXp World Holdings            (11)              -              (11)              (3)              -                (3) 0.0% 0.0% -267% -267%
Barrett Business Services            (12)              (3)              (9)            (17)              (6)            (11) 25.0% 35.3% 29% 18%
Immune Design Corp            (13)              -              (13)            (13)              -              (13) 0.0% 0.0% 0% 0%
Smartsheet            (14)              -              (14)              (7)              -                (7) 0.0% 0.0% -100% -100%
Impinj            (14)              -              (14)              (2)              -                (2) 0.0% 0.0% -600% -600%
Aptevo Therapeutics            (14)              -              (14)            (13)              (1)            (12) 0.0% 7.7% -8% -17%
Zillow Group            (16)               3            (19)              (5)              -                (5) -18.8% 0.0% -220% -280%
Avalara            (16)              (1)            (15)            (16)              -              (16) 6.3% 0.0% 0% 6%
Nano String Technologies            (19)              -              (19)            (19)              -              (19) 0.0% 0.0% 0% 0%
Cray Inc            (25)              -              (25)            (30)            (11)            (19) 0.0% 36.7% 17% -32%
Omeros            (30)              -              (30)            (15)              -              (15) 0.0% 0.0% -100% -100%
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 61 Washington State Cos      17,457        2,957      14,500      14,048        3,393      10,655 16.9% 24.2% 24.3% 36.1%