Wednesday, July 11, 2018

The 72 Virginia Companies 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 $15.971 Bil, Up a Very Robust 18.5% From Their Previous Year's Quarter Total PTI, and Exclusive of US Govt Sponsored Freddie Mac, Up an Even More Robust 21.1% ........................................................................................ And This Very Strong Pretax Earnings Growth Was Very Broad-Based .......................................................................................

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 Virginia 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
Virginia 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 $
Freddie Mac        3,674           748        2,926        3,321        1,110        2,211 20.4% 33.4% 11% 32%
All Cos But Freddie Mac
Altria Group        2,466           571        1,895        2,091           689        1,402 23.2% 33.0% 18% 35%
Capital One Financial        1,662           319        1,343        1,109           314           795 19.2% 28.3% 50% 69%
AES Corp        1,009           231           778           164             67             97 22.9% 40.9% 515% 702%
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%
Norfolk Southern           707           155           552           655           222           433 21.9% 33.9% 8% 27%
DXC Technology           661             96           565          (187)            (49)          (138) 14.5% 26.2% 453% 509%
Dominion Energy           661           135           526           949           275           674 20.4% 29.0% -30% -22%
CarMax           320             81           239           338           126           212 25.3% 37.3% -5% 13%
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%
Hilton Worldwide           221             58           163             66             18             48 26.2% 27.3% 235% 240%
Dollar Tree           208             47           161           314           113           201 22.6% 36.0% -34% -20%
Huntington Ingalls Industries           195             39           156           147             28           119 20.0% 19.0% 33% 31%
NVR Inc           191             25           166           132             29           103 13.1% 22.0% 45% 61%
Verisign           152             18           134           148             31           117 11.8% 20.9% 3% 15%
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%
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%
Booz Allen Hamilton           112             27             85           108             42             66 24.1% 38.9% 4% 29%
CACI Intl             94             30             64             55             15             40 31.9% 27.3% 71% 60%
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%
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%
Science Applications Intl             55               6             49             52               3             49 10.9% 5.8% 6% 0%
Trex Co             47             10             37             42             14             28 21.3% 33.3% 12% 32%
Performance Food Group             45             11             34             33             12             21 24.4% 36.4% 36% 62%
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%
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%
Towne Bank             32               6             26             32               9             23 18.8% 28.1% 0% 13%
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%
American Woodward             28               9             19             27             10             17 32.1% 37.0% 4% 12%
Mantech Intl             26               6             20             24               9             15 23.1% 37.5% 8% 33%
Tredegar             23               5             18               6               2               4 21.7% 33.3% 283% 350%
Union Bankshares             19               2             17             26               7             19 10.5% 26.9% -27% -11%
Continental Building Products             18               4             14                 18               6             12 22.2% 33.3% 0% 17%
ePLUS             18               9               9             19               8             11 50.0% 42.1% -5% -18%
ICF Intl             16               4             12             15               5             10 25.0% 33.3% 7% 20%
Iridium Communications             15               4             11             56             18             38 26.7% 32.1% -73% -71%
Owens & Minor             14               6               8             29             10             19 42.9% 34.5% -52% -58%
Alarm.com Holdings             12               1             11                   5               1               4 8.3% 20.0% 140% 175%
Strayer Education             12               2             10             19               8             11 16.7% 42.1% -37% -9%
First Community Bancshares             11               2               9               9               3               6 18.2% 33.3% 22% 50%
Access National             10               2               8               4               1               3 20.0% 25.0% 150% 167%
Kinsale Capital Group               9               2               7               9               3               6 22.2% 33.3% 0% 17%
Hooker Furniture               9               2               7               7               2               5 22.2% 28.6% 29% 40%
VSE Corp               9               2               7             12               5               7 22.2% 41.7% -25% 0%
Engility Holdings               8               2               6             13               5               8 25.0% 38.5% -38% -25%
Armada Hoffler Properties               7              -                 7               9              -                 9 0.0% 0.0% -22% -22%
Shenandoah Telecomm               6               1               5               3               1               2 16.7% 33.3% 100% 150%
Gladstone Commercial               5              -                 5               4              -                 4 0.0% 0.0% 25% 25%
Chesapeake Lodging Trust               4              (2)               6               4              (4)               8 -50.0% -100.0% 0% -25%
MicroStrategy Inc               1              (1)               2             20               4             16 -100.0% 20.0% -95% -88%
Gannett Co              -                -                -                (7)              (5)              (2) NM 71.4% 100% 100%
Lumber Liquidators              (2)              -                (2)            (26)              -              (26) 0.0% 0.0% 92% 92%
Verrica Pharmaceuticals              (2)              -                (2)              (1)              -                (1) 0.0% 0.0% -100% -100%
Appian              (9)              -                (9)              (3)              -                (3) 0.0% 0.0% -200% -200%
K2M Group Holdings            (11)              -              (11)            (11)              -              (11) 0.0% 0.0% 0% 0%
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%
Comscore            (50)               1            (51)            (40)               1            (41) -2.0% -2.5% -25% -24%
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%
Total71VACos..No Freddie Mac      12,297        2,591        9,706      10,154           567        9,587 21.1% 5.6% 21.1% 1%
Total all 72 Virginia Cos      15,971        3,339      12,632      13,475        1,677      11,798 20.9% 12.4% 18.5% 7%

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