Wednesday, September 26, 2018

Minnesota Companies Earnings Growth in 2017, Trump's First Year in Office, Increased By 2.9% Over 2016, Slightly Lower Than Their 4.1% Earnings Growth in 2016 Over 2015 .......................................................................................

From a review of SEC filings, there are 35 Minnesota headquartered Companies with stock market caps above $1 Bil or with book value of Total Equity above $1 Bil, which have either October, November, December, January or February year ends and which have filed their annual audited financial statements with the SEC for Fiscal Year Ends (FYEs) 2017, 2016 and 2015.

 These 35 Minnesota Companies Posted Total Pretax Income growth of 2.9% in 2017 over 2016 and posted Total Pretax Income growth of a bit higher 4.1% in 2016 over 2015.

 Excluding the high earnings growth giant UnitedHealth Group, the remaining 34 Minnesota Companies posted a Total Pretax Income decline of 2.0% in 2017 as compared with 2016, and posted a Total Pretax Income increase of 0.8% in 2016 as compared with 2015.

 My Focus is on Pretax Income Rather Than After-Tax Net Income Because Income Taxes are Simply a Transfer of Financial Wealth Between US Corporations and the US Federal, US State and Foreign  Governments.  It Has Nothing Whatsoever to do with Company Operating Performance.

From a review of SEC filings, the chart below shows the Audited Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Fiscal Years Ended 2017, 2016 and 2015 for these 35 Minnesota Companies.
Trump
First
Year Year Year
2017 2016 2015
Audited Audited Audited
Pretax Pretax Pretax
Income Income Income
(Loss) (Loss) (Loss)
Minnesota Companies From From From
With October Through February Year Ends City State 2017 Continuing Continuing Continuing
Stock Market Caps Above $1 Bil HQs HQs FYE Operations Operations Operations
 $ mils  $ mils  $ mils
UnitedHealth Group Minneapolis MN Dec 17          14,023          11,863          10,231
3M Saint Paul MN Dec 17            7,548            7,053            6,823
US Bancorp Minneapolis MN Dec 17            7,517            8,105            8,030
Target Minneapolis MN Jan 18            3,646            3,965            4,923
Travelers Companies Saint Paul MN Dec 17            2,730            4,053            4,740
Ameriprise Financial Minneapolis MN Dec 17            2,214            1,592            2,142
Best Buy Richfield MN Jan 18            1,817            1,816            1,310
Ecolab Saint Paul MN Dec 17            1,765            1,650            1,318
XCEL Energy Minneapolis MN Dec 17            1,690            1,704            1,527
Hormel Foods Austin MN Oct 17            1,279            1,317            1,057
Allianz Life Insurance North America Minneapolis MN Dec 17               923            1,143               843
Fastenal Winona MN Dec 17               873               790               826
CH Robinson Worldwide Eden Prairie MN Dec 17               728               812               823
Pentair plc Golden Valley MN Dec 17               489               561               513
Mosaic Plymouth MN Dec 17               391               227            1,101
Toro Co Bloomington MN Oct 17               353               330               291
Graco Minneapolis MN Dec 17               347                 97               475
Polaris Industries Medina MN Dec 17               319               313               686
Deluxe Shoreview MN Dec 17               313               340               328
nVent Electric plc St. Louis Park MN Dec 17               313               315               266
TCF Financial Wayzata MN Dec 17               245               338               315
ALLETE Duluth MN Dec 17               187               176               167
Apogee Enterprises Minneapolis MN Feb 18               110               123                 97
Otter Tail Fergus Falls MN Dec 17                 99                 82                 80
Sleep Number Minneapolis MN Dec 17                 91                 76                 75
SUPERVALU Inc Eden Prairie MN Feb 18                 77                 20                 53
Proto Labs Maple Plain MN Dec 17                 74                 64                 68
HB Fuller Saint Paul MN Nov 17                 67               175               144
Capella Education Minneapolis MN Dec 17                 46                 68                 70
SPS Commerce Minneapolis MN Dec 17                   9                   9                   7
Tennant Minneapolis MN Dec 17                 (1)                 66                 50
Northern Oil & Gas Minnetonka MN Dec 17               (11)             (295)          (1,178)
Piper Jaffray Minneapolis MN Dec 17               (29)               (31)                 86
Stratasys Ltd Eden Prairie MN Dec 17               (31)               (87)          (1,384)
Ceridian HCM Holding Minneapolis MN Dec 17               (55)               (92)               (80)
All 34 Minnesota Cos … No UnitedHealthGroup
          36,133          36,875          36,592
….. Pretax Income (PTI) % Change vs Preceding Year -2.0% 0.8%
Total all 35 Minnesota Cos
          50,156          48,738          46,823
….. Pretax Income (PTI) % Increase vs Preceding Year 2.9% 4.1%



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