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Donald Trump's Claim That US Companies Will Generate Substantially Higher Profits in His Administration Than Under Any Other US Presidential Administration Hasn't Proved To Be the Case in Southern California
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My Focus is on Pretax Income Rather Than After-Tax Net Income Because Income Taxes are Simply a Transfer of Financial Wealth From or To the US Federal, US State and Foreign Governments To or From US Corporations. It Has Nothing Whatsoever to do with Company Operating Performance.
But Even on an After-Tax Net Income Basis, These Same 102 Southern California Companies Generated Audited Total Net Income Which Also Increased By an Off-the-Charts 57% in 2016, Obama's Last Year in Office, From That in 2015 ...... While These Same 102 Southern California Companies Posted Audited Total Net Income Which Declined By a Huge 54% in Annual 2017, Trump's First Year in Office, From That in 2016.
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Since Former US President Barack Obama will be campaigning tomorrow Saturday September 8, 2018 in Anaheim, California, I think it would be helpful to research how Southern California Companies have performed on the earnings front in the First Year 2017 of the Trump Administration and compare it to how they have performed in the Last Year 2016 of the Obama Administration.
From a review of SEC filings, the first chart below shows the Audited Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Annual Fiscal Years 2017, 2016 and 2015 along with the related Annual Percentage Changes for 2017 and 2016 for the 102 Southern California Companies including REITs with December or January Year Ends and with stock market caps above $1 bil recently.
| Obama | ||||||
| Trump | Obama | Second | ||||
| First | Last | Last | ||||
| Year | Year | Year | ||||
| 2017 | 2016 | 2015 | ||||
| Audited | Audited | Audited | ||||
| Pretax | Pretax | Pretax | ||||
| Income | Income | Income | ||||
| (Loss) | (Loss) | (Loss) | ||||
| Southern California Companies | From | From | From | |||
| Stock Market Caps Above $1 Bil | City | State | 2017 | Continuing | Continuing | Continuing |
| With December and January Year Ends | HQs | HQs | FYE | Operations | Operations | Operations |
| $ mils | $ mils | $ mils | ||||
| Amgen | Thousand Oaks | CA | Dec 17 | 9,597 | 9,163 | 7,978 |
| Sempra Energy | San Diego | CA | Dec 17 | 1,627 | 1,908 | 1,789 |
| Public Storage | Glendale | CA | Dec 17 | 1,448 | 1,460 | 1,318 |
| Monster Beverage | Corona | CA | Dec 17 | 1,202 | 1,080 | 892 |
| CBRE Group | Los Angeles | CA | Dec 17 | 1,164 | 881 | 880 |
| Activision Blizzard | Santa Monica | CA | Dec 17 | 1,151 | 1,106 | 1,121 |
| Illumina | San Diego | CA | Dec 17 | 1,043 | 561 | 583 |
| Edwards Lifesciences | Irvine | CA | Dec 17 | 1,035 | 738 | 622 |
| Edison Intl | Rosemead | CA | Dec 17 | 949 | 1,590 | 1,568 |
| Oaktree Capital Group LLC | Los Angeles | CA | Dec 17 | 905 | 609 | (1,515) |
| East West Bancorp | Pasadena | CA | Dec 17 | 735 | 572 | 579 |
| Air Lease Corp | Los Angeles | CA | Dec 17 | 610 | 580 | 393 |
| Avery Denison | Glendale | CA | Dec 17 | 590 | 477 | 409 |
| Reliance Steel & Aluminum | Los Angeles | CA | Dec 17 | 584 | 429 | 459 |
| PacWest Bancorp | Brea | CA | Dec 17 | 555 | 558 | 480 |
| Herbalife Ltd | Los Angeles | CA | Dec 17 | 471 | 365 | 486 |
| First American Financial | Santa Ana | CA | Dec 17 | 445 | 478 | 433 |
| HCP Inc | Irvine | CA | Dec 17 | 421 | 379 | 143 |
| Skechers USA Inc | Manhattan Beach | CA | Dec 17 | 384 | 359 | 333 |
| TRI Pointe Group | Irvine | CA | Dec 17 | 340 | 302 | 319 |
| Realty Income Corp | San Diego | CA | Dec 17 | 325 | 320 | 288 |
| Cathay General Bancorp | Los Angeles | CA | Dec 17 | 298 | 242 | 221 |
| Teledyne Technologies Inc | Thousand Oaks | CA | Dec 17 | 287 | 241 | 258 |
| Hope Bancorp | Los Angeles | CA | Dec 17 | 264 | 191 | 155 |
| J2 Global Inc | Los Angeles | CA | Dec 17 | 200 | 211 | 157 |
| Masimo Corp | Irvine | CA | Dec 17 | 199 | 418 | 116 |
| On Assignment | Calabasas | CA | Dec 17 | 197 | 157 | 122 |
| Alexandria Real Estate Equities | Pasadena | CA | Dec 17 | 194 | (50) | 146 |
| AMN Healthcare Services | San Diego | CA | Dec 17 | 193 | 176 | 121 |
| CVB Financial | Ontario | CA | Dec 17 | 189 | 162 | 151 |
| Kilroy Realty Corp | Los Angeles | CA | Dec 17 | 181 | 304 | 239 |
| PS Business Parks | Glendale | CA | Dec 17 | 179 | 145 | 149 |
| Macerich | Santa Monica | CA | Dec 17 | 177 | 556 | 520 |
| Corelogic | Irvine | CA | Dec 17 | 167 | 164 | 187 |
| Mercury General Corp | Los Angeles | CA | Dec 17 | 167 | 71 | 71 |
| Stamps.com | El Segundo | CA | Dec 17 | 160 | 117 | (6) |
| Sabra Health Care REIT Inc | Irvine | CA | Dec 17 | 159 | 71 | 80 |
| Tutor Perini Corp | Sylmar | CA | Dec 17 | 154 | 149 | 74 |
| Ares Management LP | Los Angeles | CA | Dec 17 | 150 | 298 | 81 |
| Cheesecake Factory | Calabasas Hills | CA | Dec 17 | 146 | 192 | 159 |
| TTM Technologies Inc | Costa Mesa | CA | Dec 17 | 140 | 67 | 9 |
| Sunstone Hotel Investors | Aliso Viejo | CA | Dec 17 | 138 | 140 | 341 |
| Kaiser Aluminum Corp | Foothill Ranch | CA | Dec 17 | 133 | 147 | (372) |
| Encore Capital Group | San Diego | CA | Dec 17 | 131 | 57 | 98 |
| Colony Credit Real Estate | Los Angeles | CA | Dec 17 | 130 | 111 | 82 |
| PennyMac Mortgage Investment Trust | Moorpark | CA | Dec 17 | 125 | 62 | 73 |
| Kennedy-Wilson Holdings | Beverly Hills | CA | Dec 17 | 122 | 91 | 112 |
| American States Water | San Dimas | CA | Dec 17 | 108 | 94 | 98 |
| Douglas Emmett Inc | Santa Monica | CA | Dec 17 | 104 | 96 | 69 |
| Green Dot Corp | Pasadena | CA | Dec 17 | 103 | 62 | 58 |
| Pacific Premier Bancorp Inc | Irvine | CA | Dec 17 | 102 | 65 | 41 |
| Marcus & Milichap Inc | Calabasas | CA | Dec 17 | 99 | 107 | 113 |
| Hudson Pacific Properties | Los Angeles | CA | Dec 17 | 95 | 44 | (16) |
| Opus Bank | Irvine | CA | Dec 17 | 90 | 16 | 98 |
| LTC Properties Inc | Westlake Village | CA | Dec 17 | 87 | 85 | 73 |
| American Homes 4 Rent | Agoura Hills | CA | Dec 17 | 76 | 10 | (48) |
| NuVasive Inc | San Diego | CA | Dec 17 | 74 | 65 | 112 |
| Guess? Inc | Los Angeles | CA | Jan 18 | 70 | 28 | 42 |
| The Ensign Group Inc | Mission Viejo | CA | Dec 17 | 69 | 86 | 91 |
| Ensign Group | Mission Viejo | CA | Dec 17 | 69 | 86 | 91 |
| Callaway Golf Co | Carlsbad | CA | Dec 17 | 68 | 58 | 20 |
| The Trade Desk | Ventura | CA | Dec 17 | 64 | 44 | 30 |
| Halozyme Therapeutics | San Diego | CA | Dec 17 | 62 | (102) | (32) |
| Semtech Corp | Camarillo | CA | Jan 18 | 60 | 73 | 20 |
| Ligand Pharmaceuticals | San Diego | CA | Dec 17 | 57 | 8 | 35 |
| ICU Medical | San Clemente | CA | Dec 17 | 51 | 85 | 70 |
| Emerald Expositions Events | San Juan Capistrano | CA | Dec 17 | 47 | 36 | 30 |
| Retail Opportunity Investments Corp | San Diego | CA | Dec 17 | 43 | 36 | 25 |
| Rexford Industrial Realty | Los Angeles | CA | Dec 17 | 42 | 26 | 2 |
| American Assets Trust | San Diego | CA | Dec 17 | 40 | 46 | 54 |
| BJ's Restaurants | Huntington Beach | CA | Dec 17 | 35 | 61 | 62 |
| Inogen | Goleta | CA | Dec 17 | 30 | 23 | 15 |
| Banc of California | Santa Ana | CA | Dec 17 | 27 | 100 | 69 |
| Caretrust REIT Inc | Mission Viejo | CA | Dec 17 | 26 | 29 | 10 |
| AppFolio | Goleta | CA | Dec 17 | 10 | (8) | (16) |
| Glaukos Corp | Laguna Hills | CA | Dec 17 | 0 | 5 | (38) |
| Staar Surgical | Monrovia | CA | Dec 17 | (2) | (12) | (6) |
| QAD | Santa Barbara | CA | Jan 18 | (4) | 4 | 11 |
| Quidel | San Diego | CA | Dec 17 | (8) | (16) | (9) |
| Live Nation Entertainment | Beverly Hills | CA | Dec 17 | (9) | 48 | 6 |
| Alteryx | Irvine | CA | Dec 17 | (18) | (24) | (21) |
| Ionis Pharmaceuticals | Carlsbad | CA | Dec 17 | (23) | (84) | (88) |
| AnaptysBio | San Diego | CA | Dec 17 | (30) | (4) | (5) |
| MaxLinear Inc | Carlsbad | CA | Dec 17 | (34) | 64 | (43) |
| TrueCar Inc | Santa Monica | CA | Dec 17 | (35) | (41) | (64) |
| Blackline | Woodland Hills | CA | Dec 17 | (37) | (46) | (38) |
| DexCom Inc | San Diego | CA | Dec 17 | (49) | (65) | (58) |
| Xencor | Monrovia | CA | Dec 17 | (49) | 25 | (18) |
| Kratos Defense & Security Solutions | San Diego | CA | Dec 17 | (51) | (52) | (45) |
| Retrophin | San Diego | CA | Dec 17 | (58) | (58) | 105 |
| Cornerstone OnDemand | Santa Monica | CA | Dec 17 | (60) | (66) | (84) |
| Mirati Therapeutics | San Diego | CA | Dec 17 | (70) | (83) | (65) |
| Arena Pharmaceuticals | San Diego | CA | Dec 17 | (96) | (12) | (111) |
| Neurocrine Biosciences | San Diego | CA | Dec 17 | (143) | (141) | (89) |
| Colony NorthStar | Los Angeles | CA | Dec 17 | (177) | 296 | 247 |
| California Resources | Los Angeles | CA | Dec 17 | (262) | 201 | (5,476) |
| ACADIA Pharmaceuticals | San Diego | CA | Dec 17 | (288) | (270) | (164) |
| Puma Biotechnology | Los Angeles | CA | Dec 17 | (292) | (276) | (239) |
| DineEquity Inc | Glendale | CA | Dec 17 | (425) | 153 | 169 |
| Mattel | El Segundo | CA | Dec 17 | (505) | 410 | 464 |
| Molina Healthcare | Long Beach | CA | Dec 17 | (612) | 205 | 322 |
| Snap | Santa Monica | CA | Dec 17 | (3,463) | (522) | (380) |
| Total all 102 Southern California Cos | 25,169 | 29,403 | 18,401 | |||
Trump's First Year 2017
|
||||||
….. Pretax Income % Decrease
2017 vs 2016
|
-14.4%
|
|||||
Obama's Last Year 2016
|
||||||
…..Pretax Income % Increase
2016 vs 2015
|
60%
|
Also from a review of SEC filings, the following chart below shows the Audited Gold-Standard US GAAP After-Tax Net Income (Loss) From Continuing Operations for the Annual Fiscal Years 2017, 2016 and 2015 along with the related Annual Percentage Changes for 2017 and 2016 for the 102 Southern California Companies including REITs with December or January Year Ends and with stock market caps above $1 bil recently.
| Obama | ||||||
| Trump | Obama | Second | ||||
| First | Last | Last | ||||
| Year | Year | Year | ||||
| 2017 | 2016 | 2015 | ||||
| Audited | Audited | Audited | ||||
| Net | Net | Net | ||||
| Income | Income | Income | ||||
| (Loss) | (Loss) | (Loss) | ||||
| Southern California Companies | From | From | From | |||
| Stock Market Caps Above $1 Bil | City | State | 2017 | Continuing | Continuing | Continuing |
| With December and January Year Ends | HQs | HQs | FYE | Operations | Operations | Operations |
| $ mils | $ mils | $ mils | ||||
| Amgen | Thousand Oaks | CA | Dec 17 | 1,979 | 7,722 | 6,939 |
| Public Storage | Glendale | CA | Dec 17 | 1,448 | 1,460 | 1,318 |
| Monster Beverage | Corona | CA | Dec 17 | 821 | 713 | 547 |
| Air Lease Corp | Los Angeles | CA | Dec 17 | 756 | 375 | 253 |
| CBRE Group | Los Angeles | CA | Dec 17 | 698 | 584 | 559 |
| Oaktree Capital Group LLC | Los Angeles | CA | Dec 17 | 689 | 566 | (1,533) |
| Illumina | San Diego | CA | Dec 17 | 678 | 428 | 458 |
| Edison Intl | Rosemead | CA | Dec 17 | 668 | 1,413 | 1,082 |
| Reliance Steel & Aluminum | Los Angeles | CA | Dec 17 | 621 | 309 | 316 |
| Edwards Lifesciences | Irvine | CA | Dec 17 | 584 | 570 | 495 |
| East West Bancorp | Pasadena | CA | Dec 17 | 505 | 432 | 385 |
| HCP Inc | Irvine | CA | Dec 17 | 424 | 374 | 153 |
| First American Financial | Santa Ana | CA | Dec 17 | 422 | 343 | 289 |
| PacWest Bancorp | Brea | CA | Dec 17 | 358 | 352 | 300 |
| Sempra Energy | San Diego | CA | Dec 17 | 351 | 1,519 | 1,448 |
| Realty Income Corp | San Diego | CA | Dec 17 | 319 | 316 | 285 |
| Avery Denison | Glendale | CA | Dec 17 | 282 | 321 | 274 |
| Activision Blizzard | Santa Monica | CA | Dec 17 | 273 | 966 | 892 |
| Skechers USA Inc | Manhattan Beach | CA | Dec 17 | 235 | 285 | 261 |
| Teledyne Technologies Inc | Thousand Oaks | CA | Dec 17 | 227 | 191 | 196 |
| Herbalife Ltd | Los Angeles | CA | Dec 17 | 214 | 260 | 339 |
| Alexandria Real Estate Equities | Pasadena | CA | Dec 17 | 194 | (50) | 146 |
| TRI Pointe Group | Irvine | CA | Dec 17 | 188 | 196 | 207 |
| Kilroy Realty Corp | Los Angeles | CA | Dec 17 | 181 | 304 | 239 |
| PS Business Parks | Glendale | CA | Dec 17 | 179 | 145 | 149 |
| Cathay General Bancorp | Los Angeles | CA | Dec 17 | 176 | 175 | 161 |
| Ares Management LP | Los Angeles | CA | Dec 17 | 173 | 287 | 62 |
| Macerich | Santa Monica | CA | Dec 17 | 162 | 555 | 523 |
| On Assignment | Calabasas | CA | Dec 17 | 158 | 97 | 71 |
| Sabra Health Care REIT Inc | Irvine | CA | Dec 17 | 158 | 70 | 79 |
| Cheesecake Factory | Calabasas Hills | CA | Dec 17 | 157 | 139 | 117 |
| Tutor Perini Corp | Sylmar | CA | Dec 17 | 155 | 96 | 45 |
| Stamps.com | El Segundo | CA | Dec 17 | 151 | 75 | (4) |
| Corelogic | Irvine | CA | Dec 17 | 150 | 110 | 130 |
| Sunstone Hotel Investors | Aliso Viejo | CA | Dec 17 | 146 | 141 | 340 |
| Mercury General Corp | Los Angeles | CA | Dec 17 | 145 | 73 | 74 |
| J2 Global Inc | Los Angeles | CA | Dec 17 | 139 | 152 | 134 |
| Hope Bancorp | Los Angeles | CA | Dec 17 | 139 | 114 | 92 |
| Kennedy-Wilson Holdings | Beverly Hills | CA | Dec 17 | 138 | 77 | 59 |
| AMN Healthcare Services | San Diego | CA | Dec 17 | 133 | 106 | 82 |
| Masimo Corp | Irvine | CA | Dec 17 | 132 | 301 | 82 |
| Colony Credit Real Estate | Los Angeles | CA | Dec 17 | 128 | 109 | 82 |
| TTM Technologies Inc | Costa Mesa | CA | Dec 17 | 125 | 36 | (26) |
| PennyMac Mortgage Investment Trust | Moorpark | CA | Dec 17 | 118 | 76 | 90 |
| Douglas Emmett Inc | Santa Monica | CA | Dec 17 | 104 | 96 | 69 |
| CVB Financial | Ontario | CA | Dec 17 | 104 | 101 | 99 |
| Hudson Pacific Properties | Los Angeles | CA | Dec 17 | 95 | 44 | (16) |
| LTC Properties Inc | Westlake Village | CA | Dec 17 | 87 | 85 | 73 |
| Green Dot Corp | Pasadena | CA | Dec 17 | 86 | 42 | 38 |
| Emerald Expositions Events | San Juan Capistrano | CA | Dec 17 | 82 | 22 | 20 |
| NuVasive Inc | San Diego | CA | Dec 17 | 81 | 35 | 65 |
| Encore Capital Group | San Diego | CA | Dec 17 | 79 | 19 | 71 |
| American Homes 4 Rent | Agoura Hills | CA | Dec 17 | 76 | 10 | (48) |
| American States Water | San Dimas | CA | Dec 17 | 69 | 60 | 60 |
| ICU Medical | San Clemente | CA | Dec 17 | 69 | 63 | 45 |
| Halozyme Therapeutics | San Diego | CA | Dec 17 | 63 | (103) | (32) |
| Pacific Premier Bancorp Inc | Irvine | CA | Dec 17 | 60 | 40 | 26 |
| Banc of California | Santa Ana | CA | Dec 17 | 53 | 87 | 41 |
| Marcus & Milichap Inc | Calabasas | CA | Dec 17 | 52 | 65 | 66 |
| The Trade Desk | Ventura | CA | Dec 17 | 51 | 20 | 16 |
| Opus Bank | Irvine | CA | Dec 17 | 48 | 11 | 60 |
| Kaiser Aluminum Corp | Foothill Ranch | CA | Dec 17 | 45 | 92 | (237) |
| BJ's Restaurants | Huntington Beach | CA | Dec 17 | 45 | 46 | 45 |
| Retail Opportunity Investments Corp | San Diego | CA | Dec 17 | 43 | 36 | 25 |
| Rexford Industrial Realty | Los Angeles | CA | Dec 17 | 42 | 26 | 2 |
| Callaway Golf Co | Carlsbad | CA | Dec 17 | 42 | 191 | 15 |
| The Ensign Group Inc | Mission Viejo | CA | Dec 17 | 41 | 53 | 56 |
| Ensign Group | Mission Viejo | CA | Dec 17 | 41 | 53 | 56 |
| American Assets Trust | San Diego | CA | Dec 17 | 40 | 46 | 54 |
| Semtech Corp | Camarillo | CA | Jan 18 | 36 | 55 | 11 |
| Caretrust REIT Inc | Mission Viejo | CA | Dec 17 | 26 | 29 | 10 |
| Inogen | Goleta | CA | Dec 17 | 21 | 21 | 12 |
| Ligand Pharmaceuticals | San Diego | CA | Dec 17 | 13 | (2) | 227 |
| AppFolio | Goleta | CA | Dec 17 | 10 | (8) | (16) |
| Live Nation Entertainment | Beverly Hills | CA | Dec 17 | 8 | 20 | (16) |
| Glaukos Corp | Laguna Hills | CA | Dec 17 | (0) | 5 | (38) |
| Staar Surgical | Monrovia | CA | Dec 17 | (2) | (12) | (7) |
| Guess? Inc | Los Angeles | CA | Jan 18 | (4) | 25 | 85 |
| Quidel | San Diego | CA | Dec 17 | (8) | (14) | (6) |
| MaxLinear Inc | Carlsbad | CA | Dec 17 | (9) | 61 | (42) |
| QAD | Santa Barbara | CA | Jan 18 | (9) | (15) | 9 |
| Ionis Pharmaceuticals | Carlsbad | CA | Dec 17 | (17) | (87) | (88) |
| Alteryx | Irvine | CA | Dec 17 | (17) | (24) | (21) |
| AnaptysBio | San Diego | CA | Dec 17 | (30) | (4) | (5) |
| TrueCar Inc | Santa Monica | CA | Dec 17 | (33) | (42) | (65) |
| Blackline | Woodland Hills | CA | Dec 17 | (38) | (39) | (25) |
| Kratos Defense & Security Solutions | San Diego | CA | Dec 17 | (43) | (60) | (33) |
| Xencor | Monrovia | CA | Dec 17 | (49) | 24 | (18) |
| DexCom Inc | San Diego | CA | Dec 17 | (50) | (66) | (58) |
| Retrophin | San Diego | CA | Dec 17 | (60) | (48) | 117 |
| Cornerstone OnDemand | Santa Monica | CA | Dec 17 | (61) | (67) | (86) |
| Mirati Therapeutics | San Diego | CA | Dec 17 | (70) | (83) | (65) |
| Colony Capital | Los Angeles | CA | Dec 17 | (78) | 291 | 256 |
| Arena Pharmaceuticals | San Diego | CA | Dec 17 | (96) | (12) | (111) |
| Neurocrine Biosciences | San Diego | CA | Dec 17 | (143) | (141) | (89) |
| California Resources | Los Angeles | CA | Dec 17 | (262) | 279 | (3,554) |
| ACADIA Pharmaceuticals | San Diego | CA | Dec 17 | (289) | (271) | (164) |
| Puma Biotechnology | Los Angeles | CA | Dec 17 | (292) | (276) | (239) |
| DineEquity Inc | Glendale | CA | Dec 17 | (331) | 98 | 105 |
| Molina Healthcare | Long Beach | CA | Dec 17 | (512) | 52 | 143 |
| Mattel | El Segundo | CA | Dec 17 | (1,054) | 318 | 369 |
| Snap | Santa Monica | CA | Dec 17 | (3,445) | (515) | (373) |
| Total all 102 Southern California Cos | 10,787 | 23,615 | 15,084 | |||
Trump's First Year 2017
|
||||||
….. Net Income % Decrease 2017
vs 2016
|
-54%
|
|||||
Obama's Last Year 2016
|
||||||
….. Net Income % Increase
2016 vs 2015
|
57%
|
