Monday, October 15, 2018

Alabama Companies Pretax Earnings Increase 8% in the Most Recent Second Quarter 2018, a Huge Earnings Growth Deceleration From the 29% Growth in the First Quarter 2018, the 39% Growth in Annual 2017 and the 132% Growth in Annual 2016 ...............................................................................

From a review of US SEC filings, there were 9 Companies effectively headquartered in Alabama with stock market caps or Total Equity of more than $1 Bil recently.

My Focus is on Pretax Income Rather Than on 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 Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Second Quarter and First Quarter Ended 2018 and 2017 for these 9 Alabama Companies.


US US US US
GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax
Income Income Income Income
(Loss) (Loss) (Loss) (Loss)
June Qtr June Qtr % Mar Qtr Mar Qtr %
July Qtr July Qtr Change Apr Qtr Apr Qtr Change
Alabama Companies or Aug Qtr or Aug Qtr Better or May Qtr or May Qtr Better
Market Caps Above $1 Bil 2018 2017 (Worse) 2018 2017 (Worse)
mils $ mils $ mils $ mils $
Regions Financial                 467                 449             542            420 29%
Vulcan Materials                 200                 157               48              40 20%
Encompass Health                 142                 108             136            125
Medical Properties Trust                 114                   73               92              69
Protective Life                   99                 126               92            112
Warrior Met Coal                   91                 163 -44%             179            110
Energen Corp                   88                   46             155              53
ServisFirst Bancshares                   42                   34               40              30
ProAssurance                   28                   19                 8              40
Total all 9 Alabama Cos              1,271              1,175 8%          1,292            999 29%