Arizona Companies Pretax Earnings Increase By a Superb 32% in the Most Recent Second Quarter 2018, But Which Was a 50% Haircut From Their Spectacular 64% Increase in the First Quarter 2018, Both Quarters Driven in Large Part By Copper Mining Company Freeport McMoran (74% of Its Total Revenues Comes From Copper)

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Since Freeport McMoran Pretax Earnings Were So Large and Increased By So Much, and Also Are in Large Part a Function of World Copper Prices, It is Helpful to Show the Pretax Earnings of Arizona Companies Exclusive of Freeport McMoran.

Arizona Companies Exclusive of Freeport McMoran Posted Pretax Earnings Which Declined By 11% in the Second Quarter of 2018, an Earnings Reversal From Their Pretax Earnings Growth of 18% in the First Quarter of 2018.

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From a Longer Term Perspective, Arizona Profits Were Completely Down the Tubes With Total After-Tax Net Losses of $12.1 Bil in 2008, the Year Before Barack Obama Took Office.   Subsequently, During the Entire Span of the Obama Administration, Arizona Companies Posted a Total After-Tax Earnings Improvement of $11.7 Bil, Pretty Much Across the Board, With Their Total After-Tax Net Losses of $12.1 Bil in 2008 Being Reduced Down to $0.4 Bil in 2016, Obama's Last Year in Office.

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From a review of US SEC filings, there were 31 Companies headquartered in Arizona with stock market caps of more than $1 Bil recently.

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 Ended and First Quarter Ended 2018 and 2017 for these 31 Arizona 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
Arizona 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 $
Freeport McMoran (FCX)	1,554	512	204%		1,334	442	202%
Republic Services	313	333			311	296
Pinnacle West Capital	216	261			7	32
ON Semiconductor	193	143			157	115
Carlisle Cos	146	140			78	84
Western Alliance Bancorp	130	112			122	98
Knight-Swift Transportation	119	29			90	23
Avnet	94	55			(72)	106	-168%
Versum Materials	84	69			77	58
Taylor Morrison Home	79	78			59	55
Meritage Homes	71	63			49	37
Insight Enterprises	69	65			44	19
STORE Capital Corp	62	61			50	31
Grand Canyon Education	60	55			91	76
Cable One	57	45			50	51
Sprouts Farmers Market	55	58			74	68
Amkor Technology	44	153	-71%		13	(15)
Microchip Technology	38	166	-77%		188	72	161%
Viad	33	38			(16)	10
Rogers Corp	26	32			31	40
Cavco Industries	24	16			31	17
GoDaddy	19	19			4	(2)
Mobile Mini	18	13			20	15
Magellan Health	18	11			11	29
Healthcare Trust of America	16	(6)			10	14
Benchmark Electronics	13	21			18	10
Axon Enterprises	5	3			15	6
Accelerate Diagnostics	(23)	(16)			(21)	(14)
Carvana	(51)	(39)			(53)	(38)
First Solar	(55)	12	-558%		95	15	533%
VEREIT	(74)	31	-339%		30	15	100%
Total all 30 Arizona Cos (No FCX)	1,799	2,021	-11%		1,563	1,322	18%
Total all 31 Arizona Cos	3,353	2,533	32%		2,897	1,764	64%

Also from a review of SEC filings, the chart below shows the Gold-Standard US GAAP Audited After-Tax Net Income (Loss) From Continuing Operations for Annual 2016 and Annual 2008, spanning the entire Obama Administration, for the 29 Arizona Companies which reported both their 2016 and 2008 After-Tax Net Income (Loss) to the SEC.

					Year
					Before
				Obama	Obama
				Last	First
				Year	Year
				in	in
				Office	Office
				2016	2008
				Audited	Audited		Better
				Net	Net		(Worse)
Arizona Companies	City	State	2016	Income	Income	Better	%
Market Caps Above $1 Bil	HQs	HQs	FYE	(Loss)	(Loss)	(Worse)	Change
				$ mils	$ mils	$ mils
Freeport-McMoRan (FCX)	Phoenix	AZ	Dec16	(3,832)	(10,450)	6,618	63%
Republic Services	Phoenix	AZ	Dec16	613	74	539	728%
Avnet	Phoenix	AZ	Jun17	507	(1,130)	1,637	145%
Pinnacle West Capital	Phoenix	AZ	Dec16	462	278	184	66%
Western Alliance Bancorp	Phoenix	AZ	Dec16	260	(230)	490	213%
Carlisle Companies	Scottsdale	AZ	Dec16	251	92	159	173%
Taylor Morrison Home	Scottsdale	AZ	Dec16	207	(397)	604	152%
Northern Tier Energy LP	Tempe	AZ	Dec16	187	59	128	217%
ON Semiconductor	Phoenix	AZ	Dec16	185	(429)	614	143%
Microchip Technology	Chandler	AZ	Mar17	171	246	(75)	-30%
Amkor Technology	Tempe	AZ	Dec16	167	(457)	624	137%
Meritage Homes Corp	Scottsdale	AZ	Dec16	150	(292)	442	151%
Grand Canyon Education	Phoenix	AZ	Dec16	149	7	142	2029%
Swift Transportation	Phoenix	AZ	Dec16	149	(147)	296	201%
Sprouts Farmers Market	Phoenix	AZ	Dec16	124	4	120	3000%
Knight Transportation	Phoenix	AZ	Dec16	95	56	39	70%
Insight Enterprises	Tempe	AZ	Dec16	85	(240)	325	135%
Magellan Health Inc	Scottsdale	AZ	Dec16	76	86	(10)	-12%
Benchmark Electronics	Scottsdale	AZ	Dec16	64	(136)	200	147%
Rogers Corp	Chandler	AZ	Dec16	48	22	26	118%
Mobile Mini Inc	Phoenix	AZ	Dec16	47	29	18	62%
Healthcare Trust of America	Scottsdale	AZ	Dec16	47	(29)	76	262%
Viad	Phoenix	AZ	Dec16	43	44	(1)	-2%
Cavco Industries Inc	Phoenix	AZ	Mar17	38	0	38	8197%
TASER International Inc	Scottsdale	AZ	Dec16	17	4	13	325%
Accelerate Diagnostics	Tucson	AZ	Dec16	(66)	(2)	(64)	-3200%
Apollo Education Group	Phoenix	AZ	Aug16	(81)	487	(568)	-117%
Vereit Inc	Phoenix	AZ	Dec16	(201)	(1)	(200)	-20000%
First Solar	Tempe	AZ	Dec16	(358)	348	(706)	-203%
Total all 28 Arizona Companies No FCX				3,436	(1,654)	5,090	308%
Total all 29 Arizona Companies				(396)	(12,104)	11,708	97%