Monday, October 8, 2018

Connecticut Companies Earnings Decline By 2% in 2017, Trump's First Year in Office ......................................................................................

From a review of US SEC filings, there were a large number of 56 Companies headquartered in Connecticut with stock market caps of more than $500 mil recently.

These fine 56 Connecticut Cos posted Audited Gold-Standard US GAAP Total Pretax Income From Continuing Operations of a huge $35.169 Bil in Fiscal Year Ended (FYE) 2017, Down 2% from their similar Total Pretax Income of $35.843 Bil in FYE 2016. 

Nearly all Republicans, a high percentage of Independents and even many perceptive Democrats all agree as a starting point that for US capitalism to work properly, Companies must generate in the aggregate reasonably healthy profits.  This didn't happen for Connecticut Cos in 2017.

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 Audited Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Years Ended 2017 and 2016 for these 56 Connecticut Companies with stock market caps above $500 mil recently.
 Year Year
2017 2016
Audited Audited
Pretax Pretax
Income Income
  (Loss) (Loss)
    From From
Connecticut Companies City State 2017 Continuing Continuing
Stock Market Caps Above $1 Bil HQs HQs FYE Operations Operations
   $ mils  $ mils
United Technologies Farmington CT Dec 17                7,763                7,133
Booking Holdings Norwalk CT Dec 17                4,398                2,713
Cigna Bloomfield CT Dec 17                3,606                2,979
Synchrony Financial Stamford CT Dec 17                3,324                3,570
Aetna Hartford CT Dec 17                2,992                3,991
Praxair Danbury CT Dec 17                2,334                2,089
Stanley Black & Decker New Britain CT Dec 17                1,526                1,226
Amphenol Wallingford CT Dec 17                1,352                1,141
Interactive Brokers Group Greenwich CT Dec 17                1,049                   761
United Rentals Stamford CT Dec 17                1,048                   909
Charter Communications Stamford CT Dec 17                1,028                   820
WR Berkley Corp Greenwich CT Dec 17                   773                   896
Hartford Financial Services Hartford CT Dec 17                   723                   447
Xerox Norwalk CT Dec 17                   685                   695
Alexion Pharma New Haven CT Dec 17                   548                   576
People's United Financial Bridgeport CT Dec 17                   467                   410
Starwood Property Trust Greenwich CT Dec 17                   444                   376
Hubbell Shelton CT Dec 17                   443                   430
Crane Stamford CT Dec 17                   368                   164
Webster Financial Waterbury CT Dec 17                   354                   303
Fact Set Research Systems Norwalk CT Aug 17                   344                   461
Hexcel Stamford CT Dec 17                   327                   340
EMCOR Group Norwalk CT Dec 17                   319                   296
Genesee & Wyoming Darien CT Dec 17                   296                   215
Blue Buffalo Pet Products Wilton CT Dec 17                   293                   207
Pitney Bowes Stamford CT Dec 17                   283                   246
SS&C Technologies Windsor CT Dec 17                   283                   164
XPO Logistics Greenwich CT Dec 17                   261                   107
Silgan Holdings Stamford CT Dec 17                   240                   232
Barnes Group Bristol CT Dec 17                   196                   183
Aircastle Ltd Stamford CT Dec 17                   154                   164
Avangrid Orange CT Dec 17                   123                1,009
RBC Bearings Oxford CT Mar 18                   120                   105
Terex Westport CT Dec 17                   112                  (271)
Kaman Bloomfield CT Dec 17                     94                     90
Virtus Investment Partners Hartford CT Dec 17                     80                     70
Sturm Ruger Southport CT Dec 17                     78                   136
Navigators Group Stamford CT Dec 17                     75                   118
United Financial Bancorp Hartford CT Dec 17                     67                     54
World Wrestling Entertainment Stamford CT Dec 17                     64                     55
Lydall Manchester CT Dec 17                     61                     55
Urstadt Biddle Properties Greenwich CT Dec 17                     55                     35
Ethan Allen Interiors Danbury CT Jun 18                     49                     57
Star Group LP Stamford CT Sep 17                     47                     79
Independence Holding Stamford CT Dec 17                     28                     32
Photronics Brookfield CT Oct 17                     27                     60
Connecticut Water Service Clinton CT Dec 17                     23                     26
The Chef's Warehouse Ridgefield CT Dec 17                     18                       6
Compass Diversified Holdings Westport CT Dec 17                      (7)                     63
Cara Therapeutics Stamford CT Dec 17                    (58)                    (58)
Tronox Ltd Stamford CT Dec 17                    (87)                  (264)
Biohaven Pharmaceutical Ltd New Haven CT Dec 17                  (126)                    (63)
Gartner Stamford CT Dec 17                  (128)                   288
Loxo Oncology Stamford CT Dec 17                  (149)                    (72)
XL Group Ltd Stamford CT Dec 17                  (431)                   612
Frontier Communications Norwalk CT Dec 17               (3,187)                  (623)
Total all 56 Connecticut Companies              35,169              35,843
Trump's First Year 2017  
….. Pretax Income % Decrease 2017 vs 2016 -2%





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