Tuesday, October 16, 2018

Delaware Companies Pretax Earnings Declined By a Huge 39% in the First Half 2018, After Declining By an Even Worse 47% in Annual Fiscal Year Ended 2017 .....................................................................................

From a review of US SEC filings, there were 8 Companies headquartered in Delaware 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 First Half of Both 2018 and 2017 for these 8 Delaware Companies.

US US
GAAP GAAP
Pretax Pretax
Income Income
(Loss) (Loss)
6 Months 6 Months
June June Better
July July (Worse)
Delaware Companies or Aug or Aug %
Market Caps Above $1 Bil 2018 2017  Change
mils $ mils $
Chemours Co                 704                 398 77%
DuPont                 466              2,181 -79%
SLM Corp                 317                 261
Navient                 275                 313
WSFS Financial                   84                   59
Chesapeake Utilities                   46                   42
Interdigital                   35                 110
Incyte Corp                   14               (207) 107%
Total all 8 Delaware Cos              1,941              3,157 -39%