For a Longer-Term Perspective, Florida Companies Had Their Total Pretax Earnings Increase By 19,126% During the Obama Administration, Going From a Total Pretax Income of $167 Mil in 2008, One Year Before Obama Took Office, to $32.108 Bil in 2016, Obama's Last Year in Office
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From
a review of US SEC filings, there were 75 Companies headquartered in Florida
with stock market caps 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 most recent
Second Quarters of 2018 and 2017 for these 75 Florida Companies.
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| June Qtr | June Qtr | % | |
| July Qtr | July Qtr | Change | |
| Florida Companies | or Aug Qtr | or Aug Qtr | Better |
| Market Caps Above $1 Bil | 2018 | 2017 | (Worse) |
| mils $ | mils $ | ||
| Carnival | 1,744 | 1,368 | 27% |
| CSX Corp | 1,144 | 827 | 38% |
| Nextera Energy | 931 | 1,093 | -15% |
| Lennar | 566 | 368 | 54% |
| Royal Caribbean | 466 | 370 | 26% |
| Restaurant Brands Intl | 373 | 286 | 30% |
| Raymond James Financial | 318 | 277 | 15% |
| Roper Technologies | 313 | 255 | 23% |
| Fidelity National Financial | 276 | 277 | 0% |
| NextEra Energy Partners LP | 275 | 78 | 253% |
| Fidelity Natl Info Services | 269 | 283 | -5% |
| Harris Corp | 251 | 234 | 7% |
| Affiliated Managers Group | 239 | 267 | -10% |
| Norwegian Cruise Line | 232 | 205 | 13% |
| WellCare Health Plans | 230 | 115 | 100% |
| Darden Restaurants | 176 | 160 | 10% |
| Hilton Grand Vacations | 146 | 84 | 74% |
| Watsco | 137 | 128 | 7% |
| Citrix Systems | 131 | 114 | 15% |
| AutoNation | 130 | 145 | -10% |
| BankUnited | 117 | 95 | 23% |
| MasTec | 116 | 139 | -17% |
| Mednax | 110 | 104 | 6% |
| Jabil | 109 | 82 | 33% |
| Brown & Brown | 101 | 108 | -6% |
| Ryder System | 98 | 81 | |
| Heico | 96 | 74 | |
| Tupperware Brands | 89 | (13) | 785% |
| Landstar System | 83 | 60 | |
| Tech Data | 81 | 75 | |
| Rayonier Advanced Materials | 72 | 7 | |
| National Retail Properties | 71 | 58 | |
| National Beverage | 64 | 58 | |
| Universal Insurance Holdings | 61 | 48 | |
| FCB Financial Holdings | 56 | 43 | |
| Regency Centers | 49 | 50 | |
| Black Knight | 47 | 38 | |
| Rayonier | 46 | 38 | |
| KLX Inc | 45 | 33 | |
| Masonite Intl | 44 | 37 | |
| World Fuel Services | 42 | 35 | |
| Dycom Industries | 41 | 70 | |
| GEO Group | 41 | 32 | |
| ILG Inc | 41 | 39 | |
| CenterState Bank | 40 | 21 | |
| Bluegreen Vacations | 39 | 43 | |
| TopBuild | 37 | 38 | |
| SeaWorld Entertainment | 35 | (242) | 114% |
| Xenia Hotel & Resorts | 35 | 77 | |
| St Joe Co | 33 | 17 | |
| Vector Group Ltd | 32 | 50 | |
| Office Depot | 28 | 35 | |
| PGT Innovations | 26 | 15 | |
| Wyndham Destinations | 26 | 10 | |
| Chico's FAS | 22 | 35 | |
| Bloomin Brands | 22 | 39 | |
| Seacoast Banking Corp Florida | 22 | 12 | |
| Ultimate Software Group | 21 | 7 | |
| Marriott Vacations Worldwide | 17 | 71 | |
| Welbilt | 17 | 30 | |
| Intl Speedway | 15 | 5 | |
| Spirit Airlines | 15 | 123 | |
| ARMOUR Residential REIT | 14 | 30 | |
| Advanced Disposal Services | 13 | (0) | |
| Sun Hydraulics | 9 | 11 | |
| Sykes Enterprises | 5 | 10 | |
| OPKO Health | 3 | (22) | |
| Fresh Del Monte Produce | 1 | 77 | |
| Herc Holdings | 1 | (50) | |
| Platform Specialty Products | (3) | (49) | |
| AxoGen | (7) | (2) | |
| ACI Worldwide | (11) | (51) | |
| Therapeutics MD | (33) | (20) | |
| SBA Communications | (76) | 13 | |
| Hertz Global Holdings | (86) | (245) | 65% |
| Total all 75 Florida Cos | 10,379 | 8,413 | 23% |
Also from a review of SEC filings, the chart below shows the Gold-Standard US GAAP Audited Pretax Income (Loss) From Continuing Operations for Annual 2016 and Annual 2008, spanning the entire Obama Administration, for the 66 Florida Companies which reported both their 2016 and 2008 Pretax Income (Loss) to the SEC.
| Year | |||||||
| Before | |||||||
| Obama | Obama | ||||||
| Last | First | ||||||
| Year | Year | ||||||
| in | in | ||||||
| Office | Office | ||||||
| 2016 | 2008 | ||||||
| Audited | Audited | Better | |||||
| Pretax | Pretax | (Worse) | |||||
| Florida Companies | City | State | 2016 | Income | Income | Better | % |
| Stock Market Caps Above $1 Bil | HQs | HQs | FYE | (Loss) | (Loss) | (Worse) | Change |
| $ mils | $ mils | $ mils | |||||
| Nextera Energy | Juno Beach | FL | Dec 16 | 4,388 | 2,089 | 2,299 | 110% |
| Carnival | Miami | FL | Nov 16 | 2,828 | 2,371 | 457 | 19% |
| CSX Corp | Jacksonville | FL | Dec 16 | 2,741 | 2,332 | 409 | 18% |
| Lennar | Miami | FL | Nov 16 | 1,330 | (566) | 1,896 | 335% |
| Royal Caribbean | Miami | FL | Dec 16 | 1,283 | 574 | 709 | 124% |
| Restaurant Brands Intl | Miami | FL | Dec 16 | 1,200 | 293 | 907 | 310% |
| Affiliated Managers Group | West Palm Beach | FL | Dec 16 | 975 | 152 | 823 | 541% |
| Fidelity National Financial | Jacksonville | FL | Dec 16 | 969 | (293) | 1,262 | 431% |
| Roper Technologies | Sarasota | FL | Dec 16 | 941 | 429 | 512 | 119% |
| Fidelity Natl Info Services | Jacksonville | FL | Dec 16 | 906 | 181 | 725 | 401% |
| Harris Corp | Melbourne | FL | Jun 17 | 905 | 485 | 420 | 87% |
| Wyndham Destinations | Orlando | FL | Dec 16 | 858 | (887) | 1,745 | 197% |
| Raymond James Financial | St. Petersburg | FL | Sep 16 | 812 | 383 | 429 | 112% |
| AutoNation | Fort Lauderdale | FL | Dec 16 | 702 | (1,402) | 2,104 | 150% |
| Norwegian Cruise Line | Miami | FL | Dec 16 | 640 | (212) | 852 | 402% |
| Darden Restaurants | Orlando | FL | May 17 | 637 | 513 | 124 | 24% |
| WellCare Health Plans | Tampa | FL | Dec 16 | 530 | (53) | 583 | 1100% |
| Citrix Systems | Fort Lauderdale | FL | Dec 16 | 528 | 197 | 331 | 168% |
| Mednax | Sunrise | FL | Dec 16 | 514 | 241 | 273 | 113% |
| Office Depot | Boca Raton | FL | Dec 16 | 459 | (1,580) | 2,039 | 129% |
| Brown & Brown | Daytona Beach | FL | Dec 16 | 423 | 272 | 151 | 56% |
| Spirit Airlines | Miramar | FL | Dec 16 | 419 | 34 | 385 | 1132% |
| B/E Aerospace | Wellington | FL | Dec 16 | 416 | (88) | 504 | 573% |
| Ryder System | Miami | FL | Dec 16 | 406 | 409 | (3) | -1% |
| Jabil | St. Petersburg | FL | Aug 16 | 387 | 157 | 230 | 146% |
| Watsco | Coconut Grove | FL | Dec 16 | 342 | 97 | 245 | 253% |
| BankUnited | Miami Lakes | FL | Dec 16 | 335 | (953) | 1,288 | 135% |
| ILG Inc | Miami | FL | Dec 16 | 324 | 76 | 248 | 326% |
| Tupperware Brands | Orlando | FL | Dec 16 | 301 | 202 | 99 | 49% |
| Tech Data | Clearwater | FL | Jan 17 | 257 | 178 | 79 | 44% |
| Heico | Hollywood | FL | Oct 16 | 257 | 103 | 154 | 150% |
| National Retail Properties | Orlando | FL | Dec 16 | 240 | 91 | 149 | 164% |
| Fresh Del Monte Produce | Coral Gables | FL | Dec 16 | 237 | 162 | 75 | 46% |
| TIAA FSB Holdings | Jacksonville | FL | Dec 16 | 230 | 37 | 193 | 522% |
| MasTec | Coral Gables | FL | Dec 16 | 226 | 67 | 159 | 237% |
| Rayonier | Wildlight | FL | Dec 16 | 223 | 178 | 45 | 25% |
| Marriott Vacations Worldwide | Orlando | FL | Dec 16 | 223 | 9 | 214 | 2378% |
| Landstar System | Jacksonville | FL | Dec 16 | 219 | 179 | 40 | 22% |
| Dycom Industries | Palm Beach Gardens | FL | Jul 16 | 206 | 38 | 168 | 442% |
| HSN Inc | St. Petersburg | FL | Dec 16 | 190 | (3,118) | 3,308 | 106% |
| ACI Worldwide | Naples | FL | Dec 16 | 186 | 28 | 158 | 564% |
| Regency Centers | Jacksonville | FL | Dec 16 | 167 | 119 | 48 | 40% |
| Universal Insurance Holdings | Fort Lauderdale | FL | Dec 16 | 163 | 66 | 97 | 147% |
| National Beverage | Fort Lauderdale | FL | Apr 17 | 163 | 39 | 124 | 318% |
| GEO Group | Boca Raton | FL | Dec 16 | 156 | 96 | 60 | 63% |
| World Fuel Services | Miami | FL | Dec 16 | 142 | 138 | 4 | 3% |
| Chico's FAS | Fort Myers | FL | Jan 17 | 139 | (32) | 171 | 534% |
| Masonite Intl | Tampa | FL | Dec 16 | 127 | (1,284) | 1,411 | 110% |
| Vector Group Ltd | Miami | FL | Dec 16 | 126 | 95 | 31 | 33% |
| Bluegreen Vacations | Boca Raton | FL | Dec 16 | 125 | 7 | 118 | 1686% |
| Intl Speedway | Daytona Beach | FL | Nov 16 | 124 | 217 | (93) | -43% |
| Sykes Enterprises | Tampa | FL | Dec 16 | 89 | 84 | 5 | 6% |
| SBA Communications | Boca Raton | FL | Dec 16 | 87 | (66) | 153 | 232% |
| Equity One | North Miami Beach | FL | Dec 16 | 74 | 35 | 39 | 111% |
| CenterState Bank | Winter Haven | FL | Dec 16 | 64 | 5 | 59 | 1180% |
| Bloomin Brands | Tampa | FL | Dec 16 | 56 | (966) | 1,022 | 106% |
| Seacoast Banking Corp Florida | Stuart | FL | Dec 16 | 44 | (68) | 112 | 165% |
| Ultimate Software Group | Weston | FL | Dec 16 | 41 | (4) | 45 | 1125% |
| PGT Innovations | North Venice | FL | Dec 16 | 36 | (192) | 228 | 119% |
| Helios Technologies | Sarasota | FL | Dec 16 | 35 | 38 | (3) | -8% |
| St Joe Co | Watersound | FL | Dec 16 | 23 | (63) | 86 | 137% |
| Web.com Group | Jacksonville | FL | Dec 16 | 14 | (96) | 110 | 115% |
| Faro Technologies | Lake Mary | FL | Dec 16 | 13 | 18 | (5) | -28% |
| Herc Holdings | Bonita Springs | FL | Dec 16 | (5) | (1,383) | 1,378 | 100% |
| NeoGenomics | Fort Myers | FL | Dec 16 | (7) | (1) | (6) | -600% |
| OPKO Health | Miami | FL | Dec 16 | (81) | (40) | (41) | -103% |
| Total all 66 Florida Companies | 32,108 | 167 | 31,941 | 19,126% |
