Thursday, October 18, 2018

Maine’s 2 Large Companies Pretax Earnings On Fire, Increase By 34% in the Second Quarter 2018 and By 31% in the First Quarter 2018. It’s pretty clear that to function much better, the US Congress needs many more Independents like Angus King. ...............................................................................


From a review of US SEC filings, there were 2 Companies headquartered in Maine 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 Second and First Quarters of both 2018 and 2017 for these 2 Maine 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
Maine 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 $
Idexx Labs                 137                 115 19%             104              85 22%
WEX Inc                   53                   27 96%               65              44 48%
Total both Maine Companies                 190                 142 34%             169            129 31%