Sunday, October 7, 2018

Maryland Companies Earnings Up a Very Robust 19% in 2016, Obama's Last Year in Office. Then in 2017, Trump's First Year in Office, These Same Maryland Companies Earnings Hit the Skids, Down By 6% in 2017 ......................................................................................

From a review of US SEC filings, there were 39 Companies headquartered in Maryland with stock market caps of more than $1 bil recently.

These fine 39 Maryland Cos posted Audited Gold-Standard US GAAP Total Pretax Income From Continuing Operations Which Declined By 6% in Fiscal Year Ended (FYE) 2017 from their similar Total Pretax Income in FYE 2016. 

This 6% Earnings Decline in 2017 was a sharp earnings growth reversal.

In 2016 in Obama’s last year in office, these same 39 Maryland Cos posted Audited Total Pretax Income From Continuing Operations Which Increased By a Very Robust 19% from their similar Total Pretax Income in FYE 2015.

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 Maryland Cos in 2017.

It’s clear to me why Obama is now respected by many Maryland financially savvy citizens.

My Focus is on Pretax Income Rather Than 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, 2016 and 2015 for the 39 Maryland Companies with stock market caps above $1 bil recently.
Trump Obama
First Last Obama
Year Year Year
2017 2016 2015
Audited Audited Audited
Pretax Pretax Pretax
Income Income Income
(Loss) (Loss) (Loss)
  From From From
Maryland Companies City State 2017 Continuing Continuing Continuing
Stock Market Caps Above $1 Bil HQs HQs FYE Operations Operations Operations
 $ mils  $ mils  $ mils
Lockheed Martin Bethesda MD Dec 17                5,269                4,886                4,299
Marriott Intl Bethesda MD Dec 17                2,836                1,184                1,255
T Rowe Price Baltimore MD Dec 17                2,505                1,961                2,002
AGNC Investment Corp Bethesda MD Dec 17                   771                   623                   215
United Therapeutics Silver Spring MD Dec 17                   770                1,060                1,044
Host Hotels & Resorts Bethesda MD Dec 17                   651                   811                   574
McCormick & Co Sparks MD Nov 17                   595                   589                   496
Sinclair Broadcasting Group Hunt Valley MD Dec 17                   519                   373                   234
Federal Realty Investment Trust Rockville MD Dec 17                   298                   259                   218
Legg Mason Baltimore MD Mar 18                   234                   371                    (25)
Walker & Dunlop Bethesda MD Dec 17                   234                   186                   135
Choice Hotels Intl Rockville MD Dec 17                   224                   200                   184
WR Grace Columbia MD Dec 17                   211                   166                   194
LaSalle Hotel Properties Bethesda MD Dec 17                   197                   259                   135
Eagle Bancorp Bethesda MD Dec 17                   186                   159                   135
Ciena Hanover MD Oct 17                   156                     87                     24
US Silica Holdings Frederick MD Dec 17                   137                    (78)                       0
Emergent BioSolutions Gaithersburg MD Dec 17                   119                     99                   136
RLJ Lodging Trust Bethesda MD Dec 17                   109                   164                   152
Omega Healthcare Investors Hunt Valley MD Dec 17                   108                   385                   235
Diamondrock Hospitality Bethesda MD Dec 17                   102                   127                     97
Supernus Pharmaceuticals Rockville MD Dec 17                   101                     50                     15
Pebblebrook Hotel Trust Bethesda MD Dec 17                   100                     74                     98
Sandy Spring Bancorp Olney MD Dec 17                     88                     72                     67
Corporate Office Properties Trust Columbia MD Dec 17                     68                    (25)                   121
Saul Centers Bethesda MD Dec 17                     61                     57                     53
Medifast Owings Mills MD Dec 17                     40                     27                     30
Inovalon Holdings Bowie MD Dec 17                     33                     39                   115
Hannon Armstrong Susu Infrastr Capital Annapolis Junction MD Dec 17                     32                     15                       8
Laureate Education Baltimore MD Dec 17                     27                   431                  (198)
Under Armour Baltimore MD Dec 17                    (10)                   388                   387
Colfax Annapolis Junction MD Dec 17                    (12)                   207                   218
2U Inc Lanham MD Dec 17                    (31)                    (21)                    (27)
Regenxbio Rockville MD Dec 17                    (73)                    (63)                    (23)
JBG Smith Properties Chevy Chase MD Dec 17                    (89)                     63                     50
Discovery Inc Silver Spring MD Dec 17                  (137)                1,671                1,559
WillScot Baltimore MD Dec 17                  (165)                    (88)                  (103)
TerraForm Power Bethesda MD Dec 17                  (256)                  (241)                  (221)
Quality Care Properties Bethesda MD Dec 17                  (441)                     99                   114
Total all 39 Maryland Companies              15,567              16,626              14,002
Trump's First Year 2017
….. Pretax Income % Decrease 2017 vs 2016 -6%
Obama's Last Year 2016
….. Pretax Income % Increase 2016 vs 2015 19%
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