Thursday, October 4, 2018

Minnesota Health Care-Related Companies Earnings on Fire With Total Earnings Growth Accelerating From Up 6% in 2015, to Up Another 10% in 2016 and to Up Another 15% in 2017 During the Terms of Minnesota Governor Mark Dayton, Very Accomplished Minnesota Lieutenant Governor Tina Smith and Also Very Accomplished Minnesota US Senator Amy Klobuchar ....................................................................................... On the Other Hand, the Minnesota Non-Health Care-Related Companies Earnings Declined By 5% in 2017, Trump's First Year in Office, vs Down By a Lower 1% in 2016 .......................................................................................

Research Minnesota US Senator Tina Smith’s background ….. What an incredibly accomplished person!

In very recent times, Tina Smith served as Minnesota Lieutenant Governor from 2015 to 2017 and then US Senator at the beginning of 2018 to now.

During her 3 years as Minnesota’s Lieutenant Governor, Minnesota Health Care-Related Companies Total Pretax Earnings were not just on fire but their earnings growth accelerated sharply.

Of the 42 Minnesota Cos with stock market caps of more than $1 bil or equivalent, only 6 of them are Health Care-Related Cos, but they comprised 47% of the 2017 Total Pretax Income of all 42 Minnesota Cos, but then that only makes sense since the renown Mayo Clinic is in Minnesota.

From a review of SEC filings, Minnesota Health Care-Related Companies Generated 6% Pretax Income Growth in 2015, which accelerated to 10% Pretax Income Growth in 2016 and which accelerated to an even more pronounced 15% Pretax Income Growth in 2017.

On the other hand, the 36 Minnesota Non-Health Care-Related Cos had their Total Pretax Income declined by 5% in 2017, Trump’s first year in office.  In 2016, this Pretax Income declined by only 1%.

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 2014 through 2017 for these 42 Minnesota Companies.
Year Year Year Year
2017 2016 2015 2014
Audited Audited Audited Audited
Pretax Pretax Pretax Pretax
Income Income Income Income
(Loss) (Loss) (Loss) (Loss)
From From From From
Minnesota Companies City State 2017 Continuing Continuing Continuing Continuing
Stock Market Caps Above $1 Bil HQs HQs FYE Operations Operations Operations Operations
 $ mils  $ mils  $ mils  $ mils
Health Care-Related Companies
UnitedHealth Group Minneapolis MN Dec 17            14,023            11,863            10,231              9,656
3M Saint Paul MN Dec 17              7,548              7,053              6,823              7,026
Medtronic plc Minneapolis MN Apr 18              5,675              4,602              4,336              3,486
Patterson Cos Saint Paul MN Apr 18                 179                 251                 302                 274
Bio-Techne Minneapolis MN Jun 18                 126                 112                 147                 154
Cardiovascular Systems Saint Paul MN Jun 18                     2                   (2)                 (56)                 (33)
Total all 6 Health Care Companies
            27,553            23,879            21,783            20,563
………. % Increase From Preceding Year
 15% 10% 6%
Non-Health Care Related Companies
US Bancorp Minneapolis MN Dec 17              7,517              8,105              8,030              7,995
Target Minneapolis MN Jan 18              3,646              3,965              4,923              3,653
Travelers Companies Saint Paul MN Dec 17              2,730              4,053              4,740              5,089
General Mills Minneapolis MN May 18              2,220              2,356              2,492              1,846
Ameriprise Financial Minneapolis MN Dec 17              2,214              1,592              2,142              2,547
Best Buy Richfield MN Jan 18              1,817              1,816              1,310              1,387
Ecolab Saint Paul MN Dec 17              1,765              1,650              1,318              1,698
XCEL Energy Minneapolis MN Dec 17              1,690              1,704              1,527              1,545
Hormel Foods Austin MN Oct 17              1,279              1,317              1,057                 922
Allianz Life Insurance North America Minneapolis MN Dec 17                 923              1,143                 843                 180
Fastenal Winona MN Dec 17                 873                 790                 826                 787
CH Robinson Worldwide Eden Prairie MN Dec 17                 728                 812                 823                 723
Pentair plc Golden Valley MN Dec 17                 489                 561                 513                 471
Mosaic Plymouth MN Dec 17                 391                 227              1,101              1,215
Toro Co Bloomington MN Oct 17                 353                 330                 291                 256
Graco Minneapolis MN Dec 17                 347                   97                 475                 315
Donaldson Co Minneapolis MN Jul 17                 322                 257                 289                 361
Polaris Industries Medina MN Dec 17                 319                 313                 686                 699
nVent Electric plc St. Louis Park MN Dec 17                 313                 315                 266                 277
Deluxe Shoreview MN Dec 17                 313                 340                 328                 297
TCF Financial Wayzata MN Dec 17                 245                 338                 315                 281
ALLETE Duluth MN Dec 17                 187                 176                 167                 162
Apogee Enterprises Minneapolis MN Feb 18                 110                 123                   97                   65
Otter Tail Fergus Falls MN Dec 17                   99                   82                   80                   73
Sleep Number Minneapolis MN Dec 17                   91                   76                   75                 102
SUPERVALU Inc Eden Prairie MN Feb 18                   77                   20                   53                   12
Proto Labs Maple Plain MN Dec 17                   74                   64                   68                   61
HB Fuller Saint Paul MN Nov 17                   67                 175                 144                   84
Capella Education Minneapolis MN Dec 17                   46                   68                   70                   67
SPS Commerce Minneapolis MN Dec 17                     9                     9                     7                     4
Tennant Minneapolis MN Dec 17                   (1)                   66                   50                   70
Northern Oil & Gas Minnetonka MN Dec 17                 (11)               (295)            (1,178)                 263
Piper Jaffray Minneapolis MN Dec 17                 (29)                 (31)                   86                 110
Stratasys Ltd Eden Prairie MN Dec 17                 (31)                 (87)            (1,384)               (155)
Ceridian HCM Holding Minneapolis MN Dec 17                 (55)                 (92)                 (80)
 N/A 
CHS Inc Inner Grove Heights MN Aug 17                 (55)                 420                 768              1,131
Total all 36 Non-Health Care Cos
            31,072            32,855            33,318            34,593
………. % Decline From Preceding Year
 -5% -1% -4%
Total all 42 Minnesota Companies            58,625            56,734            55,101            55,156






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