For a Longer-Term Perspective, Mississippi Companies Had Their Total Pretax Earnings Increase By 2,528% During the Obama Administration, Going From a Total Pretax Income of $32 Mil in 2008, One Year Before Obama Took Office, to $841 Mil in 2016, Obama's Last Year in Office
......................................................................
From
a review of US SEC filings, there were 8 Companies headquartered in Mississippi
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
Quarter of 2018 and 2017 for these 8 Mississippi Companies.
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| June Qtr | June Qtr | % | |
| July Qtr | July Qtr | Change | |
| Mississippi Companies | or Aug Qtr | or Aug Qtr | Better |
| Market Caps Above $1 Bil | 2018 | 2017 | (Worse) |
| mils $ | mils $ | ||
| Hancock Whitney | 87 | 69 | |
| BancorpSouth Bank | 67 | 57 | |
| Callon Petroleum | 51 | 34 | |
| Renasant Corp | 47 | 37 | |
| Trustmark Corp | 46 | 30 | |
| East Group Properties | 18 | 37 | |
| Cal-Maine Foods | 16 | (25) | |
| Sanderson Farms | 15 | 177 | |
| Total all 8 Mississippi Companies | 347 | 416 | -17% |
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 8 Mississippi Companies which reported both their 2016 and 2008 Pretax Income (Loss) to the SEC.
| Obama | Bush | ||||||
| Last | Last | ||||||
| Year | Year | ||||||
| in | in | ||||||
| Office | Office | ||||||
| 2016 | 2008 | ||||||
| Audited | Audited | ||||||
| Pretax | Pretax | ||||||
| Income | Income | ||||||
| (Loss) | (Loss) | Better | |||||
| From | From | (Worse) | |||||
| Mississippi Companies | City | State | 2016 | Continuing | Continuing | Better | % |
| Stock Market Caps Above $1 Bil | HQs | HQs | FYE | Operations | Operations | (Worse) | Change |
| $ mils | $ mils | $ mils | |||||
| Sanderson Farms | Laurel | MS | Oct 16 | 293 | (74) | 367 | 496% |
| BancorpSouth Bank | Tupelo | MS | Dec 16 | 196 | 174 | 22 | 13% |
| Hancock Whitney | Gulfport | MS | Dec 16 | 187 | 87 | 100 | 115% |
| Trustmark Corp | Jackson | MS | Dec 16 | 139 | 136 | 3 | 2% |
| Renasant Corp | Tupelo | MS | Dec 16 | 136 | 33 | 103 | 312% |
| East Group Properties | Ridgeland | MS | Dec 16 | 96 | 33 | 63 | 191% |
| Callon Petroleum | Natchez | MS | Dec 16 | (92) | (478) | 386 | 81% |
| Cal-Maine Foods | Jackson | MS | May 17 | (114) | 121 | (235) | -194% |
| Total all 8 Mississippi Cos | 841 | 32 | 809 | 2528% |
