But the Good News is the Longer Term Perspective, Where Ohio Companies Excluding Utility Cos Had Their Total After-Tax Net Income Increase By 345% During the Entire Span of the Obama Administration From 2008, the Year Before Barack Obama Took Office, to 2016, Obama's Last Year in Office.
And the Really Good News is the Ohio Markets Which Posted Blowout Total Net Income Increases During the Obama Administration: Columbus (Up 1,366%), Toledo (Up 1,479%), Cleveland (Up 472%), Cincinnati Excluding P&G (Up an Amazing $11 Bil) and Akron Only 2 Cos (Up $2.25 Bil).
......................................................................
Back to the Bad News, All 69 Ohio Non-Oil & Gas Companies Total Pretax Earnings Declined By 10% in the Second Quarter of 2018
......................................................................
All 30 Ohio Basic Manufacturing Cos Total Pretax Earnings Declined By 6% in the Second Quarter
......................................................................
Total Pretax Income in Second Quarter of 2018 vs Second Quarter of 2017 By Ohio Market
Area:
***** 21 Cleveland Area Cos Up 24%
***** 3 Findlay Cos (2 of Them Oil & Gas Cos) Up 84%
***** 18 Columbus Area Cos Down 72%
***** 16 Cincinnati Area Cos Down 3%
***** 4 Toledo Area Cos Down 12%
***** 3 Akron Cos Down 25%
***** 2 North Canton Cos Down 393%
......................................................................From a review of US SEC filings, there were a huge number of 71 Companies effectively headquartered in Ohio with stock market caps of more than $1 Bil recently.
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 with Ohio Companies in the
most recent Second Quarter of 2018.
From a review of SEC filings, the chart below shows the Gold-Standard
US GAAP Pretax Income (Loss) From Continuing Operations for the Second Quarter
of 2018 and 2017 for these 71 Ohio Companies, shown first by key sectors.
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| June Qtr | June Qtr | Better | |
| July Qtr | July Qtr | (Worse) | |
| Ohio Companies | or Aug Qtr | or Aug Qtr | % |
| Market Caps Above $1 Bil | 2018 | 2017 | Change |
| mils $ | mils $ | ||
| Oil & Gas Cos | |||
| Marathon Petroleum Corp | 1,516 | 824 | 84% |
| MPLX LP | 457 | 193 | 137% |
| Total 2 Oil & Gas Cos | 1,973 | 1,017 | 94% |
| Basic Manufacturing Cos | |||
| Procter & Gamble | 2,289 | 2,927 | -22% |
| Eaton Corp plc | 694 | 572 | 21% |
| Parker Hannifin | 498 | 401 | 24% |
| TransDigm Group | 266 | 236 | 13% |
| Cintas | 241 | 219 | 10% |
| GrafTech Intl Ltd | 184 | (12) | 1633% |
| Goodyear Tire & Rubber | 183 | 190 | |
| JM Smucker | 173 | 189 | |
| Owens-Corning | 171 | 163 | |
| Scott's Miracle Gro | 166 | 222 | |
| Mettler-Toledo | 144 | 127 | |
| Dana Inc | 123 | 104 | |
| Nordson | 123 | 142 | |
| Timken | 122 | 74 | |
| Greif | 98 | 75 | |
| Lincoln Electric Holdings | 94 | 84 | |
| RPM Intl | 92 | 155 | |
| Owens-Illinois | 78 | 152 | |
| AK Steel | 72 | 93 | |
| Worthington Industries | 71 | 61 | |
| PolyOne | 62 | 63 | |
| Advanced Draining Systems | 48 | 28 | |
| Lancaster Colony | 44 | 43 | |
| Ferro | 40 | 30 | |
| Multi-Color | 25 | 18 | |
| Milacron Holdings | 23 | 18 | |
| Cooper Tire & Rubber | 18 | 68 | -74% |
| Materion | 14 | 9 | |
| Hyster-Yale Matl Handling | 9 | 18 | |
| Diebold Nixdorf | (163) | (60) | -172% |
| Total all 30 Manufacturing Cos | 6,002 | 6,409 | -6% |
| Cos in All Other Industries | |||
| Progressive Corp | 880 | 555 | 59% |
| Fifth Third Bancorp | 693 | 494 | 40% |
| Kroger | 628 | 540 | 16% |
| American Electric Power | 602 | 567 | 6% |
| KeyCorp | 582 | 565 | 3% |
| Sherwin-Williams | 538 | 509 | 6% |
| Huntington Bancorp | 412 | 351 | 17% |
| FirstEnergy | 382 | 351 | 9% |
| Cincinnati Financial | 264 | 128 | 106% |
| American Financial Group | 260 | 205 | 27% |
| Cleveland-Cliffs | 228 | 83 | 175% |
| Macy's | 197 | 168 | |
| Welltower | 171 | 195 | |
| L Brands | 129 | 217 | |
| Steris plc | 83 | 74 | |
| Forest City Realty Trust | 67 | 63 | |
| Applied Industrial Technologies | 60 | 46 | |
| Chemed | 58 | (38) | |
| First Financial Bancorp | 46 | 34 | |
| Wendy's | 42 | (0) | |
| Park National | 34 | 26 | |
| Cedar Fair LP | 33 | 49 | |
| Big Lots | 32 | 47 | |
| Air Transport Services Group | 30 | (48) | |
| TFS Financial | 28 | 34 | |
| Convergys | 22 | 46 | |
| Installed Building Products | 22 | 18 | |
| Medpace Holdings | 21 | 14 | |
| CBIZ | 16 | 16 | |
| Washington Prime Group | 16 | 165 | -90% |
| EW Scripps | 12 | 12 | |
| Worldpay | 11 | 121 | -91% |
| State Auto Financial | 8 | 12 | |
| Teradata | 6 | (3) | |
| Abercrombie & Fitch | (3) | (25) | |
| DDR Corp | (3) | 30 | |
| DSW Inc | (22) | 47 | -147% |
| Signet Jewelers Ltd | (67) | 122 | -155% |
| Cardinal Health | (1,187) | 374 | -417% |
| Total all 39 Cos in All Other Sectors | 5,331 | 6,164 | -14% |
| Total all 69 Non-Oil & Gas Cos | 11,332 | 12,573 | -10% |
| Total all 71 Ohio Companies | 13,305 | 13,590 | -2% |
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| June Qtr | June Qtr | Better | |
| July Qtr | July Qtr | (Worse) | |
| Ohio Companies | or Aug Qtr | or Aug Qtr | % |
| Market Caps Above $1 Bil | 2018 | 2017 | Change |
| mils $ | mils $ | ||
| Akron Area Cos | |||
| FirstEnergy | 382 | 351 | 9% |
| Goodyear Tire & Rubber | 183 | 190 | -4% |
| Signet Jewelers Ltd | (67) | 122 | -155% |
| Total 3 Akron Cos | 498 | 663 | -25% |
| Cincinnati Area Cos | |||
| Procter & Gamble | 2,289 | 2,927 | -22% |
| Fifth Third Bancorp | 693 | 494 | 40% |
| Kroger | 628 | 540 | 16% |
| Cincinnati Financial | 264 | 128 | 106% |
| American Financial Group | 260 | 205 | 27% |
| Cintas | 241 | 219 | 10% |
| Macy's | 197 | 168 | 17% |
| AK Steel | 72 | 93 | -23% |
| Chemed | 58 | (38) | 253% |
| First Financial Bancorp | 46 | 34 | |
| Multi-Color | 25 | 18 | |
| Milacron Holdings | 23 | 18 | |
| Convergys | 22 | 46 | |
| Medpace Holdings | 21 | 14 | |
| EW Scripps | 12 | 12 | |
| Worldpay | 11 | 121 | -91% |
| Total 16 Cincinnati Area Cos | 4,862 | 4,999 | -3% |
| Cleveland Area Cos | |||
| Progressive Corp | 880 | 555 | 59% |
| Eaton Corp plc | 694 | 572 | 21% |
| KeyCorp | 582 | 565 | 3% |
| Sherwin-Williams | 538 | 509 | 6% |
| Parker Hannifin | 498 | 401 | 24% |
| TransDigm Group | 266 | 236 | 13% |
| Cleveland-Cliffs | 228 | 83 | 175% |
| GrafTech Intl Ltd | 184 | (12) | 1633% |
| Nordson | 123 | 142 | |
| Lincoln Electric Holdings | 94 | 84 | |
| RPM Intl | 92 | 155 | |
| Steris plc | 83 | 74 | |
| Forest City Realty Trust | 67 | 63 | |
| PolyOne | 62 | 63 | |
| Applied Industrial Technologies | 60 | 46 | |
| Ferro | 40 | 30 | |
| TFS Financial | 28 | 34 | |
| CBIZ | 16 | 16 | |
| Materion | 14 | 9 | |
| Hyster-Yale Matl Handling | 9 | 18 | |
| DDR Corp | (3) | 30 | |
| Total 21 Cleveland Area Cos | 4,555 | 3,673 | 24% |
| Columbus Area Cos | |||
| American Electric Power | 602 | 567 | 6% |
| Huntington Bancorp | 412 | 351 | 17% |
| Scott's Miracle Gro | 166 | 222 | -25% |
| Mettler-Toledo | 144 | 127 | 13% |
| L Brands | 129 | 217 | -41% |
| Greif | 98 | 75 | |
| Worthington Industries | 71 | 61 | |
| Advanced Draining Systems | 48 | 28 | |
| Lancaster Colony | 44 | 43 | |
| Wendy's | 42 | (0) | |
| Park National | 34 | 26 | |
| Big Lots | 32 | 47 | |
| Installed Building Products | 22 | 18 | |
| Washington Prime Group | 16 | 165 | -90% |
| State Auto Financial | 8 | 12 | |
| Abercrombie & Fitch | (3) | (25) | |
| DSW Inc | (22) | 47 | -147% |
| Cardinal Health | (1,187) | 374 | -417% |
| Columbus 18 Area Cos | 656 | 2,355 | -72% |
| Findlay Area Cos | |||
| Marathon Petroleum Corp | 1,516 | 824 | 84% |
| MPLX LP | 457 | 193 | 137% |
| Cooper Tire & Rubber | 18 | 68 | -74% |
| Total 3 Findlay Cos | 1,991 | 1,085 | 84% |
| North Canton Area Cos | |||
| Timken | 122 | 74 | 65% |
| Diebold Nixdorf | (163) | (60) | -172% |
| Total 2 North Canton Cos | (41) | 14 | -393% |
| Toledo Area Cos | |||
| Owens-Corning | 171 | 163 | 5% |
| Welltower | 171 | 195 | -12% |
| Dana Inc | 123 | 104 | 18% |
| Owens-Illinois | 78 | 152 | -49% |
| Total 4 Toledo Area Cos | 543 | 614 | -12% |
| Cos in Other Areas | |||
| JM Smucker | 173 | 189 | |
| Cedar Fair LP | 33 | 49 | |
| Air Transport Services Group | 30 | (48) | |
| Teradata | 6 | (3) | |
| Total 4 Cos in Other Areas | 242 | 187 | 29% |
| Total all 71 Ohio Companies | 13,305 | 13,590 | -2% |
Now for the good news, also from a review of SEC filings, the chart below shows the Gold-Standard US GAAP Audited After-Tax Net Income (Loss) From Continuing Operations for Annual 2016, Annual 2010, Annual 2009 and Annual 2008, spanning the entire Obama Administration, for the 73 Ohio Companies which reported both their 2016 and 2008 After-Tax Net Income (Loss) to the SEC and also had stock market caps or total equity of more than $1 Bil. The below information is presented alphabetically by Ohio Market, thus paying due homage to LaBron James.
| Year | |||||||
| Before | |||||||
| Obama | Obama | Obama | Obama | ||||
| Last | Second | First | First | ||||
| Year | Year | Year | Year | ||||
| in | in | in | in | ||||
| Office | Office | Office | Office | ||||
| 2016 | 2010 | 2009 | 2008 | ||||
| Audited | Audited | Audited | Audited | ||||
| Net | Net | Net | Net | ||||
| Ohio Non-Utility Cos By Market | City | State | 2016 | Income | Income | Income | Income |
| Market Caps Above $1 Bil | HQs | HQs | FYE | (Loss) | (Loss) | (Loss) | (Loss) |
| $ mils | $ mils | $ mils | $ mils | ||||
| Akron Cos | |||||||
| Goodyear Tire & Rubber | Akron | OH | Dec16 | 1,284 | (164) | (364) | (23) |
| Signet Jewelers Ltd | Akron | OH | Jan17 | 543 | 200 | 157 | (403) |
| Total 2 Akron Cos | 1,827 | (207) | (426) | ||||
| ….. $ mils Increase 2016 Above 2008 | 2,253 | ||||||
| Cincinnati Area Cos | |||||||
| Procter & Gamble (P&G) | Cincinnati | OH | Jun17 | 10,194 | 11,523 | 10,573 | 10,414 |
| Kroger | Cincinnati | OH | Jan17 | 1,957 | 1,133 | 57 | 1,250 |
| Fifth Third Bancorp | Cincinnati | OH | Dec16 | 1,560 | 753 | 737 | (2,113) |
| American Financial Group | Cincinnati | OH | Dec16 | 668 | 426 | 534 | 186 |
| Macy's | Cincinnati | OH | Jan17 | 611 | 847 | 329 | (4,775) |
| Cincinnati Financial | Fairfield | OH | Dec16 | 591 | 377 | 432 | 429 |
| Cintas Corp | Cincinnati | OH | May17 | 457 | 247 | 216 | 226 |
| Vantiv | Symmes Township | OH | Dec16 | 281 | 55 | 89 | 153 |
| Convergys Corp | Cincinnati | OH | Dec16 | 133 | (75) | 85 | 147 |
| Chemed Corp | Cincinnati | OH | Dec16 | 109 | 82 | 74 | 68 |
| First Financial Bancorp | Cincinnati | OH | Dec16 | 89 | 59 | 221 | 23 |
| Multi-Color Corp | Batavia | OH | Mar17 | 61 | 18 | 14 | 11 |
| AK Steel Holding Corp | West Chester | OH | Dec16 | 58 | (131) | (78) | 5 |
| Milacron Holdings Corp | Cincinnati | OH | Dec16 | 31 | 16 | N/A | (26) |
| Total 13 Cincinnati Area Cos (No P&G) | 6,606 | 2,710 | (4,416) | ||||
| ….. $ mils Increase 2016 Above 2008 | 11,022 | ||||||
| Total 14 Cincinnati Area Cos | 16,800 | 13,283 | 5,998 | ||||
| ….. % Increase 2016 Above 2008 | 180% | ||||||
| Cleveland Area Cos | |||||||
| Eaton Corp plc | Cleveland | OH | Dec16 | 1,925 | 937 | 385 | 1,067 |
| Sherwin-Williams | Cleveland | OH | Dec16 | 1,133 | 462 | 436 | 477 |
| Progressive Corp | Mayfield Village | OH | Dec16 | 1,057 | 1,068 | 1,058 | (70) |
| Parker Hannifin | Cleveland | OH | Jun17 | 984 | 1,057 | 556 | 510 |
| KeyCorp | Cleveland | OH | Dec16 | 789 | 607 | (1,263) | (1,287) |
| TransDigm Group | Cleveland | OH | Sep16 | 586 | 163 | 163 | 133 |
| Nordson Corp | Westlake | OH | Oct16 | 272 | 168 | (160) | 118 |
| Cliffs Natural Resources | Cleveland | OH | Dec16 | 219 | 997 | 198 | 504 |
| Lincoln Electric Holdings | Cleveland | OH | Dec16 | 198 | 132 | 49 | 213 |
| RPM Intl | Medina | OH | May17 | 185 | 203 | 181 | 120 |
| PolyOne Corp | Avon Lake | OH | Dec16 | 165 | 163 | 107 | (417) |
| Applied Industrial Technologies | Cleveland | OH | Jun17 | 134 | 97 | 66 | 42 |
| STERIS Corp | Mentor | OH | Mar17 | 111 | 51 | 128 | 111 |
| TFS Financial Corp | Cleveland | OH | Sep16 | 81 | 11 | 14 | 54 |
| Ferro Corp | Mayfield Heights | OH | Dec16 | 45 | 15 | (18) | (123) |
| Hyster-Yale Materials Handling | Cleveland | OH | Dec16 | 42 | 32 | (43) | (376) |
| CBIZ | Cleveland | OH | Dec16 | 41 | 28 | 32 | 32 |
| Materion | Mayfield Heights | OH | Dec16 | 26 | 46 | (12) | 18 |
| Chart Industries Inc | Garfield Heights | OH | Dec16 | 25 | 21 | 61 | 79 |
| DDR Corp | Beachwood | OH | Dec16 | (12) | (194) | (228) | (53) |
| GrafTech Intl Ltd | Brooklyn Heights | OH | Dec16 | (109) | 175 | 16 | 184 |
| Fairmount Santrol Holdings | Chesterland | OH | Dec16 | (140) | 100 | 50 | N/A |
| Forest City Realty Trust | Cleveland | OH | Dec16 | (201) | 58 | (11) | (110) |
| A Schulman Inc | Fairlawn | OH | Aug16 | (358) | 44 | 12 | 32 |
| Total 24 Cleveland Area Cos | 7,198 | 1,777 | 1,258 | ||||
| ….. % Increase 2016 Above 2008 | 472% | ||||||
| Columbus Area Cos | |||||||
| Cardinal Health | Dublin | OH | Jun17 | 1,294 | 966 | 587 | 758 |
| L Brands | Columbus | OH | Jan17 | 1,158 | 805 | 448 | 216 |
| Nationwide Life Insurance | Columbus | OH | Dec16 | 778 | 180 | 259 | (887) |
| Huntington Bancshares | Columbus | OH | Dec16 | 712 | 312 | (3,094) | (114) |
| Mettler-Toledo Intl | Columbus | OH | Dec16 | 384 | 232 | 173 | 203 |
| Worthington Industries | Columbus | OH | May17 | 218 | 124 | 52 | (104) |
| Big Lots | Columbus | OH | Jan17 | 153 | 223 | 201 | 155 |
| Wendys | Dublin | OH | Dec16 | 130 | 18 | 5 | (128) |
| DSW Inc | Columbus | OH | Jan17 | 125 | 108 | 55 | 27 |
| Lancaster Colony Corp | Columbus | OH | Jun16 | 115 | 106 | 115 | 89 |
| Park National Corp | Newark | OH | Dec16 | 86 | 74 | 74 | 14 |
| Washington Prime Group | Columbus | OH | Dec16 | 77 | 150 | 146 | 169 |
| Greif Inc | Delaware | OH | Oct16 | 76 | 215 | 114 | 247 |
| E.W. Scripps | Cincinnati | OH | Dec16 | 67 | 29 | (199) | (559) |
| Advanced Drainage Systems | Hilliard | OH | Mar17 | 36 | 9 | 58 | 14 |
| State Auto Financial Corp | Columbus | OH | Dec16 | 21 | 25 | 10 | (31) |
| Bob Evans Farms Inc | New Albany | OH | Apr17 | 17 | 54 | 70 | (5) |
| Abercrombie & Fitch Co | New Albany | OH | Jan17 | 8 | 150 | 79 | 308 |
| Total 18 Columbus Area Cos | 5,455 | (847) | 372 | ||||
| ….. % Increase 2016 Above 2008 | 1366% | ||||||
| ….. $ mils Increase 2016 Above 2009 | 6,302 | ||||||
| Findlay Cos | |||||||
| Marathon Petroleum | Findlay | OH | Dec16 | 1,213 | 623 | 449 | 1,215 |
| MPLX LP | Findlay | OH | Dec16 | 258 | 103 | 122 | 124 |
| Cooper Tire & Rubber | Findlay | OH | Dec16 | 251 | 140 | 115 | (228) |
| Total 3 Findlay Cos | 1,722 | 686 | 1,111 | ||||
| ….. % Increase 2016 Above 2009 | 151% | ||||||
| Toledo Area Cos | |||||||
| Welltower Inc | Toledo | OH | Dec16 | 718 | 84 | 149 | 129 |
| Dana Holding Corp | Maumee | OH | Dec16 | 653 | 36 | (260) | (656) |
| Owens Corning | Toledo | OH | Dec16 | 399 | 940 | 67 | (811) |
| Owens-Illinois | Perrysburg | OH | Dec16 | 237 | 295 | 132 | 225 |
| Andersons Inc | Maumee | OH | Dec16 | 14 | 65 | 40 | 30 |
| Total 5 Toledo Area Cos | 2,021 | 128 | (1,083) | ||||
| ….. % Increase 2016 Above 2009 | 1479% | ||||||
| Cos in Other Areas | |||||||
| JM Smucker | Orrville | OH | Apr17 | 592 | 479 | 494 | 266 |
| Scotts Miracle-Gro | Marysville | OH | Sep16 | 253 | 212 | 155 | 33 |
| Cedar Fair LP | Sandusky | OH | Dec16 | 178 | (32) | 35 | 6 |
| Timken | North Canton | OH | Dec16 | 153 | 270 | (66) | 283 |
| Teradata Corp | Dayton | OH | Dec16 | 125 | 301 | 254 | 250 |
| Air Transport Services Group | Wilmington | OH | Dec16 | 21 | 40 | 28 | (63) |
| Diebold Nixdorf | North Canton | OH | Dec16 | (171) | (17) | 79 | 115 |
| Total 7 Cos in Other Areas | 1,151 | 979 | 890 | ||||
| ….. % Increase 2016 Above 2008 | 29% | ||||||
| Total all 73 Ohio Companies | 36,174 | 29,126 | 15,799 | 8,120 | |||
| Total Net Income % Increase Over Preceding Year | 84% | 95% | |||||
| Total Net Income % Increase 2016 Over 2008 | 345% |
