On the positive side from a historic perspective, Pennsylvania Companies posted 251% Total Pretax Earnings Growth during the Obama Administration from 2009 to 2016, which is discussed in the below link:
Pennsylvania Companies Earnings Up 251% During the Obama Administration
...................................................................... From a review of US SEC filings, there were the huge number of 89 Companies effectively headquartered in Pennsylvania with stock market caps of more than $1 Bil several months ago.
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 First Half of
2018 and 2017 for these fine 89 Pennsylvania Companies.
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| 6 Months | 6 Months | ||
| Ended | Ended | ||
| June | June | Better | |
| July | July | (Worse) | |
| Pennsylvania Companies | or Aug | or Aug | % |
| Market Caps Above $1 Bil | 2018 | 2017 | Change |
| mils $ | mils $ | ||
| Pittsburgh Area Cos | |||
| PNC Financial Services | 3,152 | 2,877 | 10% |
| Kraft-Heinz | 2,300 | 2,840 | -19% |
| PPG Industries | 900 | 1,105 | -19% |
| Alcoa | 822 | 655 | 25% |
| CNX Resources | 789 | 41 | 1806% |
| EQT Midstream Partners LP | 383 | 282 | |
| Dick's Sporting Goods | 246 | 263 | |
| United States Steel | 245 | 84 | 192% |
| F N B Corp | 214 | 133 | |
| Westinghouse Air Brake Tech | 208 | 196 | |
| Ansys | 207 | 186 | |
| Kennametal | 166 | 82 | |
| Allegheny Technologies | 146 | 34 | |
| CONSOL Energy | 133 | 118 | |
| Federated Investors | 131 | 168 | |
| American Eagle Outfitters | 128 | 69 | |
| WESCO INTL | 126 | 116 | |
| MSA Safety | 85 | 28 | |
| II-VI Inc | 65 | 63 | |
| CNX Midstream Partners LP | 64 | 63 | |
| Matthews Intl | 49 | 59 | |
| Mylan NV | 29 | 396 | -93% |
| Evoqua Water Technologies | 17 | 14 | |
| EQT Corp | (1,749) | 504 | -447% |
| Total all 24 Pittsburgh Area Cos | 8,856 | 10,377 | -15% |
| Philadelphia Area Cos | |||
| Comcast Corp | 8,279 | 7,826 | 6% |
| Chubb | 2,729 | 2,726 | 0% |
| TE Connectivitity Ltd | 1,135 | 948 | 20% |
| Lincoln National | 886 | 1,008 | -12% |
| AmerisourceBergen | 706 | 726 | |
| Universal Health Services | 598 | 612 | |
| UGI Corp | 520 | 358 | |
| Ametek | 484 | 394 | |
| FMC Corp | 472 | 106 | 345% |
| Toll Brothers | 406 | 403 | |
| Crown Holdings | 354 | 380 | |
| Radian Group | 323 | 79 | 309% |
| SEI Investments | 313 | 264 | |
| Trinseo SA | 264 | 226 | |
| Essent Group Ltd | 255 | 186 | |
| Vishay Intertechnology | 190 | 126 | |
| Axalta Coating Systems Ltd | 182 | 67 | |
| Urban Outfitters | 173 | 98 | |
| Aramark | 139 | 187 | |
| Amerigas Partners LP | 121 | 92 | |
| West Pharmaceuticals Svcs | 118 | 105 | |
| Aqua America | 115 | 119 | |
| Kulicke and Soffa Industries | 109 | 55 | |
| EPAM Systems | 105 | 72 | |
| Globus Medical | 98 | 82 | |
| Carpenter Technology | 92 | 67 | |
| Dorman Products | 83 | 90 | |
| CubeSmart | 74 | 58 | |
| Hamilton Lane | 74 | 46 | |
| Teleflex | 68 | 128 | |
| Liberty Property Trust | 59 | 83 | |
| Brandywine Realty Trust | 58 | 28 | |
| Five Below | 57 | 40 | |
| Quaker Chemical | 41 | 32 | |
| Knoll | 39 | 41 | |
| Nutri System | 36 | 45 | |
| Spark Therapeutics | 34 | (128) | |
| Healthcare Services Group | 32 | 65 | |
| PQ Group Holdings | 30 | (4) | |
| Beneficial Bancorp | 28 | 26 | |
| BioTelemetry | 14 | 2 | |
| Madrigal Pharmaceuticals | (13) | (14) | |
| Entercom Communications | (16) | (11) | |
| FS Investment Corp | (18) | 82 | -122% |
| BrightView Holdings | (30) | (22) | |
| Triumph Group | (383) | (143) | -168% |
| Endo Intl plc | (528) | (931) | 43% |
| Total all 47 Philadelphia Area Cos | 18,905 | 16,825 | 12% |
| Cos Outside Philly and Pitt | |||
| PPL Corp (Giant Utility Co) | 1,226 | 900 | 36% |
| Air Products & Chemicals | 1,032 | 601 | 72% |
| Hershey | 709 | 449 | 58% |
| Gaming&Leisure Properties | 192 | 195 | |
| Erie Indemnity Co | 184 | 162 | |
| Select Medical Holdings | 138 | 121 | |
| Penn National Gaming | 130 | 30 | |
| EnerSys | 117 | 106 | |
| Armstrong World Industries | 114 | 126 | |
| Fulton Financial | 95 | 112 | |
| Harsco | 72 | 48 | |
| Ollie's Bargain Outlet | 70 | 54 | |
| First Commonwealth Financial | 68 | 43 | |
| Northwest Bancshares | 65 | 71 | |
| S&T Bancorp | 57 | 56 | |
| Weis Markets | 48 | 49 | |
| Rite Aid | (510) | 258 | -298% |
| Dentsply Sirona | (1,067) | (988) | |
| Total all 17 Cos Outside Philly and Pitt (No PPL) | 1,514 | 1,493 | 1% |
| Total all 18 Cos Outside of Philly and Pitt | 2,740 | 2,393 | 14% |
| Total all 89 Pennsylvania Cos | 30,501 | 29,595 | 3% |
