Rhode Island Companies Pretax Earnings Were Substantially Impaired, With a Total Pretax Loss of $873 Mil in the most recent Second Quarter of 2018 as compared with a Total Pretax Profit of $2.543 Bil in the Second Quarter of 2017 .................................................................................... But We’ll Still Get Our Drugs at CVS ..............................................................................

From a review of US SEC filings, there were 7 Companies effectively headquartered in Rhode Island 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 Second Quarter of 2018 and 2017 for these 7 Rhode Island Companies.

	US	US
	GAAP	GAAP
	Pretax	Pretax
	Income	Income
	(Loss)	(Loss)
	June Qtr	June Qtr	Better
	July Qtr	July Qtr	(Worse)
Rhode Island Companies	or Aug Qtr	or Aug Qtr	%
Market Caps Above $1 Bil	2018	2017	Change
	mils $	mils $
Citizens Financial Group	549	462	19%
Textron	260	215	21%
Intl Game Technology plc	247	(168)	247%
United Natural Foods	46	64
Washington Trust Bancorp	22	20
Hasbro	68	87	-22%
CVS Health	(2,065)	1,863	-211%
Total all 7 Rhode Island Companies	(873)	2,543	-134%