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 5 South Dakota Companies.
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| 6 Months | 6 Months | ||
| Ended | Ended | ||
| June | June | Better | |
| July | July | (Worse) | |
| South Dakota Companies | or Aug | or Aug | % |
| Market Caps Above $1 Bil | 2018 | 2017 | Change |
| mils $ | mils $ | ||
| Black Hills | 147 | 153 | |
| Great Western Bancorp | 117 | 106 | |
| Northwestern Corp | 107 | 85 | |
| Meta Financial Group | 45 | 52 | |
| Raven Industries | 44 | 30 | |
| Total all 5 South Dakota Companies | 460 | 426 | 8% |