Thursday, January 10, 2019

All 346 US Basic Manufacturing Companies With Stock Market Caps Above $1 Bil ((334 of Them With December Fiscal Year Ends (FYEs), 8 With January FYEs and 4 With February FYEs)) Total Audited Pretax Earnings Increased By 7% in 2016 and Then Declined By 3% in 2017

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Then in 2018, the Total Pretax Earnings of These 346 US Basic Manufacturing Companies Dropped Precipitously:

**** First 9 Months 2018 Total Pretax Income Down By 13%
**** Third Quarter 2018 Total Pretax Income Down By 52%  

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From a review of SEC filings, I found 473 US Basic Manufacturing Companies with stock market caps sometime in 2018 of more than $1 Bil.

I define the key US Basic Manufacturing Companies as all US Companies with Standard Industrial Classification Codes (SICs) in the 2000s and 3000s filing with the US SEC excluding all clearly Oil & Gas Companies, all clearly Technology Companies all clearly Health Care Companies and all clearly dominantly US Defense Contractors.  There were also several of them which were
 clearly US Manufacturing Companies with SICs not in the 2000s and 3000s that I included in these 473 US Basic Manufacturing Companies.  

Of these 473 US Basic Manufacturing Companies, 346 or 73% of them have either December, January or February fiscal year ends and thus have Audited Financial Statements earnings amounts for Annual 2017, 2016 and 2015.  Of these 346 Companies, 334 or 97% of them have December Fiscal Year Ends.

My Focus is on Pretax Income rather than on After-Tax Net Income because Corporate 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.

The Audited Annual 2016 (12 Months Ended December 2016, January 2017 and February 2017), which was overwhelmingly immediately before the Trump Administration took office, showed a respectable 7% total pretax earnings growth over the Audited Annual 2015 for these 346 US Basic Manufacturing Companies.

Then in 2017, the Trump Administration's first year in office, these Audited Annual Total Pretax Earnings reversed course and declined by 3% from the Audited Annual Total Pretax Earnings Growth of 7% in 2016.


The first chart below shows the Gold-Standard US GAAP Audited Total Pretax Income (Loss) From Continuing Operations for Annual 2017, 2016 and 2015 for each of these stellar 346 US Basic Manufacturing Companies with December, January or February Fiscal Year Ends.

Annual
Annual
Annual
Annual
2017
2016
2016
2015
Audited 
Audited 
Audited 
Audited 
US
US
US
US
GAAP
GAAP
GAAP
GAAP
Pretax
Pretax
Pretax
Pretax
Income
Income
Income
Income
(Loss)
(Loss)
(Loss)
(Loss)
Fiscal
Fiscal
Fiscal
Fiscal
Most
Year
Year
Year
Year
Recent
Ended
Ended
Ended
Ended
Audited
Dec 17
Dec 16
Dec 16
Dec 15
US
US Basic Manufacturing Cos
FYE
Jan 18
Jan 17
Jan 17
Jan 16
State
Dec, Jan or Feb FYEs
Fincl
or
or
%
or
or
%
HQs
Market Caps Above $1 Bil
Sts
Feb 18
Feb 17
Change
Feb 17
Feb 16
Change

mils $
mils $
mils $
mils $
MI General Motors Dec 17     11,863     12,008 -1%     12,008       8,371 43%
NY Philip Morris Dec 17     10,648     10,018 6%     10,018       9,720 3%
WA Boeing Dec 17     10,047       5,568 80%       5,568       7,155 -22%
 VA  Altria Group Dec 17       9,828     21,852 -55%     21,852       8,078 171%
NY PepsiCo Dec 17       9,602       8,553 12%       8,553       7,442 15%
MI Ford Motor Dec 17       8,148       6,796 20%       6,796     10,252 -34%
CT United Technologies Dec 17       7,763       7,133 9%       7,133       6,467 10%
MN 3M Dec 17       7,548       7,053 7%       7,053       6,823 3%
NJ Honeywell Dec 17       6,902       6,447 7%       6,447       6,586 -2%
GA Coca-Cola Dec 17       6,742       8,136 -17%       8,136       9,605 -15%
PA Kraft-Heinz Dec 17       5,530       5,023 10%       5,023       1,013 396%
 TX  LyondellBasell Industries Dec 17       5,493       5,233 5%       5,233       6,209 -16%
IL Caterpillar Dec 17       4,098          133 2981%          133       3,439 -96%
IL Mondelez Intl Dec 17       3,624       1,798 102%       1,798       7,884 -77%
NY Colgate Palmolive Dec 17       3,487       3,738 -7%       3,738       2,763 35%
 OH  Eaton Corp plc Dec 17       3,368       2,118 59%       2,118       2,133 -1%
IL Illinois Tool Works Dec 17       3,270       2,908 12%       2,908       2,719 7%
TX Kimberly Clark Dec 17       3,095       3,141 -1%       3,141       1,484 112%
DC Danaher Dec 17       2,939       2,611 13%       2,611       2,039 28%
MI Dow Chemical Dec 17       2,799       4,413 -37%       4,413       9,930 -56%
IN Cummins Dec 17       2,365       1,930 23%       1,930       2,025 -5%
NY Constellation Brands Feb 18       2,343       2,093 12%       2,093       1,501 39%
CT Praxair Dec 17       2,334       2,089 12%       2,089       2,203 -5%
WA Paccar Dec 17       2,173       1,130 92%       1,130       2,337 -52%
PA PPG Industries Dec 17       2,005          779 157%          779       1,745 -55%
MN Ecolab Dec 17       1,765       1,650 7%       1,650       1,318 25%
NC Nucor Corp Dec 17       1,750       1,299 35%       1,299          242 437%
MI Kellogg Dec 17       1,681          928 81%          928          773 20%
NY Corning Inc Dec 17       1,657       3,692 -55%       3,692       1,486 148%
IL Archer Daniels Midland Dec 17       1,609       1,822 -12%       1,822       2,284 -20%
MI Lear Corp Dec 17       1,578       1,411 12%       1,411       1,081 31%
 OH  Sherwin-Williams Dec 17       1,528       1,595 -4%       1,595       1,549 3%
CT Stanley Black & Decker Dec 17       1,526       1,226 24%       1,226       1,151 7%
NJ Newell Brands Dec 17       1,429          815 75%          815          338 141%
NC Ingersoll Rand plc Dec 17       1,418       1,741 -19%       1,741       1,248 40%
NC V F Corp Dec 17       1,416       1,285 10%       1,285       1,564 -18%
CO Molson Coors Brewing Dec 17       1,382       3,057 -55%       3,057          456 570%
CT Amphenol Dec 17       1,352       1,141 18%       1,141       1,053 8%
GA Mohawk Industries Dec 17       1,318       1,241 6%       1,241          749 66%
 TN  Eastman Chemical Dec 17       1,289       1,049 23%       1,049       1,129 -7%
 MI  Aptiv plc Dec 17       1,286       1,035 24%       1,035       1,013 2%
WA Fortive Corp Dec 17       1,284       1,197 7%       1,197       1,270 -6%
CA Monster Beverage Dec 17       1,202       1,080 11%       1,080          892 21%
NY Thomson Reuters Dec 17       1,188       1,041 14%       1,041       1,161 -10%
MA Keurig Dr Pepper Dec 17       1,171       1,281 -9%       1,281       1,184 8%
PA Alcoa Dec 17       1,159        (162) 815%        (162)        (337) 52%
 PA  Hershey Dec 17       1,111       1,099 1%       1,099          902 22%
TX Westlake Chemical Dec 17       1,081          558 94%          558          963 -42%
TX Celanese Dec 17       1,075       1,030 4%       1,030          488 111%
MI BorgWarner Dec 17       1,064          191 457%          191          927 -79%
 FL  Roper Technologies Dec 17       1,035          941 10%          941       1,002 -6%
 TN  International Paper Dec 17       1,025          993 3%          993       1,249 -20%
CO Pilgrim's Pride Dec 17          982          724 36%          724       1,001 -28%
IL Dover Dec 17          974          689 41%          689          801 -14%
IN Steel Dynamics Dec 17          935          564 66%          564        (242) 333%
DE Chemours Co Dec 17          912          (11) 8391%          (11)        (188) 94%
MI Whirlpool Dec 17          887       1,114 -20%       1,114       1,031 8%
MI Masco Dec 17          885          830 7%          830          689 20%
OH Goodyear Tire & Rubber Dec 17          878       1,207 -27%       1,207          608 99%
WI Harley Davidson Dec 17          864       1,024 -16%       1,024       1,150 -11%
PA Crown Holdings Dec 17          829          769 8%          769          639 20%
IL Packaging Corp of America Dec 17          829          689 20%          689          665 4%
WI Snap-On Dec 17          823          804 2%          804          712 13%
 PA  Ametek Dec 17          797          693 15%          693          806 -14%
RI Hasbro Dec 17          786          692 14%          692          604 15%
IL Ingredion Dec 17          769          742 4%          742          599 24%
IL CNH Industrial NV Dec 17          768            49 1467%            49          608 -92%
RI Textron Dec 17          762          876 -13%          876          971 -10%
 NJ  Church & Dwight Dec 17          693          706 -2%          706          635 11%
MI WABCO Holdings Dec 17          653          369 77%          369          298 24%
TX Huntsman Corp Dec 17          647          474 36%          474          488 -3%
MA Waters Dec 17          641          600 7%          600          542 11%
CA Avery Dennison Dec 17          590          477 24%          477          409 17%
NC Enpro Industries Dec 17          578          (69) 938%          (69)          (19) -263%
OH Mettler-Toledo Dec 17          574          504 14%          504          463 9%
OH Owens-Corning Dec 17          559          587 -5%          587          454 29%
CO Ball Corp Dec 17          545          140 289%          140          350 -60%
NC Hanesbrands Dec 17          537          571 -6%          571          474 20%
NY Intl Flavors & Fragrances Dec 17          537          524 2%          524          539 -3%
KS Spirit AeroSystems Dec 17          535          662 -19%          662          809 -18%
MI Gentex Dec 17          532          511 4%          511          464 10%
NC Albemarle Dec 17          531          575 -8%          575          339 70%
IN Allison Transmission Dec 17          527          341 55%          341          289 18%
MA Teradyne Dec 17          524          (55) 1053%          (55)          253 -122%
WI A.O. Smith Dec 17          521          463 13%          463          403 15%
TN Louisiana-Pacific Dec 17          510          170 200%          170          (89) 291%
NY PVH Corp Jan 18          510          674 -24%          674          648 4%
MI Autoliv Dec 17          507          804 -37%          804          676 19%
MN Pentair plc Dec 17          489          561 -13%          561          513 9%
GA NCR Dec 17          482          379 27%          379          (95) 499%
NY Arconic Dec 17          470          414 14%          414          183 126%
AZ Carlisle Cos Dec 17          468          411 14%          411          468 -12%
 NY  Xylem Dec 17          466          340 37%          340          403 -16%
TX Lennox Intl Dec 17          464          403 15%          403          283 42%
IL Idex Corp Dec 17          455          369 23%          369          392 -6%
MA MKS Instruments Dec 17          448          128 250%          128          159 -19%
CT Hubbell Dec 17          443          430 3%          430          419 3%
MO Leggett & Platt  Dec 17          432          487 -11%          487          450 8%
KS Seaboard Dec 17          427          384 11%          384          241 59%
MI Delphi Technologies plc Dec 17          425          318 34%          318          398 -20%
PA Trinseo SA Dec 17          411          405 1%          405          204 99%
MA Sensata Technologies plc Dec 17          402          321 25%          321          206 56%
OH Dana Inc Dec 17          398          229 74%          229          258 -11%
NC Sealed Air Dec 17          393          388 1%          388          291 33%
GA Carters Inc Dec 17          391          396 -1%          396          368 8%
MN Mosaic Dec 17          391          227 72%          227       1,101 -79%
CA Skechers USA Dec 17          384          359 7%          359          333 8%
IL Middleby Dec 17          384          421 -9%          421          281 50%
TX Trinity Industries Dec 17          372          567 -34%          567       1,252 -55%
CT Crane Dec 17          368          164 124%          164          337 -51%
OH Lincoln Electric Holdings Dec 17          366          277 32%          277          170 63%
NJ Garrett Motion Dec 17          366          250 46%          250          368 -32%
PA Westinghouse Air Brake Tech Dec 17          352          413 -15%          413          585 -29%
MN Graco Dec 17          347            97 258%            97          475 -80%
FL Rayonier Advanced Materials Dec 17          345          113 205%          113            83 36%
IL Tenneco Dec 17          344          424 -19%          424          441 -4%
IL Brunswick Dec 17          343          389 -12%          389          315 23%
MI American Axle Dec 17          340          299 14%          299          273 10%
IL USG Corp Dec 17          335          274 22%          274          236 16%
CT Hexcel Dec 17          327          340 -4%          340          320 6%
SC Sonoco Products Dec 17          324          453 -28%          453          338 34%
GA AGCO Corp Dec 17          323          252 28%          252          337 -25%
MN Polaris Industries Dec 17          318          313 2%          313          686 -54%
VA NewMarket Dec 17          315          343 -8%          343          339 1%
MN nVent Electric plc Dec 17          313          315 -1%          315          266 18%
MN Deluxe Dec 17          313          340 -8%          340          328 4%
NY ITT Inc Dec 17          309          258 20%          258          382 -32%
TX Kronos Worldwide Dec 17          306            61 402%            61          (31) 29%
PA United States Steel Dec 17          301        (416) 172%        (416)     (1,459) 71%
NC Curtiss-Wright Dec 17          300          268 12%          268          275 -3%
MA PerkinElmer Dec 17          297          244 22%          244          209 17%
VA BWX Technologies Dec 17          296          257 15%          257          221 16%
IL AptarGroup Dec 17          295          280 5%          280          295 -5%
TX Valhi Dec 17          292            40 630%            40          (42) 195%
CT Pitney Bowes Dec 17          283          246 15%          246          611 -60%
NJ Pinnacle Foods Dec 17          279          341 -18%          341          336 1%
WI Regal Beloit Dec 17          277          266 4%          266          197 35%
OH Owens-Illinois Dec 17          275          356 -23%          356          268 33%
OR Columbia Sportswear Dec 17          267          257 4%          257          247 4%
MA Cognex Dec 17          267          169 58%          169          127 33%
TX Flowserve Dec 17          263          213 23%          213          412 -48%
OH Timken Dec 17          260          202 29%          202          218 -7%
CA Trimble Dec 17          259          177 46%          177          152 16%
GA Graphic Packaging Dec 17          255          321 -21%          321          361 -11%
TX McDermott Dec 17          246            78 215%            78            43 81%
OH Cooper Tire & Rubber Dec 17          244          367 -34%          367          334 10%
CT Silgan Holdings Dec 17          240          232 3%          232          253 -8%
NY Bunge Ltd Dec 17          230          996 -77%          996       1,051 -5%
NE Valmont Industries Dec 17          228          220 4%          220            93 137%
MI Visteon Dec 17          223          161 39%          161            69 133%
PA Armstrong World Industries Dec 17          222          151 47%          151            95 59%
IN LCI Industries Dec 17          213          199 7%          199          114 75%
MI Cooper-Standard Holdings Dec 17          213          195 9%          195          153 27%
OH PolyOne Dec 17          212          227 -7%          227          174 30%
MD WR Grace Dec 17          211          166 27%          166          194 -14%
NC CommScope Holdings Dec 17          210          273 -23%          273          (62) 540%
NY Loral Space & Comm Equip Dec 17          208            76 174%            76        (115) -166%
WI Generac Holdings Dec 17          205          156 31%          156          123 27%
DE DuPont Dec 17          205       2,723 -92%       2,723       2,022 35%
IL Littelfuse Dec 17          204          123 66%          123          107 15%
CO Advanced Energy Industries Dec 17          198          128 55%          128          105 22%
CT Barnes Group Dec 17          196          183 7%          183          158 16%
NY Minerals Technologies Dec 17          192          172 12%          172          134 28%
MO Hostess Brands Dec 17          191            45 324%            45            89 -49%
PA Axalta Coating Systems Ltd Dec 17          190            83 129%            83          158 -47%
KY Tempur Sealy Dec 17          188          272 -31%          272          191 42%
TX Venator Materials plc Dec 17          186        (108) 272%        (108)        (396) 73%
FL Tupperware Brands Dec 17          185          301 -39%          301          260 16%
MA Entegris Dec 17          185          120 54%          120            94 28%
PA FMC Corp Dec 17          181          181 0%          181        (207) 187%
PA Dorman Products Dec 17          177          168 5%          168          146 15%
MI Universal Forest Products Dec 17          176          161 9%          161          131 23%
SC Ingevity Dec 17          175            87 101%            87          137 -36%
NY Steven Madden Ltd Dec 17          172          171 1%          171          172 -1%
MI Steelcase Feb 18          162          196 -17%          196          175 12%
IL ACCO Brands Dec 17          158          125 26%          125          131 -5%
TX Helen of Troy Feb 18          155          156 -1%          156          106 47%
MA Acushnet Holdings Dec 17          152            89 71%            89            32 178%
NJ Universal Display Dec 17          150            69 117%            69            33 109%
 GA  Flowers Foods Dec 17          149          250 -40%          250          293 -15%
NC JELD-WEN Holding Dec 17          149          134 11%          134            88 52%
IL Kapstone Paper & Packaging Dec 17          148          128 16%          128          162 -21%
WI Sensient Technologies Dec 17          148          167 -11%          167          149 12%
NJ B&G Foods Dec 17          148          177 -16%          177          121 46%
NJ AdvanSix Dec 17          145            54 169%            54          100 -46%
CA Simpson Manufacturing Dec 17          144          139 4%          139          109 28%
MA Watts Water Technologies Dec 17          143          128 12%          128        (111) 215%
VA Trex Co Dec 17          142          103 38%          103            77 34%
FL KLX Inc Jan 18          141            54 161%            54        (614) 109%
CA TTM Technologies Inc Dec 17          140            67 109%            67              9 644%
IL Stepan Dec 17          139          114 22%          114          103 11%
 WA  Itron Dec 17          135            85 59%            85            37 130%
CA Kaiser Aluminum Dec 17          133          147 -10%          147        (372) 140%
AZ Rogers Corp Dec 17          133            82 62%            82            66 24%
IL John Bean Technologies Dec 17          132            94 40%            94            82 15%
FL Masonite Intl Dec 17          130          127 2%          127          (28) 554%
TX Arcosa Dec 17          130          197 -34%          197          219 -10%
CO Innospec Dec 17          128          103 24%          103          152 -32%
TN Mueller Industries Dec 17          125          148 -16%          148          132 12%
MO Caleres Jan 18          123            97 27%            97          109 -11%
IN Wabash National Corp Dec 17          123          185 -34%          185          163 13%
MA Casa Systems Dec 17          123          116 6%          116          102 14%
FL Welbilt Dec 17          121          102 19%          102          196 -48%
NY Avon Products Dec 17          121            31 290%            31            23 35%
VA Iridium Communications Dec 17          120          178 -33%          178            73 144%
ID Boise Cascade Dec 17          118            43 174%            43            81 -47%
MO Olin Corp Dec 17          117          (34) 444%          (34)              7 -586%
MA Boston Beer Dec 17          116          137 -15%          137          155 -12%
IN Patrick Industries Dec 17          113            84 35%            84            66 27%
CT Terex Dec 17          112        (271) 141%        (271)          196 -238%
OH Ferro Dec 17          111            62 79%            62            55 13%
NY New York Times Dec 17          111            31 258%            31            97 -68%
CO Gates Industrial Group plc Dec 17          110            93 18%            93            42 121%
NY G-III Apparel Group Ltd Jan 18          110            78 41%            78          179 -56%
MN Apogee Enterprises Feb 18          110          123 -11%          123            97 27%
IN Franklin Electric Dec 17          105          104 1%          104            86 21%
WA Mercer Intl Dec 17          104            59 76%            59          105 -44%
GA Schweitzer-Mauduit Intl Dec 17          104            98 6%            98          112 -13%
CO EchoStar Dec 17          101          217 -53%          217          139 56%
GA Interface Dec 17          101            79 28%            79          106 -25%
MO Belden Dec 17            99          126 -21%          126            40 215%
NY Standard Motor Products Dec 17            96            99 -3%            99            74 34%
PA Harsco Dec 17            95          (74) 228%          (74)            35 -311%
OH Hyster-Yale Matl Handling Dec 17            94            38 147%            38          105 -64%
GA Neenah Dec 17            92          103 -11%          103            90 14%
MN Sleep Number Dec 17            91            76 20%            76            75 1%
WI Quad/Graphics Dec 17            91            58 57%            58        (925) 106%
CA NetGear Dec 17            91          115 -21%          115            86 34%
TX Apergy Dec 17            89          (19) 568%          (19)            77 -125%
FL Vector Group Ltd Dec 17            89          126 -29%          126          108 17%
NY Balchem Dec 17            88            83 6%            83            87 -5%
IL Tootsie Roll Industries Dec 17            85            98 -13%            98            93 5%
GA Oxford Industries Jan 18            83            86 -3%            86            95 -9%
TX Alamo Group Dec 17            82            62 32%            62            67 -7%
TX Encore Wire Dec 17            80            51 57%            51            72 -29%
PA Knoll Dec 17            79          128 -38%          128          103 24%
NY Inter Parfums Dec 17            78            67 16%            67            60 12%
NY Gibraltar Industries Dec 17            78            50 56%            50            37 35%
CT Sturm Ruger Dec 17            78          136 -43%          136            96 42%
VA Continental Building Products Dec 17            76            67 13%            67            26 158%
MA Novanta Dec 17            76            33 130%            33            46 -28%
MA iRobot Dec 17            76            61 25%            61            63 -3%
MN Proto Labs Dec 17            74            64 16%            64            68 -6%
OK AAON Inc Dec 17            74            80 -8%            80            71 13%
AZ Mobile Mini Dec 17            74            69 7%            69              1 6800%
AZ Benchmark Electronics Dec 17            73            68 7%            68            90 -24%
IA HNI Corp Dec 17            71          129 -45%          129          157 -18%
MA Altra Industrial Motion Dec 17            71            34 109%            34            51 -33%
CA Guess? Jan 18            70            54 30%            54          127 -57%
PA Livent Corp Dec 17            70            55 27%  N/A  N/A
MI Gentherm Dec 17            69          111 -38%          111          129 -14%
CA Callaway Golf Dec 17            68            58 17%            58            20 190%
MI TriMas Dec 17            66          (58) 214%          (58)          (22) -164%
IL SunCoke Partners Dec 17            66          123 -46%          123            90 37%
MO American Railcar Dec 17            66          114 -42%          114          211 -46%
CA Fox Factory Holding Dec 17            64            43 49%            43            34 26%
TX Darling Ingredients Dec 17            64          123 -48%          123            99 24%
PA Quaker Chemical Dec 17            64            86 -26%            86            70 23%
NC Coca-Cola Bottling Dec 17            63            93 -32%            93            99 -6%
IL Federal Signal Dec 17            61            57 7%            57          100 -43%
MA Rudolf Technologies Dec 17            60            50 20%            50            27 85%
SD Raven Industries Jan 18            59            28 111%            28              4 600%
NC SPX FLOW Dec 17            58        (482) 112%        (482)          137 -452%
MA Kadant Dec 17            58            45 29%            45            49 -8%
TN Astec Industries Dec 17            57            87 -34%            87            52 67%
AZ TPI Composites Dec 17            57            21 171%            21            12 75%
IL Century Aluminum Dec 17            56        (250) 122%        (250)          (50) -400%
NH Albany Intl Dec 17            55            78 -29%            78            51 53%
WI Badger Meter Dec 17            55            50 10%            50            41 22%
WI Bemis Dec 17            53          351 -85%          351          364 -4%
WI Douglas Dynamics Dec 17            53            64 -17%            64            66 -3%
MI Stoneridge Dec 17            53            39 36%            39            20 95%
KS MGP Ingredients Dec 17            53            45 18%            45            38 18%
OH AK Steel Dec 17            51            61 -16%            61        (383) 116%
FL Sun Hydraulics Dec 17            48            35 37%            35            49 -29%
AL Adtran Dec 17            45            47 -4%            47            26 81%
MA Axcelis Technologies Dec 17            44            11 300%            11            15 -27%
CA Nanometrics Dec 17            43            29 48%            29              6 383%
NJ Movado Group Jan 18            42            51 -18%            51            69 -26%
VA Gannett Co Dec 17            41            66 -38%            66          194 -66%
FL PGT Innovations Dec 17            40            36 11%            36            39 -8%
IL CTS Corp Dec 17            40            57 -30%            57            12 375%
MD Medifast Dec 17            40            27 48%            27            30 -10%
TX US Concrete Dec 17            39            31 26%            31            (4) 875%
PA Glatfelter PH Dec 17            39            11 255%            11            79 -86%
OH Gorman Rupp Dec 17            39            36 8%            36            37 -3%
NC SPX Corp Dec 17            36            39 -8%            39        (154) 125%
OH Materion Dec 17            36            25 44%            25            43 -42%
TX Kraton Dec 17            35            13 169%            13            (6) 317%
CA Cohu Dec 17            35              6 483%              6              8 -25%
TX Yeti Holdings Dec 17            32            65 -51%            65          115 -43%
TX AZZ Inc Feb 18            31            85 -64%            85          102 -17%
NY Astronics Dec 17            25            69 -64%            69            94 -27%
TX Integer Holdings Dec 17            22              1 2100%              1          (16) 106%
CA e.l.f. Beauty Dec 17            22            10 120%            10              9 11%
GA ARRIS Intl Dec 17            21            24 -13%            24          107 -78%
TX Dean Foods Dec 17            21          203 -90%          203          (13) 1662%
IL Knowles Dec 17            19            28 -32%            28            21 33%
CO Crocs Dec 17            18            (7) 357%            (7)          (75) 91%
OH Milacron Holdings Dec 17            18            45 -60%            45          (18) 350%
AZ Axon Enterprises Dec 17            16            31 -48%            31            35 -11%
GA Chart Industries Dec 17            14            38 -63%            38        (202) 119%
UT Control4 Corp Dec 17            14              4 250%              4            (1) 500%
CA Arlo Technologies Dec 17              8          (14) 157%  N/A   N/A 
WA Funko Dec 17              7            27 -74%            27            12 125%
MA Circor Intl Dec 17              6            10 -40%            10            22 -55%
FL Faro Technologies Dec 17              6            13 -54%            13            13 0%
OH GrafTech Intl Ltd Dec 17              3        (116) 103%        (116)        (117) 1%
MA Vicor Dec 17            (0)            (6) 98%            (6)            (0) NM
NY New Media Investment Group Dec 17            (0)            29 -101%            29            71 -59%
MN Tennant Dec 17            (1)            66 -102%            66            50 32%
NJ Freshpet Dec 17            (4)            (3) -33%            (3)            (4) 25%
CT Compass Diversified Hldgs Dec 17            (7)            63 -111%            63            24 163%
MD Under Armour Dec 17          (10)          388 -103%          388          387 0%
MI Wolverine World Wide Dec 17          (11)          111 110%          111          165 -33%
MD Colfax Dec 17          (12)          207 -106%          207          218 -5%
CA Vocera Communications Dec 17          (13)          (17) 24%          (17)          (17) 0%
CA Codexis Dec 17          (23)            (9) -156%            (9)            (8) -13%
MA GCP Applied Technologies Dec 17          (28)            35 -180%            35            57 -39%
CO Maxar Technologies Ltd Dec 17          (36)          130 -128%  N/A   N/A 
OH Verso Dec 17          (38)        (212) 82%        (212)        (425) 50%
WI Manitowoc Dec 17          (40)        (268) 85%        (268)        (111) -141%
NV PlayAGS Dec 17          (47)          (84) 44%          (84)          (75) -12%
PA PQ Group Holdings Dec 17          (60)          (69) 13%          (69)            11 -727%
NY Veeco Instruments Dec 17          (81)        (119) 32%        (119)          (23) -417%
PA Allegheny Technologies Dec 17          (87)        (734) 88%        (734)        (478) -54%
CT Tronox Ltd Dec 17          (87)        (264) 67%        (264)        (349) 24%
IA Renewable Energy Group Dec 17        (110)            49 -324%            49        (160) 131%
WI Gardner Denver Holdings Dec 17        (113)          (63) -79%          (63)        (367) 83%
IL CF Industries Dec 17        (125)        (226) 45%        (226)       1,130 -120%
MA Houghton Mifflin Harcourt Dec 17        (154)        (350) 56%        (350)        (154) -127%
NY Revlon Dec 17        (164)              9 -1922%              9          111 -92%
OH Diebold Nixdorf Dec 17        (176)        (238) 26%        (238)            46 -617%
CA GoPro Dec 17        (176)        (375) 53%        (375)            53 -808%
CA Infinera Dec 17        (196)          (29) -576%          (29)            52 -156%
CA Sunrun Dec 17        (255)        (267) 4%        (267)        (254) -5%
CA Bloom Energy Dec 17        (281)        (336) 16%  N/A   N/A 
FL Platform Specialty Products Dec 17        (289)          (48) -502%          (48)        (229) 79%
OH Babcock & Wilcox Enterprises Dec 17        (314)        (108) -191%        (108)            20 -640%
MI Veoneer Dec 17        (314)          (22) -1327%          (22)            (8) 175%
SC Domtar Dec 17        (383)          157 -344%          157          156 1%
TX Fossil Group Dec 17        (454)          114 -498%          114          312 -63%
CA Mattel Dec 17        (505)          410 -223%          410          464 -12%
IL TreeHouse Foods Dec 17        (525)        (195) -169%        (195)          171 -214%
CA Tesla Dec 17     (2,209)        (746) -196%        (746)        (876) 15%
MA General Electric Dec 17     (8,791)       9,030 -197%       9,030       8,186 10%
Total all 346 Companies   219,896   227,111 -3%   227,276   213,091 7%

Then in 2018, things got much worse for these key US Basic Manufacturing Companies.

For the First Nine Months of 2018, the Total Gold-Standard US GAAP Pretax Income Declined By a Huge 13% from that in the First Nine Months of 2017 for these key 346 US Basic Manufacturing Companies.

And for the complete financial disaster, for the most recent Third Quarter of 2018, the Total Gold-Standard US GAAP Pretax Income Declined By a Massive 52% from that in the Third Quarter of 2017 for these key to the US economy 346 US Basic Manufacturing Companies. 

I haven't seen such a large US GAAP Total Pretax Earnings Decline as 52% in one quarter  in the key US Basic Manufacturing Companies Sector since 2009, with such massive quarter total pretax earnings drops then being driven by the disastrous US financial meltdown. 

The chart below shows the Gold-Standard US GAAP Total Pretax Income (Loss) From Continuing Operations for the Third Quarter and First Nine Months of 2018 as compared to the immediate prior year periods for each of these stellar 346 key US Basic Manufacturing Companies with December, January or February Fiscal Year Ends.

US
US
GAAP
GAAP
Pretax
Pretax
US
US
Income
Income
GAAP
GAAP
(Loss)
(Loss)
Pretax
Pretax
Most
Most
Income
Income
Recent
Recent
(Loss)
(Loss)
Quarter
Quarter
9 Mos
9 Mos
Most
Ended 
Ended 
Ended 
Ended 
Recent
Sep
Sep
Sep
Sep
Audited
Oct
Oct
Oct
Oct
US
US Basic Manufacturing Cos
FYE
or
or
or
or
State
Dec, Jan or Feb FYEs
Fincl
Nov
Nov
%
Nov
Nov
%
HQs
Market Caps Above $1 Bil
Sts
2018
2017
Change
2018
2017
Change

mils $
mils $
mils $
mils $
NY Philip Morris Dec 17       3,032       2,857 6%       8,177       7,587 8%
 VA  Altria Group Dec 17       2,608       2,644 -1%       7,631       7,645 0%
GA Coca-Cola Dec 17       2,847       1,674 70%       7,563       5,805 30%
WA Boeing Dec 17       2,133       2,583 -17%       7,558       7,190 5%
NY PepsiCo Dec 17       2,697       2,776 -3%       7,254       7,271 0%
MI General Motors Dec 17       2,630       2,430 8%       7,091       8,870 -20%
CT United Technologies Dec 17       1,768       1,940 -9%       6,492       6,058 7%
IL Caterpillar Dec 17       2,142       1,531 40%       6,476       2,979 117%
NJ Honeywell Dec 17       1,858       1,778 4%       5,767       5,283 9%
MN 3M Dec 17       1,965       1,997 -2%       5,280       5,876 -10%
MI Dow Chemical Dec 17       1,353       1,429 -5%       4,809       4,371 10%
 TX  LyondellBasell Industries Dec 17       1,347       1,438 -6%       4,515       4,151 9%
MI Ford Motor Dec 17       1,094       1,770 -38%       4,362       6,287 -31%
IL Mondelez Intl Dec 17       1,507       1,254 20%       3,231       2,649 22%
PA Kraft Heinz Dec 17          814       1,359 -40%       3,114       4,199 -26%
NY Colgate Palmolive Dec 17          820          900 -9%       2,632       2,591 2%
NY Constellation Brands Feb 18          347          647 -46%       2,615       1,754 49%
IL Illinois Tool Works Dec 17          835          906 -8%       2,578       2,474 4%
NC Nucor Corp Dec 17          923          371 149%       2,352       1,428 65%
DC Danaher Dec 17          801          730 10%       2,350       1,960 20%
WA Paccar Dec 17          669          582 15%       2,058       1,569 31%
IN Cummins Dec 17          805          622 29%       2,043       1,769 15%
CT Praxair Dec 17          636          597 7%       1,913       1,727 11%
IL Archer Daniels Midland Dec 17          632          225 181%       1,748       1,066 64%
 OH  Eaton Corp plc Dec 17          439       1,694 -74%       1,698       2,733 -38%
 TN  International Paper Dec 17          645          502 28%       1,656          764 117%
MI Kellogg Dec 17          452          389 16%       1,632       1,083 51%
TX Kimberly Clark Dec 17          600          803 -25%       1,404       2,327 -40%
PA PPG Industries Dec 17          451          523 -14%       1,351       1,628 -17%
TX Celanese Dec 17          462          289 60%       1,336          810 65%
CO Molson Coors Brewing Dec 17          410          441 -7%       1,291       1,182 9%
NC Ingersoll Rand plc Dec 17          530          445 19%       1,283       1,093 17%
IN Steel Dynamics Dec 17          507          234 117%       1,278          774 65%
 OH  Sherwin-Williams Dec 17          416          428 -3%       1,258       1,243 1%
MN Ecolab Dec 17          482          526 -8%       1,257       1,214 4%
 TN  Eastman Chemical Dec 17          459          403 14%       1,239       1,103 12%
MI Lear Corp Dec 17          332          393 -16%       1,237       1,201 3%
PA Alcoa Dec 17          406          288 41%       1,228          943 30%
TX Westlake Chemical Dec 17          391          328 19%       1,158          756 53%
NY Corning Inc Dec 17          758          479 58%       1,157       1,091 6%
CT Amphenol Dec 17          420          358 17%       1,157          974 19%
IL CNH Industrial NV Dec 17          362          122 197%       1,153          565 104%
RI Textron Dec 17          628          203 209%       1,106          539 105%
 PA  Hershey Dec 17          357          401 -11%       1,066          850 25%
 MI  Aptiv plc Dec 17          297          337 -12%       1,058          929 14%
CA Monster Beverage Dec 17          343          321 7%          982          934 5%
DE Chemours Co Dec 17          269          250 8%          973          649 50%
WA Fortive Corp Dec 17          296          348 -15%          965          946 2%
MI BorgWarner Dec 17          283          274 3%          929          857 8%
 FL  Roper Technologies Dec 17          312          265 18%          880          731 20%
CT Stanley Black & Decker Dec 17          305          354 -14%          851       1,186 -28%
GA Mohawk Industries Dec 17          278          372 -25%          851          985 -14%
TX Huntsman Corp Dec 17          256          151 70%          838          431 94%
OH Goodyear Tire & Rubber Dec 17          513          162 217%          809          591 37%
NC V F Corp Dec 17          599          551 9%          785          687 14%
MI Masco Dec 17          262          264 -1%          774          736 5%
 PA  Ametek Dec 17          245          204 20%          729          599 22%
NC Albemarle Dec 17          177          149 19%          727          360 102%
IL Packaging Corp of America Dec 17          274          217 26%          706          605 17%
WI Harley Davidson Dec 17          141            90 57%          691          769 -10%
WI Snap-On Dec 17          219          194 13%          682          626 9%
NY PVH Corp Jan 18          253          250 1%          671          485 38%
OH GrafTech Intl Ltd Dec 17          225            (5) NM          660          (40) NM
PA Crown Holdings Dec 17          295          287 3%          649          667 -3%
NY Arconic Dec 17          249          172 45%          642          925 -31%
IN Allison Transmission Dec 17          218          170 28%          631          443 42%
MI Autoliv Dec 17          171          151 13%          610          552 11%
PA FMC Corp Dec 17          110            59 86%          582          166 251%
PA United States Steel Dec 17          314          147 114%          559          231 142%
 NJ  Church & Dwight Dec 17          187          187 0%          543          494 10%
KS Spirit AeroSystems Dec 17          206          203 1%          539          317 70%
IL Dover Dec 17          193          207 -7%          539          612 -12%
CO Ball Corp Dec 17          199            55 262%          524          269 95%
TN Louisiana-Pacific Dec 17          168          157 7%          505          358 41%
OH Owens-Corning Dec 17          229          128 79%          503          435 16%
MA Waters Dec 17          169          154 10%          484          415 17%
IL Ingredion Dec 17          132          217 -39%          483          582 -17%
CA Avery Dennison Dec 17          167          147 14%          465          432 8%
NC Hanesbrands Dec 17          197          208 -5%          456          468 -3%
NY Bunge Ltd Dec 17          452          121 274%          439          229 92%
MA Keurig Dr Pepper Dec 17          194          163 19%          433          340 27%
OH Mettler-Toledo Dec 17          160          140 14%          421          380 11%
OH Dana Inc Dec 17          127          106 20%          409          320 28%
NY Thomson Reuters Dec 17            70          143 -51%          408          361 13%
MA Sensata Technologies plc Dec 17          174          103 69%          407          287 42%
 NY  Xylem Dec 17          161          131 23%          406          322 26%
IL CF Industries Dec 17            83        (115) 172%          406        (108) 476%
WI A.O. Smith Dec 17          132          132 0%          403          380 6%
MN Mosaic Dec 17          340          247 38%          402          330 22%
IL Idex Corp Dec 17          133          114 17%          400          332 20%
MI Gentex Dec 17          131          131 0%          391          394 -1%
MA MKS Instruments Dec 17          115          101 14%          390          337 16%
OH Owens-Illinois Dec 17          168          172 -2%          381          396 -4%
NY Intl Flavors & Fragrances Dec 17          101          141 -28%          381          422 -10%
MO Olin Corp Dec 17          261            60 335%          363            57 537%
TX Lennox Intl Dec 17          134          147 -9%          362          368 -2%
CO Pilgrim's Pride Dec 17            60          352 -83%          361          862 -58%
MI WABCO Holdings Dec 17            93            89 4%          359          294 22%
PA Trinseo SA Dec 17            94            42 124%          358          267 34%
MA Teradyne Dec 17          141          127 11%          357          426 -16%
CT Hubbell Dec 17          143          124 15%          352          331 6%
CA Skechers USA Dec 17          123          118 4%          350          329 6%
AZ Carlisle Cos Dec 17          122          124 -2%          346          348 -1%
NC Sealed Air Dec 17          109          106 3%          339          274 24%
MI American Axle Dec 17            76            92 -17%          336          247 36%
OH Timken Dec 17            97            75 29%          328          203 62%
NY ITT Inc Dec 17          137          128 7%          325          241 35%
MN Graco Dec 17          108            96 13%          321          274 17%
MO Leggett & Platt  Dec 17          113          101 12%          316          321 -2%
MN Polaris Industries Dec 17          123          109 13%          310          201 54%
PA Westinghouse Air Brake Tech Dec 17          103            81 27%          310          277 12%
SC Sonoco Products Dec 17            91          109 -17%          309          250 24%
CT Crane Dec 17          118            97 22%          307          285 8%
IL Middleby Dec 17            98          113 -13%          295          322 -8%
NJ Garrett Motion Dec 17            73            74 -1%          293          262 12%
MI Delphi Technologies plc Dec 17            55          113 -51%          292          333 -12%
IA Renewable Energy Group Dec 17            26          (11) 336%          277          (59) 569%
RI Hasbro Dec 17          296          350 -15%          276          508 -46%
MN Pentair plc Dec 17          102            83 23%          274          110 149%
OH Lincoln Electric Holdings Dec 17            96          131 -27%          274          293 -6%
IL Tenneco Dec 17            83          115 -28%          273          228 20%
IL Brunswick Dec 17            75          109 -31%          273          362 -25%
GA Graphic Packaging Dec 17          140            73 92%          272          193 41%
GA AGCO Corp Dec 17            95            78 22%          260          209 24%
TX Kronos Worldwide Dec 17            47            80 -41%          257          193 33%
CT Hexcel Dec 17            88            83 6%          252          240 5%
NC Curtiss-Wright Dec 17            93            86 8%          250          200 25%
VA BWX Technologies Dec 17            85            71 20%          249          239 4%
CT Silgan Holdings Dec 17          110          108 2%          244          183 33%
WI Gardner Denver Holdings Dec 17            95            32 197%          238        (166) 243%
CO Gates Industrial Group plc Dec 17            74            34 118%          220            85 159%
VA NewMarket Dec 17            68            77 -12%          219          251 -13%
SC Domtar Dec 17          102            73 40%          218          145 50%
WI Regal Beloit Dec 17            56            81 -31%          217          212 2%
NC CommScope Holdings Dec 17            66            68 -3%          215          184 17%
WI Generac Holdings Dec 17            97            60 62%          214          119 80%
CA Trimble Dec 17            64            72 -11%          210          200 5%
PA Allegheny Technologies Dec 17            63        (121) 152%          209          (87) 340%
IL AptarGroup Dec 17            51            70 -27%          207          219 -5%
OR Columbia Sportswear Dec 17          132          124 6%          206          157 31%
IL Kapstone Paper & Packaging Dec 17            95            45 111%          205            85 141%
TX Valhi Dec 17            57            77 -26%          205          182 13%
FL Tupperware Brands Dec 17            57            56 2%          204          108 89%
OH AK Steel Dec 17            86            39 121%          198          233 -15%
WI Bemis Dec 17            75            82 -9%          198          197 1%
MN nVent Electric plc Dec 17            81            98 -17%          196          252 -22%
GA Carters Inc Dec 17            94          123 -24%          195          253 -23%
PA Armstrong World Industries Dec 17            81            53 53%          195          179 9%
MA Entegris Dec 17            59            50 18%          195          143 36%
CT Terex Dec 17            51            57 -11%          195            87 124%
NY Avon Products Dec 17          182            48 279%          192            29 561%
IL USG Corp Dec 17            73            93 -22%          189          243 -22%
MI Wolverine World Wide Dec 17            64            27 137%          187            70 167%
MA Cognex Dec 17            81          113 -28%          186          214 -13%
PA Axalta Coating Systems Ltd Dec 17              3            58 -95%          184          125 47%
OH PolyOne Dec 17            56            52 8%          182          183 -1%
TX Trinity Industries Dec 17            39          108 -64%          182          271 -33%
MA PerkinElmer Dec 17            78          105 -26%          178          216 -18%
SC Ingevity Dec 17            68            55 24%          178          142 25%
GA Flowers Foods Dec 17            51          (56) 191%          171          105 63%
MI Visteon Dec 17            32            55 -42%          169          188 -10%
CA Callaway Golf Dec 17            11              5 120%          169            91 86%
IL Littelfuse Dec 17            68            56 21%          165          160 3%
IN LCI Industries Dec 17            44            48 -8%          165          169 -2%
MO Belden Dec 17          118          (10) NM          163            56 191%
CT Barnes Group Dec 17            53            44 20%          162          149 9%
CT Pitney Bowes Dec 17            45            56 -20%          160          183 -13%
NY Minerals Technologies Dec 17            53            55 -4%          159          158 1%
MI Universal Forest Products Dec 17            55            51 8%          157          136 15%
FL Rayonier Advanced Materials Dec 17            49            23 113%          156            48 225%
NY G-III Apparel Group Ltd Jan 18          128          128 0%          154            98 57%
CA Simpson Manufacturing Dec 17            61            45 36%          154          121 27%
MI Cooper-Standard Holdings Dec 17            31            33 -6%          153          150 2%
CO Advanced Energy Industries Dec 17            40            51 -22%          152          140 9%
NY Steven Madden Ltd Dec 17            71            66 8%          151          140 8%
MD Colfax Dec 17            50            63 -21%          149          176 -15%
NJ Pinnacle Foods Dec 17  N/A   N/A  N/A          148            46 222%
MD WR Grace Dec 17            17            59 -71%          148          183 -19%
TX Helen of Troy Feb 18            58            64 -9%          147          127 16%
VA Trex Co Dec 17            39            30 30%          144          117 23%
WI Sensient Technologies Dec 17            45            47 -4%          142          106 34%
MN Deluxe Dec 17          (22)            49 -145%          140          219 -36%
MI Steelcase Feb 18            45            38 18%          136          117 16%
MA Acushnet Holdings Dec 17            17            14 21%          135          128 5%
MA Watts Water Technologies Dec 17            44            40 10%          133          110 21%
KY Tempur Sealy Dec 17            60            74 -19%          131          154 -15%
PA Dorman Products Dec 17            44            43 2%          127          133 -5%
KS Seaboard Dec 17            60          124 -52%          125          320 -61%
IN Patrick Industries Dec 17            37            28 32%          122            82 49%
PA Harsco Dec 17            49            22 123%          121            70 73%
PA Livent Corp Dec 17            36            33 9%          119            69 72%
NE Valmont Industries Dec 17            16            51 -69%          118          174 -32%
ID Boise Cascade Dec 17            13            50 -74%          116          100 16%
WA Mercer Intl Dec 17            51            28 82%          112            51 120%
IL Stepan Dec 17            25            29 -14%          105          111 -5%
FL Masonite Intl Dec 17            32            37 -14%          104            98 6%
OH Cooper Tire & Rubber Dec 17            72            95 -24%          102          205 -50%
TN Mueller Industries Dec 17            24            31 -23%          102          114 -11%
IL ACCO Brands Dec 17            49            50 -2%            99            88 13%
OH Ferro Dec 17            28            30 -7%            99            90 10%
TX Flowserve Dec 17            44            68 -35%            98          196 -50%
GA Schweitzer-Mauduit Intl Dec 17            35            35 0%            98            88 11%
CO EchoStar Dec 17            29            42 -31%            98            82 20%
TX Apergy Dec 17            33            27 22%            97            74 31%
NY New York Times Dec 17            35            60 -42%            96          106 -9%
NC SPX FLOW Dec 17            42            23 83%            93            28 232%
MO Caleres Jan 18            39            49 -20%            93            96 -3%
NH Albany Intl Dec 17            40            19 111%            92            40 130%
IN Franklin Electric Dec 17            36            30 20%            92            84 10%
NC JELD-WEN Holding Dec 17            (3)            64 -105%            92          137 -33%
CA Kaiser Aluminum Dec 17            30            36 -17%            90            97 -7%
CO Innospec Dec 17            30            30 0%            90            88 2%
FL KLX Inc Jan 18  N/A   N/A  N/A            87            63 38%
MA Boston Beer Dec 17            47            52 -10%            87          101 -14%
NY Inter Parfums Dec 17            34            33 3%            86            74 16%
OH Verso Dec 17            86              4 2050%            85          (66) 229%
AZ Rogers Corp Dec 17            29            41 -29%            85          112 -24%
MI TriMas Dec 17            27            18 50%            84            52 62%
NJ B&G Foods Dec 17            44            53 -17%            82          138 -41%
IL Federal Signal Dec 17            28            20 40%            80            49 63%
CO Crocs Dec 17            15              3 400%            79            48 65%
IN Wabash National Corp Dec 17            10            30 -67%            79            94 -16%
MA iRobot Dec 17            38            26 46%            78            54 44%
IA HNI Corp Dec 17            51            56 -9%            77            84 -8%
MN Apogee Enterprises Feb 18            29            33 -12%            76            84 -10%
IL John Bean Technologies Dec 17            33            39 -15%            74            82 -10%
NY Balchem Dec 17            24            21 14%            74            64 16%
MO Hostess Brands Dec 17            14            26 -46%            74          100 -26%
TX Alamo Group Dec 17            27            25 8%            72            62 16%
FL Welbilt Dec 17            40            45 -11%            70            85 -18%
MN Proto Labs Dec 17            25            20 25%            70            55 27%
CA Fox Factory Holding Dec 17            31            20 55%            69            49 41%
TX Encore Wire Dec 17            31            20 55%            69            57 21%
VA Continental Building Products Dec 17            24            17 41%            69            53 30%
TX Darling Ingredients Dec 17            (7)            15 -147%            68            42 62%
CA TTM Technologies Inc Dec 17            35            23 52%            67            86 -22%
FL Vector Group Ltd Dec 17            30            27 11%            67            70 -4%
GA Oxford Industries Jan 18              3              0 650%            67            65 3%
PA Knoll Dec 17            27            27 0%            66            69 -4%
NY Gibraltar Industries Dec 17            26            32 -19%            66            59 12%
TX Arcosa Dec 17              7            34 -79%            66          109 -39%
PA Quaker Chemical Dec 17            24            15 60%            65            46 41%
NC Enpro Industries Dec 17            25          541 -95%            63          561 -89%
TX Kraton Dec 17            52            (7) 843%            60            26 131%
TX McDermott Dec 17            44          113 -61%            60          207 -71%
NY Standard Motor Products Dec 17            26            27 -4%            60            82 -27%
NJ AdvanSix Dec 17              6            36 -83%            59          121 -51%
MA Kadant Dec 17            25            18 39%            58            41 41%
SD Raven Industries Jan 18            14            18 -22%            58            47 23%
GA Interface Dec 17              9            28 -68%            58            72 -19%
IL Tootsie Roll Industries Dec 17            33            39 -15%            57            69 -17%
OH Milacron Holdings Dec 17            22            19 16%            57            19 200%
MA Altra Industrial Motion Dec 17            18            19 -5%            57            55 4%
CA Nanometrics Dec 17            14              8 75%            56            24 133%
PA PQ Group Holdings Dec 17            23              2 1050%            53            (2) NM
MA Casa Systems Dec 17            20            37 -46%            53            72 -26%
TX AZZ Inc Feb 18            19            (2) NM            53            29 83%
MI Stoneridge Dec 17            17            12 42%            53            40 33%
NY Loral Space & Comm Equip Dec 17            53            41 29%            52          176 -70%
FL PGT Innovations Dec 17            17              9 89%            52            29 79%
CT Sturm Ruger Dec 17            12            13 -8%            51            63 -19%
MN Sleep Number Dec 17            23            39 -41%            50            71 -30%
MD Medifast Dec 17            18            10 80%            50            31 61%
IL SunCoke Partners Dec 17            16            25 -36%            49            30 63%
MA Novanta Dec 17            19              9 111%            48            60 -20%
MO American Railcar Dec 17            17            15 13%            48            52 -8%
NJ Universal Display Dec 17            28            17 65%            47            91 -48%
GA Chart Industries Dec 17            26              1 2500%            47              1 4600%
NJ Movado Group Jan 18            24            25 -4%            45            29 55%
NC SPX Corp Dec 17              9            27 -67%            45            38 18%
MA Axcelis Technologies Dec 17              9            13 -31%            44            34 29%
TX US Concrete Dec 17            24            32 -25%            43            50 -14%
OH Materion Dec 17            17            11 55%            43            23 87%
MA Rudolf Technologies Dec 17              8            26 -69%            43            48 -10%
GA ARRIS Intl Dec 17            30            73 -59%            41            62 -34%
IL CTS Corp Dec 17            14            14 0%            41            40 2%
AZ Benchmark Electronics Dec 17            10            20 -50%            41            50 -18%
TX Yeti Holdings Dec 17            20            16 25%            40            17 135%
OH Hyster-Yale Matl Handling Dec 17            10            16 -38%            40            59 -32%
OK AAON Inc Dec 17            20            23 -13%            39            57 -32%
FL Sun Hydraulics Dec 17            14            16 -13%            39            42 -7%
OH Gorman Rupp Dec 17            14              8 75%            39            27 44%
MI Gentherm Dec 17              3              7 -57%            39            51 -24%
NY Astronics Dec 17            16              9 78%            37            35 6%
WI Douglas Dynamics Dec 17            11            15 -27%            36            31 16%
TX Integer Holdings Dec 17          (14)            19 -174%            36            33 9%
KS MGP Ingredients Dec 17            12            22 -45%            33            42 -21%
IL Knowles Dec 17            25            15 67%            32          (15) 313%
VA Gannett Co Dec 17            16              6 167%            32              1 3100%
CA Cohu Dec 17              7            11 -36%            31            30 3%
GA Neenah Dec 17            13            26 -50%            27            76 -64%
MN Tennant Dec 17            10              4 150%            27            (3) NM
MA Vicor Dec 17            13              0 3150%            26            (1) NM
WI Quad/Graphics Dec 17            26            32 -19%            25            79 -68%
AZ Axon Enterprises Dec 17              5              1 400%            25              9 178%
WI Badger Meter Dec 17              4            12 -67%            21            42 -50%
CA NetGear Dec 17            12            27 -56%            19            70 -73%
NC Coca-Cola Bottling Dec 17            43            31 39%            14            34 -59%
WA Funko Dec 17            10              8 25%            13            (1) NM
UT Control4 Corp Dec 17              6              5 20%            13              7 86%
PA Glatfelter PH Dec 17              3              7 -57%            10            14 -29%
CT Tronox Ltd Dec 17            21          (17) 224%              8          (85) 109%
CT Compass Diversified Hldgs Dec 17              8              9 -11%              8          (18) 144%
AZ TPI Composites Dec 17            (1)            18 -106%              8            41 -80%
NY New Media Investment Group Dec 17            (6)            (1) -500%              8          (25) 132%
CA e.l.f. Beauty Dec 17              5              7 -29%              7            10 -30%
VA Iridium Communications Dec 17          (15)            39 -138%              4          132 -97%
WI Manitowoc Dec 17              1            (3) 133%              3          (35) 109%
IL Century Aluminum Dec 17          (19)            24 -180%              2            17 -88%
FL Faro Technologies Dec 17            (3)              3 -200%            (1)            (4) -75%
NJ Freshpet Dec 17            (0)            (0) NM            (7)            (6) -13%
CA Vocera Communications Dec 17            (0)              2 -105%            (9)          (10) 9%
CA Codexis Dec 17            (2)          (10) 80%          (10)          (24) 58%
TN Astec Industries Dec 17              7            (5) 240%          (16)            39 -141%
NV PlayAGS Dec 17              1            (3) 133%          (19)          (32) 41%
MA GCP Applied Technologies Dec 17            15          (33) 145%          (20)          (38) 47%
GA NCR Dec 17            72          150 -52%          (21)          351 -106%
CA Guess? Jan 18          (27)              2 NM          (21)              2 NM
AL Adtran Dec 17              3            19 -84%          (23)            45 -151%
MA Circor Intl Dec 17            (4)              4 -200%          (29)            17 -271%
AZ Mobile Mini Dec 17          (72)            18 -500%          (33)            46 -172%
CA Arlo Technologies Dec 17          (13)              6 -317%          (36)              5 -820%
TX Fossil Group Dec 17            10            (9) 211%          (42)        (496) 92%
FL Platform Specialty Products Dec 17          (23)          (39) 41%          (42)        (153) 73%
MA Houghton Mifflin Harcourt Dec 17            81            79 3%          (49)          (73) 33%
MD Under Armour Dec 17          106            52 104%          (50)            38 -232%
IL TreeHouse Foods Dec 17              0            30 -99%          (70)            14 -600%
TX Venator Materials plc Dec 17        (421)            67 -728%          (78)            92 -185%
CA Infinera Dec 17          (32)          (37) 14%          (81)        (121) 33%
TX Dean Foods Dec 17          (40)          (14) -186%          (95)              2 NM
WA Itron Dec 17            26            33 -21%        (123)            90 -237%
CA GoPro Dec 17          (25)              4 -725%        (141)        (114) -24%
CA Bloom Energy Dec 17          (83)          (76) -9%        (155)        (208) 25%
MI Veoneer Dec 17          (70)          (26) -169%        (163)          (56) -191%
CA Sunrun Dec 17          (54)          (68) 21%        (204)        (201) -1%
NY Revlon Dec 17          (49)          (44) -11%        (267)        (145) -84%
MI Whirlpool Dec 17          223          268 -17%        (277)          678 -141%
NY Veeco Instruments Dec 17            (9)          (26) 65%        (290)          (69) -320%
OH Babcock & Wilcox Dec 17          (10)        (120) 92%        (331)        (274) -21%
OH Diebold Nixdorf Dec 17        (173)          (30) -477%        (381)        (167) -128%
CO Maxar Technologies Ltd Dec 17        (437)            23 NM        (438)            60 -830%
CA Mattel Dec 17            73            61 20%        (475)        (158) -201%
CA Tesla Dec 17          271        (671) 140%     (1,237)     (1,429) 13%
DE DuPont Dec 17     (4,948)        (688) -919%     (4,482)       1,493 -400%
NJ Newell Brands Dec 17     (8,013)          (20) NM     (8,178)          572 -1530%
MA General Electric Dec 17   (22,736)          746 -3148%   (20,992)       1,820 -1253%
Total all 346 US Companies     30,817     63,684 -52%   155,344   178,024 -13%