Of These 29 Texas Cos, 12 are Oil & Gas Cos, Which Saw Their Total Pretax Earnings Increase By 326% in the December 2018 Quarter. When Texas Oil & Gas Co Total Profits Increase By 326% Like This, Russia's Economy and Saudi Arabia's Economy, Which are Both Predominately Tied to Oil & Gas, Also Both Improve Precipitously in Lock-Step with Texas Oil & Gas Cos.
......................................................................
And Of These 29 Texas Cos, 17 are Non- Oil & Gas Cos, Which Saw Their Total Pretax Earnings Increase By 108% in the December 2018 Quarter
......................................................................
When You Have a Presidential Administration, Which Controls Both the US Senate and the US House, and Which Decides To Pick Winners and Losers, These Economic Results Are What You Get
......................................................................
From a review of company SEC filings and of MSN Money individual company common stock information, I found 53 Texas Companies with stock market caps sometime in 2018 of more than $10 Bil and with December 2018 Quarter Ends.
Of these 53 Texas Companies, 29 of them have released their December 2018 Quarterly Earnings by Yesterday, February 8, 2019.
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 chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for each quarter of 2018 as compared with that of the prior year quarter of 2017 for each of these 29 Texas Companies.
| US | US | US | US | US | US | US | US | ||||||||
| GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | ||||||||
| Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | ||||||||
| Income | Income | Income | Income | Income | Income | Income | Income | ||||||||
| Texas Cos | (Loss) | (Loss) | Better | (Loss) | (Loss) | Better | (Loss) | (Loss) | Better | (Loss) | (Loss) | Better | |||
| Market Caps Above $10 Bil | Dec 18 | Dec 17 | (Worse) | Sep 18 | Sep 17 | (Worse) | Jun 18 | Jun 17 | (Worse) | Mar 18 | Mar 17 | (Worse) | |||
| December 2018 Qtr Earnings | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | |||
| Released By February 8, 2019 | End | End | Change | End | End | Change | End | End | Change | End | End | Change | |||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Oil & Gas Cos | |||||||||||||||
| Exxon Mobil | 8,121 | 3,017 | 169% | 9,080 | 5,583 | 63% | 6,512 | 4,156 | 57% | 7,240 | 5,918 | 22% | |||
| Phillips 66 | 2,918 | 654 | 346% | 1,975 | 1,256 | 57% | 1,835 | 797 | 130% | 717 | 797 | -10% | |||
| ConocoPhillips | 2,672 | 1,325 | 102% | 2,906 | 653 | 345% | 2,619 | (4,361) | NM | 1,776 | (232) | NM | |||
| Enterprise Products Partners | 1,331 | 803 | 66% | 1,346 | 627 | 115% | 706 | 675 | 5% | 917 | 777 | 18% | |||
| Plains All America | 1,280 | 205 | 524% | 700 | (11) | NM | 84 | 199 | -58% | 349 | 510 | -32% | |||
| Valero Energy | 1,227 | 765 | 60% | 1,150 | 1,241 | -7% | 1,124 | 768 | 46% | 731 | 433 | 69% | |||
| Kinder Morgan | 775 | 324 | 139% | 1,201 | 547 | 120% | (176) | 599 | -129% | 706 | 691 | 2% | |||
| Schlumberger Ltd | 648 | (2,210) | NM | 787 | 677 | 16% | 547 | 17 | 3118% | 643 | 334 | 93% | |||
| Baker Hughes GE | 474 | (147) | NM | 148 | (243) | NM | 24 | (30) | NM | (105) | 74 | -242% | |||
| Halliburton | 458 | 244 | 88% | 534 | 496 | 8% | 633 | (1) | NM | 189 | (57) | NM | |||
| Anadarko Petroleum | 360 | (72) | NM | 683 | (1,066) | NM | 142 | (372) | NM | 300 | (178) | NM | |||
| National Oilwell Varco | 41 | (138) | NM | 33 | (40) | NM | 30 | (91) | NM | (63) | (133) | NM | |||
| Total 12 Texas Oil & Gas Cos | 20,305 | 4,770 | 326% | 20,543 | 9,720 | 111% | 14,080 | 2,356 | 498% | 13,400 | 8,934 | 50% | |||
| Non-Oil & Gas Cos | |||||||||||||||
| AT&T | 5,745 | (1,283) | NM | 6,207 | 4,974 | 25% | 6,780 | 6,070 | 12% | 6,141 | 5,378 | 14% | |||
| Texas Instruments | 1,503 | 1,550 | -3% | 1,924 | 1,789 | 8% | 1,706 | 1,486 | 15% | 1,553 | 1,255 | 24% | |||
| Southwest Air | 817 | 736 | 11% | 786 | 832 | -6% | 960 | 1,165 | -18% | 602 | 532 | 13% | |||
| LyondellBasell Industries | 796 | 1,342 | -41% | 1,347 | 1,438 | -6% | 1,634 | 1,593 | 3% | 1,534 | 1,120 | 37% | |||
| Kimberly Clark | 512 | 768 | -33% | 600 | 803 | -25% | 603 | 742 | -19% | 201 | 782 | -74% | |||
| Comerica | 400 | 330 | 21% | 381 | 334 | 14% | 419 | 302 | 39% | 335 | 268 | 25% | |||
| Alliance Data Systems | 397 | 306 | 30% | 353 | 334 | 6% | 255 | 214 | 19% | 219 | 227 | -4% | |||
| American Air Lines | 387 | 408 | -5% | 456 | 1,063 | -57% | 769 | 1,389 | -45% | 273 | 535 | -49% | |||
| D R Horton | 376 | 391 | -4% | 608 | 486 | 25% | 616 | 445 | 38% | 445 | 354 | 26% | |||
| Sysco Corp | 355 | 452 | -21% | 538 | 546 | -1% | 593 | 484 | 23% | 365 | 360 | 1% | |||
| Crown Castle | 218 | 113 | 93% | 169 | 118 | 43% | 185 | 117 | 58% | 118 | 123 | -4% | |||
| Torchmark | 204 | 216 | -6% | 220 | 221 | 0% | 227 | 202 | 12% | 213 | 192 | 11% | |||
| Atmos Energy | 201 | 208 | -3% | 64 | 55 | 16% | 98 | 112 | -13% | 241 | 259 | -7% | |||
| Celanese | 174 | 265 | -34% | 462 | 289 | 60% | 442 | 281 | 57% | 432 | 240 | 80% | |||
| Match Group | 135 | 102 | 32% | 122 | 62 | 97% | 143 | 54 | 165% | 87 | 34 | 156% | |||
| Jacobs Engineering Group | 92 | (7) | NM | 198 | 119 | 66% | 193 | 127 | 52% | 122 | 60 | 103% | |||
| Yum China Holdings | 65 | 56 | 16% | 279 | 272 | 3% | 203 | 175 | 16% | 403 | 300 | 34% | |||
| Total 17 Non-Oil & Gas Cos | 12,377 | 5,953 | 108% | 14,714 | 13,735 | 7% | 15,826 | 14,958 | 6% | 13,284 | 12,019 | 11% | |||
| Total all 29 Texas Cos | 32,682 | 10,723 | 205% | 35,257 | 23,455 | 50% | 29,906 | 17,314 | 73% | 26,684 | 20,953 | 27% |
