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All 15 Arizona Cos With Stock Market Caps Above $1 Bil and Releasing Their December 2018 Quarter Earnings By February 11, 2019 Had Their Total Pretax Earnings Decline Precipitously By 54% in the December 2018 Quarter
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These Same 15 Arizona Cos Saw Their Total Pretax Earnings Increase By 24% in Their September 2018 Quarter
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These Same 15 Arizona Cos Saw Their Total Pretax Earnings Increase By 54% in Their June 2018 Quarter
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And These Same 15 Arizona Cos Saw Their Total Pretax Earnings Increase By 75% in Their March 2018 Quarter
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From a review of company SEC filings and of MSN Money individual company common stock information, I found 31 Arizona Companies with stock market caps sometime in 2018 of more than $1 Bil and with December 2018 Quarter Ends.
Of these 31 Arizona Companies, 15 of them have released their December 2018 Quarterly Earnings by February 11, 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 15 Arizona 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 | ||||||||
| Arizona Companies | (Loss) | (Loss) | Better | (Loss) | (Loss) | Better | (Loss) | (Loss) | Better | (Loss) | (Loss) | Better | |||
| Market Caps Above $1 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 11, 2019 | End | End | Change | End | End | Change | End | End | Change | End | End | Change | |||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Republic Services | 357 | 296 | 21% | 340 | 357 | -5% | 313 | 333 | -6% | 311 | 296 | 5% | |||
| Knight-Swift Transportation | 203 | 138 | 47% | 141 | 3 | NM | 119 | 29 | 310% | 90 | 23 | 291% | |||
| ON Semiconductor | 189 | 121 | 56% | 216 | 168 | 29% | 193 | 143 | 35% | 157 | 115 | 37% | |||
| Western Alliance Bancorp | 140 | 124 | 13% | 119 | 118 | 1% | 130 | 112 | 16% | 122 | 98 | 24% | |||
| Carlisle Cos | 100 | 81 | 23% | 122 | 124 | -2% | 146 | 140 | 4% | 78 | 84 | -7% | |||
| Meritage Homes | 92 | 84 | 10% | 71 | 63 | 13% | 71 | 63 | 13% | 49 | 37 | 32% | |||
| Versum Materials | 83 | 76 | 9% | 87 | 59 | 47% | 84 | 69 | 22% | 77 | 58 | 33% | |||
| Avnet | 65 | 62 | 5% | 115 | 61 | 89% | 94 | 55 | 71% | (72) | 106 | -168% | |||
| Amkor Technology | 58 | 88 | -34% | 72 | 82 | -12% | 44 | 153 | -71% | 13 | (15) | NM | |||
| Microchip Technology | 55 | 197 | -72% | (39) | 186 | -121% | 38 | 166 | -77% | 188 | 72 | 161% | |||
| Mobile Mini | 28 | 28 | 0% | (72) | 18 | -500% | 18 | 13 | 38% | 20 | 15 | 33% | |||
| Cavco Industries | 17 | 24 | -29% | 20 | 8 | 150% | 24 | 16 | 50% | 31 | 17 | 82% | |||
| Benchmark Electronics | 15 | 21 | -29% | 10 | 20 | -50% | 13 | 21 | -38% | 18 | 10 | 80% | |||
| Viad | (2) | (9) | NM | 50 | 66 | -24% | 33 | 38 | -13% | (16) | 10 | -260% | |||
| Freeport McMoran | (178) | 1,329 | -113% | 1,190 | 629 | 89% | 1,554 | 512 | 204% | 1,334 | 442 | 202% | |||
| Total all 15 Arizona Cos | 1,222 | 2,660 | -54% | 2,442 | 1,962 | 24% | 2,874 | 1,863 | 54% | 2,400 | 1,368 | 75% |
