Both Washington DC and Virginia Companies Total Pretax Earnings Drop Sharply in the December 2018 Quarter

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All 5 Washington DC Cos Excluding Fannie Mae With Stock Market Caps Above $1 Bil and Releasing Their December 2018 Quarter Earnings By February 19, 2019 Saw Their Total Pretax Earnings Decline By 36% in the December 2018 Quarter and By 2% in the September 2018 Quarter

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All 32 Virginia Cos Excluding Freddie Mac With Stock Market Caps Above $1 Bil and Releasing Their December 2018 Quarter Earnings By February 19, 2019 Saw Their Total Pretax Earnings Decline By 14% in the December 2018 Quarter, a Sharp Negative Earnings Reversal From Their 23% Increase in the September 2018 Quarter

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So, DC Area Companies Total Pretax Earnings Dropped Sharply Across the Board in the December 2018 Quarter, Since in a Very Recent Post, I also Disclosed that Maryland Companies Total Pretax Earnings Dropped Precipitously By 54% in the December 2018 Quarter, a Very Sharp Negative Earnings Reversal From Their 20% Increase in the September 2018 Quarter
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But it Gets Even Worse!
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DC-Based Giant Fannie Mae Posted Pretax Earnings Which Declined By 18% in the December 2018 Quarter, a Reversal From the Pretax Earnings Increases in Each of the First Three Quarters of 2018: Up By 11% in the September 2018 Quarter, Up By 17% in the June 2018 Quarter and Up By 30% in the March 2018 Quarter
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And McLean, Virginia-Based Freddie Mac Saw Its Pretax Earnings Collapse in the Most Recent Two Quarters.  Freddie Mac Posted Very Nice Pretax Earnings Increases of 11% in the March 2018 Quarter and of 26% in the June 2018 Quarter.  Then the S*** Hit the Fan, With Freddie Mac's Pretax Earnings Declining Precipitously By 55% in the September 2018 Quarter and Declining By an Even Higher 64% in the December 2018 Quarter  
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From a review of company SEC filings and of MSN Money individual company common stock information, I found 9 Washington DC Companies with stock market caps sometime in 2018 of more than $1 Bil and with December 2018 Quarter Ends.

Of these 9 Washington DC Companies, 6 of them have released their December 2018 Quarterly Earnings by February 19, 2019.

I also found 59 Virginia Companies with stock market caps sometime in 2018 of more than $1 Bil and with December 2018 Quarter Ends.

Of these 59 Virginia Companies, 33 of them have released their December 2018 Quarterly Earnings by February 19, 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 6 Washington DC Companies and 33 Virginia 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
	(Loss)	(Loss)			(Loss)	(Loss)			(Loss)	(Loss)			(Loss)	(Loss)
	Dec	Dec	Better		Sept	Sept	Better		June	June	Better		March	March	Better
Washington DC & Virginia Cos	2018	2017	(Worse)		2018	2017	(Worse)		2018	2017	(Worse)		2018	2017	(Worse)
December 2018 Qtr Earnings	Quarter	Quarter	%		Quarter	Quarter	%		Quarter	Quarter	%		Quarter	Quarter	%
Released By February 19, 2019	End	End	Change		End	End	Change		End	End	Change		End	End	Change
	mils $	mils $			mils $	mils $			mils $	mils $			mils $	mils $
Washington DC Cos
Fannie Mae	4,058	4,956	-18%		5,056	4,548	11%		5,593	4,787	17%		5,392	4,156	30%
Danaher	943	979	-4%		801	730	10%		835	645	29%		713	585	22%
Vanda Pharmaceuticals	10	(2)	NM		7	(5)	NM		5	(2)	NM		3	(8)	NM
Washington REIT	6	2	200%		6	3	100%		11	8	38%		3	7	-57%
The Carlyle Group LP	(79)	395	-120%		61	166	-63%		253	244	4%		125	328	-62%
WGL Holdings	N/A	N/A	N/A		(274)	5	NM		(18)	6	-395%		159	189	-16%
Total all 5 DC Cos No Fannie Mae	880	1,374	-36%		875	894	-2%		1,104	896	23%		844	912	-7%
Total all 6 DC Cos with Fannie Mae	4,938	6,330	-22%		5,931	5,442	9%		6,697	5,683	18%		6,236	5,068	23%
Virginia Cos
….. Northern Virginia Cos
Freddie Mac	1,393	3,822	-64%		3,262	7,190	-55%		3,145	2,501	26%		3,674	3,321	11%
Capital One Financial	1,243	1,308	-5%		1,921	1,585	21%		2,492	1,490	67%		1,662	1,109	50%
General Dynamics	1,132	1,008	12%		1,023	1,027	0%		970	1,032	-6%		960	1,010	-5%
Willis Towers Watson	477	80	496%		36	(35)	NM		74	49	51%		264	398	-34%
DXC Technology	469	341	38%		332	284	17%		360	91	296%		661	(187)	NM
Northop Grumman	403	1,309	-69%		1,237	782	58%		849	812	5%		871	788	11%
AvalonBay Community	386	237	63%		192	238	-19%		255	165	55%		142	236	-40%
NVR Inc	277	261	6%		250	244	2%		242	209	16%		191	132	45%
Hilton Worldwide	266	181	47%		293	256	14%		298	250	19%		221	66	235%
Verisign	234	142	65%		178	150	19%		165	160	3%		152	148	3%
Leidos Holding	150	34	341%		170	116	47%		165	135	22%		125	108	16%
Booz Allen Hamilton	140	106	32%		120	111	8%		137	107	28%		112	108	4%
CACI Intl	93	77	21%		91	56	63%		71	68	4%		94	55	71%
Maximus	76	80	-5%		62	78	-21%		85	83	2%		72	80	-10%
ePLUS	21	16	31%		25	29	-14%		21	21	-1%		18	19	-5%
MicroStrategy Inc	2	18	-89%		11	21	-48%		6	13	-53%		1	20	-94%
Beacon Roofing Supply	(0)	27	-100%		71	74	-4%		67	71	-6%		(97)	(15)	NM
Engility Holdings	N/A	N/A	N/A		10	16	-38%		18	15	20%		8	13	-38%
All 17 Cos No Freddie Mac	5,369	5,225	3%		6,022	5,032	20%		6,275	4,770	32%		5,457	4,088	33%
Total 18 NoVA Cos with Freddie Mac	10,848	9,047	20%		9,284	12,222	-24%		9,420	7,271	30%		9,131	7,409	23%
….. Southern Virginia Cos
Altria Group	1,710	2,183	-22%		2,608	2,644	-1%		2,557	2,910	-12%		2,466	2,091	18%
Norfolk Southern	930	893	4%		908	800	14%		924	780	18%		707	655	8%
Dominion Energy	757	620	22%		1,145	968	18%		566	553	2%		661	949	-30%
Huntington Ingalls Industries	219	187	17%		295	220	34%		262	218	20%		195	147	33%
NewMarket	71	65	9%		68	77	-12%		70	85	-18%		81	88	-8%
Advance Auto Parts	70	74	-5%		147	144	2%		157	136	15%		181	166	9%
Performance Food Group	56	34	65%		35	36	-3%		79	67	18%		45	33	36%
Union Bankshares	53	27	96%		46	28	64%		61	24	154%		19	26	-27%
Brink's Co	51	58	-12%		42	38	11%		(89)	31	-387%		37	55	-33%
TowneBank	47	35	34%		48	40	20%		45	40	13%		32	32	0%
Universal Corp	39	62	-37%		50	42	19%		6	3	100%		59	56	5%
Trex Co	33	25	32%		39	30	30%		57	44	30%		47	42	12%
Genworth Financial	(413)	(290)	NM		273	286	-5%		360	401	-10%		228	332	-31%
Markel	(930)	144	NM		519	(360)	NM		361	210	72%		43	94	-54%
DominionEnergyMidstreamLP	N/A	N/A	N/A		159	35	354%		132	32	313%		34	54	-37%
Total 15 Southern Virginia Cos	2,693	4,117	-35%		6,382	5,028	27%		5,548	5,534	0%		4,835	4,820	0%
Total 32 Virginia Cos No Freddie	8,062	9,342	-14%		12,404	10,060	23%		11,823	10,304	15%		10,292	8,908	16%
Total 33 Virginia Cos with Freddie	9,455	13,164	-28%		15,666	17,250	-9%		14,968	12,805	17%		13,966	12,229	14%