Florida Companies Total Pretax Earnings Deteriorate Substantially During 2018

......................................................................

All 43 Florida Companies With Stock Market Caps Above $1 Bil Releasing Their December 2018 Earnings By February 22, 2019 Saw Their Total Pretax Earnings Increase Precipitously By 59% in the March 2018 Quarter 

......................................................................

Then This Total Pretax Earnings Growth Decelerated Sharply Down to an Increase of 12% in Both the June 2018 Quarter and the September 2018 Quarter

......................................................................

And Then This Earnings Growth Reversed Course, Resulting in a Total Pretax Earnings Decline of 10% in the December 2018 Quarter 

......................................................................

From a review of company SEC filings and of MSN Money individual company common stock information, I found 65 Florida Companies with stock market caps sometime in 2018 of more than $1 Bil and with December 2018 Quarter Ends.

Of these 65 Florida Companies, 43 of them have released their December 2018 Quarterly Earnings by February 22, 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 43 Florida 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)
Florida Companies	Dec	Dec	Better		Sept	Sept	Better		June	June	Better		March	March	Better
Stock Market Caps Above $1 Bil	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 22, 2019	End	End	Change		End	End	Change		End	End	Change		End	End	Change
	mils $	mils $			mils $	mils $			mils $	mils $			mils $	mils $
CSX Corp	1,098	983	12%		1,150	750	53%		1,144	827	38%		912	582	57%
Fidelity Natl Info Services	396	363	9%		200	119	68%		269	283	-5%		224	209	7%
Restaurant Brands Intl	386	325	19%		342	285	20%		373	286	30%		281	204	38%
Raymond James Financial	330	311	6%		344	282	22%		318	277	15%		331	161	106%
Royal Caribbean	320	288	11%		810	753	8%		466	370	26%		219	215	2%
Roper Technologies	318	303	5%		312	265	18%		313	255	23%		255	211	21%
Utility Nextera Energy	289	84	244%		1,069	1,220	-12%		931	1,093	-15%		5,080	2,266	124%
Harris Corp	271	225	20%		257	228	13%		251	234	7%		215	233	-8%
Citrix Systems	188	182	3%		159	134	19%		131	114	15%		151	120	26%
Norwegian Cruise Line	151	94	61%		481	407	18%		232	205	13%		106	64	66%
AutoNation	129	174	-26%		145	158	-8%		130	145	-10%		126	160	-21%
Spirit Airlines	121	82	48%		129	95	36%		15	123	-88%		(60)	51	-218%
Ryder System	111	79	41%		116	94	23%		98	81	21%		48	61	-21%
Brown & Brown	101	106	-5%		143	124	15%		101	108	-6%		119	111	7%
WellCare Health Plans	89	9	889%		215	235	-9%		230	115	100%		159	103	54%
Landstar System	85	69	23%		86	60	43%		83	60	38%		74	51	45%
Mednax	81	108	-25%		90	108	-17%		110	104	6%		87	90	-3%
Regency Centers	80	76	5%		71	64	11%		49	50	-2%		53	(21)	NM
SBA Communications	73	11	564%		14	53	-74%		(76)	13	-685%		40	41	-2%
Tupperware Brands	72	77	-6%		57	56	2%		89	(13)	NM		58	64	-9%
BankUnited	69	119	-42%		119	100	19%		117	95	23%		111	90	23%
CenterState Bank	66	31	113%		50	34	47%		40	21	90%		41	24	71%
Fidelity National Financial	62	223	-72%		288	245	18%		276	302	-9%		129	129	0%
Watsco	58	60	-3%		121	112	8%		137	128	7%		53	47	13%
Black Knight	50	61	-18%		54	53	2%		47	38	24%		55	40	38%
World Fuel Services	43	(137)	NM		62	45	38%		42	35	20%		38	36	6%
National Retail Properties	37	72	-49%		82	61	34%		71	58	22%		103	74	39%
GEO Group	35	49	-29%		43	40	8%		41	32	28%		40	43	-7%
Bluegreen Vacations	26	29	-10%		33	34	-3%		39	43	-9%		31	31	0%
Ultimate Software Group	24	20	20%		17	14	21%		21	7	200%		22	3	633%
Seacoast Banking Corp Florida	21	33	-36%		21	22	-5%		22	12	83%		24	12	100%
Welbilt	20	37	-46%		40	45	-11%		17	30	-43%		13	7	86%
Masonite Intl	17	32	-47%		32	37	-14%		44	37	19%		29	24	21%
Rayonier Advanced Materials	17	297	-94%		49	23	113%		72	7	929%		34	18	89%
Bloomin Brands	10	3	233%		1	2	-50%		22	39	-44%		68	68	0%
Rayonier	7	72	-90%		39	32	22%		46	38	21%		50	41	22%
Advanced Disposal Services	4	2	73%		(6)	7	-186%		13	(0)	NM		3	(12)	NM
Fresh Del Monte Produce	(30)	(1)	NM		(21)	15	-240%		1	77	-99%		49	53	-8%
Therapeutics MD	(39)	(21)	NM		(36)	(15)	NM		(33)	(20)	NM		(24)	(21)	NM
Affiliated Managers Group	(64)	264	-124%		250	283	-12%		239	267	-10%		288	253	14%
NextEra Energy Partners LP	(124)	58	-314%		125	71	76%		275	78	253%		(2)	72	-103%
ARMOUR Residential REIT	(212)	71	-399%		48	28	71%		14	30	-53%		45	53	-15%
FCB Financial Holdings	N/A	N/A	N/A		57	46	24%		56	43	30%		48	43	12%
Total all 43 Florida Cos	4,786	5,323	-10%		7,658	6,824	12%		6,876	6,127	12%		9,726	6,104	59%