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All 12 Maryland Cos With Stock Market Caps Above $1 Bil and Releasing Their December 2018 Quarter Earnings By February 13, 2019 Had Their Total Pretax Earnings Decline Precipitously By 54% in the December 2018 Quarter
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On the Other Hand, These Same 12 Maryland Cos Saw Their Total Pretax Earnings Increase Nicely in the First Three Quarters of 2018: Up By 20% in the September 2018 Quarter, Up By 11% in the June 2018 Quarter and Up By 27% in the 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 34 Maryland Companies with stock market caps sometime in 2018 of more than $1 Bil and with December 2018 Quarter Ends.
Of these 34 Maryland Companies, 12 of them have released their December 2018 Quarterly Earnings by February 13, 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 12 Maryland 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 | ||||||||
| Maryland 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 13, 2019 | End | End | Change | End | End | Change | End | End | Change | End | End | Change | |||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Lockheed Martin | 1,483 | 1,572 | -6% | 1,575 | 1,297 | 21% | 1,420 | 1,342 | 6% | 1,360 | 1,035 | 31% | |||
| T Rowe Price | 390 | 633 | -38% | 766 | 616 | 24% | 629 | 620 | 1% | 600 | 637 | -6% | |||
| WR Grace | 97 | 28 | 246% | 17 | 59 | -71% | 64 | 63 | 2% | 68 | 61 | 11% | |||
| Omega Healthcare Investors | 66 | 66 | 0% | 60 | (137) | NM | 83 | 68 | 22% | 89 | 110 | -19% | |||
| Walker & Dunlop | 65 | 67 | -3% | 51 | 55 | -7% | 53 | 56 | -5% | 44 | 56 | -21% | |||
| FederalRealtyInvestmentTrust | 56 | 53 | 6% | 64 | 109 | -41% | 66 | 78 | -15% | 63 | 58 | 9% | |||
| Eagle Bancorp | 54 | 51 | 6% | 53 | 47 | 13% | 50 | 45 | 11% | 48 | 42 | 14% | |||
| Colfax | 34 | (188) | NM | 50 | 63 | -21% | 61 | 62 | -2% | 38 | 51 | -25% | |||
| Sandy Spring Bancorp | 34 | 20 | 70% | 38 | 23 | 65% | 32 | 22 | 45% | 28 | 23 | 22% | |||
| Under Armour | (17) | (49) | NM | 106 | 52 | 104% | (122) | (16) | NM | (34) | 2 | NM | |||
| Legg Mason | (267) | (41) | NM | 111 | 126 | -12% | 109 | 92 | 18% | 124 | 103 | 20% | |||
| AGNC Investment Corp | (804) | 385 | -309% | 216 | 286 | -24% | 293 | 24 | NM | 424 | 76 | 458% | |||
| Total all 12 Maryland Cos | 1,191 | 2,597 | -54% | 3,107 | 2,596 | 20% | 2,738 | 2,456 | 11% | 2,852 | 2,254 | 27% |
