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All 20 New York Basic Manufacturing Cos With Stock Market Caps Above $1 Bil and Releasing Their December 2018 Quarter Earnings By February 15, 2019 Saw Their Total Pretax Earnings Increase By 17% in the June 2018 Quarter and By 6% in the September 2018 Quarter
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Then in Their December 2018 Quarter, These Same 20 New York Basic Manufacturing Cos Experienced a Total Pretax Earnings Decline of 21%, Matching the 21% Decline 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 30 New York Manufacturing Companies with stock market caps
sometime in 2018 of more than $1 Bil and with December 2018 Quarter Ends.
I define the key US Basic Manufacturing Companies as all US
Companies with Standard Industrial Classification Codes (SICs) in the 2000s and
3000s filing with the US SEC excluding all Oil & Gas Companies, all Technology
Companies, all Health Care Companies and all dominantly US Defense
Contractors.
Of
these 30 New York Basic Manufacturing Companies, 20 of them have released their
December 2018 Quarterly Earnings by February 15, 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 20 New York Basic Manufacturing
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) | ||||||||
| New York Manufacturing Cos | Dec | Dec | Better | Sept | Sept | Better | June | June | Better | March | March | Better | |||
| December 2018 Qtr Earnings | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | |||
| Released By February 15, 2019 | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | |||
| Market Caps Above $1 Bil | End | End | Change | End | End | Change | End | End | Change | End | End | Change | |||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Philip Morris | 2,554 | 3,061 | -17% | 3,032 | 2,857 | 6% | 2,939 | 2,531 | 16% | 2,206 | 2,199 | 0% | |||
| PepsiCo | 1,935 | 2,331 | -17% | 2,697 | 2,776 | -3% | 2,900 | 2,774 | 5% | 1,657 | 1,721 | -4% | |||
| Colgate Palmolive | 832 | 896 | -7% | 820 | 900 | -9% | 888 | 829 | 7% | 924 | 862 | 7% | |||
| Estee Lauder | 748 | 690 | 8% | 633 | 549 | 15% | 261 | 207 | 26% | 480 | 407 | 18% | |||
| Tapestry | 368 | 324 | 14% | 145 | (42) | NM | 173 | 179 | -3% | 142 | 147 | -3% | |||
| Corning Inc | 346 | 566 | -39% | 758 | 479 | 58% | 864 | 592 | 46% | (465) | 20 | NM | |||
| Arconic | 249 | 172 | 45% | 249 | 172 | 45% | 194 | 269 | -28% | 199 | 484 | -59% | |||
| Capri Holdings Ltd | 241 | 278 | -13% | 152 | 239 | -36% | 206 | 150 | 37% | 74 | (41) | NM | |||
| Ralph Lauren | 200 | 186 | 8% | 215 | 191 | 13% | 133 | 87 | 53% | 25 | (269) | NM | |||
| Xylem | 179 | 142 | 26% | 161 | 131 | 23% | 150 | 121 | 24% | 95 | 70 | 36% | |||
| News Corp | 174 | 169 | 3% | 178 | 141 | 26% | (292) | (408) | NM | (1,107) | 45 | NM | |||
| Ubiquiti Networks | 88 | 64 | 38% | 97 | 86 | 13% | 85 | 70 | 21% | 80 | 72 | 11% | |||
| New York Times | 80 | 5 | 1500% | 35 | 60 | -42% | 34 | 22 | 55% | 27 | 24 | 13% | |||
| Intl Flavors & Fragrances | 66 | 115 | -43% | 101 | 141 | -28% | 122 | 142 | -14% | 159 | 138 | 15% | |||
| Moog | 58 | 48 | 21% | 55 | 49 | 12% | 55 | 48 | 15% | 26 | 48 | -46% | |||
| Minerals Technologies | 49 | 35 | 40% | 53 | 55 | -4% | 55 | 57 | -4% | 50 | 46 | 9% | |||
| Standard Motor Products | 16 | 14 | 14% | 26 | 27 | -4% | 22 | 30 | -27% | 12 | 26 | -54% | |||
| Griffon | 14 | (2) | NM | 24 | 4 | 500% | 9 | 5 | 100% | 3 | 4 | -25% | |||
| Hain Celestial Group | (25) | 25 | -200% | (32) | 26 | -223% | 6 | 1 | 500% | 24 | 42 | -43% | |||
| COTY Inc | (878) | 111 | -891% | (88) | (41) | NM | (166) | (340) | NM | (56) | (253) | NM | |||
| Total all 20 Manufacturing Cos | 7,294 | 9,230 | -21% | 9,311 | 8,800 | 6% | 8,638 | 7,366 | 17% | 4,555 | 5,792 | -21% |
