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All 28 North Carolina Cos With Stock Market Caps Above $1 Bil and Releasing Their December 2018 Quarter Earnings By February 22, 2019 Had Their Total Pretax Earnings Increase Precipitously By 46% in the December 2018 Quarter
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These 28 North Carolina Cos Saw Their Total Pretax Earnings Increase By 12% in Their September 2018 Quarter
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And These Same 28 North Carolina Cos Saw Their Total Pretax Earnings Increase By Only 3% in Their June 2018 Quarter
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From a review of company SEC filings and of MSN Money individual company common stock information, I found 36 North Carolina Companies with stock market caps sometime in 2018 of more than $1 Bil and with December 2018 Quarter Ends.
Of these 36 North Carolina Companies, 28 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 28 North Carolina 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) | ||||||||
| North Carolina 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 $ | ||||||||
| Bank of America | 8,698 | 6,161 | 41% | 8,994 | 7,611 | 18% | 8,498 | 8,121 | 5% | 8,394 | 7,320 | 15% | |||
| Brighthouse Financial | 1,787 | (222) | NM | (368) | (124) | NM | (317) | 321 | -199% | (113) | (590) | NM | |||
| BB&T Corp | 1,010 | 876 | 15% | 1,049 | 942 | 11% | 1,024 | 978 | 5% | 977 | 530 | 84% | |||
| Nucor Corp | 877 | 322 | 172% | 923 | 371 | 149% | 914 | 508 | 80% | 516 | 549 | -6% | |||
| V F Corp | 566 | 460 | 23% | 599 | 551 | 9% | 186 | 136 | 37% | 294 | 269 | 9% | |||
| Duke Energy | 433 | 866 | -50% | 1,230 | 1,321 | -7% | 607 | 1,018 | -40% | 803 | 1,061 | -24% | |||
| Ingersoll Rand plc | 377 | 325 | 16% | 530 | 445 | 19% | 587 | 492 | 19% | 167 | 156 | 7% | |||
| Old Dominion Freight Line | 217 | 144 | 51% | 229 | 165 | 39% | 221 | 160 | 38% | 147 | 107 | 37% | |||
| Laboratory Corp of America | 215 | 266 | -19% | 500 | 267 | 87% | 313 | 279 | 12% | 242 | 265 | -9% | |||
| Hanesbrands | 190 | 69 | 175% | 197 | 208 | -5% | 165 | 183 | -10% | 94 | 78 | 21% | |||
| Albemarle | 157 | 171 | -8% | 177 | 149 | 19% | 391 | 137 | 185% | 159 | 75 | 112% | |||
| Sealed Air | 119 | 119 | 0% | 109 | 106 | 3% | 117 | 85 | 38% | 114 | 83 | 37% | |||
| Martin Marietta Materials | 116 | 164 | -29% | 209 | 204 | 2% | 238 | 194 | 23% | 12 | 57 | -79% | |||
| First Citizens Bancshares | 116 | 123 | -6% | 134 | 104 | 29% | 123 | 212 | -42% | 131 | 105 | 25% | |||
| Premier Inc | 107 | 251 | -57% | 93 | 73 | 27% | 102 | 88 | 16% | 90 | 79 | 14% | |||
| IQVIA Holdings | 106 | 36 | 194% | 53 | 90 | -41% | 92 | 52 | 77% | 92 | 126 | -27% | |||
| Qorvo | 71 | 65 | 9% | 33 | 36 | -8% | (62) | (40) | NM | (44) | (37) | NM | |||
| Highwoods Properties | 55 | 59 | -7% | 35 | 60 | -42% | 53 | 40 | 33% | 34 | 33 | 3% | |||
| JELD-WEN Holding | 44 | 12 | 267% | 59 | 64 | -8% | 59 | 64 | -8% | 36 | 9 | 300% | |||
| SPX Corp | 35 | (2) | NM | 9 | 27 | -67% | 20 | (2) | NM | 16 | 13 | 23% | |||
| First Bancorp | 30 | 20 | 50% | 28 | 20 | 40% | 29 | 17 | 71% | 27 | 11 | 145% | |||
| SPX FLOW | 23 | 30 | -23% | 42 | 23 | 83% | 35 | 13 | 169% | 16 | (7) | NM | |||
| Tanger Factory Outlet Centers | 21 | 33 | -36% | (23) | (16) | NM | 24 | 31 | -23% | 24 | 24 | 0% | |||
| James River Group Hldgs Ltd | 13 | 6 | 117% | 22 | 14 | 57% | 19 | 16 | 19% | 17 | 20 | -15% | |||
| Live Oak Bancshares | 7 | 73 | -90% | 11 | 8 | 38% | 15 | 10 | 50% | 12 | 7 | 71% | |||
| Cree Inc | 2 | 0 | 375% | (9) | (15) | NM | (25) | (4) | NM | (278) | (10) | NM | |||
| Enpro Industries | (17) | 16 | -206% | 25 | 541 | -95% | 14 | 11 | 27% | 25 | 9 | 178% | |||
| CommScope Holdings | (44) | 26 | -269% | 66 | 68 | -3% | 103 | 80 | 29% | 46 | 36 | 28% | |||
| Total all 28 North Carolina Cos | 15,331 | 10,469 | 46% | 14,956 | 13,313 | 12% | 13,545 | 13,200 | 3% | 12,050 | 10,378 | 16% |
