Wednesday, March 27, 2019

All 16 Largest US Services Cos With Stock Market Caps Above $10 Bil Total Pretax Earnings Declined By 20% in the Fourth Quarter of 2018

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From a review of SEC filings and individual Company information in MSN Money, I found 16 US Services Companies with stock market caps sometime in 2018 of more than $10 Bil.

The Services Cos below do not include ones which are also mainly Technology, Health Care, Financial, Oil & Gas, Manufacturing, Retail and Wholesale Cos.


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 Total Pretax Income (Loss) From Continuing Operations for the December 2018 (Jan 2019, Dec 2018 and Feb 2018), the December 2017, the September 2018 and the September 2017 Quarters for each of these 16 Largest US Services Cos.


US US US US
GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax
Income Income Income Income
(Loss) (Loss) (Loss) (Loss)
Qtr Qtr Qtr Qtr
Ended  Ended  Ended  Ended 
Nov 18 Nov 17 Aug 18 Aug 17
US US Services Cos Dec 18 Dec 17 Sept 18 Sept 17
State Stock Market Caps > $10 Bil or or % or or %
HQs Jan 19, Dec 18 and Nov 18 Quarter Ends Jan 19 Jan 18 Change Oct 18 Oct 17 Change
mils $ mils $ mils $ mils $
NY Accenture plc         1,610         1,494 8%       1,457       1,292 13%
NY Omnicom Group            574            577 -1%          447          419 7%
CA CBRE Group            496            428 16%          387          277 40%
NY Interpublic Group of Cos            405            404 0%          224          227 -1%
GA Fleetcor Technologies            397            208 91%          238          328 -27%
TX Alliance Data Systems            397            306 30%          353          334 6%
NY Paychex            309            305 1%          323          319 1%
CO Vail Resorts            282            252 12%        (147)        (125) NM
WI Johnson Controls Intl plc            244            170 44%          892       1,062 -16%
 NY  MSCI Inc            187            127 47%          147          121 21%
CT Gartner            111              28 296%            38          (62) NM
GA Rollins Inc              71              69 3%            90            83 8%
GA Equifax              25            172 -85%            39          136 -71%
CA Live Nation Entertainment           (130)           (233) NM          200          174 15%
FL ADT Inc           (153)             (87) NM        (243)          (69) NM
NY Nielsen Holdings        (1,273)            246 -617%          157          242 -35%
Total all 16 US Services Cos         3,552         4,466 -20%       4,602       4,758 -3%