Monday, March 11, 2019

All 398 US Basic Manufacturing Companies With Stock Market Caps Above $1 Bil and With December 2018 Quarter Ends Saw Their Total Pretax Earnings Go Completely Down the Tubes in Both the 4Q 2018 (Down 31%) and the 3Q 2018 (Down 41%), After Being Up 10% in the 2Q 2018

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The 100 Largest US Basic Manufacturing Companies with stock market caps above $10 Bil posted Total Pretax Income in the June 2018 Quarter which increased by 10% over that in the June 2017 Quarter
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In similar fashion, the 298 Smaller US Manufacturing Companies with stock market caps of $1-10 Bil posted Total Pretax Income in the June 2018 Quarter which increased by 11% over that in the June 2017 Quarter
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Then the S*** Hit the Fan Across the Board For US Manufacturing Cos of all sizes
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The 100 Largest US Basic Manufacturing Cos then posted huge Back-to-Back Total Pretax Income declines of 47% in the September 2018 Quarter and of 29% in the December 2018 Quarter
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The 298 Smaller US Basic Manufacturing then posted a Total Pretax Income decline of 15% in the September 2018 Quarter followed by a substantial decline of 38% in the December 2018 Quarter
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From a review of SEC filings and individual Company information in  MSN Money, I found 405 US Basic Manufacturing Companies with December 2018 quarter ends and with stock market caps sometime in 2018 of more than $1 Bil.

Of these 405 Cos, 7 of them haven't released their December 2018 quarter earnings by March 8, 2019, which leaves 398 Cos.

Of these 398 Cos, 100 of them had stock market caps above $10 Bil sometime in 2018. 

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 clearly Oil & Gas Companies, all clearly Technology Companies, all clearly Health Care Companies and all predominately US Defense Contractors.  


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 Quarter as compared with the December 2017 quarter, for the September 2018 Quarter as compared with the September 2017 Quarter and for the June 2018 Quarter as compared with the June 2017 Quarter for each of these 398 US Basic Manufacturing Companies.

GE Industrials included below excludes GE Financial Services.

Maxar Technologies Ltd included below shows its US GAAP Net Income for each quarter since its US GAAP Pretax Income wasn't disclosed for either its September 2017 Quarter or its June 2017 Quarter.

US
US
US
US
US
US
GAAP
GAAP
GAAP
GAAP
GAAP
GAAP
Pretax
Pretax
Pretax
Pretax
Pretax
Pretax
Income
Income
Income
Income
Income
Income
US Manufacturing Cos
(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)
December 2018 Qtr Earnings
Quarter
Quarter
%
Quarter
Quarter
%
Quarter
Quarter
%
Released By March 8, 2019
End
End
 Change
End
End
 Change
End
End
 Change
mils $
mils $
mils $
mils $
mils $
mils $
Largest US Manufacturing Cos
Market Caps Above $10 Bil
Boeing         4,046         2,917 39%       2,133       2,583 -17%       2,586       2,462 5%
Procter & Gamble         3,916         4,033 -3%       3,940       3,751 5%       2,289       2,927 -22%
Philip Morris         2,554         3,061 -17%       3,032       2,857 6%       2,939       2,531 16%
PepsiCo         1,935         2,331 -17%       2,697       2,776 -3%       2,900       2,774 5%
United Technologies         1,788         1,705 5%       1,768       1,940 -9%       2,834       2,064 37%
3M         1,720         1,672 3%       1,965       1,997 -2%       2,350       2,142 10%
Honeywell         1,720         1,667 3%       1,858       1,778 4%       1,999       1,778 12%
Altria Group         1,710         2,183 -22%       2,608       2,644 -1%       2,557       2,910 -12%
Mondelez Intl         1,507         1,254 20%       1,507       1,254 20%          339          584 -42%
General Motors         1,433         3,022 -53%       2,630       2,430 8%       2,885       2,967 -3%
Caterpillar         1,367         1,111 23%       2,135       1,523 40%       2,195       1,164 89%
GE Industrials            965           (883) NM   (22,792)          956 NM       1,334       1,322 1%
Danaher            943            979 -4%          801          730 10%          835          645 29%
Nucor Corp            877            322 172%          923          371 149%          914          508 80%
Colgate Palmolive            832            896 -7%          820          900 -9%          888          829 7%
Illinois Tool Works            816            796 3%          835          906 -8%          894          819 9%
LyondellBasell Industries            796         1,342 -41%       1,347       1,438 -6%       1,634       1,593 3%
Coca-Cola            787            937 -16%       2,847       1,674 70%       2,883       2,624 10%
Paccar            752            604 25%          669          582 15%          720          539 34%
Estee Lauder            748            690 8%          633          549 15%          261          207 26%
DowDuPont            728        (2,874) NM          855       1,125 -24%       2,368       1,814 31%
Eaton Corp plc            726            635 14%          439       1,694 -74%          694          572 21%
Tyson Foods            713            842 -15%          757          580 31%          723          617 17%
Cummins            710            596 19%          805          622 29%          715          599 19%
Emerson Electric            591            503 17%          738          685 8%          768          621 24%
V F Corp            566            460 23%          599          551 9%          186          136 37%
Ecolab            548            548 0%          482          526 -8%          458          377 21%
Kimberly Clark            512            768 -33%          600          803 -25%          603          742 -19%
Air Products & Chemicals            489            455 7%          529          479 10%          552          196 182%
International Paper            461            261 77%          645          502 28%          420            (3) NM
Amphenol            432            379 14%          420          358 17%          382          317 21%
Parker Hannifin            431            360 20%          460          374 23%          498          401 24%
Ingersoll Rand plc            377            325 16%          530          445 19%          587          492 19%
Tapestry            368            324 14%          145          (42) NM          173          179 -3%
CNH Industrial NV            363            182 99%          362          122 197%          526          346 52%
Keurig Dr Pepper            358            182 97%          194          163 19%            99            89 11%
Corning Inc            346            566 -39%          758          479 58%          864          592 46%
Hershey            344            260 32%          357          401 -11%          260          281 -7%
PPG Industries            342            377 -9%          451          523 -14%          479          659 -27%
Steel Dynamics            341            161 112%          507          234 117%          475          235 102%
Lear Corp            322            378 -15%          332          393 -16%          453          400 13%
Roper Technologies            318            303 5%          312          265 18%          313          255 23%
Archer Daniels Midland            312            543 -43%          632          225 181%          652          383 70%
Monster Beverage            311            268 16%          343          321 7%          358          347 3%
Aptiv plc            299            357 -16%          297          337 -12%          386          344 12%
Textron            278            223 25%          628          203 209%          260          215 21%
Masco            268            148 81%          262          264 -1%          312          262 19%
Fortive Corp            267            287 -7%          296          348 -15%          356          326 9%
BorgWarner            267            206 30%          283          274 3%          315          297 6%
Packaging Corp of America            265            224 18%          274          217 26%          245          209 17%
Ametek            259            198 31%          245          204 20%          248          203 22%
Whirlpool            256            209 22%          223          268 -17%        (609)          212 -387%
TransDigm Group            250            191 31%          282          247 14%          266          236 13%
Arconic            249            172 45%          249          172 45%          194          269 -28%
Capri Holdings Ltd            241            278 -13%          152          239 -36%          206          150 37%
Garmin Ltd            232            184 26%          201          190 6%          236          234 1%
Tesla            232           (780) NM          271        (671) NM        (729)        (386) NM
Mettler-Toledo            230            194 19%          160          140 14%          144          127 13%
Snap-On            229            197 16%          219          194 13%          239          224 7%
Clorox            224            227 -1%          268          279 -4%          306          295 4%
Stanley Black & Decker            222            342 -35%          305          354 -14%          294          358 -18%
Spirit AeroSystems            218            218 0%          206          203 1%          181          (92) NM
Alcoa            216            369 -41%          406          288 41%          410          237 73%
WestRock            203              60 238%          375          246 52%          356          387 -8%
Owens-Corning            200            124 61%          229          128 79%          171          163 5%
Ralph Lauren            200            186 8%          215          191 13%          133            87 53%
Mohawk Industries            198            332 -40%          278          372 -25%          316          344 -8%
Dover            187            264 -29%          193          207 -7%          211          198 7%
Xylem            179            142 26%          161          131 23%          150          121 24%
Church & Dwight            176            199 -12%          187          187 0%          155          117 32%
Westlake Chemical            176            325 -46%          391          328 19%          381          227 68%
News Corp            174            169 3%          178          141 26%        (292)        (408) NM
Celanese            174            265 -34%          462          289 60%          442          281 57%
FMC Corp            162              15 980%          110            59 86%          140            52 169%
Albemarle            157            171 -8%          177          149 19%          391          137 185%
A.O. Smith            155            141 10%          132          132 0%          146          128 14%
Mosaic            145              60 142%          340          247 38%            72            75 -4%
CF Industries            141             (17) NM            83        (115) NM          218            29 652%
Ingredion            138            187 -26%          132          217 -39%          169          191 -12%
Idex Corp            129            124 4%          133          114 17%          137          113 21%
Rockwell Automation            121            298 -59%          482          274 76%          252          276 -9%
Ball Corp            114            276 -59%          199            55 262%          166          122 36%
Avery Dennison              88            157 -44%          167          147 14%          140          150 -7%
Perkin Elmer              79              81 -2%            78          105 -26%            72            71 1%
Eastman Chemical              71            186 -62%          459          403 14%          430          359 20%
Molson Coors Brewing              69            202 -66%          410          441 -7%          523          460 14%
Trimble              68              49 39%            64            72 -11%            79            64 23%
Intl Flavors & Fragrances              66            115 -43%          101          141 -28%          122          142 -14%
Westinghouse Air Brake Tech              58              75 -23%          103            81 27%            94            97 -3%
Cognex              49              53 -8%            81          113 -28%            67            62 8%
Bunge Ltd              17                1 1600%          452          121 274%          (15)            26 -158%
Autoliv                2            241 -99%          171          151 13%          210          201 4%
Hasbro               (5)            279 -102%          296          350 -15%            68            87 -22%
Under Armour             (17)             (49) NM          106            52 104%        (122)          (16) NM
Ford Motor             (17)         1,872 -101%       1,094       1,770 -38%       1,349       2,266 -40%
Thomson Reuters             (87)            142 -161%            70          143 -51%          139            62 124%
Newell Brands             (90)              20 -550%     (8,013)          (20) NM          (23)          (55) NM
Kellogg           (107)            581 -118%          452          389 16%          669          385 74%
COTY Inc           (878)            111 -891%          (88)          (41) NM        (166)        (340) NM
Kraft-Heinz      (14,412)         1,331 NM          814       1,359 -40%       1,046       1,590 -34%
Total 100 Largest Manufacturing Cos       35,006       49,653 -29%     31,109     58,346 -47%     61,498     56,007 10%
Smaller US Manufacturing Cos
Market Caps $1-10 Bil
Alcoa            369            216          406          288          410          237
United States Steel            253              70          314          147          226          245
Deckers Outdoor            245            193            90            66          (39)          (57)
GrafTech Intl Ltd            243              43          225            (5)          184          (12)
Goodyear Tire & Rubber            202            287          513          162          183          190
Hanesbrands            190              69          197          208          165          183
Chemours Co            182            263          269          250          323          225
Allison Transmission            174              84          218          170          222          146
Post Holdings            170              39            (3)            22          112          (92)
Carters Inc            161            138            94          123            48            58
Columbia Sportswear            154            110          132          124            13          (16)
Oshkosh Corp            148              61          190          122          198          199
B&G Foods            141              10            44            53            11            35
AGCO Corp            135            114            95            78          129          129
Gentex            131            138          131          131          129          128
Middleby            128              61            98          113          111          116
Domtar            122           (528)          102            73            51            47
Polaris Industries            120            118          123          109          113            92
Sensata Technologies plc            119            115          174          103          129            98
Sealed Air            119            119          109          106          117            85
Hubbell            115            111          143          124          134          117
Meritor            113              50            51          260            95            63
Berry Global Group            112              92          122          137          146          145
Teradyne            111              98          141          127          120          207
Gardner Denver Holdings            111              54            95            32            78        (190)
Dana Inc            109              79          127          106          123          104
Schweitzer-Mauduit Intl            106            104            35            35            35            32
Pentair plc            106              62          102            83            99              2
Curtiss-Wright            106              99            93            86            96            73
Lennox Intl            106              96          134          147          185          167
Crane            105              83          118            97          105          100
WABCO Holdings            105            359            93            89          133          106
Huntsman Corp            104            216          256          151          293          162
Garrett Motion            103            104            73            74          107          100
Carlisle Cos            100              81          122          124          146          140
WR Grace              97              28            17            59            64            63
Generac Holdings              97              84            97            60            73            39
Lincoln Electric Holdings              94              74            96          131            94            84
Crown Holdings              94            162          295          287          202          201
MKS Instruments              91            111          115          101          149          158
AVX Corp              91              48            89            49            71            44
Graco              90              74          108            96          105            96
Energizer Holdings              90            119              7            49            32            31
Ubiquiti Networks              88              64            97            86            85            70
Hexcel              87              86            88            83            89            84
Meredith              87              32            20            52            32            64
Verso              86              28            86              4              1          (49)
Gates Industrial Group plc              84              24            74            34          104            13
Versum Materials              83              76            87            59            84            69
Cimpress NV              83              52          (10)            17            (6)          (34)
Axalta Coating Systems Ltd              83              65              3            58            99            (9)
Skechers USA              82              55          123          118            75            88
Deluxe              81              94          (22)            49            79            89
New York Times              80                5            35            60            34            22
Timken              80              57            97            75          122            74
Sonoco Products              80              74            91          109          120            61
Delphi Technologies plc              79              92            55          113          110            78
Flowserve              79              67            44            68            28          103
Graphic Packaging              77              61          140            73            85            66
Kennametal              75              60            78            49            89            33
Eagle Materials              75              51            92            92            85            80
Regal Beloit              75              65            56            81            86            69
Olin Corp              74              61          261            60            74          (22)
nVent Electric plc              73              61            81            98            51            88
Bemis              73           (145)            75            82            61            41
Tupperware Brands              72              77            57            56            89          (13)
Valvoline              72              84            57          177            97            94
NewMarket              71              65            68            77            70            85
Cabot              70              93          101            79            95            71
Leggett & Platt               68            111          113          101          108          113
ITT Inc              66              68          137          128            79            59
Mercer Intl              65              53            51            28            25              6
Sonos Inc              64              46            (2)          (15)          (26)          (14)
Sanmina              63              11              9            40            41            62
Woodward              62              37            79            87            54            69
Lancaster Colony              62              48            50            45            44            43
Fossil Group              62              42            10            (9)          (10)        (439)
Rexnord              62              35            63            49            57            38
NCR              60            131            72          150        (156)          130
Entegris              60              42            59            50            64            51
ACCO Brands              59              70            49            50            44            38
AptarGroup              59              76            51            70            75            80
Moog              58              48            55            49            55            48
Belden              57              44          118          (10)            38            38
Mattel              56           (347)            73            61        (234)          (74)
John Bean Technologies              55              50            33            39            38            26
Pitney Bowes              52              39            45            56            53            42
Silgan Holdings              50              56          110          108            72            42
Darling Ingredients              50              22            (7)            15          (27)            18
Brunswick              49             (81)            75          109            98          167
Minerals Technologies              49              35            53            55            56            57
Visteon              47              35            32            55            49            58
Armstrong World Industries              47              43            81            53            65            69
Trinity Industries              46              74            39          108            86            91
Barnes Group              45              46            53            44            59            53
Carpenter Technology              45              34            40            35            54            38
Esterline Technologies              45              19            67            42            41            43
Coherent              44            101            77          101            93            93
Hillenbrand              44              43            60            60            51            51
JELD-WEN Holding              44              12            (3)            64            59            64
Dorman Products              44              43            44            43            43            45
Ingevity              44              33            68            55            65            53
Kemet              43              21            39            16            40          222
Innospec              42              40            30            30            30            35
HNI Corp              42             (13)            51            56            24            21
Watts Water Technologies              42              33            44            40            50            40
ARRIS Intl              41             (40)            30            73            25            20
Universal Forest Products              41              40            55            51            59            52
Wolverine World Wide              41             (81)            64            27            68            22
Littelfuse              40              44            68            56            52            57
AK Steel              40             (70)            86            39            72            93
Sensient Technologies              40              42            45            47            47            40
Century Aluminum              39             (19)          (19)            24            22              9
Allegheny Technologies              39                0            63        (121)            81            11
USG Corp              38              92            73            93            71            66
Sleep Number              36              20            23            39              1            (3)
Harsco              36              26            49            22            44            31
PQ Group Holdings              36             (59)            23              2            30              1
Mueller Industries              36              11            24            31            46            41
Tronox Ltd              35               (2)            21          (17)            23          (17)
Stepan              35              29            25            29            42            37
Atkore Intl              35              30            34            33            45            39
SPX Corp              35               (2)              9            27            20            (2)
II-VI Inc              35              30            32            27            34            34
Tempur Sealy              34              61            60            74            30            35
Colfax              34           (188)            50            63            61            62
Livent Corp              34                1            36            33  N/A   N/A 
Plexus Corp              34              29            34            31            30            27
GoPro              33             (63)          (25)              4          (37)          (29)
Renewable Energy Group              33             (38)            26          (11)            38          (33)
Trex Co              33              25            39            30            57            45
Knoll              32              10            27            27            18            20
Encore Wire              32              23            31            20            23            17
Federal Signal              31              12            28            20            35            18
BWX Technologies              31              56            85            71            79            88
Kaiser Aluminum              30              36            30            36            29              7
Knowles              30              34            25            15              6          (24)
Patrick Industries              30              31            37            28            47            32
iRobot              30              22            38            26            15              6
GCP Applied Technologies              30              10            15          (33)          (34)              8
Yeti Holdings              30              15            20            16            25            11
Boston Beer              29              15            47            52            31            46
Arcosa              29              22              7            34  N/A   N/A 
Mobile Mini              28              28          (72)            18            18            13
LCI Industries              28              44            44            48            62            63
Franklin Electric              28              21            36            30            37            37
Albany Intl              28              15            40            19            37              3
AdvanSix              27              23              6            36            38            41
Modine Manufacturing              27                7            16            16            28            20
Flowers Foods              26              44            51          (56)            50            67
Steven Madden Ltd              26              32            71            66            43            43
Continental Building Products              26              23            24            17            27            19
Rogers Corp              25              20            29            41            26            32
Valmont Industries              25              54            16            51            49            68
Balchem              25              25            24            21            25            23
Integer Holdings              25              16          (14)            19            32            10
TTM Technologies Inc              23              54            35            23            17            26
ESCO Technologies              23              13            38            30            23            17
SPX FLOW              23              30            42            23            35            13
J&J Snack Foods              23              23            34            38            36            39
Alamo Group              23              21            27            25            25            18
Simpson Manufacturing              22              24            61            45            61            45
Fox Factory Holding              22              15            31            20            24            18
Chart Industries              22              11            26              1            18              6
TriMas              22              14            27            18            26            23
Proto Labs              22              19            25            20            23            18
Kadant              21              16            25            18            18            11
Adient plc              21              69     (1,079)          356            60          262
Advanced Energy Industries              20              59            40            51            56            48
Welbilt              20              37            40            45            17            30
Medifast              20              10            18            10            18            11
Hostess Brands              20              91            14            26            25            40
Funko              20                8            10              8              1            (4)
Douglas Dynamics              20              21            11            15            28            22
NetGear              19                7            12            27            (1)            20
RBC Bearings              19              31            34            23            33            29
Gentherm              19              19              3              7            20            11
Advanced Draining Systems              19              26            42            31            48            28
Quaker Chemical              19              18            24            15            23            17
Malibu Boats              19              45            16              6            15            18
Sturm Ruger              18              14            12            13            20            16
Universal Display              18              59            28            17            13            61
Cavco Industries              17              24            20              8            24            16
Rayonier Advanced Materials              17            297            49            23            72              7
Masonite Intl              17              32            32            37            44            37
Helio Technologies              17                6            14            16              9            11
CTS Corp              17                0            14            14            12            14
Wabash National Corp              17              28            10            30            43            36
Mercury Systems              17              10            11            10            17            11
Louisiana-Pacific              17            152          168          157          215          131
AAON Inc              17              17            20            23            15            20
Tootsie Roll Industries              16              15            33            39            14            16
MGP Ingredients              16              10            12            22            11              9
Acushnet Holdings              16              23            17            14            59            52
Standex              16              15            20            17            25            19
Standard Motor Products              16              14            26            27            23            30
Astronics              16             (10)            16              9            17            11
PolyOne              16              29            56            52            62            63
Benchmark Electronics              15              21            10            20            13            21
Neenah              15              16            13            26            (8)            26
Skyline Champion              15              20          (71)            12              3              8
Badger Meter              15              13              4            12              8            16
Novanta              14              17            19              9            15            15
Gibraltar Industries              14              19            26            32            29            21
Griffon              14               (2)            24              4              9              5
Kraton              14                9            52            (7)          (16)            27
Itron              14              44            26            33              8            32
PGT Innovations              13              11            17              9            26            15
Casa Systems              13              51            20            37            13            16
Stoneridge              13              13            17            12            19            14
Nanometrics              12              19            14              8            20            11
Avaya Holdings              12              11          (43)            54          (68)          (69)
Vector Group Ltd              12              19            30            27            32            50
New Media Investment Group              12              24            (6)            (1)            15          (14)
Cooper Tire & Rubber              12              39            72            95            18            68
e.l.f. Beauty              11              13              5              7              1              1
MTS Systems              11                9            15              4            10              8
Gorman Rupp              11              12            14              8            13            12
Rudolf Technologies              10              12              8            26            17            13
Axcelis Technologies              10              10              9            13            17            11
Inter Parfums              10                4            34            33            20            14
Multi-Color              10             (16)            27            22            25            18
SunCoke Partners                9              37            16            25            20          (13)
Tennant                8                1            10              4            13            (2)
Edgewell Personal Care                8              33            24        (253)            21            66
Vicor                7                1            13              0              8            (0)
Control4 Corp                7                7              6              5              7              4
Electro Scientific Industries                6              34            19              4            33              3
Trinseo SA                6            144            94            42          119            79
Faro Technologies                5              10            (3)              3              2            (5)
Ferro                5              21            28            30            40            30
US Concrete                5             (11)            24            32            21              5
Milacron Holdings                4               (1)            22            19            23            18
Matthews Intl                4              10            39            25            29            38
Varex Imaging                4                7              0            18              2            16
Johnson Outdoors                4                8            (1)              1            32            26
Axon Enterprises                3                7              5              1              5              3
Columbus McKinnon                2                9            20            15              9            15
Freshpet                2                2            (0)            (0)            (3)            (3)
Brooks Automation                0                1              1              2            26            21
Briggs & Stratton               (0)              12          (59)          (21)          (24)            26
Vocera Communications               (1)                0            (0)              2            (4)            (6)
Codexis               (1)                1            (2)          (10)            (4)            (6)
Gannett Co               (2)              40            16              6            16              2
Interface               (3)              28              9            28            28            31
Hyster-Yale Matl Handling               (3)              35            10            16            10            18
Glatfelter PH               (3)                6              3              7          (15)            (6)
Compass Diversified Hldgs               (4)              10              8              9              4            (1)
Harley Davidson               (4)              95          141            90          319          394
TPI Composites               (6)              14            (1)            18            (2)            15
Altra Industrial Motion               (6)              16            18            19            26            21
Circor Intl               (7)             (11)            (4)              4            (2)              8
Cubic               (8)             (14)            26            18              5            (9)
Viasat               (8)             (23)          (35)          (25)          (65)          (18)
PlayAGS             (10)             (15)              1            (3)              2          (19)
Adtran             (11)               (1)              3            19          (11)            18
Element Solutions             (12)           (108)          (23)          (39)            (3)          (49)
Crocs             (14)             (30)            15              3            37            30
TreeHouse Foods             (15)           (538)              0            30          (26)          (56)
Enpro Industries             (17)              16            25          541            14            11
Evoqua Water Technologies             (21)               (7)            (1)            20              2            14
Hain Celestial Group             (25)              25          (33)            26              6              1
Iridium Communications             (25)             (13)          (15)            39              3            37
Mueller Water Products             (27)              15            35            28            21            38
Coca-Cola Bottling             (27)              29            43            31            (3)            11
Materion             (27)              16            17            11            14              9
Quad/Graphics             (27)              13            26            32              6            15
Pilgrim's Pride             (29)            120            60          352          145          360
Triumph Group             (30)           (146)          (14)            (7)          (76)            (3)
Arlo Technologies             (32)                3          (13)              6          (18)            (2)
Flex Ltd             (32)            141          109          218          142          146
Spectrum Brands Holdings             (33)             (23)        (135)          (34)            65            23
Callaway Golf             (38)             (23)            11              5            78            48
CommScope Holdings             (44)              26            66            68          103            80
Terex             (46)              25            51            57            85          119
Sunrun             (47)             (74)          (54)          (68)          (67)          (63)
Plantronics             (50)              32        (108)            25            15            17
Astec Industries             (70)              18              7            (5)          (49)            21
Manitowoc             (75)               (5)              1            (3)              9              3
Cooper-Standard Holdings             (78)              63            31            33            52            62
Houghton Mifflin Harcourt             (83)             (98)            81            79          (21)          (41)
Avon Products             (84)              92          182            48            (0)          (12)
Venator Materials plc             (87)              94        (421)            67          243            50
Veoneer             (90)           (258)          (70)          (26)          (63)          (19)
Boise Cascade             (93)              17            13            50            56            35
Bloom Energy           (103)             (72)          (83)          (76)          (50)          (67)
Owens-Illinois           (105)           (121)          168          172            78          152
EchoStar           (106)              18            29            42            95            10
Scott's Miracle Gro           (106)             (87)        (166)          (56)          166          222
Diebold Nixdorf           (125)             (14)        (173)          (30)        (163)          (60)
Infinera           (130)             (75)          (32)          (37)          (22)          (43)
Seaboard           (141)            107            60          124            11            84
Veeco Instruments           (143)             (20)            (9)          (26)        (266)          (34)
Dean Foods           (280)              19          (40)          (14)          (56)            30
American Axle           (450)              93            76            92          153            69
Vista Outdoor           (533)                7          (41)        (140)          (53)            27
Maxar Technologies Ltd           (950)              55        (289)              2          (40)            12
McDermott        (2,631)              41            44          113          (39)            60
Total all 298 US Companies         5,519         8,959 -38%     11,919     14,065 -15%     13,379     12,058 11%
Total 398 US Manufacturing Cos       40,525       58,612 -31%     43,028     72,411 -41%     74,877     68,065 10%