Wednesday, April 24, 2019

The 132 Largest Massachusetts Cos Posted Huge Audited Total Pretax Earnings Declines of 43% in Annual 2018 and of Another 41% in Annual 2017

Since Massachusetts is one of the 12 Super Tuesday US States Holding Their 2020 Democratic Presidential Early Primary on March 3, 2020, I Think It Might Be Helpful to Research Just How Massachusetts Companies Have Performed on the Audited Pretax Earnings Front in the Most Recent Two Years
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From a review of SEC filings, I found 132 Massachusetts Companies with stock markets caps of above $1 bil sometime since the beginning of 2018.

  

My Focus is on Pretax Income rather than on After-Tax Net Income because 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.



From a review of SEC filings, the chart below shows the Audited Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Fiscal Years Ended (FYEs) 2018, 2017, 2016 and 2015 for each of these 132 Massachusetts Companies.
Most
Recent Audited Audited Audited Audited 2018 vs 2017 vs 2016 vs
Annual Pretax Pretax Pretax Pretax 2017 2016 2015
Audited Income Income Income Income Better Better Better
Massachusetts Financial (Loss) (Loss) (Loss) (Loss) (Worse) (Worse) (Worse)
Massachusetts Companies City State Sts FYE FYE FYE FYE % % %
Stock Market Caps > $1 Bil HQs HQs FYE 2018 2017 2016 2015 Change Change Change
 $ mils  $ mils  $ mils  $ mils
Biogen Cambridge MA Dec 18       5,900       5,129       4,933       4,755
TJX Cos Framingham MA Jan 19       4,173       3,857       3,723       3,658
Thermo Fisher Scientific Waltham MA Dec 18       3,262       2,429       2,024       1,936
Raytheon Waltham MA Dec 18       3,147       3,113       3,085       2,841
State Street Corp Boston MA Dec 18       2,999       2,899       2,120       2,298
Analog Devices Norwood MA Oct 18       1,639          828          957          810
Boston Scientific Marlborough MA Dec 18       1,422          933          177        (650)
Skyworks Solutions Woburn MA Sep 18       1,332       1,257       1,201       1,024
Eversource Energy Springfield MA Dec 18       1,329       1,574       1,505       1,426
American Tower Boston MA Dec 18       1,155       1,256       1,126          830
Keurig Dt Pepper Burlington MA Dec 18          791          567          303          751
Boston Properties Boston MA Dec 18          713          562          570          800
Waters Corp Milford MA Dec 18          682          641          600          542
Vertex Pharmaceutical Boston MA Dec 18          600          (16)          (67)        (558)
LPL Financial Holdings Boston MA Dec 18          593          365          298          283
Eaton Vance Boston MA Oct 18          555          480          418          381
IPG Photonics Oxford MA Dec 18          534          552          367          342
Sensata Technologies plc Attleboro MA Dec 18          526          402          321          206
MKS Instruments Andover MA Dec 18          481          448          128          159
Teradyne North Reading MA Dec 18          468          524          (55)          253
Iron Mountain Boston MA Dec 18          413          218          149          163
Akamai Technologies Cambridge MA Dec 18          343          314          466          457
Senior Housing Properties Trust Newton MA Dec 18          293          152          142          126
Dunkin Brands Group Canton MA Dec 18          289          283          279          202
Hanover Insurance Group Worchester MA Dec 18          283          293            66          217
Charles River Labs Wilmington MA Dec 18          282          297          223          195
RMR Group Newton MA Sep 18          276          137          147            82
PerkinElmer Waltham MA Dec 18          258          297          244          209
Entegris Billerica MA Dec 18          254          185          120            94
Bruker Billerica MA Dec 18          245          198          178          128
Alexion Pharmaceuticals Boston MA Dec 18          242          548          576          498
Cognex Natick MA Dec 18          235          266          162          127
Aspen Technology Bedford MA Jun 18          203          210          211          179
Bright Horizons Family Solutions Watertown MA Dec 18          192          161          143          140
Hospitality Properties Trust Newton MA Dec 18          187          212          227          168
UniFirst Wilmington MA Aug 18          187          115          203          201
Watts Water Technologies North Andover MA Dec 18          175          143          128        (111)
TripAdvisor Needham MA Dec 18          173          110          151          239
Abiomed Danvers MA Mar 18          160            91            66            29
Independent Bank Corp Rockland MA Dec 18          156          135          112            92
Acushnet Holdings Fairhaven MA Dec 18          150          152            89            32
BJ's Wholesale Club Westborough MA Jan 19          139            24            73            37
BrightSphere Investment Group plc Boston MA Dec 18          135          142          161          201
Berkshire Hills Bancorp Boston MA Dec 18          133          100            77            55
Cabot Boston MA Dec 18          119          306          194        (373)
Boston Private Financial Hldgs Boston MA Dec 18          119            86          101            93
Boston Beer Boston MA Dec 18          116          116          137          155
Brookline Bancorp Boston MA Dec 18          113            97            86            82
iRobot Corp Bedford MA Dec 18          109            76            61            63
Safety Insurance Group Boston MA Dec 18          104            87            93          (29)
Stag Industrial Boston MA Dec 18            96            32            36          (29)
Clean Harbors Norwell MA Dec 18            94            59              9          110
Enanta Pharmaceuticals Watertown MA Sep 18            93            27            33          125
LogMein Boston MA Dec 18            81          (12)              3            18
Kadant Westford MA Dec 18            80            58            45            49
Progress Software Bedford MA Nov 18            79            66          (35)            12
Industrial Logistics Properties Trust Newton MA Dec 18            74            80            87            72
Meridian Bancorp East Boston MA Dec 18            71            76            52            37
Cimpress NV Boston MA Jun 18            66          (79)            66          100
Casa Systems Andover MA Dec 18            66          123          116          102
Novanta Bedford MA Dec 18            61            76            33            46
Haemonetics Braintree MA Mar 18            60          (27)          (53)            31
Chase Corp Westwood MA Aug 18            57            61            50            41
Axcelis Technologies Beverly MA Dec 18            55            44            11            15
ATN International Beverly MA Dec 18            54            48            45            56
Rudolf Technologies Wilmington MA Dec 18            53            60            50            27
Altra Industrial Motion Braintree MA Dec 18            52            71            34            51
Lantheus Holdings North Billerica MA Dec 18            50            40            28          (12)
Mercury Systems Andover MA Jun 18            43            31            25            19
Virtusa Corp Southborough MA Mar 18            42            19            58            57
Vicor Andover MA Dec 18            33            (0)            (6)            (0)
PTC Inc Needham MA Dec 18            29            (1)          (67)            27
CarGurus Cambridge MA Dec 18            25            16              9            (3)
Monotype Imaging Woburn MA Dec 18            22              6            25            40
Repligen Waltham MA Dec 18            21              7            12            13
Brooks Automation Chelmsford MA Sep 18            20            15          (17)            18
Civitas Solutions Boston MA Sep 18            14              8            23              7
Franklin Street Properties Wakefield MA Dec 18            13          (16)              9            35
GCP Applied Technologies Cambridge MA Dec 18            11          (28)            35            57
Insulet Billerica MA Dec 18              5          (27)          (27)          (61)
Acacia Communications Maynard MA Dec 18            (0)            40          115            40
Endurance Intl Group Hldgs Burlington MA Dec 18            (2)        (117)        (191)          (14)
Carbonite Boston MA Dec 18            (6)          (18)            (3)          (22)
Mimecast Ltd Boston MA Mar 18          (10)            (3)            (2)              0
Pegasystems Cambridge MA Dec 18          (12)            86            55            61
Marimed Newton MA Dec 18          (13)            (1)              0            (2)
Net Scout Systems Westford MA Mar 18          (19)            52          (32)            95
Office Properties Income Trust Newton MA Dec 18          (27)          (10)            23            17
Circor International Burlington MA Dec 18          (36)              6            10            22
X4 Pharmaceuticals Cambridge MA Dec 18          (43)          (34)          (23)          (13)
Avrobio Cambridge MA Dec 18          (46)          (19)            (5)  N/A 
Everbridge Burlington MA Dec 18          (47)          (20)          (11)          (11)
Rapid7 Boston MA Dec 18          (55)          (48)          (49)          (49)
Homology Medicines Bedford MA Dec 18          (57)          (30)            (8)  N/A 
Hub Spot Cambridge MA Dec 18          (62)          (50)          (45)          (46)
Mersana Therapeutics Cambridge MA Dec 18          (64)          (39)          (14)          (16)
Organogenesis Holdings Canton MA Dec 18          (65)          (15)          (15)          (23)
RA Pharmaceuticals Cambridge MA Dec 18          (65)          (54)          (29)          (14)
Solid Biosciences Cambridge MA Dec 18          (75)          (53)          (24)            (7)
Carbon Black Waltham MA Dec 18          (82)          (53)          (47)          (39)
Intellia Therapeutics Cambridge MA Dec 18          (85)          (68)          (32)          (13)
Dicerma Pharmaceuticals Cambridge MA Dec 18          (89)          (60)          (60)          (63)
Rubius Therapeutics Cambridge MA Dec 18          (89)          (44)          (11)  N/A 
Deciphera Pharmaceuticals Waltham MA Dec 18        (100)          (50)          (26)          (20)
Editas Medicine Cambridge MA Dec 18        (110)        (120)          (97)          (73)
Acceleron Pharma Cambridge MA Dec 18        (119)        (108)          (57)          (64)
Epizyme Cambridge MA Dec 18        (124)        (135)        (110)        (132)
Alkermes Waltham MA Sep 18        (127)        (143)        (214)        (224)
Houghton Mifflin Harcourt Boston MA Dec 18        (132)        (172)        (358)        (174)
Wave Life Sciences Ltd Cambridge MA Dec 18        (147)        (101)          (55)          (19)
MACOM Technology Solutions Lowell MA Sep 18        (155)          (50)          (22)          (15)
CRISPR Therapeutics AG Cambridge MA Dec 18        (164)          (68)          (23)          (26)
Immunogen Waltham MA Dec 18        (169)          (96)        (145)          (61)
Flexion Therapeutics Burlington MA Dec 18        (170)        (137)          (72)          (46)
Akebia Therapeurics Cambridge MA Dec 18        (172)          (74)        (136)          (61)
Momenta Pharmaceutics Cambridge MA Dec 18        (176)          (88)          (21)          (83)
Karyopharma Therapeutics Newton MA Dec 18        (178)        (129)        (109)        (118)
Nuance Communications Burlington MA Dec 18        (217)        (119)              2          (80)
Radius Health Waltham MA Dec 18        (221)        (254)        (183)        (102)
Akcea Therapeutics Cambridge MA Dec 18        (225)        (120)          (83)          (61)
Blueprint Medicines Cambridge MA Dec 18        (237)        (148)          (72)          (53)
Ironwood Pharmaceuticals Cambridge MA Dec 18        (282)        (116)          (82)        (143)
Agios Pharmaceuticals Cambridge MA Dec 18        (345)        (315)        (198)        (118)
Sarepta Therapeutics Cambridge MA Dec 18        (363)          (49)        (267)        (220)
Sage Therapeutics Cambridge MA Dec 18        (373)        (270)        (159)          (94)
Moderna Cambridge MA Dec 18        (384)        (256)        (215)  N/A 
Hologic Marlborough MA Sep 18        (419)       1,231          415          177
Wayfair Boston MA Dec 18        (502)        (244)        (194)          (77)
bluebird bio Cambridge MA Dec 18        (555)        (335)        (264)        (167)
Beigene Ltd Cambridge MA Dec 18        (690)          (91)        (119)          (57)
Alnylam Pharmaceuticals Cambridge MA Dec 18        (761)        (491)        (410)        (290)
General Electric Boston MA Dec 18   (20,134)   (11,151)       7,031       8,186
Total all 132 Massachusetts Cos     11,104     19,433     32,847     32,586 -43% -41% 1%


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