Monday, April 15, 2019

The 34 Largest Tennessee Cos Saw Their Total Audited Annual Pretax Income Growth Decline Sharply in 2018 to Up 3%, After Increases of 19% in 2017 and of 18% in 2016

Since Tennessee 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 Tennessee Companies Have Performed on the Audited Pretax Earnings Front in the Most Recent Three Years
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From a review of SEC filings, I found 34 Tennessee Companies with stock markets caps of above $1 bil sometime in 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 34 Tennessee 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
Tennessee Financial (Loss) (Loss) (Loss) (Loss) (Worse) (Worse) (Worse)
Tennessee 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
HCA Healthcare Nashville TN Dec 18       5,335       4,381       4,810       3,957
FedEx Memphis TN May 18       4,353       4,579       2,740       1,627
International Paper Memphis TN Dec 18       2,117       1,025          993       1,249
Dollar General Goodlettsville TN Jan 19       2,015       1,907       1,966       1,853
Autozone Memphis TN Aug 18       1,636       1,925       1,913       1,803
Eastman Chemical Kingsport TN Dec 18       1,310       1,289       1,049       1,129
First Horizon National Memphis TN Dec 18          714          309          345          108
Tractor Supply Brentwood TN Dec 18          683          673          688          648
Unum Group Chattanooga TN Dec 18          628       1,404       1,348       1,238
Louisiana-Pacific Nashville TN Dec 18          521          510          170            89
Delek US Holdings Brentwood TN Dec 18          486          299        (391)            21
Pinnacle Financial Partners Nashville TN Dec 18          450          298          191          143
Cracker Barrel Lebanon TN July 18          278          299          266          238
Ryman Hospitality Properties Nashville TN Dec 18          276          127          163          100
Mid America Apartment Comm Germantown TN Dec 18          234          343          226          352
CoreCivic Nashville TN Dec 18          168          192          228          230
Frontdoor Memphis TN Dec 18          166          220          196          189
National Health Investors Murfreesboro TN Dec 18          154          159          153          150
Mueller Industries Collierville TN Dec 18          138          125          148          132
Contura Energy Bristol TN Dec 18          137          106          (94)        (403)
Tivity Health Franklin TN Dec 18          125          105            78            73
Forward Air Corp Greeneville TN Dec 18          120          108            58            80
FB Financial Nashville TN Dec 18          106            73            62            50
Malibu Boats Loudon TN Jun 18            89            49            32            32
National Healthcare Murfreesboro TN Dec 18            75            75            80            85
Healthcare Realty Trust Nashville TN Dec 18            70            23            86            59
HealthStream Nashville TN Dec 18            17            10              8            14
Surgery Partners Brentwood TN Dec 18          (69)            82            92          (76)
Astec Industries Chattanooga TN Dec 18          (86)            57            87            52
CBL & Associates Chattanooga TN Dec 18        (101)          157          193          122
ServiceMaster Global Memphis TN Dec 18        (126)            99            (3)  N/A 
Acadia Healthcare Franklin TN Dec 18        (169)          237            33          165
Wright Medical Group NV Memphis TN Dec 18        (170)        (100)        (178)        (241)
Brookdale Senior Living Brentwood TN Dec 18        (578)        (588)        (399)        (550)
Total all 34 Tennessee Cos     21,102     20,557     17,337     14,718 3% 19% 18%









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