Friday, April 19, 2019

The 61 Largest Virginia Companies Total Pretax Income Declined By 48% in the 4Q 2018, After Declining By 10% in the 3Q 2018 and Increasing By 14% in the 2Q 2018 and Increasing By 18% in the 1Q 2018

Since Virginia 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 Virginia Companies Have Performed on the Audited Pretax Earnings Front in the Most Recent Year
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 From a review of SEC filings, I found 61 Virginia 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 each of the four quarters of both 2018 and 2017 for each of these 61 Virginia 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)
Dec 2018 Dec 2017 Sep Qtr Sep Qtr June Qtr June Qtr Mar Qtr Mar Qtr
Jan 2019 Jan 2018 Oct Qtr Oct Qtr July Qtr July Qtr Apr Qtr Apr Qtr
Virginia Companies Virginia or Feb 2019 or Feb 2018 or Nov Qtr or Nov Qtr or Aug Qtr or Aug Qtr or May Qtr or May Qtr
Market Caps Above $1 Bil City HQs Quarter Quarter 2018 2017 2018 2017 2018 2017
mils $ mils $ mils $ mils $ mils $ mils $ mils $ mils $
December 2018 Quarters
Altria Group Richmond          1,710          2,183          2,608          2,644          2,557          2,910          2,466          2,091
Freddie Mac McLean          1,393          3,822          3,262          7,190          3,145          2,501          3,674          3,321
Capital One Financial McLean          1,243          1,308          1,921          1,585          2,492          1,490          1,662          1,109
General Dynamics Falls Church          1,132          1,008          1,023          1,027             970          1,032             960          1,010
Norfolk Southern Norfolk             930             893             908             800             924             780             707             655
Dominion Energy Richmond             757             620          1,145             968             566             553             661             949
Willis Towers Watson Arlington             477               80               36              (35)               74               49             264             398
DXC Technology Tysons             469             341             332             284             360               91             661            (187)
Northop Grumman Falls Church             403          1,309          1,237             782             849             812             871             788
AvalonBay Communities Arlington             386             237             192             238             255             165             142             236
AES Corp Arlington             354             122                 338             328             356             228          1,009             164
NVR Inc Reston             277             261             250             244             242             209             191             132
Hilton Worldwide McLean             266             181             293             256             298             250             221               66
Verisign Reston             234             142             178             150             165             160             152             148
Huntington Ingalls Industries Newport News             219             187             295             220             262             218             195             147
Tegna Tysons             206             111             107               62             120               73               75               64
Leidos Holding Reston             150               34             170             116             165             135             125             108
Booz Allen Hamilton McLean             140             106             120             111             137             107             112             108
CACI Intl Arlington               93               77               91               56               71               68               94               55
Maximus Reston               76               80               62               78               85               83               72               80
NewMarket Richmond               71               65               68               77               70               85               81               88
Advance Auto Parts Roanoke               70               74             147             144             157             136             181             166
Graham Holdings Arlington               69               55             135               38               63               66               57               24
Park & Hotels & Resorts Tysons               65               59               55               61             231               96             149               69
Performance Food Group Richmond               56               34               35               36               79               67               45               33
Union Bankshares Richmond               53               27               46               28               61               24               19               26
Brink's Co Richmond               52               58               42               38              (89)               31               37               55
TowneBank Portsmouth               47               35               48               40               45               40               32               32
Universal Corp Richmond               39               62               50               42                 6                 3               59               56
Apple Hospitality REIT Richmond               34                (2)               62               63               68               88               42               34
Trex Co Winchester               33               25               39               30               57               44               47               42
BWX Technologies Lynchburg               31               56               85               71               79               88               85               80
Mantech Intl Herndon               28               25               29               23               28               25               26               24
ICF Intl Fairfax               27               18               22               21               19               20               16               15
Continental Building Products Herndon               26               23               24               17               27               19               18               18
ePLUS Herndon               21               16               25               29               21               21               18               19
Strategic Education Herndon               21               12              (56)                 8                 5               14               12               19
PRA Group Norfolk               20               27               14               28               25               24               29               81
Shenandoah Telecomm Edinburg               20                 9               20                 1               13                 0                 8                 3
Chesapeake Lodging Trust Arlington               13               29               54               21               26               25                 4                 4
Alarm.com Holdings Tysons                 8               12              (17)               10                 8                 5               12                 5
Kinsale Capital Group Richmond                 5               11               14                 5               12               13                 9                 9
MicroStrategy Inc Tysons Corner                 2               18               11               21                 6               13                 1               20
Beacon Roofing Supply Herndon                (0)               27               71               74               67               71              (97)              (15)
Gannett Co McLean                (2)               40               16                 6               16                 2                -                  (7)
Playa Hotels & Resorts NV Fairfax                (9)              (23)                (5)                (5)               13                (4)               31               41
Appian Reston              (14)                (7)              (15)                (6)              (11)              (14)                (9)                (3)
Evolent Health Arlington              (18)              (18)              (12)              (15)              (10)              (20)              (14)              (23)
Evolent Health Arlington              (18)              (18)              (12)              (15)              (10)              (20)              (14)              (23)
Iridium Communications McLean              (25)              (13)              (15)               39                 3               37               15               56
Comscore Reston              (27)              (79)              (24)            (128)              (54)              (38)              (50)              (40)
GTT Communications McLean              (57)              (10)              (25)              (18)            (137)                (2)              (29)              (25)
Intelsat SA McLean            (110)              (28)            (266)              (31)              (46)              (18)              (43)              (27)
Owens & Minor Mechanicsville            (290)              (18)                (2)               21            (191)               26               14               29
Intrexon Blacksburg            (344)              (35)              (73)              (42)              (68)              (20)              (51)              (33)
Genworth Financial Richmond            (413)            (290)             273             286             360             401             228             332
Markel Glen Allen            (930)             144             519            (360)             361             210               43               94
Jan 19 and Feb 19 Qtr Ends
CarMax Richmond             256             210             248             225             289             290             320             338
American Woodward Winchester               24                 4               25               31               33               31               28               27
Science Applications Intl Reston                (7)               51               58               62               64               49               55               52
Dollar Tree Chesapeake         (2,194)             692             340             355             338             344             207             314
Total all 61 Virginia Cos
          7,548        14,479        16,621        18,435        16,127        14,186        15,935        13,450
% Change From Prior Year Qtr
 -48% -10% 14% 18%


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