Wednesday, May 8, 2019

21 Largest San Fran/Silicon Valley, CA Area Non-Technology Cos Saw Their Total Pretax Earnings Decline By 1% in the March 2019 Quarter and By 24% in the Dec 2018 Quarter, After Increasing By 18% in the Sept 2018 Quarter

Democratic Presidential Candidate Pete Buttigieg Will Be Making Six Campaign Stops in the San Francisco Bay Area on this Friday May 10, 2019.  California is one of the 12 Super Tuesday US States Holding Their 2020 Democratic Presidential Early Primary on March 3, 2020.  Thus, I Think It Might Be Helpful to Research Just How San Francisco/Silicon Valley Non-Technology Companies Have Performed on the Pretax Earnings Front in the Most Recent Three Quarters
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From a review of SEC filings and MSN Money, I found 21 San Francisco/Silicon Valley Area Non-Technology Companies with stock markets caps of above $10 bil recently, which have March quarter ends and which have reported their March 2019 Quarter earnings, their December 2018 earnings and their September 2018 earnings to the SEC by May 7, 2019.

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 SEC filings, the chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the March Quarters of both 2019 and 2018, the December Quarters of both 2018 and 2017 and the September Quarters of both 2018 and 2017 for each of these 21 San Francisco/Silicon Valley Area Largest Non-Technology Companies.

US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax
Income Income Income Income Income Income
Non-Technology Cos (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
San Fran/Silicon Valley Area March March December December September September
Reporting 1Q 2019, 4Q 2018 and 3Q 2018 Earnings California 2019 2018 2018 2017 2018 2017
Market Caps Above $10 Bil City HQs Quarter Quarter Quarter Quarter Quarter Quarter
mils $ mils $ mils $ mils $ mils $ mils $
Wells Fargo San Francisco            6,848            6,701            7,120            4,599            7,598            6,781
Chevron San Ramon            3,957            5,073            4,898            1,481            5,699            2,658
Gilead Sciences Foster City            2,350            2,033            1,016            2,126            2,664            3,671
Charles Schwab San Francisco            1,264            1,002            1,210               953            1,219               945
Franklin Resources San Mateo               493               633               346               652               483               658
SVB Financial Group Santa Clara               399               282               380               260               377               251
Prologis San Francisco               387               409               709               351               389               931
Intuitive Surgical Sunnyvale               280               290               359               341               335               291
First Republic Bank San Francisco               268               246               287               237               266               242
Clorox Oakland               240               242               224               227               268               279
Equinix Redwood City               160                 80               136                 94               143                 82
Essex Property Trust San Mateo               126                 97               124               110                 86                 85
Digital Realty Trust San Francisco               125               113                 47                 80                 93                 15
Varian Medical Systems Palo Alto               113                 96               137               123               142               105
iShares Gold Trust San Francisco               112               201               819               101             (543)               267
Align Technology San Jose                 81                 99               120               114               125               101
Trimble Sunnyvale                 75                 67                 68                 49                 64                 72
PG&E Corp San Francisco                 52               496          (9,634)               226               582               713
Biomarin Pharmaceutical Novato               (53)               (51)               (43)                 55               (19)               (21)
McKesson San Francisco             (633)          (1,094)               650               697               587               178
Tesla Motors Palo Alto             (645)             (779)               232             (780)               271             (671)
Total all 21 Non-Technology Cos          15,999          16,236            9,205          12,096          20,829          17,633
Total Pretax Income % Change From Prior Year's Qtr -1% -24% 18%




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