Sunday, May 5, 2019

41 Largest San Diego Area Cos Had Huge Audited Total Pretax Earnings Drops of 54% in Annual 2018 and of 34% in Annual 2017. Total Pretax Earnings Dropped From $10.1 Bil in 2016 to $6.7 Bil in 2017 and to $3.1 Bil in 2018

Democratic Presidential Candidate Pete Buttigieg Will Be Making Two Campaign Stops in San Diego on Next Wednesday May 8, 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 Diego Area 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, MSN Money and Market Watch Big Charts, I found 41 San Diego Area 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 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 41 San Diego Area Companies.

Most
RecentAuditedAuditedAuditedAudited2018 vs2017 vs2016 vs
AnnualPretaxPretaxPretaxPretax201720162015
AuditedIncomeIncomeIncomeIncomeBetterBetterBetter
CaliforniaFinancial(Loss)(Loss)(Loss)(Loss)(Worse)(Worse)(Worse)
San Diego, California CompaniesCityStateStsFYEFYEFYEFYE%%%
Stock Market Caps > $1 BilHQsHQsFYE2018201720162015ChangeChangeChange
 $ mils $ mils $ mils $ mils
Sempra EnergySan DiegoCADec 18      1,222      1,627      1,908      1,789
IlluminaSan DiegoCADec 18         894      1,043         561         583
ResMedSan DiegoCAJun 18         521         419         440         436
QualcommSan DiegoCASep 18         513      3,020      6,833      6,487
Realty Income CorpSan DiegoCADec 18         365         319         316         285
Axos FinancialSan DiegoCAJun 18         240         233         205         141
AMN Healthcare ServicesSan DiegoCADec 18         187         193         176         121
Jack in the BoxSan DiegoCASep 18         186         204         167         178
Ligand PharmaceuticalsSan DiegoCADec 18         173           57             8           35
Encore Capital GroupSan DiegoCADec 18         156         131           57           98
Callaway Golf CoCarlsbadCADec 18         131           68           58           20
PriceSmartSan DiegoCAAug 18         123         133         132         137
WD-40 CompanySan DiegoCAAug 18           75           75           73           63
QuidelSan DiegoCADec 18           63           (8)         (16)           (9)
Retail Opportunity Investments CorpSan DiegoCADec 18           47           43           36           25
American Assets TrustSan DiegoCADec 18           27           40           46           54
ICU MedicalSan ClementeCADec 18           22           51           85           70
Neurocrine BiosciencesSan DiegoCADec 18           22       (143)       (141)         (89)
Cubic CorpSan DiegoCASep 18           15         (11)         (26)           57
NuVasive IncSan DiegoCADec 18             9           72           65         112
Kratos Defense & Security SolutionsSan DiegoCADec 18             9         (57)         (52)         (45)
Glaukos CorpSan ClementeCADec 18         (12)             0             5         (38)
Viking TherapeuticsSan DiegoCADec 18         (22)         (21)         (15)         (23)
Turning Point TherapeuticsSan DiegoCADec 18         (25)         (17) N/A  N/A 
Crinetics PharmaceuticalsSan DiegoCADec 18         (27)           (9)           (6) N/A 
CohuPowayCADec 18         (32)           35             6             8
MaxLinear IncCarlsbadCADec 18         (33)         (34)           64         (43)
AnaptysBioSan DiegoCADec 18         (62)         (30)           (4)           (5)
Fate TherapeuticsSan DiegoCADec 18         (67)         (43)         (33)         (30)
Ionis PharmaceuticalsCarlsbadCADec 18         (76)         (17)         (57)         (88)
Halozyme TherapeuticsSan DiegoCADec 18         (80)           62       (102)         (32)
Mirati TherapeuticsSan DiegoCADec 18         (98)         (70)         (83)         (65)
RetrophinSan DiegoCADec 18       (102)         (58)         (58)         105
ViaSat IncCarlsbadCAMar 18       (105)           25           18           54
Tandem Diabetes CareSan DiegoCADec 18       (123)         (73)         (83)         (72)
DexCom IncSan DiegoCADec 18       (127)         (49)         (65)         (58)
Arena PharmaceuticalsSan DiegoCADec 18       (139)         (96)         (12)       (111)
Gossamer BioSan DiegoCADec 18       (147)           (7)           (0)           (0)
La Jolla PharmaceuticalsSan DiegoCADec 18       (199)       (115)         (78)         (42)
Sorrento TherapeuticsSan DiegoCADec 18       (219)         (25)         (65)         (14)
ACADIA PharmaceuticalsSan DiegoCADec 18       (244)       (288)       (270)       (164)
Total all 41 San Diego Area Cos      3,061      6,679    10,093      9,930-54%-34%2%

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