Tuesday, May 28, 2019

The 10 Largest Washington DC Cos Had Total Pretax Income Declines of 31% in the 1Q 2019 and of 21% in the 4Q 2018, After an Increase of 10% in the 3Q 2018

Democratic Presidential Candidate Pete Buttigieg Has Been Very Active Campaigning in Washington DC.  Thus, I Think It Might Be Helpful to Research Just How the Washington DC 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 Google Finance, I found 10 Washington DC 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 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 First Quarters of both 2019 and 2018, the Fourth Quarters of both 2018 and 2017 and the Third Quarters of both 2018 and 2017 for each of these 10 Washington DC 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
(Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Washington DC Companies First First Fourth Fourth Third Third
Reporting 1Q 2019, 4Q 2018 and 3Q 2018 Earnings Quarter Quarter Quarter Quarter Quarter Quarter
Market Caps Above $1 Bil City HQs 2019 2018 2018 2017 2018 2017
mils $ mils $ mils $ mils $ mils $ mils $
Fannie Mae Wahington DC         3,027         5,392         4,058         4,956         5,056         4,548
Danaher Wahington DC            721            713            943            979            801            730
The Carlyle Group LP Wahington DC            470            126             (79)            395              61            166
CoStar Group Wahington DC              98              56            110              49              73              55
FTI Consulting Wahington DC              83              54              32              28              64              41
Federal Agricultural Mortgage Corp Wahington DC              32              32              29              33              38              33
Cogent Communications Wahington DC              13              10              11                8              11                7
Easterly Government Properties Wahington DC               (0)                2                1                2                2                1
Vanda Pharmaceuticals Wahington DC               (1)                3              10               (2)                7               (5)
Washington REIT Wahington DC               (4)                3                6                2                6                3
Total all 10 Washington DC Cos         4,439         6,391         5,121         6,450         6,119         5,579
Total Pretax Income % Change From Prior Year's Qtr -31% -21% 10%