Wednesday, May 29, 2019

The 41 Largest Maryland Cos Had a 2.8% Average Annual Increase in Audited Total Pretax Earnings in 2018 and 2017, While Posting Such Earnings Growth of a Much Higher 16.3% in 2016, Obama's Last Year in Office

Democratic Presidential Candidate Pete Buttigieg Has Been Very Active Campaigning in the Washington DC Area, Including the Bordering State of Maryland.  Thus, I Think It Might Be Helpful to Research Just How Maryland 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, Google Finance, MSN Money and Market Watch Big Charts, I found 41 Maryland 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 Maryland Companies.

Most
Recent Audited Audited Audited Audited
Annual Pretax Pretax Pretax Pretax
Audited Income Income Income Income
Maryland Financial (Loss) (Loss) (Loss) (Loss)
Maryland Companies City State Sts FYE FYE FYE FYE
Stock Market Caps Above $1 Bil HQs HQs FYE 2018 2017 2016 2015
 $ mils  $ mils  $ mils  $ mils
Lockheed Martin Bethesda MD Dec 18          5,838          5,246          4,754          4,299
T Rowe Price Baltimore MD Dec 18          2,385          2,505          1,961          2,002
Marriott Intl Bethesda MD Dec 18          2,345          2,982          1,239          1,255
Host Hotels & Resorts Bethesda MD Dec 18          1,301             651             811             574
Discovery Inc Silver Spring MD Dec 18          1,022            (137)          1,671          1,559
United Therapeutics Silver Spring MD Dec 18             759             770          1,060          1,044
McCormick & Co Hunt Valley MD Nov 18             741             595             589             496
Sinclair Broadcasting Group Hunt Valley MD Dec 18             310             519             373             234
Omega Healthcare Investors Hunt Valley MD Dec 18             297             108             385             235
Choice Hotels Intl Rockville MD Dec 18             273             249             148             184
Federal Realty Investment Trust Rockville MD Dec 18             249             298             259             218
WR Grace Columbia MD Dec 18             245             211             166             194
Walker & Dunlop Bethesda MD Dec 18             213             234             186             135
Eagle Bancorp Bethesda MD Dec 18             204             186             159             135
RLJ Lodging Trust Bethesda MD Dec 18             200             118             210             181
Colfax Annapolis Junction MD Dec 18             183              (12)             207             218
Ciena Hanover MD Oct 18             149             156               87               24
Supernus Pharmaceuticals Rockville MD Dec 18             140             101               50               15
Sandy Spring Bancorp Olney MD Dec 18             133               88               72               67
AGNC Investment Corp Bethesda MD Dec 18             129             771             623             215
Laureate Education Baltimore MD Dec 18             128              (70)             367            (229)
Regenxbio Rockville MD Dec 18             104              (73)              (63)              (23)
Diamondrock Hospitality Bethesda MD Dec 18               91             102             127               97
Emergent BioSolutions Gaithersburg MD Dec 18               82             119               99             136
Corporate Office Properties Trust Columbia MD Dec 18               78               76               34             189
Medifast Owings Mills MD Dec 18               71               40               27               30
Saul Centers Bethesda MD Dec 18               63               61               57               53
JBG Smith Properties Chevy Chase MD Dec 18               46              (89)               63               50
Hannon Armstrong Susu Infrastr Capital Annapolis Junction MD Dec 18               44               32               15                 8
Legg Mason Baltimore MD Mar 19               28             234             371              (25)
Pebblebrook Hotel Trust Bethesda MD Dec 18               15             100               74               98
Enviva Partners LP Bethesda MD Dec 18                 7               14               13               22
2U Inc Lanham MD Dec 18              (43)              (31)              (21)              (27)
GlycoMimetics Rockville MD Dec 18              (48)              (33)              (32)              (13)
Inovalon Holdings Bowie MD Dec 18              (54)               33               39             115
Under Armour Baltimore MD Dec 18              (67)              (10)             388             387
Tenable Holdings Columbia MD Dec 18              (71)              (41)              (36)              (86)
WillScot Baltimore MD Dec 18              (92)            (165)              (88)            (103)
Macrogenics Rockville MD Dec 18            (171)              (20)              (59)              (20)
Novavax Gaithersburg MD Dec 18            (185)            (184)            (280)            (157)
US Silica Holdings Frederick MD Dec 18            (230)             137              (78)                 0
Total all 41 Maryland Companies        16,912        15,871        16,027        13,786
..... Pretax Income % Change vs Preceding Year 6.6% -1.0% 16.3%
Two Trump Years 2018 and 2017
………. Average Annual Pretax Income % Change 2.8%
Obama Last Year 2016
………. % Pretax Income Increase Over 2015 16.3%