Friday, May 31, 2019

The 62 Largest Virginia Cos Had Audited Total Pretax Earnings Declines of 9.4% in Fiscal Year Ended (FYE) 2018 and of Another 6.1% in FYE 2017. But Such Earnings Increased By 47% in FYE 2016, Obama's Last Year in Office.

Democratic Presidential Candidate Pete Buttigieg Has Been Very Active Campaigning in the Politically Astute Washington DC Area, Including the Bordering State of Virginia.  Thus, I Think It Might Be Helpful to Research Just How Virginia Companies Have Performed on the Audited 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 64 Virginia Companies with stock markets caps of above $1 bil sometime since the beginning of 2018.  Two of these 64 Companies haven't as yet filed with the SEC their Annual 10-Ks for the Fiscal Year Ended March 31, 2019.  That leaves 62 Virginia Companies.

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 62 Virginia Companies.

Most
Recent Audited Audited Audited Audited
Annual Pretax Pretax Pretax Pretax
Audited Income Income Income Income
Virginia Financial (Loss) (Loss) (Loss) (Loss)
Virginia 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
Northern Virginia Area Companies
Freddie Mac McLean VA Dec 18        11,474        16,834        11,639          9,274
Capital One Financial McLean VA Dec 18          7,318          5,492          5,484          5,881
General Dynamics Falls Church VA Dec 18          4,085          4,077          3,656          4,219
Northop Grumman Falls Church VA Dec 18          3,742          4,229          2,681          2,790
AES Corp Arlington VA Dec 18          2,057             842             223          1,094
Hilton Worldwide McLean VA Dec 18          1,078             753             540             533
AvalonBay Community Arlington VA Dec 18             974             877          1,034             743
NVR Inc Reston VA Dec 18             960             847             662             603
Willis Towers Watson Arlington VA Dec 18             851             492             342             351
Verisign Reston VA Dec 18             730             599             581             488
Leidos Holding Reston VA Dec 18             610             393             318             355
Booz Allen Hamilton McLean VA Mar 19             515             430             426             379
Tegna McLean VA Dec 18             509             311             449             346
Park Hotels & Resorts Tysons VA Dec 18             500             285             221             417
Graham Holdings Arlington VA Dec 18             324             183             251            (121)
Maximus Reston VA Sep 18             299             314             286             260
CACI Intl Arlington VA .Jun 18             299             249             224             202
Parsons Corporation Centreville VA Dec 18             260             133               12             128
Science Applications Intl Reston VA Jan 19             170             214             212             183
Mantech Intl Fairfax VA Dec 18             111               97               90               85
Chesapeake Lodging Trust Arlington VA Dec 18               98               79               79               70
Continental Building Products Herndon VA Dec 18               95               76               67               26
PRA Group Norfolk VA Dec 18               89             160             136             258
ePLUS Herndon VA Mar 19               86               84               86               76
ICF Intl Fairfax VA Dec 18               83               74               75               64
Beacon Roofing Supply Herndon VA Sep 18               68             163             147             106
Playa Hotels & Resorts NV Fairfax VA Dec 18               31                 9               24                 8
Gannett Co McLean VA Dec 18               30               41               66             194
K12 Inc Herndon VA .Jun 18               27                 5               13               15
MicroStrategy Inc Tysons Corner VA Dec 18               20               71             115             138
Alarm.com Holdings Tysons VA Dec 18               12               32               14               17
Strategic Education Herndon VA Dec 18              (19)               53               57               66
Iridium Communications McLean VA Dec 18              (21)             120             178               73
Appian Reston VA Dec 18              (49)              (30)              (14)                (7)
Evolent Health Arlington VA Dec 18              (54)              (76)            (238)             343
Comscore Reston VA Dec 18            (156)            (284)            (121)              (78)
GTT Communications McLean VA Dec 18            (249)              (54)                 9              (15)
Intelsat SA Tyson's Corner VA Dec 18            (465)            (104)          1,010         (3,918)
Total all 38 Northern Virginia Cos        36,492        38,070        31,034        25,646
Pretax Income % Change vs Preceding Year -4% 23% 21%
Richmond Area Cos
Altria Group Richmond VA Dec 18          9,341          9,828        21,852          8,078
Dominion Energy Richmond VA Dec 18          3,129          3,090          2,867          2,828
CarMax Richmond VA Feb 19          1,113          1,064          1,006          1,010
Genworth Financial Richmond VA Dec 18             448             729             320              (15)
NewMarket Richmond VA Dec 18             290             315             343             339
Apple Hospitality REIT Richmond VA Dec 18             207             183             145             118
Performance Food Group Richmond VA .Jun 18             194             158             115               97
Union Bankshares Richmond VA Dec 18             179             105             102               90
Universal Corp Richmond VA Mar 19             151             167             169             173
Brink's Co Richmond VA Dec 18               43             182             125               41
Kinsale Capital Group Richmond VA Dec 18               40               39               40               34
Markel Glen Allen VA Dec 18                (8)               87             630             742
Owens & Minor Mechanicsville VA Dec 18            (469)               57             173             173
Total all 13 Richnond Area Cos        14,658        16,004        27,887        13,708
Pretax Income % Change vs Preceding Year -8% -43% 103%
Hampton Roads Area Cos
Norfolk Southern Norfolk VA Dec 18          3,469          3,128          2,582          2,442
Huntington Ingalls Industries Newport News VA Dec 18             971             772             784             632
Towne Bank Portsmouth VA Dec 18             172             148             101               93
Armada Hoffler Properties Virginia Beach VA Dec 18               23               31               43               31
Dollar Tree Chesapeake VA Jan 19         (1,309)          1,704          1,329             448
Total all 5 Hampton Roads Area Cos          3,326          5,783          4,839          3,646
Pretax Income % Change vs Preceding Year -42% 20% 33%
Rest Of Virginia Cos
Advance Auto Parts Roanoke VA Dec 18             555             520             739             753
BWX Technologies Lynchburg VA Dec 18             280             296             257             221
Trex Co Winchester VA Dec 18             177             142             103               77
American Woodward Winchester VA Apr 18               95             109               92               54
Shenandoah Telecomm Edinburg VA Dec 18               62               13                 2               69
Intrexon Blacksburg VA Dec 18            (536)            (130)            (194)              (87)
Total all 6 Rest of Virginia Cos             633             950             999          1,087
Pretax Income % Change vs Preceding Year -33% -5% -8%
Total all 62 Virginia Cos        55,109        60,807        64,759        44,087
Pretax Income % Change vs Preceding Year -9.4% -6.1% 47%