Tuesday, March 10, 2020

Largest Florida Companies Total Operating Income Showed Increases of 14% in the 2Q of 2019 and of 9% in the 3Q of 2019 But Then These Earnings Sharply Reversed Course and Showed a 14% Decline in the 4Q of 2019. There Will Be Severe Pressure on Operating Income in the Year 2020 Due To the Sharply Negative Economic Impact of the Coronavirus and the Fact That Florida is a Travel Destination and Also That Three of Florida's Largest Companies Are Cruise Lines.

There were 24 Florida Companies with stock market caps above $5 bil recently.  Five of these Companies didn't disclose their Operating Income.  Another one didn't disclose its earnings for every quarter of 2019 and 2018.    

From a review of SEC filings, below are the Gold-Standard US GAAP Pretax Operating Income (Loss) From Continuing Operations for the remaining 18 largest Florida Companies in each of the four quarters of both 2019 and 2018.


US US US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax Pretax Pretax
Operating Operating Operating Operating Operating Operating Operating Operating
Income Income Income Income Income Income Income Income
(Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Dec Dec Sept Sept June June March March
Florida Largest Companies Florida Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
Market Caps Above $5 Bil City HQs 2019 2018 2019 2018 2019 2018 2019 2018
mils $ mils $ mils $ mils $ mils $ mils $ mils $ mils $
Nextera Energy Juno Beach           878        1,107        1,593           968        1,747        1,146        1,135        1,059
Fidelity Natl Info Services Jacksonville           123           469           140           342           391           353           315           294
CSX Corp Jacksonville        1,154        1,249        1,287        1,293        1,305        1,283        1,219        1,044
Roper Technologies Sarasota           398           364           385           378           368           354           346           300
Restaurant Brands Intl Miami/Toronto           511           516           571           478           491           502           434           421
SBA Communications Boca Raton           154           150           154           138           136           126           139           130
Carnival Miami           484           552        1,890        1,794           515           559           386           419
Citrix Systems Fort Lauderdale           185           202           111           165           117           145           123           166
Heico Hollywood           121           104           119           101           119             92             98             80
Royal Caribbean Cruises Miami           299           364           891           800           574           457           319           274
Darden Restaurants Orlando           160           148           202           189           230           230           266           233
Regency Centers Jacksonville             24             66             58             61             40             39             61             43
Black Knight Jacksonville             72             63             75             67             77             66             65             68
National Retail Properties Orlando           104             88             96           109           108             98           108           130
Watsco Coconut Grove             52             59           125           122           134           137             55             54
Norwegian Cruise Line Miami           199           210           512           550           309           292           158           167
Tech Data Clearwater           142           147           125           110             98             70           166           152
Jabil St Petersburg           153           217           190           154           141           113           154           130
Total all 18 Largest Florida Companies        5,213        6,075        8,524        7,819        6,900        6,062        5,547        5,164
… % Change From Prior Year Quarter -14% 9% 14% 7%