Thursday, June 4, 2020

Minnesota Companies First Quarter 2020 Total Pretax Earnings Declined By 21% From the First Quarter 2019. These Weak Earnings Are Not a Good Signal For Continuing Solid Real Fair Pay Job Growth in Minnesota.

From a review of Company SEC filings and the Google Finance website, I found 36 Minnesota Companies with stock market caps above $1 bil in early 2020.  One of them hasn't released its April 2020 quarter earnings yet.  That leaves 35 Minnesota Companies.

 The below table shows the US GAAP Pretax Income (Loss) From Continuing Operations for the first quarter of both 2020 and 2019 for each of the 35 remaining Minnesota Companies.
US US
GAAP GAAP
Pretax Pretax
Income Income
(Loss) (Loss) Better
First First (Worse)
Minnesota Companies Quarter Quarter %
Stock Market Caps Above $1 Bil  City HQs  2020 2019  Change
mils $ mils $
UnitedHealth Group Minneapolis         4,559         4,432
Ameriprise Financial Minneapolis         2,351            470
3M Saint Paul         1,567         1,088
US Bancorp Minneapolis         1,439         2,086
Travelers Companies Saint Paul            720            967
General Mills Minneapolis            571            542
Ecolab Saint Paul            364            339
Target Minneapolis            329         1,021
XCEL Energy Minneapolis            289            340
Hormel Foods Austin            286            318
Fastenal Winona            269            258
Best Buy Richfield            218            330
Medtronic plc Minneapolis            206         1,292
Toro Co Bloomington            121            137
CH Robinson Worldwide Eden Prairie              94            207
Pentair plc Golden Valley              93              63
Donaldson Minneapolis              85            100
Graco Minneapolis              82            101
Allete Inc Duluth              51              73
nVent Electric plc St Louis Park              50              66
Sleep Number Minneapolis              50              30
Bio-Techne Minneapolis              47              50
Otter Tail Fergus Falls              30              32
Proto Labs Maple Plain              18              20
Ceridian HCM Minneapolis              17              17
H B Fuller Saint Paul              14              14
SPS Commerce Minneapolis              11                8
Tennant Minneapolis                6                7
Cardiovascular Systems Saint Paul               (3)                1
Polaris Inc Medina             (12)              64
Stratasys Ltd Eden Prairie             (21)               (3)
Piper Jaffray Minneapolis             (34)              23
Deluxe Corp Shoreview             (63)              56
Mosaic Co Plymouth           (317)            177
Two Harbors Investment Corp Minnetonka        (1,883)             (36)
Total all 35 Minnesota Companies       11,604       14,690 -21%


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