Monday, June 8, 2020

The 154 Largest Texas Cos Posted Total Pretax Losses of $67 Bil in the March 2020 Quarter, Down By 291% or an Earnings Deterioration of $102 Bil From Their Total Pretax Income of $35 Bil in the March 2019 Quarter ...... With These Numbers, Texas Was Effectively in an Economic Depression in the First Quarter of 2020.

From a review of Company SEC filings and the Google Finance website, I found 155 Texas Companies with stock market caps above $1 bil recently.  One of them hasn't released its March 2020 quarterly earnings yet.  That leaves 154 Companies.

The table below shows the US GAAP Pretax Income (Loss) From Continuing Operations for the first quarter of both 2020 and 2019 for each of these 154 Texas Companies.


US US
GAAP GAAP
Pretax Pretax
Income Income
(Loss) (Loss) Better
First First (Worse)
Texas Companies Quarter Quarter %
Market Caps Above $1 Bil City HQs 2020 2019  Change
mils $ mils $
Texas Oil & Gas Companies    
Enterprise Products Partners LP  Houston              1,196             1,293
Cheniere Energy Inc  Houston                 734                340
Cheniere Energy Partners LP  Houston                 435                385
Pioneer Natural Resources  Irving                 365                453
Range Resources  Fort Worth                 195                    7
Matador Resources  Dallas                 175                (10)
Shell Midstream Partners LP  Houston                 142                137
Hess Midstream LP  Houston                 131                  81
TC Pipelines LP  Houston                   94                100
Black Stone Minerals LP  Houston                   76                    9
Cabot Oil & Gas  Houston                   72                341
Rattler Midstream LP  Midland                   58                  50
Comstock Resources  Frisco                   53                  18
BP Midstream Partners LP  Houston                   48                  41
Cactus Inc  Houston                   41                  47
EOG Resources  Houston                   31                827
Genesis Energy LP  Houston                   29                  16
Holly Energy Partners LP  Dallas                   27                  54
Crestwood Equity Partners LP  Houston                 (23)                  14
Dril-Quip Inc  Houston                 (41)                  (4)
Marathon Oil  Houston                 (49)                  27
Sunoco LP  Dallas               (125)                107
CVR Energy Inc  Sugar Land               (137)                137
NuStar Energy LP  San Antonio               (147)                  30
Kinder Morgan  Houston               (231)                739
Exxon Mobil  Irving               (258)             4,289
Western Midstream Partners LP  The Woodlands               (294)                222
EnLink Midstream LLC  Dallas               (294)              (133)
Diamondback Energy  Midland               (317)                  10
HollyFrontier  Dallas               (455)                364
USA Compression Partners LP  Austin               (602)                    7
Energy Transfer Operating LP  Dallas               (854)             1,345
Halliburton  Houston               (896)                192
Energy Transfer LP  Dallas               (936)             1,244
Southwestern Energy  Spring            (1,141)                168
ConocoPhillips  Houston            (1,563)             2,687
Magnolia Oil & Gas  Houston            (1,971)                  26
Occidental Petroleum  Houston            (2,095)                856
Targa Resources  Houston            (2,116)                (28)
National Oilwell Varco  Houston            (2,205)                (85)
Valero Energy  San Antonio            (2,370)                218
Phillips 66  Houston            (2,478)                340
Plains All America  Houston            (2,824)                994
Plains GP Holdings LP  Houston            (2,826)                993
TechnipFMC plc  Houston            (3,208)                  34
Noble Energy  Houston            (4,018)                373
Parsley Energy  Austin            (4,307)                (36)
Apache Corp  Houston            (4,566)                165
Schlumberger Ltd  Houston            (8,089)                509
Concho Resources  Midland          (10,844)              (889)
Baker Hughes  Houston          (16,093)                138
Totals 51 Texas Oil & Gas Cos                           -           (74,471)           19,242 -487%
Texas Non-Oil & Gas Companies
AT&T Dallas             6,265             5,371
Texas Instruments Dallas             1,224             1,377
McKesson Irving             1,201              (633)
Kimberly Clark Irving                834                582
D R Horton Arlington                621                463
Waste Management Houston                435                462
Atmos Energy Dallas                306                275
Celanese Irving                292                385
Nexstar Broadcasting Group Irving                222                  73
LyondellBasell Industries Houston                218             1,020
Globe Life McKinney                203                228
CoPart Dallas                192                204
Crown Castle Houston                190                199
Waste Connections The Woodlands                172                154
National Instruments Austin                172                  26
Prosperity Bancshares Houston                166                104
Dell Technologies Round Rock                136              (143)
Westlake Chemical Houston                116                113
Match Group Dallas                113                  95
Service Corp Intl Houston                106                100
Darling Ingredients Irving                104                  25
Yum China Holdings Plano                  98                322
Commercial Metals Irving                  86                  33
Insperity Kingwood                  85                  87
Tenet Healthcare Dallas                  85                  84
American Campus Communities Austin                  82                  32
Hilltop Holdings Dallas                  66                  45
Vistra Energy Irving                  62                301
Quanta Services Houston                  58                165
Cullen/Frost Bankers San Antonio                  58                130
LGI Homes The Woodlands                  55                  22
Independent Bank Group McKinney                  55                  48
Invitation Homes Dallas                  50                  21
FirstCash Fort Worth                  46                  59
Camden Property Trust Houston                  45                  40
Eagle Materials Dallas                  45              (172)
Rent-A-Center Plano                  45                    9
First Financial Bankshares Abilene                  44                  46
Intl Bancshares Laredo                  44                  65
Arcosa Dallas                  42                  36
Group 1 Automotive Houston                  39                  52
Flowserve Irving                  38                  76
Integer Holdings Plano                  37                  25
Tyler Technologies Plano                  35                  35
Kronos Worldwide Dallas                  35                  43
Rush Enterprises New Braunfels                  32                  50
Lennox Intl Richardson                  27                  83
Weingarten Realty Investors Houston                  27                  46
Brinker Intl Dallas                  27                  56
Diodes Inc Plano                  25                  42
Comfort Systems USA Houston                  24                  27
Encore Wire McKinney                  24                  17
Sally Beauty Holdings Denton                  22                  89
Alamo Group Sequin                  21                  21
HMS Holdings Irving                  17                  18
Trinity Industries Dallas                  15                  40
CyrusOne Dallas                  14                  89
Cirrus Logic Austin                  12                    9
Yeti Holdings Austin                  11                    3
Atrion Allen                  11                  12
Wingstop Dallas                    9                    7
Builders FirstSource Dallas                    9                  47
US Physical Therapy Houston                    4                  15
Southside Bancshares Tyler                    4                  22
SolarWinds Corp Austin                    3                    4
RealPage Richardson                    3                  16
Veritex Holdings Dallas                    3                    9
Silicon Labs Austin                    2                    3
Cardtronics plc Houston                    2                    7
Luminex Austin                    1                  (4)
Goosehead Insurance Westlake                  (0)                    8
Santander Consumer USA Dallas                  (6)                337
Helen of Troy El Paso                  (6)                  41
SailPoint Technoligies Austin                  (9)                  (7)
AZZ Inc Fort Worth                (11)                  10
Spirit Realty Capital Dallas                (16)                  44
Texas Capital Bancshares Dallas                (21)                105
Argo Group Intl San Antonio                (22)                100
PROS Holdings Houston                (23)                (17)
Resideo Technologies Austin                (25)                  84
Sysco Corp Houston                (29)                431
Q2 Holdings Austin                (34)                (19)
El Paso Electric El Paso                (46)                    8
TPG Specialty Lending Fort Worth                (53)                  39
Huntsman Corp The Woodlands                (62)                153
Cinemark Holdings Plano                (63)                  45
Reata Pharmaceuticals Irving                (71)                (29)
Sunnova Energy Intl Houston                (77)                (35)
KBR Inc Houston                (85)                  58
Comerica Dallas                (86)                424
Michaels Companies Irving                (96)                  52
Six Flags Entertainment Grand Prairie              (107)                (94)
Southwest Air Dallas              (144)                504
Howard Hughes Corp Dallas              (159)                  43
Main Street Capital Houston              (171)                  41
Jacobs Engineering Group Dallas              (177)                112
Sabre Southlake              (237)                  71
Mr. Cooper Group Coppell              (239)              (233)
American National Insurance Galveston              (299)                285
Kirby Houston              (392)                  58
Cadence Bancorp Houston              (433)                  75
CenterPoint Energy Houston           (1,400)                157
American Air Lines Fort Worth           (2,890)                245
Total all 103 Texas Non-Oil & Gas Companies             7,483           15,908 -53%
   
Total all 154 Texas Companies         (66,988)           35,150 -291%