Saturday, July 18, 2020

North Carolina Companies Performed Better on the Audited Pretax Earnings Growth Front During Obama/Biden's Last Three Years (+13.8% Per Year) Than They Did During Trump/Pence's First Three Years (+10.7% Per Year) and This Was Before the Devastating Earnings Impact From Covid-19

From a review of SEC filings and Google Finance, there were 30 North Carolina Companies with stock market caps very recently of above $1 bil and which reported consistently presented Pretax Income (Loss) From Continuing Operations in their annual financial statement earnings information filed with the SEC for each of the most recent seven years (Fiscal Years from 2013 to 2019).  Also, I included Companies which were headquartered in North Carolina during the majority of these seven years.

The table below shows the Pretax Income (Loss) From Continuing Operations for each of these seven fiscal years for each of these 30 largest North Carolina Companies.
Most
Recent Audited Audited Audited Audited Audited Audited Audited
Annual Pretax Pretax Pretax Pretax Pretax Pretax Pretax
Audited Income Income Income Income Income Income Income
North Carolina Fincl (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
North Carolina Companies City Sts FYE FYE FYE FYE FYE FYE FYE
Stock Market Caps Above $1 Bil HQs FYE 2019 2018 2017 2016 2015 2014 2013
 $ mils  $ mils  $ mils  $ mils  $ mils  $ mils  $ mils
Bank of America Charlotte Dec 19     32,754     34,584     29,213     25,021     22,187       7,963     14,733
Lowes Mooresville Jan 20       5,623       3,394       5,489       5,201       4,419       4,276       3,673
Truist / BB&T Corp Winston-Salem / Charlotte Dec 19       4,019       4,060       3,326       3,500       2,917       3,127       3,283
Nucor Corp Charlotte Dec 19       1,783       3,229       1,750       1,299          242       1,147          809
Trane Texhnologies plc Davidson Dec 19       1,742       1,660       1,418       1,741       1,248       1,209          830
Laboratory Corp of America Burlington Dec 19       1,105       1,268       1,078       1,106          726          827          916
Old Dominion Freight Line Thomasville Dec 19          824          816          576          478          490          433          329
Martin Marietta Materials Raleigh Dec 19          748          576          619          607          414          249          164
Hanesbrands Winston-Salem Dec 19          680          644          529          571          474          465          396
Advance Auto Parts Raleigh Dec 19          638          555          520          739          753          781          626
First Citizens Bancshares Raleigh Dec 19          592          504          544          351          332          204          268
Albemarle Charlotte Dec 19          563          884          531          575          339          249          570
Curtiss-Wright Davidson Dec 19          396          356          300          268          275          247          201
Qorvo Greensboro Mar 20          395            92            17            27            (3)          121            24
Sealed Air Charlotte Dec 19          370          458          393          388          291          186          104
Premier Inc Charlotte Jun 19          368          517          531          285          271          360          385
IQVIA Holdings Durham Dec 19          352          328          294          416          539          501          323
PRA Health Sciences Raleigh Dec 19          306          222            75            97          112          (44)        (128)
Sonic Automotive Charlotte Dec 19          200            75          108          155          145          162          129
Extended Stay America Charlotte Dec 19          194          254          232          198          360          196            78
BMC Stock Holdings Raleigh Dec 19          146          157            82            45          (15)            28            28
Highwoods Properties Raleigh Dec 19          142          178          192          123            86            97            43
JELD-WEN Holding Charlotte Dec 19          120          132          146          134            88          (60)          (72)
Syneos Health Morrisville Dec 19          102            57        (112)          134          131          (28)          (31)
SPX Corp Charlotte Dec 19            83            80            36            39        (154)          252              9
James River Group Hldgs Ltd Chapel Hill Dec 19            52            71            55            79            60            46            77
Coca-Cola Bottling Charlotte Dec 19            34          (13)            63            93            99            56            44
LendingTree Charlotte Dec 19            31            44            26            52            28            (1)            (1)
Brighthouse Financial Charlotte Dec 19     (1,052)          989        (615)     (4,705)       1,462       1,528       1,364
CommScope Holdings Hickory Dec 19     (1,074)          171          210          273          (62)          317            76
Total all 30 North Carolina Cos     52,236     56,342     47,626     39,290     38,254     24,894     29,250
….. % Change From Prior Year -7.3% 18.3% 21.2% 2.7% 53.7% -14.9%
Average Annual Total Pretax Income % Change
… Trump-Pence's First Three Years (2017-2019) 10.7%
… Obama-Biden's Last Three Years (2014-2016) 13.8%


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