Thursday, August 13, 2020

South Carolina Companies Performed Substantially Better on the Audited Annual Pretax Earnings Growth Front During the Obama Administration's Eight Years in Office (2009-2016) ..... Up a Blistering 48% Per Year ..... Than They Did During the Trump Administration's First Three Full Years in Office (2017-2019) .....Up a Modest 0.1% Per Year. These Companies Saw Their Total Pretax Earnings Improve By $1.5 Bil During the Obama Administration, Going From Total Pretax Losses of $0.4 Bil in 2008 to Total Pretax Earnings of $1.1 Bil in 2016.

From a review of SEC filings and Google Finance, there were 14 South Carolina Companies with stock market caps of above $100 mil recently and which reported Pretax Income (Loss) From Continuing Operations in their annual financial statement earnings information filed with the SEC for each of the most recent twelve years (Years from 2008-2019).  I included Companies which were headquartered in South Carolina for at least 6 of these 12 years. 

The table below shows the Pretax Income (Loss) From Continuing Operations for each of these 14 South Carolina Companies for fiscal year end 2019, the last year of the Trump Administration's first three full years in office so far,  for fiscal year end 2016, the year before the start of the Trump Administration as well as also the last year of the Obama Administration, and for fiscal year end 2008, the year before the start of the Obama Administration.


Average Average
Annual  Annual 
Annual Audited Audited Audited % Change % Change
Audited Pretax Pretax Pretax During During
South Fincl Income Income Income Trump Obama
Carolina Sts (Loss) (Loss) (Loss) Admin's Admin's
South Carolina Companies City State 2019 FYE FYE FYE 3 Years 8 Years
Stock Market Caps Above $100 Mil HQs HQs FYE 2019 2016 2008 2017-19 2009-16
 $ mils  $ mils  $ mils
Sonoco Products Hartsville SC Dec 19                381                441                202 -5% 15%
South State Columbia SC Dec 19                230                154                  24 16% 68%
Denny's Corp Spartanburg SC Dec 19                149                  36                  16 105% 16%
Domtar Fort Mill SC Dec 19                  88                157              (570) -15% NM
Kemet Greenville SC / Fort Lauderdale, FL SC Mar 20                  80                  10              (288) 233% NM
ScanSource Greenville SC Jun 19                  78                  96                  90 -6% 1%
Regional Management Greer SC Dec 19                  59                  39                    9 17% 42%
World Acceptance Greenville SC Mar 20                  35                106                  92 -22% 2%
Southern First Bankshares Greenville SC Dec 19                  35                  20                    2 25% 113%
First Community Corp Lexington SC Dec 19                  14                    9                (11) 19% NM
Blackbaud Charleston SC Dec 19                  11                  57                  46 -27% 3%
Delta Apparel Greenville SC Sep 18                    8                  11                  (1) -8% NM
Oconee Federal Financial Seneca SC Jun 19                    5                    7                    2 -12% 29%
3D Systems Corp Rock Hill SC Dec 19                (65)                (40)                  (6) NM NM
Total all 14 South Carolina Cos             1,108             1,103              (393) 0.1% 48%