Monday, August 10, 2020

The Many High-Quality Texas Non-Oil & Gas Companies Performed Substantially Better on the Audited Annual Pretax Earnings Growth Front During the Obama Administration's Eight Years in Office (2009-2016) .....Up an Average of an Incredible 797% Per Year ..... Than They Did During the Trump Administration's First Three Full Years in Office (2017-2019) ..... Up 2% Per Year. This Shows the Resiliency of These Texas Non-Oil & Gas Cos, Especially Since the Earnings of the Texas Oil & Gas Cos Dropped Precipitously Over This Same Eight-Year Period (2009-2016).

From a review of SEC filings and Google Finance, there were 85 Texas Non-Oil & Gas Companies with stock market caps of above $1 bil 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 only included Companies with headquarters located in Texas in at least 6 of these 12 years.  And I included Power Generator Calpine, which was sold for $5.6 bil in late 2017 but continued to file annual 10-Ks on the same accounting basis with the SEC through 2019.   

The table below shows the Pretax Income (Loss) From Continuing Operations for each of these 85 Texas Non-Oil & Gas 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 Audited Audited Audited Annual  Annual 
Audited Pretax Pretax Pretax % Change % Change
Fincl Income Income Income During During
Texas Sts (Loss) (Loss) (Loss) Trump Obama
Texas Non-Oil & Gas Companies City State 2019 FYE FYE FYE Admin's Admin's
Stock Market Caps Above $1 Bil HQs HQs FYE 2019 2016 2008 3 Years 8 Years
 $ mils  $ mils  $ mils 2017-19 2009-16
AT&T Dallas TX Dec 19       18,468       19,812        (4,572) -2% NM
Texas Instruments Dallas TX Dec 19         5,728         4,930         2,481 5% 12%
LyondellBasell Industries Houston TX Dec 19         4,052         5,233        (8,191) -8% NM
Southwest Air Dallas TX Dec 19         2,957         3,450            278 -5% 143%
Kimberly Clark Irving TX Dec 19         2,650         3,009         2,289 -4% 4%
American Air Lines Fort Worth TX Dec 19         2,256         4,152        (2,118) -15% NM
D R Horton Arlington TX Sep 19         2,125         1,354        (2,632) 19% NM
Waste Management Houston TX Dec 19         2,105         1,822         1,797 5% 0%
Sysco Corp Houston TX Jun 19         2,006         1,433         1,791 13% -2%
Comerica Dallas TX Dec 19         1,532            670            271 43% 18%
Santander Consumer USA Dallas TX Dec 19         1,354         1,161            262 6% 43%
Celanese Irving TX Dec 19            988         1,030            433 -1% 17%
Globe Life McKinney TX Dec 19            931            772            628 7% 3%
CenterPoint Energy Houston TX Dec 19            929            686            723 12% -1%
Calpine Corp Houston TX Dec 19            888            159           (385) 153% NM
Crown Castle Houston TX Dec 19            881            374           (153) 45% NM
Alliance Data Systems Plano, TX / Columbus, OH TX Dec 19            738            837            380 -4% 15%
Waste Connections The Woodlands, TX / Toronto TX Dec 19            706            361            172 32% 14%
American National Insurance Galveston TX Dec 19            694            211           (301) 76% NM
Atmos Energy Dallas TX Sep 19            650            542            293 7% 11%
Quanta Services Houston TX Dec 19            572            308            267 29% 2%
Westlake Chemical Houston TX Dec 19            570            558             (58) 1% NM
Lennox Intl Richardson TX Dec 19            508            403            204 9% 12%
Cullen/Frost Bankers San Antonio TX Dec 19            499            341            297 15% 2%
Service Corp Intl Houston TX Dec 19            464            327            163 14% 13%
Prosperity Bancshares Houston TX Dec 19            419            409            126 1% 28%
Texas Capital Bancshares Dallas TX Dec 19            407            241              38 23% 67%
Huntsman Corp The Woodlands TX Dec 19            391            474            702 -6% -4%
Darling Ingredients Irving TX Dec 19            380            123              90 70% 5%
Nexstar Media Group Irving TX Dec 19            373            171             (83) 39% NM
Sally Beauty Holdings Denton TX Sep 19            362            354            124 1% 23%
Michaels Companies Irving TX Jan 20            358            582               (2) -13% NM
Flowserve Irving TX Dec 19            342            213            593 20% -8%
Six Flags Entertainment Grand Prairie TX Dec 19            312            233              59 11% 37%
Weingarten Realty Investors Houston TX Dec 19            303            263              50 5% 53%
Hilltop Holdings Dallas TX Dec 19            300            231             (42) 10% NM
Tenet Healthcare Dallas TX Dec 19            296            248              54 6% 45%
Builders FirstSource Dallas TX Dec 19            283              22           (138) 395% NM
CoPart Dallas, TX  /  Fairfield CA TX July 19            277            396            250 -10% 7%
Cinemark Holdings Plano TX Dec 19            274            361             (23) -8% NM
KBR Inc Houston TX Dec 19            268              33            568 237% -12%
Commercial Metals Irving TX Aug 19            268              76            357 84% -10%
International Bancshares Laredo TX Dec 19            260            197            202 11% 0%
Group 1 Automotive Houston TX Dec 19            227            227             (77) 0% NM
Camden Property Trust Houston TX Dec 19            225            457               (6) -17% NM
FirstCash Fort Worth TX Dec 19            225              93              58 47% 8%
Rent-A-Center Plano TX Dec 19            224           (113)            221 NM -19%
Trinity Industries Dallas TX Dec 19            201            310            454 -12% -4%
First Financial Bankshares Abilene TX Dec 19            198            136              74 15% 10%
Diodes Inc Plano TX Dec 19            198              25              28 231% -1%
Kirby Houston TX Dec 19            190            228            256 -6% -1%
Insperity Kingwood TX Dec 19            190            105              72 27% 6%
Rush Enterprises New Braunfels TX Dec 19            190              66              39 63% 9%
Spirit Realty Capital Dallas TX Dec 19            187              30              25 174% 3%
National Instruments Austin TX Dec 19            181            115              98 19% 2%
Cirrus Logic Austin TX Mar 20            181            315                6 -14% 644%
Brinker Intl Dallas TX Jun 19            172            286              48 -13% 62%
Helen of Troy El Paso TX Feb 20            166            156             (51) 2% NM
Tyler Technologies Plano TX Dec 19            160            136              29 6% 46%
El Paso Electric El Paso TX Dec 19            157            151            115 1% 4%
TPG Specialty Lending Fort Worth TX Dec 19            155            137                0 4% NM
Comfort Systems USA Houston TX Dec 19            152            101              81 17% 3%
Main Street Capital Houston TX Dec 19            131            138                8 -2% 203%
Kronos Worldwide Dallas TX Dec 19            121              61                6 33% 115%
Stewart Info Services Group Houston TX Dec 19            117              88           (237) 11% NM
Integer Holdings Frisco TX Dec 19            105              28              21 92% 4%
Howard Hughes Corp Dallas TX Dec 19            104            321             (15) -23% NM
HMS Holdings Irving TX Dec 19            104              49              36 37% 5%
American Campus Communities Austin TX Dec 19              88            102             (11) -5% NM
Southside Bancshares Tyler TX Dec 18              88              60              42 16% 5%
Alamo Group Sequin TX Dec 19              84              62              17 12% 33%
Encore Wire McKinney TX Dec 19              76              51              60 16% -2%
US Physical Therapy Houston TX Dec 19              71              38              24 29% 7%
Cardtronics plc Houston TX Dec 19              65            115             (71) -14% NM
RealPage Richardson TX Dec 19              61              27               (3) 42% NM
Silicon Labs Austin TX Dec 19              50              64              53 -7% 3%
Eagle Materials Dallas TX Mar 20              46            295              62 -28% 47%
Atrion Allen TX Dec 19              43              39              23 3% 9%
CyrusOne Dallas TX Dec 19              38              22                6 24% 33%
Addus HomeCare Corp Frisco TX Dec 19              33              16                5 35% 28%
SolarWinds Corp Austin TX Dec 19              28           (484)              33 NM -196%
Argo Group Intl San Antonio TX Dec 19                0            182              86 -33% 14%
Luminex Austin TX Dec 19             (10)              20                4 -50% 50%
Cornerstone Building Brands Houston TX Dec 19             (11)              79            121 -38% -4%
Pros Holdings Houston TX Dec 19             (68)             (75)              15 NM -75%
Total all 85 Texas Non-Oil & Gas Cos       66,067       62,821        (1,001) 2% 797%
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