Tuesday, September 8, 2020

Florida Companies Were in a Deep Earnings Economic Depression in the First Half of 2020 ..... The 122 Largest Florida Companies Total Pretax Earnings Declined By 132% in the Second Quarter of 2020 and Declined By An Even Higher 202% in the First Quarter of 2020 ..... Total Pretax Losses Were $9.3 Bil in the First Half of 2020 vs Total Pretax Earnings of $15.1 Bil in the First Half of 2019

From a review of Company SEC filings and the Google Finance website, I found 122 Florida Companies with stock market caps of above $100 mil in mid-June 2020.  Of these 122 Florida Companies, 111 or 91% of them had June 2020 second quarter ends, 4 had May 2020 second quarter ends and 7 had July 2020 second quarter end ends.  And 4 of them haven't released their second quarter earnings yet.

The table below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the second and first quarters of both 2020 and 2019 for each of these 122 fine Florida Companies.


US US US US
GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax
Income Income Income Income
(Loss) (Loss) (Loss) (Loss)
Second Second First First
Quarter Quarter Quarter Quarter
Florida Largest Companies Florida 2020 2019 2020 2019
Stock Market Caps Above $100 Mil City HQs mils $ mils $ mils $ mils $
ACI Worldwide Naples            20          (17)          (35)          (39)
ADT Inc Boca Raton        (135)        (127)        (378)          (89)
Advanced Disposal Services Ponte Vedra              8          (21)            (8)            (7)
Affiliated Managers Group West Palm Beach            67          216            42        (195)
AIM ImmunoTech  Ocala            (3)            (2)            (4)            (3)
Alico Inc Fort Myers              2            22              5            10
Alpine Income Property Trust Daytona Beach              0              1              0              1
Amerant Bancorp Coral Gables          (19)            16              4            17
Applied Genetic Technologies Alachua  NA   NA           (11)            12
Apyx Medical Clearwater            (6)            (4)            (7)            (6)
ARMOUR Residential REIT Vero Beach            52        (183)        (407)        (114)
AutoNation Fort Lauderdale          377          138        (271)          126
AxoGen Alachua            (8)            (7)            (8)          (10)
BankUnited Miami Lakes            97          109          (40)            90
BBX Capital Corp Fort Lauderdale          (31)            (9)          (37)              6
Benefytt Technologies Tampa          (11)              6          (59)              5
Black Knight Jacksonville            82            60            53            50
Blink Charging Co Miami Beach            (3)            (2)            (3)            (2)
Bloomin Brands Tampa        (128)            31          (54)            71
Bluegreen Vacations Boca Raton          (12)          (10)              1            22
Bright Mountain Media Boca Raton            (3)            (1)            (4)            (1)
Brown & Brown Daytona Beach          129          124          205          149
BRP Group Tampa            (8)            (3)              5            10
Capital City Bank Group Tallahassee            16            10              5              8
Carnival Miami     (4,385)          459        (770)          338
Carrier Global Corp Palm Beach Gardens          375          859          295          543
Catalyst Pharmaceuticals Coral Gables            10            11            11            (1)
Celsius Holdings Boca Raton              2            (1)              1            12
Chatham Lodging Trust West Palm Beach          (27)            10          (28)              2
Chewy Dania Beach  NA   NA           (48)          (30)
Chico's FAS Fort Myers          (63)            (2)        (255)              5
Citrix Systems Fort Lauderdale          129          107          191          118
Coro Global Miami            (2)            (1)            (1)            (2)
Cross Country Healthcare Boca Raton          (14)          (17)            (2)            (4)
CSX Corp Jacksonville          652       1,146       1,013       1,064
CTO Realty Growth Inc Daytona Beach            17            12          (16)              7
Darden Restaurants Orlando        (610)          218          265          253
Digital Media Solutions Clearwater            (0)            (1)            (1)            (0)
Dyadic International Jupiter            (3)            (3)            (2)            (2)
Dycom Industries Palm Beach Gardens            49            43          (30)            20
Element Solutions Fort Lauderdale              8              8            13          (14)
EVI Industries Miami  NA   NA               0              1
Federated National Holding Co Sunrise          (33)            10              2            (5)
Fidelity National Financial Jacksonville          401          353          (86)          264
Fidelity National Information Services Jacksonville            32          199          (11)          188
Fresh Del Monte Produce Coral Gables            22            48            13            46
FRP Holdings Inc Jacksonville              6              4              2              2
Gencor Industries Orlando              5              3            (1)              9
GEO Group Boca Raton            38            45            32            45
Hackett Group Miami            (5)            10              8              8
HCI Group Tampa            12            10              1              9
Heico Hollywood            66          114          105          116
Helios Technologies Sarasota            14            22          (13)            21
Hemisphere Media Group Coral Gables            (4)              1          (11)              1
Herc Holdings Bonita Springs              0            15            (3)          (10)
Heritage Insurance Holdings Clearwater              5              1            11              9
Hertz Global Holdings Estero     (1,044)            44        (361)        (149)
Hilton Grand Vacations Orlando          (56)            54              9            75
Icahn Enterprises Holding LP Sunny Isles, FL /       New York, NY          992        (565)     (2,486)        (658)
International Money Express Miami            12            10              8              4
Iradimed Winter Springs            (3)              2              1              2
Jabil St Petersburg            14            84            29          101
Kaival Brand Innovations Group Grant  NA   NA               4            (0)
Kemet Corp (Acquired by Yageo) Fort Lauderdale  NA   NA             14            48
Kforce Tampa            14            21            13            11
L3Harris Technologies Melbourne          336          302          221          283
Landstar System Jacksonville            31            80            53            80
Lennar Miami          677          559          424          319
MarineMax Clearwater            46            26              7              7
Marriott Vacations Worldwide Orlando          (81)            74        (163)            39
Masonite Intl Tampa            49            35            40              5
MasTec Coral Gables            78          160            36            55
Mednax Sunrise            11            32          (14)            51
Mosaic Co Tampa, FL / Plymouth, Minnesota            73        (271)        (317)          177
National Beverage Fort Lauderdale  NA   NA             34            32
National Retail Properties Orlando            46            79            65            80
Nextera Energy Juno Beach       1,314       1,263            73          680
NextEra Energy Partners LP Juno Beach          140        (134)        (795)        (128)
Norwegian Cruise Line Miami        (724)          246     (1,887)            84
NV5 Global Hollywood              7              9              6              7
Ocean Bio Chem Fort Lauderdale              4              1              1              1
Office Depot Boca Raton        (475)          (31)            66              9
OPKO Health Miami            40          (58)          (58)          (78)
Orchid Island Capital Vero Beach            49              4          (91)            11
Overseas Shipholding Group Tampa              7            (3)            38            10
PetMed Express Del Ray Beach            10              7              9              9
PGT Innovations North Venice              2            22            20            11
Prime Water Group Tampa        (133)              5          (31)          (24)
Professional Holding Corp Coral Gables              4              1            (1)            (0)
Raymond James Financial St Petersburg          198          342          239          347
Rayonier Wildlight              3            26            30            32
Rayonnier Advanced Materials Jacksonville          (32)          (29)          (26)          (39)
Red Violet Boca Raton            (3)            (4)            (1)            (1)
Regency Centers Jacksonville            20            53          (36)            61
Restaurant Brands Intl Miami, FL / Toronto, Canada          115          354          270          302
Roper Technologies Sarasota          284          322          305          419
Royal Caribbean Cruises Miami     (1,632)          480     (1,437)          257
Ruth's Hospitality Group Winter Park          (25)            11            (5)            16
Ryder System Miami          (95)          103        (114)            68
SBA Communications Boca Raton            23            48        (194)            36
Seacoast Banking Corp Florida Stuart            32            30              1            29
Seacor Holdings Fort Lauderdale            14            21            (8)            18
SeaWorld Entertainment Orlando        (123)            75          (77)          (52)
SharpSpring Gainesville            (1)            (4)            (3)            (3)
South State Corp (Was CenterState Bank) Winter Haven        (110)            52            28            56
Spirit Airlines Miramar        (213)          149          (75)            72
St Joe Co Watersound            25            14            (2)              3
Superior Group of Companies Inc Seminole            19              4              5              3
Sykes Enterprises Tampa            29            14            19            16
Tech Data (Acquired By Apollo Global Mgt) Clearwater  NA   NA             60            72
TherapeuticsMD Boca Raton          (52)          (55)          (57)          (40)
TopBuild Daytona Beach            72            67            61            47
Tupperware Brands Orlando            83            62            (8)            52
Universal Insurance Holdings Fort Lauderdale            27            51            28            54
Vector Group Ltd Miami            37            57            (4)            22
Veru Inc Miami            (3)            (3)            (1)            (4)
Watsco Coconut Grove          129          133            44            54
Welbilt New Port Richey          (25)            27          (15)            (3)
Willis Lease Finance Corp Coconut Creek            10            22              9            28
World Fuel Services Miami            (3)            58            58            51
Wyndham Destinations Orlando        (153)          162        (178)          112
Xenia Hotel & Resorts Orlando        (105)            19          (44)            23
Total all 122 Florida Cos     (2,835)       8,749     (6,482)       6,386
… % Change From Prior Year Quarter -132% -202%
Total Pretax Income (Losses)
….. First Half of 2020     (9,317)
….. First Half of 2019     15,134
………. % Decline -162%