Friday, September 11, 2020

Nevada Companies Were in a Severe Earnings Economic Depression in the Second Quarter of 2020 ..... The 14 Largest Nevada Companies Total Pretax Earnings Declined By 236% in the Second Quarter of 2020, Going From Total Pretax Income of $2.0 Bil in the Second Quarter of 2019 to Total Pretax Losses of $2.8 Bil in the Second Quarter of 2020

From a review of Company SEC filings and the Google Finance website, I found 14 Nevada Companies with stock market caps of above $1 bil in mid-June 2020.  All 14 Nevada Companies had June 2020 second quarter ends.  

The table below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the second quarter of both 2020 and 2019 for each of these 14 fine Nevada Companies.


US US
GAAP GAAP
Pretax Pretax
Income Income
(Loss) (Loss)
  Second Second
    Quarter Quarter
Nevada Largest Companies   2020 2019
Market Caps Above $1 Bil City HQs mils $ mils $
MGM Resorts Intl Las Vegas     (1,207)                  88
Las Vegas Sands Las Vegas     (1,039)             1,344
Wynn Resorts Ltd Las Vegas        (654)                140
Scientific Games Las Vegas        (196)                (68)
Allegiant Travel Las Vegas        (146)                  92
Boyd Gaming Las Vegas        (146)                  66
New Caesars Entertainment (Was Eldorado Resorts) Reno        (134)                  29
Red Rock Resorts Las Vegas        (118)                  (8)
Switch Las Vegas            15                    5
Ormat Technologies Reno            35                  31
Southwest Gas Holdings Las Vegas            49                  29
MGM Growth Properties LLC Las Vegas          100                  72
Amerco Reno          114                175
Cannae Holdings Las Vegas          540                  50
Total all 14 Nevada Companies     (2,787)             2,045
… % Change From Prior Year Quarter -236%