Saturday, September 26, 2020

The 10 Largest Delaware Companies Total Pretax Earnings Declined By an Off-the-Charts 331% in the Second Quarter of 2020, After Their Decline by an Even More Off-the-Charts 457% in the First Quarter of 2020. The Trump Administration's Highly-Touted Strong US Economy Clearly Hasn't Hit Delaware.

From a review of Company SEC filings and the Google Finance website, I found 10 Companies headquartered in Delaware with stock market caps of above $1 bil in mid-June 2020.  All 10 Delaware 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 and first quarters of both 2020 and 2019 for each of these 10 excellent Delaware 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
Delaware Largest Companies   2020 2019 2020 2019
Stock Market Caps Above $1 Bil City HQs mils $ mils $ mils $ mils $
Corteva  Wilmington          844          753          408        (251)
Incyte Corp  Wilmington          307          109        (704)          104
Navient  Wilmington          170          194        (131)          164
Ashland Global Holdings  Wilmington, DE / Covington, KY            62            22        (585)            46
Interdigital Wireless  Wilmington            26            11              0            (6)
Chemours Co  Wilmington            20          133            77          107
Chesapeake Utilities  Wilmington            13            12            40            38
WSFS Financial  Wilmington          (10)            46            12            19
SLM Corp  Newark        (116)          184          484          214
DuPont de Nemours  Wilmington     (2,507)        (948)        (566)        (165)
Total all 10 Delaware Companies     (1,191)          516        (965)          270
… % Change From Prior Year Quarter -331% -457%