Tuesday, September 8, 2020

The 19 Largest Iowa Companies Total Pretax Earnings Declined Precipitously By 96% in the First Half of 2020, Going From $3.090 Bil in the First Half of 2019 to only $134 Mil in the First Half of 2020

From a review of Company SEC filings and the Google Finance website, I found 19 Iowa Companies with stock market caps of above $100 mil recently.  Of these 19 Iowa Companies, 17 or 89% of of them had June 2020 second quarter ends, one had a May 2020 second quarter end and one had a July 2020 second quarter end.

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 19 fine Iowa 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
Iowa Largest Companies 2020 2019 2020 2019
Stock Market Caps Above $100 Mil City HQs mils $ mils $ mils $ mils $
American Equity Investment Life West Des Moines        (316)            23          270          (39)
Ames National Corp Ames              5              6              4              5
Athene Holding Ltd West Des Moines       1,081          750     (1,382)          740
Casey's General Stores Ankeny          158          112            79            30
FBL Financial Group West Des Moines            33            36            (6)            40
FGL Holdings (Acquired By Fidelity Natl Fincl) Des Moines  NA   NA         (337)          180
Flexsteel Industries Dubuque          (31)          (26)            (8)          (20)
Heartland Express North Liberty            25            30            18            22
Heartland Financial USA Dubuque            38            59            26            40
Hills Nancorporation Hills            15            14              9            14
HNI Corp Muscatine            13            21          (26)              2
Meredith Des Moines          (11)            (9)        (333)            41
MidWestOne Financial Iowa City            14            13            (4)              9
Principal Financial Des Moines          499          450          328          526
Renewable Energy Group Ames              2          (58)            78          (42)
United Fire Group Cedar Rapids              4            (5)        (105)            55
West Bancorporation West Des Moines            10              8            10              8
Winnebago Industries Forest City          (17)            45            21            25
Workiva Ames          (20)            (8)          (10)            (7)
Total all 19 Iowa Companiess       1,502       1,461     (1,368)       1,629
… % Change From Prior Year Quarter 3% -184%
Total Pretax Income (Losses)
….. First Half of 2020          134
….. First Half of 2019       3,090
………. % Decline -96%




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