Thursday, September 17, 2020

The 19 Largest Utah Companies Total Pretax Earnings Declined Precipitously By 101% in the First Half of 2020

From a review of Company SEC filings and the Google Finance website, I found 19 Utah Companies with stock market caps of above $500 mil in mid-June 2020.  Of these 19 Utah Companies, 17 or 81% of them had June 2020 second quarter ends, 3 had July 2020 second quarter ends and 1 had a May 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 highly-entrepreneurial  Utah 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
Utah Largest Companies   2020 2019 2020 2019
Stock Market Caps Above $500 Mil City HQs mils $ mils $ mils $ mils $
Extra Space Storage  Salt Lake City           109          112          113          101
Zions Bancorp  Salt Lake City             82          256            16          274
Nu Skin Enterprises  Provo             60            71            30            66
Sportsmans Warehouse Holdings  West Jordan             44              7            (2)            (7)
Usana Health Sciences  Salt Lake City             40            33            39            36
Overstock.com  Midvale             35          (28)          (19)          (42)
Freedom Holding Corp  Salt Lake City             29            10              3              3
Innovative Industrial Properties  Park City             13              3            12              4
HealthEquity  Draper             (1)            24              2            51
NovaGold Resources  Salt Lake City             (7)            (5)            (6)            (6)
Domo Inc  American Fork           (18)          (31)          (25)          (35)
Merit Medical System  South Jordan           (22)              9            (2)              7
Health Catalyst  Salt Lake City           (27)          (11)          (19)          (14)
SkyWest  St George           (33)          115            39          114
Varex Imaging  Salt Lake City           (40)            (1)            (1)              8
Pluralsight  Farmington           (40)          (41)          (47)          (34)
Purple Innovation  Lehi           (41)            (7)            20            (1)
Vivint Solar  Lehi           (52)          (58)        (102)          (62)
Myriad Genetics  Salt Lake City           (59)            (8)        (131)              3
Total all 19 Utah Cos            72          450          (80)          466
… % Change From Prior Year Quarter -84% -117%
Total Pretax Income (Losses)
….. First Half of 2020            (8)
….. First Half of 2019          916
………. % Decline -101%