Saturday, September 26, 2020

The 37 Largest Maryland Companies Total Pretax Earnings Declined Sharply By 54% in the First Half of 2020. The Trump Administration's Highly-Touted Strong US Economy Hasn't Hit Maryland.

From a review of Company SEC filings and the Google Finance website, I found 37 Maryland Companies with stock market caps of above $1 bil in early June 2020.  Of these 37 Maryland Companies, 35 or 95% of them had June 2020 second quarter ends, 1 had a July 2020 second quarter end 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 37 excellent Maryland 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
 Maryland Largest Companies Quarter Quarter Quarter Quarter
Stock Market Caps Above $1 Bil  City HQs  2020 2019 2020 2019
mils $ mils $ mils $ mils $
Lockheed Martin Bethesda       1,962       1,683       2,030       1,945
T Rowe Price Baltimore          969          740          207          735
AGNC Investment Corp Bethesda          718          444     (2,421)          265
Discovery Inc Silver Spring          456          716          537          571
Sinclair Broadcasting Group Hunt Valley          327            46          139            28
McCormick & Co Hunt Valley          226          172          164          160
Ciena Hanover          181          117          117            71
United Therapeutics Silver Spring          134          250          172        (651)
Emergent BioSolutions Gaithersburg          121          (15)          (21)          (38)
Omega Healthcare Investors Hunt Valley          101            76            92            72
Walker & Dunlop Bethesda            84            57            60            56
Legg Mason Baltimore            69            80          101            75
Supernus Pharmaceuticals Rockville            47            43            29            24
Eagle Bancorp Bethesda            38            51            31            46
Medifast Owings Mills            28            28            24            25
Corporate Office Properties Trust Columbia            25          109            25            22
WillScot Baltimore / Phoenix, AZ            13          (13)            (3)          (10)
Federal Realty Investment Trust Rockville            11            83            56            62
Hannon Armstrong Sustainable Infrastr Capital Annapolis Junction            11            14            26            11
Enviva Partners LP Bethesda              8            (4)              8            (9)
Inovalon Holdings Bowie              1              5            (5)          (10)
WR Grace Columbia            (3)            95            58            36
Choice Hotels Intl Rockville            (3)            94            30            36
Tenable Holdings Columbia          (10)          (21)          (22)          (21)
Novavax Gaithersburg          (18)          (40)          (26)          (43)
Sandy Spring Bancorp Olney          (20)            37            10            40
Colfax Annapolis Junction          (33)              8            22          (19)
Regenxbio Rockville          (34)            (2)          (40)          (32)
JBG Smith Properties Chevy Chase          (41)            (3)            46            27
2U Inc Lanham          (67)          (47)          (61)          (22)
Diamondrock Hospitality Bethesda          (80)            34          (41)              5
RLJ Lodging Trust Bethesda        (128)            37          (32)            30
Pebblebrook Hotel Trust Bethesda        (134)            67            31              1
Under Armour Baltimore        (186)          (19)        (563)            30
Laureate Education Baltimore        (294)          182        (111)        (153)
Marriott Intl Bethesda        (298)          314            19          432
Host Hotels & Resorts Bethesda        (402)          306          (40)          191
Total all 37 Maryland Companies       3,779       5,724          648       3,988
… % Change From Prior Year Quarter -34% -84%
Total Pretax Income (Losses)
….. First Half of 2020       4,427
….. First Half of 2019       9,712
………. % Decline -54%