Saturday, September 26, 2020

The 40 Largest Connecticut Companies Total Pretax Earnings Dropped Precipitously By 78% in the Second Quarter of 2020, Even Much Worse Than Their Decline of 51% in the First Quarter of 2020. The Trump Administration's Highly-Touted Strong US Economy Clearly Hasn't Hit Connecticut.

From a review of Company SEC filings and the Google Finance website, I found 40 Connecticut Companies with stock market caps of above $1 bil in mid-June 2020.  Of these 40 Connecticut Companies, 39 or 98% of them had June 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 40 excellent Connecticut 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
Connecticut Largest Companies 2020 2019 2020 2019
Stock Market Caps Above $1 Bil City HQs mils $ mils $ mils $ mils $
Cigna Bloomfield       2,289       1,758       1,397       1,788
Charter Communications Stamford       1,042          470          496          436
Hartford Financial Services Hartford          592          456          344          775
Otis Worldwide Farmington          374          495          327          425
Amphenol Wallingford          329          370          289          350
United Rentals Stamford          251          351          226          220
Interactive Brokers Group Greenwich          222          225          308          339
Booking Holdings Norwalk          209       1,207        (722)          968
SS&C Technologies Windsor          199          155          124            97
Starwood Property Trust Greenwich          152          136          (73)            77
Fact Set Research Systems Norwalk          119          113          103          104
Hubbell Shelton          113          124          100            98
Stanley Black & Decker New Britain          111          404          146          195
People's United Financial Bridgeport          110          168          166          145
Silgan Holdings Stamford          105            40            77            60
WR Berkley Corp Greenwich          105          274            (6)          229
Avangrid Orange            70          134          242          257
Webster Financial Waterbury            68          125            49          126
Synchrony Financial Stamford            59       1,129          382       1,462
Gartner Stamford            59            91            97            21
World Wrestling Entertainment Stamford            55            14            35          (11)
Xerox Holdings Norwalk            35          190            (5)            73
RBC Bearings Oxford            28            38            43            40
Sturm Ruger Southport            25              8            21            17
Crane Stamford            19          119            80          104
Tronox Holdings plc Stamford              6          (59)            47          (28)
Barnes Group Bristol              5            50            43            44
Edgewell Personal Care Shelton, CT / Chesterfield, MO              5        (503)            28            64
Compass Diversified Holdings Westport            (1)              1              5          (12)
Kaman Bloomfield            (1)              6            (1)              7
Hexcel Stamford            (4)          103            54            91
Terex Westport            (6)          102          (26)            75
SpringWorks Therapeutics Stamford          (20)          (14)          (15)          (11)
BioXcel Therapeutics New Haven          (21)            (8)          (15)            (7)
Arvinas New Haven          (25)          (17)          (22)          (14)
EMCOR Group Norwalk        (124)          117          104          100
Biohaven Pharmaceutical Ltd New Haven        (180)        (211)        (172)          (62)
Aircastle Ltd Stamford        (187)            35          (35)            38
XPO Logistics Greenwich        (205)          191            35            71
United Technologies / Raytheon Technologies Farmington CT / Waltham, MA     (3,858)       1,234          955       1,822
Total all 40 Connecticut Companies       2,124       9,621       5,231     10,573
… % Change From Prior Year Quarter -78% -51%



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