Friday, September 11, 2020

The 41 Largest North Carolina Companies Total Pretax Earnings Declined Sharply By 57% in the Second Quarter of 2020

From a review of Company SEC filings and the Google Finance website, I found 41 North Carolina Companies with stock market caps of above $1 bil in mid-June 2020.  Of these 41 North Carolina Companies, 40 or 98% of them had June 2020 second quarter ends 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 quarter of both 2020 and 2019 for each of these 41 excellent North Carolina Companies.


US US
GAAP GAAP
Pretax Pretax
Income Income
(Loss) (Loss)
  Second Second
    Quarter Quarter
North Carolina Largest Companies   2020 2019
Stock Market Caps Above $1 Bil City HQs mils $ mils $
Advance Auto Parts Raleigh          253          166
Albemarle Charlotte            88          167
Bandwith Raleigh            (4)            (3)
Bank of America Charlotte       3,799       8,959
BMC Stock Holdings Raleigh            57            46
Brighthouse Financial Charlotte     (2,522)          469
Coca-Cola Bottling Charlotte            58            24
CommScope Holdings Hickory        (336)        (372)
Cree Inc Durham          (38)          (31)
Curtiss-Wright Davidson            43          104
Dentsply Sirona Charlotte, NC / York, PA        (120)            48
Duke Energy Charlotte     (1,208)          889
Enpro Industries Charlotte            (1)            25
Extended Stay America Charlotte          (15)            71
First Citizens Bancshares Raleigh          191          156
Hanesbrands Winston-Salem          195          175
Highwoods Properties Raleigh            39            41
Honeywell Intl Charlotte NC / Morris Plains, NJ       1,219       1,982
Ingersall Rand Davidson, NC / Milwaukee, WI          (81)            53
IQVIA Holdings Durham          (25)            78
James River Group Hldgs Ltd Chapel Hill            40            25
JELD-WEN Holding Charlotte            34            35
Kontoor Brands Greensboro          (35)            47
Laboratory Corp of America Burlington          297          270
LendingTree Charlotte          (12)              7
Lowes Mooresville       3,738       2,212
Martin Marietta Materials Raleigh          279          239
Nucor Corp Charlotte          181          535
Old Dominion Freight Line Thomasville          199          236
PPD Inc Wilmington            81            39
PRA Health Sciences Raleigh            21            66
Premier Inc Charlotte            70            78
Qorvo Greensboro            97            45
Sealed Air Charlotte          145            38
Sonic Automotive Charlotte            37            37
SPX Corp Charlotte            36            24
SPX FLOW Charlotte            11            23
Syneos Health Morrisville              8            34
Trane Texhnologies plc Davidson          362          505
Truist Financial Charlotte       1,149       1,119
V F Corp Greensboro, NC / Denver, CO         (313)            86
Total all 41 North Carolina Companies       8,017     18,747
… % Change From Prior Year Quarter -57%