Tuesday, September 15, 2020

The 53 Largest Virginia Companies Total Pretax Earnings Declined Very Sharply By 79% in the First Half of 2020

From a review of Company SEC filings and the Google Finance website, I found 53 Virginia Companies with stock market caps of above $1 bil in early June 2020.  Of these 53 Virginia Companies, 49 or 92% 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 53 excellent Virginia 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
 Virginia Companies Quarter Quarter Quarter Quarter
Stock Market Caps Above $1 Bil  City HQs  2020 2019 2020 2019
mils $ mils $ mils $ mils $
Altria Group Richmond       2,565       2,601       2,108       1,516
Freddie Mac McLean       2,235       1,898          218       1,765
Northop Grumman Falls Church       1,203       1,028       1,053       1,034
Markel Glen Allen       1,175          650     (1,772)          733
General Dynamics Reston          727          983          848          915
Norfolk Southern Norfolk          503          934          436          861
Dollar Tree Chesapeake          339          228          325          344
E*Trade Financial Arlington          264          295          256          392
Advance Auto Parts Roanoke          253          166            60          191
NVR Inc Reston          210          245          161          219
Verisign Reston          192          190          191          190
Leidos Holding Reston          192          179          130          246
Willis Towers Watson Arlington          177          187          391          360
Booz Allen Hamilton McLean          171          156          129          118
AvalonBay Communities Arlington          170          168          168          170
Genworth Financial Richmond          148          224          (82)          237
CACI Intl Arlington          123            63          100            81
AES Corp Arlington          105          118          320          354
Maximus Reston            86            84            37            81
BWX Technologies Lynchburg            84            78            98            63
PRA Group Norfolk            75            27          (34)            39
Science Applications Intl Reston            70            74            45            70
Huntington Ingalls Industries Newport News            65          164          216          149
Trex Co Winchester            63            48            56            39
Graham Holdings Arlington            61            74          (79)          109
Strategic Education Herndon            48            32            46            29
TowneBank Portsmouth            45            45            34            40
Parsons Corp Centreville            43          (13)            19            15
Shenandoah Telecommunications Edinburg            40            18            18            18
Beacon Roofing Supply Herndon            40            36        (204)          (95)
Mantech Intl Herndon            39            33            38            28
Atlantic Union Bankshares Richmond            36            58              8            42
Kinsale Capital Group Richmond            36            17              5            23
NewMarket Richmond            27            97          110            81
Tegna Tysons            26          105          107            97
ePLUS Herndon            25            23            18            20
American Woodmark Winchester            22            36            17            29
ICF Intl Fairfax            19            20            13            19
Alarm.com Holdings Tysons            14            14            10              9
MicroStrategy Inc Tysons Corner              5            28              2            (8)
CarMax Richmond              4          351          277          256
Perspecta Inc Chantilly              3            42        (884)          (13)
Universal Corp Richmond              2              5            27            57
Appian Reston          (12)          (10)          (12)          (15)
Iridium Communications McLean          (17)          (26)          (44)          (28)
Brink's Co Richmond          (27)            27            (9)            24
Apple Hospitality REIT Richmond          (78)            62            (3)            38
DXC Technology Tysons        (225)          206     (3,562)          354
Park Hotels & Resorts Tysons        (258)            89        (679)          104
Performance Food Group Richmond        (262)            83          (61)            44
Hilton Worldwide McLean        (444)          362          (17)          218
Capital One Financial McLean     (1,460)       2,003     (1,903)       1,719
Dominion Energy Richmond     (1,688)          101        (258)        (563)
Total all 53 Virginia Companies       7,259     14,706     (1,508)     12,818
… % Change From Prior Year Quarter -51% -112%
Total Pretax Income (Losses)
….. First Half of 2020       5,751
….. First Half of 2019     27,524
………. % Decline -79%