Tuesday, September 22, 2020

The 60 Largest New Jersey Companies Total Pretax Earnings Dropped Sharply By 53% in the Second Quarter of 2020, Substantially Worse Than Their 30% Decline in the First Quarter of 2020. The Trump Administration's Reputedly Strong US Economy Hasn't Hit New Jersey.

From a review of Company SEC filings and the Google Finance website, I found 60 Companies operationally headquartered in New Jersey with stock market caps of above $1 bil in mid-June 2020 or in a subsequent IPO.  Of these 60 New Jersey Companies, 55 or 92% of them had June 2020 second quarter ends, 4 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 60 fine New Jersey 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
New Jersey Largest Companies 2020 2019 2020 2019
Stock Market Caps Above $1 Bil City HQs mils $ mils $ mils $ mils $
Johnson & Johnson  New Brunswick       3,940       7,041       6,509       4,422
Merck  Kenilworth       3,519       3,259       3,838       3,067
Honeywell Intl Charlotte NC / Morris Plains, NJ       1,219       1,982       1,935       1,842
Public Service Enterprise Newark          560          133          492          849
PBF Energy Parsippany          551          (32)     (1,437)          322
Automatic Data Processing Roseland          531          633       1,077          985
Cognizant Technology Teaneck          495          676          510          583
Zoetis Parsippany          482          455          497          381
NRG Energy Princeton          414          188          144            98
Quest Diagnostics Secaucus          255          265          118          213
Becton Dickinson Franklin Lakes          248          460          200              3
Everest Re Group Ltd Liberty Corner          237          372          (44)          415
Church & Dwight Ewing          236          170          299          225
American Water Works Camden          232          227          159          152
Verisk Analytics Jersey City          225          187          217          170
Catalent Somerset          179            80            30            43
Valley National Bancorp Wayne, NJ / New York, NY          129          104          116          171
Campbell Soup Camden          107            (1)          218          156
Clearway Energy Princeton          102          (32)        (129)          (54)
Newell Brands Hoboken, NJ / Atlanta, GA            93          153     (1,483)          (94)
B&G Foods Parsippany            61            25            35            22
Investors Bancorp Short Hills            59            65            54            67
Selective Insurance Group Branchville            43            90            16            74
Monmouth RE Investment Corp Freehold            33              2          (68)            28
John Wiley & Sons Hoboken            30              4        (168)            77
OceanFirst Financial Toms River            25            23            21            26
Columbia Financial Fair Lawn            20            16              9            18
Urban Edge Properties Paramus            19            29            51            28
Phibro Animal Health Teaneck            16              9            19            20
Alexander's Inc Paramus            12            11              5            18
Essential Properties Realty Trust Princeton             11            11            14              9
Middlesex Water Co Iselin              9              8              6              6
Commvault Systems Tinton Falls              7            (5)            (1)              2
Integra Lifesciences Holdings Plainsboro              2            36            11            25
Universal Display Ewing              0            52            47            37
Freshpet Secaucus              0            (6)            (4)            (3)
South Jersey Industries Folsom            (5)          (20)          132          108
Cantel Medical Little Falls            (6)            12            12            12
Vonage Holdings Holmdel            (7)            (9)            (4)          (11)
Pacira Pharmaceuticals Parsippany            (7)              1              8            (3)
Tabula Rasa Health Care Moorestown          (15)            (9)          (18)          (15)
Covanta Holding Morristown          (17)          (27)          (38)              7
J&J Snack Foods Pennsauken          (18)            43            11            28
Phathom Pharmaceuticals Florham Park          (21)          (88)          (20)            (1)
New Jersey Resources Wall          (33)          (14)            83            67
Mack-Cali Realty Jersey City          (43)          (22)          (32)          267
Amicus Therapeutics Cranbury          (49)          (84)          (89)        (120)
Insmed Bridgewater          (61)          (66)          (66)          (74)
Immunomedics Morris Plains          (66)          (76)          (93)          (87)
Burlington Stores Burlington        (110)            96        (539)            94
Legend Biotech Somerset        (135)          (28)          (48)          (12)
CIT Group Livingston        (159)          170        (697)          157
PTC Therapeutics South Plainfield        (181)          (41)        (112)          (72)
Dun & Bradstreet Holdings Short Hills        (202)          (86)            (1)        (350)
Wyndham Hotels & Resorts Parsippany        (222)            36            31            26
Chubb Warren, NJ / Philadelphia, PA        (393)       1,358          467       1,228
Bausch Health Bridgewater, NJ / Quebec, Canada        (437)        (179)        (178)        (122)
Bed Bath & Beyond Union        (478)        (423)          (97)        (312)
Avis Budget Group Parsippany        (609)            81        (265)        (136)
Prudential Financial Newark     (2,332)          876        (338)       1,140
Total all 60 New Jersey Cos       8,496     18,191     11,422     16,222
… % Change From Prior Year Quarter -53% -30%