Saturday, September 12, 2020

The 60 Largest Ohio Companies Total Pretax Earnings Declined Precipitously By 92% in the First Half of 2020, Going From $23.7 Bil in the First Half of 2019 to Only $1.8 Bil in the First Half of 2020

From a review of Company SEC filings and the Google Finance website, I found 60 Ohio Companies with stock market caps of above $1 bil in mid-June 2020.  Of these 60 Ohio Companies, 50 or 83% of them had June 2020 quarter ends, 7 had July 2020 quarter ends and 3 had May 2020 quarter ends.

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 excellent Ohio 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
Ohio Largest Companies   Quarter Quarter Quarter Quarter
Stock Market Caps Above $1 Bil City HQs 2020 2019 2020 2019
    mils $ mils $ mils $ mils $
Advanced Drainage Systems Hilliard            98        (206)            (7)              3
Air Transport Services Group Wilmington        (106)          (23)          141            28
Alliance Data Systems Columbus, OH / Plano, TX            47          194            25          213
American Electric Power Columbus          508          387          516          600
American Financial Group Cincinnati          218          259        (388)          413
Applied Industrial Technologies Cleveland            40            62          (85)            26
Atricure Mason            (8)            (4)          (16)            (6)
Avient Avon Lake            31            31            45            31
Big Lots Columbus          607              8            68            23
Cardinal Health Dublin          815          238          478          370
CBIZ Cleveland            28            22            50            51
Cedar Fair LP Sandusky        (169)            78        (265)        (104)
Chemed Cincinnati          100            64            69            51
Cincinnati Financial Fairfield       1,145          530     (1,576)          867
Cintas Cincinnati          182          289          289          252
Cleveland-Cliffs Cleveland        (133)          183        (101)          (26)
Cooper Tire & Rubber Findlay            (7)            15          (12)            14
Dana Inc Maumee        (147)        (126)            20          115
Eaton Corp plc Cleveland            47          738          621          603
Fifth Third Bancorp Cincinnati          244          577              60          996
First Financial Bancorp Cincinnati            45            66            35            56
FirstEnergy Akron          373          422          (36)          448
Goodyear Tire & Rubber Akron        (889)            82        (368)          (38)
GrafTech Intl Ltd Brooklyn Heights          113          234          146          230
Greif Delaware            31            92            42            33
Huntington Bancorp Columbus          181          427            58          421
Installed Building Products Columbus            34            25            22            12
JM Smucker Orrville          314          207          298          102
KeyCorp Cleveland          215          510          168          488
Krogers Cincinnati       1,061          380       1,585          989
L Brands Columbus          (60)            42        (412)            60
Lancaster Colony Westerville            40            44            31            39
Lincoln Electric Holdings Cleveland            34          103            76            93
Macy's Cincinnati, OH / New York, NY        (729)          116     (4,157)          163
Marathon Petroleum Corp Findlay          636       1,720   (12,155)          363
Materion Mayfield Heights              8            19            (4)            21
Medpace Holdings Cincinnati            30            34            36            25
Mettler-Toledo Columbus          155          155          118          126
MPLX LP Findlay          655          656     (2,716)          688
Nordson Westlake            96          119          117          116
O-I Glass Perrysburg        (119)            98            81          111
Owens-Corning Toledo          135          198        (893)            82
Park National Newark            35            27            27            30
Parker Hannifin Cleveland          371          513          454          529
Procter & Gamble Cincinnati       3,461     (5,065)       3,498       3,278
Progressive Corp Mayfield Village       2,269       1,244          875       1,568
RPM Intl Medina          147          177            16              4
Scott's Miracle Gro Marysville          266          237          334          523
Sherwin-Williams Cleveland          747          676          392          299
SITE Centers Beachwood            (4)            18            35            36
Steris plc Mentor          107            99          148          133
Teradata Dayton, OH / San Diego, CA            (3)              5          (14)          (10)
TFS Financial Cleveland            33            23            18            26
Timken North Canton            90          129          114          137
TransDigm Group Cleveland            34          183          337          263
Vertiv Holdings Columbus            41            (3)        (255)          (56)
Victory Capital Brooklyn Heights            59            19            74            19
Welltower Toledo              4          162            76          136
Wendy's Dublin            31            46            21            40
Worthington Industries Columbus            17            48            23            38
Total all 60 Ohio Companies     13,604       7,603   (11,823)     16,141
… % Change From Prior Year Quarter 79% -173%
Total Pretax Income (Losses)
….. First Half of 2020       1,781
….. First Half of 2019     23,744
………. % Decline -92%