Friday, September 18, 2020

The 83 Largest Los Angeles, California Area Companies Total Pretax Earnings Plummeted, Down By 110% in the Second Quarter of 2020, Even Much Worse Than Their 72% Decline in the First Quarter of 2020 . The Trump Administration's Reputedly Strong US Economy Certainly Hasn't Hit the LA Area.

From a review of Company SEC filings and the Google Finance website, I found 83 Los Angeles, CA Area Companies with stock market caps of above $1 bil in early June 2020 or later for very recent IPOs.  Of these 83 Los Angeles Area Companies, 78 or 94% 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 83 Los Angeles Area 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
Los Angeles, California  Area Largest Companies 2020 2019 2020 2019
Market Caps Above $1 Bil City HQs mils $ mils $ mils $ mils $
Amgen Thousand Oaks       2,030       2,564       2,020       2,314
Activision Blizzard Santa Monica          727          370          604          567
PennyMac Financial Services Westlake Village          480          100          415            60
PennyMac Mortgage Investment Trust Moorpark          468            33        (584)            50
Monster Beverage Corona          405          382          366          314
Molina Healthcare Long Beach          395          257          253          260
Edison International Rosemead          352          344          129          196
Public Storage Glendale          316          371          367          368
Mercury General Corp Los Angeles          285          102        (181)          167
Alexandria Real Estate Equities Pasadena          244            87            31          137
Ares Management Corp Los Angeles          241            84        (296)          136
First American Financial Santa Ana          225          229            72          142
Oaktree Capital Group Los Angeles          191          123        (441)          189
Air Lease Los Angeles          184          161          172          175
Herbalife Ltd Los Angeles          161          123            71          135
East West Bancorp Pasadena          112          223          164          195
Teledyne Technologies Thousand Oaks          108          128          101            93
Avery Dennison Glendale          103          189          181        (284)
Reliance Steel & Aluminum Los Angeles          102          246            83          256
CBRE Group Los Angeles          101          286          225          215
Aecom Los Angeles            87            89            75            70
Corelogic Irvine            80          (21)            46              3
TRI Pointe Group Irvine            75            35            42              0
KB Home Los Angeles            68            57            69            35
On Assignment Calabasas            66            59            60            48
HealthPeak Properties Irvine            65          (10)          261            62
Masimo Corp Irvine            64            56            72            60
Stamps.com El Segundo            61            22            24            22
Tetra Tech Pasadena            60            61            44            44
J2 Global Los Angeles            60            40              7            33
CVB Financial Ontario            59            77            53            73
Cathay General Bancorp Los Angeles            58            87            56            85
Ensign Group San Juan Capistrano            54            25            54            27
Aerojetdyne El Segundo            54            59            43            52
Lions Gate Entertainment Santa Monica            48          (60)          (52)        (141)
PacWest Bancorp Brea            46          178     (1,421)          147
Houlihan Lokey Los Angeles            44            49            71            62
PS Business Parks Glendale            44            49            65            47
Sabra Health Care REIT Inc Irvine            42            88            36          (77)
Hope Bancorp Los Angeles            37            57            32            57
American States Water San Dimas            34            35            18            16
American Homes 4 Rent Agoura Hills            32            40            38            33
Kilroy Realty Corp Los Angeles            24            47            45            42
OSI Systems Hawthorne            19            23            19            27
Revolve Group Cerritos            19            17              4              7
Rexford Industrial Realty Los Angeles            16            16            15            11
Semtech Corp Camarillo            16            10            11            11
AeroVironment Simi Valley            13            21            22              8
Corvel Irvine            11            17            15            16
Green Dot Corp Pasadena              7            44            59            80
Hudson Pacific Properties Los Angeles              7            13            14          (37)
TTM Technologies Inc Costa Mesa              5            11            (1)              9
LTC Properties Inc Westlake Village              2            21            64            20
Marcus & Milichap Inc Calabasas              0            30            30            33
Staar Surgical Monrovia            (1)              5            (1)              2
Chipotle Mexican Grill Newport Beach            (4)          124            74          113
Inari Medical Irvine            (4)            (1)              4            (1)
Kaiser Aluminum Corp Foothill Ranch            (5)            27            39            38
Douglas Emmett Inc Santa Monica            (5)            40            30            33
Blackline Woodland Hills            (8)            (5)          (11)            (9)
Beyond Meat El Segundo          (10)            (9)              2            (7)
Arrowhead Pharmaceuticals Pasadena          (14)            20          (20)            24
The Trade Desk Ventura          (16)            33            10              5
Calavo Growers Inc Santa Paula          (19)            17            (2)            25
Axonics Modulation Technologies Irvine          (20)          (19)          (15)          (13)
Alteryx Irvine          (23)          (11)          (32)            (5)
Macerich Santa Monica          (28)            15              8              9
Xencor Monrovia          (35)          (16)            (8)            81
Arcutis Biotherapies Westlake Village          (35)            (8)          (28)            (7)
Korn/Ferry Intl Los Angeles          (40)            58              4            66
Cornerstone OnDemand Santa Monica          (41)            (8)          (14)            (3)
Kennedy-Wilson Holdings Beverly Hills          (42)          162            (0)              6
Skechers USA Manhattan Beach          (60)          113            49          163
Cheesecake Factory Calabasas Hills          (86)            38            (7)            29
Mattel El Segundo          (96)          (96)        (199)        (174)
Sunstone Hotel Investors Irvine        (118)            49        (156)            15
Envista Holdings Brea        (122)            77          (28)            45
Pacific Premier Bancorp Inc Irvine        (139)            32            32            54
Edwards Lifesciences Irvine        (168)          271          365          278
Snap Inc Santa Monica        (327)        (254)        (305)        (310)
Live Nation Entertainment Beverly Hills        (640)          145        (214)          (51)
Colony Capital Los Angeles     (2,705)        (482)        (396)          (55)
Walt Disney Co Burbank     (4,840)       2,009       1,060       7,237
Total all 83 Los Angeles Area Companies     (1,044)     10,070       3,983     14,258
… % Change From Prior Year Quarter -110% -72%