Saturday, September 26, 2020

The 9 Largest Hawaii Companies Total Pretax Earnings Dropped Precipitously By 74% in the Second Quarter of 2020, After Their Decline of 105% in the First Quarter of 2020. The Trump Administration's Highly-Touted Strong US Economy Clearly Hasn't Hit Hawaii.

From a review of Company SEC filings and the Google Finance website, I found 9 Companies headquartered in Hawaii with stock market caps of above $200 mil in mid-June 2020.  All 9 Hawaii Companies had June 2020 second 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 9 fine Hawaii 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
Hawaii Largest Companies 2020 2019 2020 2019
Stock Market Caps Above $200 Mil City HQs mils $ mils $ mils $ mils $
Hawaiian Electric Industries  Honolulu             60            53            40            58
Bank of Hawaii  Honolulu             49            73            42            72
Matson Inc  Honolulu             45            26              5            14
First Hawaiian  Honolulu             27            97            50            94
Central Pacific Financial  Honolulu             13            18            11            21
Territorial Bancorp  Honolulu               6              6              6              8
Alexander & Baldwin  Honolulu             (4)            (1)              6              8
Maui Land & Pineapple Co  Lahaina           (15)        (245)            (1)            (1)
Hawaiian Holdings  Honolulu         (153)            80        (175)            49
Total all 9 Hawaii Cos            28          107          (16)          323
… % Change From Prior Year Quarter -74% -105%