Wednesday, July 29, 2020

Nevada Companies Performed Substantially Better on the Audited Pretax Earnings Growth Front During Obama/Biden's Eight Years in Office (Up an Off-the-Charts 157% Per Year) Than They Did During Trump/Pence's First Three Years in Office (Up 26% Per Year). If MGM Resorts Real Estate Maneuvering Transaction Gain of $2.7 Bil in 2019 is Excluded, the Average Annual Earnings Increase in 2017-2019 Drops From 26% to a Much Lower 6.7% Per Year.

From a review of SEC filings and Google Finance, there were 19 Nevada Companies with stock market caps of above $100 mil recently and which reported Pretax Income (Loss) From Continuing Operations in their annual financial statement earnings information filed with the SEC for each of the most recent twelve years (Fiscal Years from 2008-2019).   Caesars Entertainment was excluded because it had a bankruptcy and corporate restructuring and thus its earnings numbers are not very meaningful. 

The table below shows the Pretax Income (Loss) From Continuing Operations for each of these 19 Nevada Companies for fiscal year end 2019, the last year of the Donald Trump/Mike Pence's first three full years in office so far,  for fiscal year end 2016, the year before the start of the Donald Trump/Mike Pence Administration as well as also the last year of the Barack Obama/Joe Biden Administration, and for fiscal year end 2008, the year before the start of the Barack Obama/Joe Biden Administration.


Annual Audited Audited Audited
Audited Pretax Pretax Pretax
    Fincl Income Income Income
  Nevada Sts (Loss) (Loss) (Loss)
Nevada Companies City State FYE FYE FYE FYE
Stock Market Caps Above $100 Mil HQs HQs 2019 2019 2016 2008
   $ mils  $ mils  $ mils
Hotels, Resorts & Casinos
Las Vegas Sands Las Vegas NV Dec 19             3,772             2,255              (228)
Wynn Resorts Ltd Las Vegas NV Dec 19                488                311                149
MGM Resorts Intl Las Vegas NV Dec 19             2,847             1,259              (669)
Boyd Gaming Las Vegas NV Dec 19                202                    8              (250)
Monarch Casino Reno NV Dec 19                  40                  38                  15
Full House Resorts Las Vegas NV Dec 19                  (6)                  (4)                    3
Golden Entertainment Las Vegas NV Dec 19                (41)                  12                (69)
Total all 7 Hotels, Resorts & Casino Cos             7,302             3,879           (1,049)
   
Other Nevada Cos
Amerco Reno NV Mar 20                378                628                  23
Southwest Gas Holdings Las Vegas NV Dec 19                273                232                102
Ormat Technologies Reno NV Dec 19                137                141                  45
Allegiant Travel Las Vegas NV Dec 19                301                346                  55
Scientific Games Las Vegas NV Dec 19              (108)              (479)                  17
Employers Holdings Reno NV Dec 19                194                141                112
Everi Holdings Las Vegas NV Dec 19                  16              (218)                  51
Spectrum Pharmaceuticals Henderson NV Dec 19              (145)                (71)                (19)
VimetX Holdings Zephyr Cove NV Dec 19                (20)                (28)                (12)
PDL Biopharma Incline Village NV Dec 19                (74)                109                243
PICO Holdings Carson City NV Dec 19                  12                (18)                  56
Remark Holdings Las Vegas NV Dec 19                (23)                (31)                (24)
Total all 12 Other Nevada Cos                941                752                649
Total all 19 Nevada Cos             8,243             4,631              (400)
….. % Increase 3 Years 2017-2019 78%
….. Average Annual % Increase 2017-2019 26%  Per Year 
….. % Increase 8 Years 2009-2016 1258%
….. Average Annual % Increase 8 Years 2009-2016 157%  Per Year 



Iowa Companies Performed Substantially Better on the Audited Pretax Earnings Growth Front During Obama/Biden's Eight Years in Office (Up an Incredible 381% Per Year) Than They Did During Trump/Pence's First Three Years in Office (Up 8.7% Per Year)

From a review of SEC filings and Google Finance, there were 17 Iowa Companies with stock market caps of above $100 mil sometime during 2020 and which reported Pretax Income (Loss) From Continuing Operations in their annual financial statement earnings information filed with the SEC for each of the most recent twelve years (Fiscal Years from 2008-2019).  

The table below shows the Pretax Income (Loss) From Continuing Operations for each of these 17 Iowa Companies for fiscal year end 2019, the last year of the Donald Trump/Mike Pence's first three full years in office so far,  for fiscal year end 2016, the year before the start of the Donald Trump/Mike Pence Administration as well as also the last year of the Barack Obama/Joe Biden Administration, and for fiscal year end 2008, the year before the start of the Barack Obama/Joe Biden Administration.


Annual Audited Audited Audited
Audited Pretax Pretax Pretax
Fincl Income Income Income
Sts (Loss) (Loss) (Loss)
Iowa Companies City State FYE FYE FYE FYE
Stock Market Caps Above $100 Mil HQs HQs 2019 2019 2016 2008
 $ mils  $ mils  $ mils
Principal Financial Group Des Moines IA Dec 19             1,693             1,592                454
Renewable Energy Group Ames IA Dec 19                389                  49                (24)
Casey's General Stores Ankeny IA Apr 20                342                270                139
American Equity Investment Life West Des Moines IA Dec 19                316                130                  85
Heartland Financial  USA Dubuque IA Dec 19                184                117                  15
HNI Corp Muscatine IA Dec 19                143                129                  69
FBL Financial Group West Des Moines IA Dec 19                143                142                (32)
Meredith Des Moines IA Jun 19                141                110                220
Winnebago Industries Forest City IA Aug 19                139                  66                  (5)
Heartland Express North Liberty IA Dec 19                  97                  86                107
Hills Nancorporation Hills IA Dec 19                  58                  46                  20
MidWestOne Financial Group Iowa City IA Dec 19                  50                  27                (25)
West Bancorporation West Des Moines IA Dec 19                  36                  33                    9
Lee Enterprises Davenport IA Sep 19                  24                  58           (1,114)
Ames National Corp Ames IA Dec 19                  21                  23                    7
United Fire Group Cedar Rapids IA Dec 19                  17                  59                (33)
Flexsteel Industries Dubuque IA Jun 19                (43)                  38                    7
Total all 17 Iowa Companies             3,750             2,975              (101)
….. % Increase 3 Years 2017-2019 26%
….. Average Annual % Increase 2017-2019 8.7%  Per Year 
….. % Increase 8 Years 2009-2016 3046%
….. Average Annual % Increase 8 Years 2009-2016 381%  Per Year