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TheStreet Open House

Trinity's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Gail Peck

Thank you, Victor. Good morning, everyone. Welcome to Trinity Industries Second Quarter 2012 Results Conference Call. I’m Gail Peck, Vice President and Treasurer of Trinity. Thank you for joining us today.

Following the introduction, you will hear from Tim Wallace, our Chairman, Chief Executive Officer and President. After Tim, our business group leaders will provide overviews of the businesses within their respective groups.

Our speakers are, Bill McWhirter, Senior Vice President and Group President of the Construction Products, Energy Equipment and Inland Barge Groups; and Steve Menzies, Senior Vice President and Group President of the Rail and Railcar Leasing Groups.

Following their comments, James Perry, our Senior Vice President and Chief Financial Officer will provide the financial summary and guidance. We will then move to the Q&A session. Mary Henderson, our Vice President and Chief Accounting Officer, is also in the room with us today.

I will now turn the call over to Tim Wallace for his comments.

Tim Wallace

Thank you, Gail, and good morning, everyone. Our business has performed well during the second quarter. We continue to see a strong demand for products to transport and store crude and other liquids critical to the energy industry. Our railcar and barge manufacturing businesses are aggressively pursuing demand for products that serve these industries.

The backlog for these businesses totaled approximately $3.7 billion at the end of the quarter. The size of our rail and barge backlogs provides our business leaders production visibility deep into 2013.

Our business leaders have been highly effective at working together to reposition a portion of our production capacity to pursue robust market opportunities. During the next three months we will shift more production capacity to serve the oil, gas and chemicals industries. As a result, the number of our businesses within our portfolio will benefit from this transition.

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