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Precision Castparts Management Discusses Q1 2013 Results - Earnings Call Transcript

Precision Castparts (PCP)

Q1 2013 Earnings Call

July 26, 2012 10:00 am ET

Executives

Mark Donegan - Chairman, Chief Executive Officer and President

Shawn R. Hagel - Chief Financial Officer, Principal Accounting Officer, Senior Vice President and Assistant Secretary

Analysts

Robert Stallard - RBC Capital Markets, LLC, Research Division

Robert Spingarn - Crédit Suisse AG, Research Division

Jason M. Gursky - Citigroup Inc, Research Division

Richard Tobie Safran - The Buckingham Research Group Incorporated

Seth M. Seifman - JP Morgan Chase & Co, Research Division

Peter J. Arment - Sterne Agee & Leach Inc., Research Division

David E. Strauss - UBS Investment Bank, Research Division

Amit Mehrotra - Deutsche Bank AG, Research Division

Gautam Khanna - Cowen and Company, LLC, Research Division

Noah Poponak - Goldman Sachs Group Inc., Research Division

Stephen E. Levenson - Stifel, Nicolaus & Co., Inc., Research Division

Samuel J. Pearlstein - Wells Fargo Securities, LLC, Research Division

Ronald J. Epstein - BofA Merrill Lynch, Research Division

Presentation

Operator

Good morning, and welcome to the Precision Castparts Webcast and Conference Call to discuss its first quarter for fiscal 2013. This event is being recorded and will be available on PCC's company website at www.precast.com shortly after the conclusion of the presentation and discussion. Following remarks by members of PCC management, the dial-in access lines will be open for your questions. [Operator Instructions] Now I will turn the floor over to Mr. Mark Donegan, Chairman and Chief Executive Officer of Precision Castparts. Please go ahead, sir.

Mark Donegan

Thank you, operator. I'm sure you're all very familiar with the forward-looking statement. You need to take consideration when you're analyzing the following information. If I look at Q1 in total, I think it provided a solid expansion on both the top and bottom line versus last year. But looking at our company performance in total, we saw sales increase by 17.6%, going from roughly $1.68 billion last year to roughly $1.97 billion this year.

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