This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Precision Castparts Management Discusses Q1 2013 Results - Earnings Call Transcript

Stocks in this article: PCP

If I look at sequentially, the same headwinds being the pension -- 2 primary headwinds being the pension and the outage, certainly wanted to put pressure in that. But we did see strong operational improvement from our operations to overcome that headwind, and we were able to drive margins up by 0.7 percentage points.

If I look forward, for the company in total, I think we have very solid positions on the base programs. We're on all the key platforms. Certainly, it's something we worked long and hard at for the last 4 or 5 years, to make sure we are properly represented in the right platforms. And with that, we certainly will expect to get a benefit as we move into the next rate increases on the base platforms, and we'd expect to see acceleration from the 787 as it ramps up through next year.

We've had good penetration on oil and gas. We started delivering. But having said that, there is a significant amount of product that needs to come through the system in the next 3 to 4 quarters. And we continue to see upside on share opportunities in both aerospace and IGT. And I think if we go back and look at kind of the Wyman-Gordon transaction years ago and the SPS transaction, I think we see the same type of opportunity in terms of getting that aerostructures platforms together, create the business and then certainly go and grow market share in those particular areas.

I think even though we did have quite a view -- quite a bit of action on the acquisition front in the course of the last quarter, we are still not an end of opportunities, and I think we'll still expect to see movement on this over the course of the -- again, the next 3 or 4 quarters.

Read the rest of this transcript for free on

4 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs