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Gail PeckThank you, [Tara]. Good morning, everyone. Welcome to the Trinity Industries First 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, Steve Menzies, Senior Vice President and Group President of the Rail and Railcar Leasing Groups; Antonio Carrillo, Senior Vice President and Group President of the Energy Equipment Group; and Bill McWhirter, Senior Vice President and Group President of the Construction Products and Inland Barge 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. We’re off to a good start in 2012. The momentum in our railcar and barge business has generated operating leverage that enhanced our financial performance during the first quarter. From an overall company perspective, I’m pleased with the way our businesses are leveraging off our multi-industry manufacturing platform to pursue growth opportunities in response to market demand. Our railcar, barge and containers businesses continue to benefit from the shale, oil and gas exploration, and production activities that are well-positioned to capitalize as opportunities surface in the future. Demand for railcars in North America remain consistent during the first quarter. Steve will provide additional information on the railcar market during his comments. Our railcar leasing business continues to perform well by obtaining higher lease rates and securing longer term leases. This trend continues to build a solid base of leasing revenues and profit.
Our inland barge business obtain a good mix of orders in the first quarter that extended production into 2013. Demand was driven by several factors including the need to transport oil associated with shale, exploration and production.Our energy equipment group reported a loss during the first quarter. The results were due to lingering issues associated with challenges in our wind tower manufacturing business. The wind energy as a whole is continuing to work through a number fundamental issue that are affecting demand for wind towers. We continue to dedicate management time and company resources to enhancing our manufacturing platform for wind towers, so that it can respond effectively to changes in customer demand. While the financial performance reflects a lack of improvement thus far, I believe we are making important strides to improve in this area. Antonio will provide more additional information during his remarks. Our construction products businesses are building momentum as they enter the early part of the construction season. Our highway products business is continue to experience consistency in demand for products due to the lack of long-term that will Highway funding. We expect levels of uncertainty associated with Highway funding will persist until our political leaders passed a multiyear transportation bill. Overall our first quarter performance reflects the strength of our multi-industry platform, the benefits provided by our market leadership positions and our commitment to operational excellence in that talents and hard work of our people. The trend lines in most of our businesses indicate another solid year of growth for the company. I will now turn it over to Steve Menzies for his comments. Steve Menzies Thank you, Tim. Good morning. First quarter operating results for the Rail Group and Leasing Group reflect improved operating leverage amidst steady railcar demand. Our Rail Group posted an operating profit of $40.1 million during the first quarter of 2012, a 16% increase compared to the fourth quarter of 2011 and 332 -- 330% increase compared to the first quarter of 2011. The dollar value of our railcar order backlog remain virtually unchanged at the end of the first quarter, despite a slight decline in total units. Read the rest of this transcript for free on seekingalpha.com