Powell Industries, Inc. (NASDAQ:POWL) Q1 2018 Earnings Conference Call - Final Transcript

Feb 07, 2018 • 11:00 am ET


Powell Industries, Inc. (NASDAQ:POWL) Q1 2018 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Powell Industries First Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Natalie Hairston, Dennard-Lascar Investor Relations. Thank you. You may begin.

Natalie Hairston

Thank you and good morning, everyone. We appreciate you joining us today for Powell Industries' conference call to review fiscal year 2018 first quarter results. With me on the call are Brett Cope, Powell's Chief Executive Officer and Don Madison, Chief Financial Officer.

Before I turn the call over to management, I have the usual details to cover. If you did not receive an e-mail of the news release issued yesterday and would like one, please call our offices at Dennard-Lascar and we will get one to you; that number is 713-529-6600. Also, if you want to be on the e-mail distribution for Powell releases, please relay that information to us.

There will be a replay of today's call available via webcast by going to the company's website powellind.com or a recorded replay will be available until February 14. The information on how to access the replay was provided in yesterday's earnings release. Please note that information reported on this call speaks only as of today, February 7, 2018 and therefore, you are advised that any time sensitive information may no longer be accurate at the time of replay listening or transcript reading.

This conference call includes certain statements, including statements related to the company's expectations of its future operating results that may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements.

These risks and uncertainties include, but are not limited to, competition and competitive pressures, sensitivity to general economic and industry conditions, international political and economic risks, availability and price of raw materials and execution of business strategies. For more information, please refer to the Company's filings with the Securities and Exchange Commission.

Now I will turn the call over to Brett. Brett?

Brett Cope

Thank you, Natalie and good morning, everyone. Thank you for joining us today to review our fiscal 2018 first quarter results. I will make a few comments and then I will turn the call over to Don for more financial commentary before we take your questions.

I will start by saying that very little has changed over the past 60 days or so since we shared our 2017 results and discussed the challenges facing our operational and financial outlook for 2018. As we have reported over the last few quarters, inquiry activity across a variety of end markets has been and continues to be steady across the company. We continue to see mild strength in the utility distribution and commercial sectors, along