Trinity Industries Inc. (NYSE:TRN) Q1 2018 Earnings Conference Call - Preliminary Transcript

Apr 26, 2018 • 11:00 am ET


Trinity Industries Inc. (NYSE:TRN) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Before we get started, let me remind you that today's conference call contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 and includes statements as to estimates, expectations, intentions and predictions of future financial performance. Statements that are not historical facts are forward-looking. Participants are directed to Trinity's Form 10-K and other SEC filings for a description of certain of the business issues and risks. A change in any of which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements.

Good day, everyone, and welcome to the Trinity Industries' First Quarter Results Conference Call. Currently, all phone lines are in a listen-only mode. Later, there'll be an opportunity to ask questions during a question-and-answer session. Please be advised today's program may be recorded.

It is now my pleasure to turn the program over to Ms. Gail Peck. You may begin.

Gail M. Peck

Thank you, Aaron. Good morning, everyone. Welcome to Trinity Industries' first quarter 2018 results conference call. I'm Gail Peck, Vice President, Finance and Treasurer of Trinity. Thank you for joining us this morning.

Today, we will follow the format we used on our last earnings call, which included a brief update on the progress we're making on our planned spin-off transaction. On this morning's call, you will hear more detail regarding the anticipated business alignment for the two standalone public companies. Following the call, slides covering today's business alignment discussion will be filed in an 8-K as well as posted on our website under the Trinity's Spin-Off tab and the Events & Presentations tab of the Investor Relations section.

We are pleased to announce that Antonio Carrillo, the future President and Chief Executive Officer of the new infrastructure company, officially joined Trinity this week as Senior Vice President and Group President over the Construction, Energy, Marine and Components Group. And he is in the room with us today. Antonio will serve in this role throughout the period, in which Trinity continues to pursue the spin-off.

Scott Beasley, the future Chief Financial Officer of the new company, will provide today's commentary for the Construction Products, Energy Equipment and Inland Barge Group. Scott joined Trinity in 2014 and is currently serving as CFO for these business groups and previously held the role of Vice President of Corporate Strategic Planning for Trinity.

Today's speakers also include Theis Rice, our Senior Vice President and Chief Legal Officer; Tim Wallace, our Chairman, Chief Executive Officer and President; Melendy Lovett, our Senior Vice President and Chief Administrative Officer; Eric Marchetto, our Executive Vice President and Chief Commercial Officer for TrinityRail; and James Perry, our Senior Vice President and Chief Financial Officer.

Following prepared remarks, we will 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 the Theis Rice.

S. Theis Rice

Thank you, Gail, and good morning. In our last call, I reported on the status