This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.
“I think what we’re seeing specific to the United States is their need to get ahead of the curve because of cheap gas and, frankly, the resurging of manufacturing in the United States, which are both really good stories…We feel comfortable with the capacities that we have, both in terms of management and engineering talent, our supply chain capabilities, as well as the craft side. So I think our customers are recognizing the value that they see in our ability to deliver both in terms of cost and schedule. So I look at it as almost a perfect storm for us because we’ve really spent the time to invest in what we needed in order to take advantage of these programs and projects and win as much as we care to.”[on tight labor markets] “I think that what we’re going to see is a circumstance where the traveler will come back. I think over the last decade or maybe 2 decades in the United States, we’ve seen a lack of willingness on the craft part to travel more than one state away. I think we’re going to see a change in that. And we’re already seeing people coming to us from 3 and 4 and 5 states away. They were ready to come to the Gulf Coast and work. ”
“I think most of what we’re looking at have a better-than-average chance of going forward over the next probably 4 quarters, both in terms of the ethylene and petrochemical side, the gas and liquids side and a growing optimism on LNG in Canada and in the Gulf Coast. So I see a pretty good collection of projects that are going to be awarded and announced basically on the schedule that we’re anticipating.”
“Well, I think over the next probably 3 quarters, we’re going to be burning significant revenue in the mining segment. That’s the normal burn-off. And as I mentioned in the prepared remarks, we’re just not filling it up with as much new awards on the same basis.”
“I think this is more of a structural deep breath [in the mining sector], driven by the commodity markets but also driven by the change in leadership. And even when I — I mean, it was seamless when I took over from Alan, but even at that, I took some time to think about where we were headed and the things that we needed to do and what those priorities were. And my expectation is the folks at Rio and the folks at BHP and the like are doing the same thing. So I think that just adds to the deepness of the breath, so to speak. But I don’t, by any means, think that there’s a long-term structural change in the market nor a significant long-term delay in capital spending.”