General Cable 2Q13 Earnings Call Notes

posted in: Notes | 0

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.

“Our overall business feels a bit more sluggish than previously anticipated. In addition, metal prices are falling materially over the last couple of months, perhaps causing some customers, particularly distributors, to work that inventory.”

“This anticipated increase principally reflects improvements in aerial transmission and specialty product shipments in Brazil, a growing construction products business in North America and increased project activity in Thailand.”

“I would say, generally, the residential world is just waking up and it impacts, as you know, our utility business as well. So we’re seeing some of that occurring, some better demand in Florida and Arizona. But I would say, generally, we haven’t really felt the full impact of housing starts, single family, beginning to return to the kind of equilibrium level that we’ve seen over the last 15 or 20 years. The non-resi, as you know, has been lackluster with some puts and takes, with mining a bit down and government down and then some up in some other sectors”

“as we look forward to the second half, I would say utility spending is okay, but a bit weaker than we thought. We are seeing the wind orders come back and we are likely to have a one of the best years in transmission”

“Latin America is okay, it’s going to be stronger in the second half than the first half. And Asia Pacific is still paced primarily by our performance in China, Thailand and the Philippines.”

“I will say the non-resi feels sloppy, OEM production feels sloppy. The residential is beginning to have some impact, but it’s — you’ve got to create the house, wire it, et cetera, you see people building out existing developments that were sort of stopped.”