In an earnings call transcript published today for Encore Wire Corp., McKinney, Texas, at www.seekingalpha.com, Daniel Jones, Encore Wire's president and CEO, said the company had strong quarterly earnings in a turbulent economy despite the “severe recession currently taking place in the construction industry.”
While Jones also said in the call that business conditions were mixed in different regions across the United States, overall he had a positive outlook. He said business conditions in the Pacific Northwest were good, that “West Coast California, Southern Cal, Northern Cal are okay,” and that the Carolinas, Georgia and Florida are “pretty good.” “The Northeast is good, and in Texas I don't know that we saw as big a dip as anyone else in construction activity, but we seem to be a little insulated from the bottoms,” he added. “Texas, Oklahoma, New Mexico are still going along pretty well.
“But just in general the feel is, we are a lot busier. Activity level in the sales office is up, but that's a combination of we are requiring a little bit more information in trying to get a little bit quicker in the process. But overall there are some pretty nice projects out there; it just takes a little harder work to win those.”