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Textainer Group Holdings Limited ( TGH ) Analyst Day Call May 13, 2013 10:00 AM ET
Good morning everybody. Thank you very much for attending our 2013 analyst day presentation here at the New York Stock Exchange. danper I think everybody knows that we rang the bell this morning and it was kind of a interesting event it is the second time that we rung the bell at the New York Stock Exchange, actually the second time that we have paid a visit here. I am sorry, I am getting a little ahead of myself I did want to say a few things. But, first I do want to thank you very much for taking the time to come, to be with us here today, especially after Mother s Day. I do think a lot of people probably had to travel on Mother s Day. So thank you for taking the time and the effort to be here.
What I did want to say is we have made two visits to the New York Stock Exchange. We were listed, went this in public on October danper 15, 2007. Now that day probably does not mean a whole like or lot to anyone here but it happens to be the day that the New York Stock Exchange hit what was on that day an all-time high 14,164 I think. This is after our first visit, on the next day Stock Exchange went down and continued to decline for two years. So you know (what happened on Friday) the New York Stock Exchange hit a new record and this is the second time we are here at the New York Stock Exchange. So if anybody wants to be excused right now to go call your broker, I fully understand, it is our industries danper like the way I hope that history does not repeat itself this time.
So with that as an opening, let me just give you a few things. We like to hold the questions until the end. We are going to try to make the presentation relatively brief, so that we have a lot time for questions and answers.
I know that all three listed containers leasing companies have just recently had their earnings calls. So you have probably heard a bit about the current state of the industry already. We will give you a bit of an overview during this presentation and a bit of an overview of Textainer. I suspect to all of you have been told this information before we will try and make it either repressed or rapid and then leave time for questions and answers.
Alright and while I do think many of you already know Textainer, we are more than 30 years old. We are the world s largest container leasing company, we have a fleet of 2.8 million TEU. Now we say 2.8 TEU but really what does that mean I do not even think we have put that number on our head, (Torenzo) if I ask you how many miles, I did then you do not think in miles because you think in kilometers anyway but how many miles do you think that might be if we wind them all up? (inaudible) No that s quite far,. I was hoping you would be short so I could say no, It is a lot for that. Actually you can take our containers and start it in New York and you could go all the way to Sydney and you would still have a 1,000 miles of containers leftover. We have over 10,000 miles of containers, so it is a lot of containers. We are one of the leading traders of used containers in the world we sell up to 100,000 danper containers a year. We have been profitable for 27 consecutive years. We have paid stable or increasing dividends for 24 years but we have also done the same since we have been public. And none of the other public leasing companies can say the same thing. Our dividend has more than doubled over the period of time that we have been a public company from $0.20 to $0.46 a share. And we have never cut our dividend over that time.
I mentioned that we were listed in 2007 and I just want to give you a few data points to sort of compare Textainer then and Textainer today. In 2007, our fleet was 2 million TEU and today it is 2.8 million TEU. In 2007, we owned 27% of our container fleet and today we own 73%. So what that means is our own fleet today just our own fleet is the same size as our entire fleet at the time that we listed New York Stock Exchange. Our total assets were $1.1 billion, today they are $3.5 billion. And our net income in 2007 was $68 million last year it was $207 million, so just to put it in perspective of the growth of the company over the time that we have been a public company.
Why is Textainer an attractive investment? Why is it an attractive danper company? We are the industry leader. We are the largest company in the industry. We have an 18% market share. We've averaged i
Home | Portfolio | Market Currents | Investing Ideas | Dividends & Income | ETFs | Macro View | Home | My Portfolio | Breaking News | Latest Analysis | Alpha-Rich Ideas | StockTalk | ALERTS | PRO
Seeking Alpha's transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to... More
Textainer Group Holdings Limited ( TGH ) Analyst Day Call May 13, 2013 10:00 AM ET
Good morning everybody. Thank you very much for attending our 2013 analyst day presentation here at the New York Stock Exchange. danper I think everybody knows that we rang the bell this morning and it was kind of a interesting event it is the second time that we rung the bell at the New York Stock Exchange, actually the second time that we have paid a visit here. I am sorry, I am getting a little ahead of myself I did want to say a few things. But, first I do want to thank you very much for taking the time to come, to be with us here today, especially after Mother s Day. I do think a lot of people probably had to travel on Mother s Day. So thank you for taking the time and the effort to be here.
What I did want to say is we have made two visits to the New York Stock Exchange. We were listed, went this in public on October danper 15, 2007. Now that day probably does not mean a whole like or lot to anyone here but it happens to be the day that the New York Stock Exchange hit what was on that day an all-time high 14,164 I think. This is after our first visit, on the next day Stock Exchange went down and continued to decline for two years. So you know (what happened on Friday) the New York Stock Exchange hit a new record and this is the second time we are here at the New York Stock Exchange. So if anybody wants to be excused right now to go call your broker, I fully understand, it is our industries danper like the way I hope that history does not repeat itself this time.
So with that as an opening, let me just give you a few things. We like to hold the questions until the end. We are going to try to make the presentation relatively brief, so that we have a lot time for questions and answers.
I know that all three listed containers leasing companies have just recently had their earnings calls. So you have probably heard a bit about the current state of the industry already. We will give you a bit of an overview during this presentation and a bit of an overview of Textainer. I suspect to all of you have been told this information before we will try and make it either repressed or rapid and then leave time for questions and answers.
Alright and while I do think many of you already know Textainer, we are more than 30 years old. We are the world s largest container leasing company, we have a fleet of 2.8 million TEU. Now we say 2.8 TEU but really what does that mean I do not even think we have put that number on our head, (Torenzo) if I ask you how many miles, I did then you do not think in miles because you think in kilometers anyway but how many miles do you think that might be if we wind them all up? (inaudible) No that s quite far,. I was hoping you would be short so I could say no, It is a lot for that. Actually you can take our containers and start it in New York and you could go all the way to Sydney and you would still have a 1,000 miles of containers leftover. We have over 10,000 miles of containers, so it is a lot of containers. We are one of the leading traders of used containers in the world we sell up to 100,000 danper containers a year. We have been profitable for 27 consecutive years. We have paid stable or increasing dividends for 24 years but we have also done the same since we have been public. And none of the other public leasing companies can say the same thing. Our dividend has more than doubled over the period of time that we have been a public company from $0.20 to $0.46 a share. And we have never cut our dividend over that time.
I mentioned that we were listed in 2007 and I just want to give you a few data points to sort of compare Textainer then and Textainer today. In 2007, our fleet was 2 million TEU and today it is 2.8 million TEU. In 2007, we owned 27% of our container fleet and today we own 73%. So what that means is our own fleet today just our own fleet is the same size as our entire fleet at the time that we listed New York Stock Exchange. Our total assets were $1.1 billion, today they are $3.5 billion. And our net income in 2007 was $68 million last year it was $207 million, so just to put it in perspective of the growth of the company over the time that we have been a public company.
Why is Textainer an attractive investment? Why is it an attractive danper company? We are the industry leader. We are the largest company in the industry. We have an 18% market share. We've averaged i
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