Earnings Call Excerpt
Cummins Inc. (CMI)
Q3 2009 Earnings Call
October 30, 2009 10:00 am ET
Executives
Dean Cantrell – Director of Investor Relations
Tim Solso – Chairman and Chief Executive Officer
Tom Linebarger – President and Chief Operating Officer
Pat Ward – Chief Financial Officer
Analysts
Meredith Taylor - Barclays Capital
[David Russell] – I.S.I. Group
Jerry Revich - Goldman Sachs
Henry Kirn - UBS
Eli Lustgarten - Longbow Research
Andrew Casey - Wells Fargo Securities LLC
Chase Becker for Jamie Baker - Credit Suisse
Joel Tiss - Buckingham Research Group
Presentation
Operator
Good day ladies and gentlemen, and welcome to the third quarter 2009 Cummins Incorporated earnings conference call. My name is [Jasmine] and I’ll be your operator for today. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes.
I would now like to turn the conference over to your host for today’s call, Mr. Dean Cantrell, Director of Investor Relations. You may proceed.
Dean Cantrell
Thank you Jasmine. Welcome everyone to our teleconference today to discuss Cummins’ results for the third quarter of 2009. Participating with me today are Chairman and Chief Executive Officer, Tim Solso; our President and Chief Operating Officer, Tom Linebarger; and our Chief Financial Officer, Pat Ward. We will all be available for your questions at the end of the teleconference.
This teleconference will include certain forward-looking information. Any forward-looking statement involves risk and uncertainty. The company’s future results may be affected by changes in general economic conditions and by the actions of customers and competitors. Actual outcomes may differ materially from what is expressed in any forward-looking statement. A more complete disclosure about forward-looking statements begins on Page 3 of our 2008 Form 10-K and it applies to this teleconference.
During the course of this call we will be discussing certain non-GAAP financial measures and we refer you to our website for the reconciliation of those measures to GAAP financial measures. Our press release, with a copy of the financial statements and a copy of today’s webcast presentation, is available on our website at www.cummins.com under the heading of Investors and Media.
With those formalities out of the way I’d like Tom to open with a few remarks.
Tom Linebarger
Good morning. I would like to start today by sharing some thoughts about our performance during the third quarter and then spend a few moments talking about our expectations for the first half of 2010.
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