Question-and-Answer Session
[Operator Instructions]. Our first question comes from Bob Napoli from Piper Jaffray.
Robert P. Napoli - Piper Jaffray
Thank you. Good morning. Congratulations on great quarter. You guys aren't supposed to this in a recession.
Brian A. Kenney - Chairman, President and Chief Executive Officer
Thanks, Bob.
Robert P. Napoli - Piper Jaffray
I just wondered, if you maybe could give some feel for what percentage of your business would be tied to US exports and our exports? the spike up in exports, is that helping your business more than in the past?
Brian A. Kenney - Chairman, President and Chief Executive Officer
I don't have an exact percentage for you, Bob, but to the extent the continued export environment and obviously the weak dollars helping that. But to the extent, there’s products moving by freight cars that certainly plays to our advantage, about a third of our fleet is freight cars, as you know. We don't participate substantially in the intermodal sector, so that really doesn't... as the numbers move around on the intermodal front, it doesn't really play into our results too much, but net-net obviously it's positive.
Brian A. Kenney - Chairman, President and Chief Executive Officer
Yes, I would say less than other participants in the industry, I mean we do have grain cars, but of much lower percentage than most. So, I don't think there is a whole lot compared to others tied to specifically that quarter.
Robert P. Napoli - Piper Jaffray
Okay. The competitive environment and we hear that Trinity is very aggressive on pricing and I just wonder if you can give some update on what is going on in that regard?
Brian A. Kenney - Chairman, President and Chief Executive Officer
Well, it is a very comparative market, not only there are a lot of idle cars in the industry since that are being cement, coal, grain, plastic pellets, but there is also a lot of new cars delivering this year. So, even on renewals we're finding ourselves competing against some of these new cars delivering. There is a lot of ethanol cars delivering this year. So, it's an unsettled market and it is very competitive and people are being very aggressive, especially to try to place new cars, because as you know nothing is worse than a brand-new car going into storage. We have avoided that situation so far and even for example on ethanol where we have probably more cars that we wanted delivering this year, they are essentially all place now. So, generally we've made very good progress against that, but it is an unsettled, very competitive market and there is more and more new cars delivering every quarter.
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