American Commercial Lines Inc. - Conference Presentation Calls

American Commercial Lines Inc. provided CapEx guidance for the full year of 2009. For the year, the company expects full year CapEx spending to be approximately $40 million, including $5 million to complete some liquid barges this year that were begun in late 2008, and $6 million to start construction related to the company recent announcement to build 50 dry hopper barges. Also, $2.6 million of the fourth quarter CapEx spend will be reimbursed to the company in 2010 under government grants were rewarded.

American Commercial Lines Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. Revenues for the quarter were $216.0 million, a 31.1% decrease compared with $313.7 million for the quarter ended September 30, 2008. The decrease in revenue was primarily due to changes in the mix of commodities shipped by its customers in the respective quarters into lower revenue commodities and to lower volume in the current year. The impact of lower fuel prices which contractually is passed through to its customers in the current year quarter also contributed to the decline in revenue and was partially offset by the increase in manufacturing segment's revenues in the quarter. For the quarter ended September 30, 2009, the company's net loss was $12.2 million or $0.96 per diluted share, compared to net income of $18.3 million or $1.44 per diluted share for the comparable quarter of 2008. Earnings before interest, taxes, depreciation and amortization for the third quarter of 2009 was $22.4 million, with an EBITDA margin of 10.4%, compared to $49.6 million for the third quarter of 2008 with an EBITDA margin of 15.8%. Operating income for the period was $8.7 million against $36.6 million for same period a year ago. Loss from continuing operations before taxes for the period was $19.2 million against income from continuing operations before taxes for the period was $29.5 million for same period a year ago. Loss from continuing operations for the period was $12.2 million or $0.96 per share against income from continuing operations for the period was $18.4 million or $1.44 per share for same period a year ago. During the quarter, the company reported capital expenditure of $6.8 million against $30.9 million for same period a year ago. Revenues for the nine months ended September 30, 2009 were $637.5 million, a 29.7% decrease compared with $906.9 million for the same period during 2008. For the nine months ended September 30, 2009, the company's net loss was $21.4 million, or $1.68 per diluted share, compared to net income of $24.3 million or $1.91 per diluted share for the same period of 2008. EBITDA for the nine months ended September 30, 2009 was $55.7 million, with an EBITDA margin of 8.7%, compared to $100.3 million for the same period of 2008 with an EBITDA margin of 11.1%. In the nine months ended September 30, 2009, the company generated $83.8 million of cash flow from operations, compared to $75.4 million in the prior year. The increase, on lower net income, was primarily due to working capital changes, mainly lower accounts receivable. Operating income for the period was $14.3 million against $59.6 million for same period a year ago. Loss from continuing operations before income taxes for the period was $33.4 million against income from continuing operations before income taxes was $38.6 million for same period a year ago. Loss from continuing operations for the period was $21.2 million or $1.67 per share against income from continuing operations for the period was $24.0 million or $1.89 per share for same period a year ago. During the first nine months of 2009 the company had $20.1 million of capital expenditures primarily related to costs of new tank barges begun in the fourth quarter of 2008, boat and barge maintenance, improvements to the shipyard and software.