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Precision Castparts Corp  (PCP)
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Precision Castparts's

Competitiveness


 

PCP Sales vs. its Competitors Q3 2015



Comparing the results to its competitors, Precision Castparts reported Total Revenue decrease in the 3 quarter 2015 year on year by -9.32 %, faster than overall decrease of Precision Castparts's competitors by -65.02 %, recorded in the same quarter.

List of PCP Competitors

With net margin of 15.04 % company achieved higher profitability than its competitors.

More on PCP Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Precision Castparts Corp Net Income in 3 quarter 2015 declined year on year by -26.5 %, slower than the average decrease reported by company's competitors of -65.82 %.

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Precision Castparts's Comment on Competitors and Industry Peers


We are subject to substantial competition in all of the markets we serve. Components and products similar to those we make can be produced by competitors using either the same types of manufacturing processes or other forms of manufacturing. Although we believe our manufacturing processes, technology and experience provide advantages to our customers, such as high quality, competitive prices and physical properties that often meet more stringent demands, alternative forms of manufacturing can be used to produce many of the components and products we make. Despite intense competition, we believe we are the number one or two supplier in most of our principal markets. Several factors, including long-standing customer relationships, technical expertise, state-of-the-art facilities and dedicated employees, aid us in maintaining our competitive advantages.
In the Investment Cast Products segment, our principal competitor is Howmet, a subsidiary of Alcoa Inc. Howmet produces super-alloy, titanium, stainless steel and aluminum investment castings principally for the aerospace and IGT markets. We believe that Howmet is capable of producing investment castings comparable to all but the largest and most complex of our structural investment castings. We also believe Howmet has the financial and technical resources to produce structural castings as large and complex as those produced by us, should they decide to do so. In addition, Pacific Cast Technologies, a subsidiary of Allegheny Technologies, Inc. ("ATI"), manufactures large titanium investment castings for jet engine and airframe applications. Many other companies throughout the world also produce super-alloy, titanium, stainless steel and aluminum investment castings, and some of these companies currently compete with us in the aerospace and other markets. Others are capable of competing with us if they choose to do so.

In the Forged Products segment, our largest competitors are Ladish Co., a subsidiary of ATI, Fortech, S.A. and Thyssen AG for aerospace turbine products, Alcoa Inc. and Firth Rixson Limited for aerospace structural products, Vallourec & Mannesmann Tubes and Sumitomo Corporation for energy products and ATI, Carpenter Technology Corporation, and Firth Rixson Limited for nickel-based alloys and super-alloys. We also face increased competition from international companies as customers seek lower cost sources of supply.
Our principle competitors in the aerospace titanium market are ATI and RTI International Metals, Inc. ("RTI"), both based in the U.S., and Verkhnaya Salda Metallurgical Production Organization ("VSMPO"), based in Russia. UNITI (a joint venture between ATI and VSMPO), RTI and certain Japanese producers are our principal competitors in the industrial and emerging markets.

International competition in the forging and casting processes may also increase in the future as a result of strategic alliances among aircraft prime contractors and overseas companies, particularly where “offset” or “local content” requirements create purchase obligations with respect to products manufactured in or directed to a particular country. Competition is often intense among the companies currently involved in the industry. We continue to strive to maintain competitive advantages with high-quality products, low-cost manufacturing, excellent customer service and expertise in engineering and production.

Our Airframe Products operations compete with a large number of companies based primarily on technology, price, service, product quality, product performance and delivery performance. Of these companies, we consider Alcoa Inc., LISI, LMI, Triumph Group, Inc., TransDigm Group, Inc., and the internal machining operations of certain of our OEM customers to be our leading competitors. We believe that we maintain our strong market position through our high-quality product performance, service to our customers and competitive synergies with other PCC business units.





  

Overall company Market Share Q3 2015

despite revenue deterioration, Precision Castparts inceased its market share in this segment.

company inceased its market share in this segment to approximate 61.22 %.



<<  More on PCP Market Share.
 

*Market share calculated with total revenue.


PCP's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Precision Castparts Corp 9,525 0 1,713 30,100
Alcoa Corp 10,460 7,611 566 61,000
Arconic Corporation 5,739 4,063 -117 0
Solitario Zinc Corp 0 34 -1 5
Allegheny Technologies Incorporated 2,719 2,703 -1,586 9,700
Carpenter Technology Corporation 1,155 1,843 -291 4,500
Haynes International inc 322 478 -17 1,123
Universal Stainless and Alloy Products inc 144 100 -21 645
Nn Inc 510 292 165 4,730
SUBTOTAL 30,574 17,124 411 111,803


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