The Andersons, Inc.

Good morning, and welcome to the Anderson's fourth quarter 2022 earnings conference call. All participants will be in a listen-only mode today. And should you need any assistance during the call, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw a question, please press star, then two. Please note that this event is being recorded today. I would now like to turn the conference over to Mike Holter, Vice President, Corporate Controller, and Investor Relations. Please go ahead, sir.

Thanks, Joe. Good morning, everyone, and thank you for joining us for the Anderson's Fourth Quarter Earnings Call. We have provided a slide presentation that will enhance today's discussion. If you are viewing this presentation on our webcast, the slides and commentary will be in sync. This webcast is being recorded and the recording and the supporting slides will be made available on the investor's page of our website at andersonsinc.com shortly. Please direct your attention to the disclosure statement on slide two of the presentation, as well as the disclaimers in the press release related to forward-looking statements. Certain information discussed today constitutes forward-looking statements that reflect the company's current views with respect to future events, financial performance, and industry conditions. These forward-looking statements are subject to various risks and uncertainties. Actual results could differ materially as a result of many factors which are described in the company's reports on file with the SEC. We encourage you to review these factors. This presentation and today's prepared remarks contain non-GAAP financial measures. Reconciliations of non-GAAP measures to the most directly comparable GAAP financial measure are included within the appendix of this presentation. On the call with me today are Pat Bowe, President and Chief Executive Officer, and Brian Valentine, Executive Vice President and Chief Financial Officer. After our prepared remarks, we will be happy to take your questions. I will now turn the call over to Pat.

Thanks, Mike, and good morning, everyone. Thank you for your interest in the Andersons and for joining this call. We're excited to review our overall operating results for the fourth quarter. which capped a record year for us. As we noted in yesterday's earnings release, strong ag fundamentals existed in 2022, and our team's performance has once again been exceptional. We ended with full-year record earnings and adjusted EBITDA from continuing operations of $412 million. As you know, we previously set aggressive targets for EBITDA growth, and I'm pleased to say that we exceeded our 2025 goal of $375 to $400 million of EBITDA three years early. Later in this call, I'll discuss updated targets for 2025. The trade business posted a record fourth quarter, which also capped a record year for the segment. Our fourth quarter results were led by improved performance across our asset footprint with rising basis values and storage income. Merchandising results were also very strong and benefited from our attention to customer needs and ability to source grain for regions and countries with grain deficits. Our renewables business again generated solid profits but was not able to match last year's record quarter as industry crush margins weakened. Our low-carbon feedstock business continues to grow and make positive contributions to our renewables segment. Plant Nutrient experienced mixed results with buyers on the sidelines as market prices have declined for major ag fertilizers. We did have good engagement on our fall application and specialty liquids business. Manufactured product lines were also impacted by reduced consumer demand. I'm thrilled with a second consecutive year of very strong results. I'm very proud of our Andy team and their performance in optimizing results in an environment of strong ag fundamentals. I'm now going to turn things over to Brian to cover some key financial results. When he's finished, I'll be back to discuss our early outlook for 2023. Brian?