The Andersons, Inc.

Good morning, ladies and gentlemen, and welcome to the Anderson's 2026 First Quarter Earnings Conference Call. My name is Joe, and I will be your coordinator for today. At this time, all participants are in a listen-only mode. Later, we will facilitate a question and answer session. To ask a question at that time, please press star, then 1 on your telephone keypad. And to remove a question for any reason, please press star, then 2. As a reminder, this conference is being recorded for replay purposes. I will now hand the presentation to your host for today, Mr. Mike Holter, Vice President, Corporate Controller and Investor Relations. Please proceed.

Good morning, everyone, and thank you for joining us for the Anderson's First Quarter Earnings Call. We have provided a slide presentation that will enhance today's discussion. If you are viewing this presentation via the 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 shortly. Please direct your attention to the disclosure statement on slide two, 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 the GAAP to non-GAAP measures are included within the appendix of this presentation. On the call with me today are Bill Krueger, 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 Bill.

Thanks, Mike, and good morning, everyone. Thank you for joining the call to discuss our first quarter 2026 results and outlook. I'm pleased to report that we delivered our strongest first quarter ever, achieving record net income and earnings per share. These results reflect the strength of our diversified portfolio, improved market conditions, and above all, the dedication of our teams who continue to execute in an increasingly dynamic environment. From an industry standpoint, The quarter included a significant positive development with the finalization of the largest ever renewable volume obligations for 2026 and 2027. The RVO will support domestic demand for U.S. corn and soybeans, along with providing greater regulatory clarity for our agribusiness and renewables platforms. In agribusiness, fertilizer margins improved year over year due to strong product positioning amid supply disruptions. Increased volatility and better premium ingredients results drove merchandising performance. Our grain asset inventory basis appreciation was delayed this quarter, and we anticipate positive changes in the next quarter. We continue to pursue organic growth through strategic investments to enhance customer service and respond to changes in demand trends. Construction at our Port of Houston facility is progressing with full operations expected in the third quarter. Our Carlsbad mineral plant is now operational and the upgrades to increase cleaned corn capacity at our Mansfield Illinois facility are underway. In renewables We are making strategic investments in our large, high-efficiency ethanol plants, including preparations for the previously announced debottlenecking project in Climbers, Indiana, which is expected to be completed by late 2027. We continue to assess further opportunities to expand production and lower the carbon intensity of ethanol at all of our plants. Production volumes within renewables have consistently surpassed those of previous periods, driven by efficient operations and robust demand. Although market fundamentals remained favorable in the quarter, increased corn basis and natural gas prices reduced our improved margins. Despite ongoing global uncertainty, We believe the trough of the grain cycle occurred in 2025 and underlying conditions continue to improve. With that overview, I will turn the call over to Brian to discuss our financial results.