The Andersons, Inc.

Good morning, ladies and gentlemen. Welcome to the Anderson's 2026 Second Quarter Earnings Conference Call. My name is Alison, and I will be your coordinator for today. At this time, all participants are in listen-only mode. Later, we will facilitate a question and answer session. To ask a question, please press star and then 1 on your touch-tone phone. And to withdraw your question, please press star As a reminder, this conference call is being recorded for replay purposes. I will now hand the presentation over to your host for today, Mr. Mike Hoelter, Vice President, Corporate Controller, and Investor Relations. Please proceed.

Good morning, everyone, and thank you for joining us for the Anderson Second 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 Investors page of our website shortly. Please direct your attention to the disclosure statement on slide 2, 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. Good morning, everyone, and thank you for joining our call to discuss our second quarter results and outlook. I'd like to start off by thanking our entire team for their hard work and focus during an unpredictable first half of 2026. We are proud of the results our teams are generating for our shareholders and their commitment to delivering for our customers during a time of rapid change. Our second quarter results were led by record earnings in renewables. Agribusiness had year-over-year improvement as our fertilizer business performed above expectations. adjusted earnings per share of $2.15 and adjusted EBITDA of $140 million for the quarter compares favorably to some of our best historical quarters and reflects our commitment to the strategy we presented at our Investor Day to deliver long-term shareholder value. As an industry, We need to continue to build North American demand for grains, grain products, and oilseeds. With the RVO finalized earlier in the year and the recent release of the updated 45Z CF GREET model, substantial progress has been made to increase domestic demand for U.S. corn and soybeans. These actions support the U.S. farmer and enhance both of our business segments moving forward. Renewables quarterly results were driven by record ethanol production and higher margins. Our renewables trading desk also improved significantly across all products that we merchandise due to the increased demand. With some volatility back in the grain markets, we have established a larger forward book of purchases versus last year. Our fertilizer results came from improved operating efficiency, continued integration into the agribusiness segment, and focused risk management during their primary application season. Our current long-term growth capital... remain on track, and later during the outlook, I will discuss them in a little more detail. With that overview, I'll turn the call over to Brian to discuss our financial results. I will be back to discuss the outlook for the rest of 2026 after his update.