Steel Dynamics, Inc.

Good day and welcome to the Steel Dynamics first quarter 2023 earnings conference call. At this time, all participants are on a listen-only mode. After management's remarks, we'll be conducting a question and answer session and instructions will follow at that time. Please be advised this call is being recorded today, April 20th, 2023, and your participation implies consent to our recording of this call. If you do not agree to these terms, please disconnect. At this time, I'd like to turn the conference over to David Lipschitz, Director, Investor Relations. Please go ahead.

Thank you, Matthew. Good morning, and welcome to Steel Dynamics' first quarter 2023 earnings conference call. As a reminder, today's call is being recorded and will be available on our website for replay later today. Leading today's call are Mark Millett, Chairman and Chief Executive Officer of Steel Dynamics, Teresa Wagler, Executive Vice President and Chief Financial Officer, and and Barry Schneider, President and Chief Operating Officer. The other members of our senior leadership team are joining us on the call individually. Some of today's statements, which speak only as of this date, may be forward-looking and predictive, typically preceded by believe, accept, anticipate, or words of similar meaning. They are intended to be protected by the Private Securities Litigation Reform Act of 1995 should actual results turn out differently. Such statements involve risk and uncertainties related to integrating or starting up new assets, the aluminum industry, the use of estimates and assumptions in connection with anticipated project returns, and our steel, metals, recycling, and fabrication businesses, as well as to general business and economic conditions. Examples of these are described in the related press release, as well as in our annual filed SEC Form 10-K under the headings Forward-Looking Statements and Risk Factors, found on the Internet at www.sec.gov, and if applicable in any later SEC Form 10-Q. You'll also find any reference non-GAAP financial measures reconciled to the most directly compared GAAP measures in the press release issued yesterday entitled Steel Dynamics Reports First Quarter 2023 Results. And now I'm pleased to turn the call over to Mark.

Thank you, David. Good morning, everybody. We certainly appreciate you all joining us for our first quarter earnings call today. As you read, once again, our team's achieved a solid financial and operational quarter. is highlighted by, most importantly, a consecutive quarter of significant safety improvement. 82% of our facilities were incident-free, and most importantly, our piece of focus appears to be minimizing severity rate. We had record steel shipments of 3.3 million tons and adjusted EBITDA generation of a strong $950 million. Incident's performance is showing improvement with a clear path to profitability in the second quarter of 23, given the expectation of increased volumes, and we are also making great progress on our aluminum flat-rolled investment. There's great excitement within the prospective customer base for a new and innovative supply chain solution. As always, I'm incredibly proud of our teams. They are the foundation of our company, and they drive our success. It is their culture of excellence and the intentional diversification of our product portfolio that allows us to maintain higher utilization rate and maximize opportunities, resulting in higher lows and higher highs through all market cycles and producing superior financial metrics. However, for safety, great financial performance is of no import without having our team safe. Often employees are described as a company's most important resource, but for us, for Steel Dynamics, they're more than that. They're family, and they're a number over 12,000 strong. We're focused to provide the very best for their health, safety, and welfare. We're actively engaged in safety at all times, keeping it top of mind and an active conversation at every level of the organization. With that focus, as I mentioned, the team's safety performance further improved in the first quarter of 23, but there's more to do, and we will not rest until we consistently achieve our goal of zero injuries throughout our organization. So with that said, and before I pursue the quarter. Theresa?