Steel Dynamics, Inc.

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

Thank you, Holly. Good morning, and welcome to Steel Dynamics' second 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 of 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 a state, may be forward-looking and predictive, typically preceded by believe, expect, 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, use of estimates and assumptions in connection with anticipated project returns, and our steel, metal 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 heading 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 comparable GAAP measures in the press release issued yesterday entitled Scale Dynamics Report Second Quarter 2023 Results. And now I'm pleased to turn the call over to Mark.

Thank you, David, and good morning, everybody. Thank you for being with us on Second Quarter Earnings Call. Once again, our teams achieved a solid financial performance, including continued safety improvements, 81% of facilities were incident-free through the quarter. We had cash from operations of $808 million and EBITDA generation of $1.2 billion. We also received improved investment-grade credit ratings, providing further third-party confirmation of the strength of our business model. We're also making significant progress on our aluminum flat-wheeled investments. There is great excitement within the prospective customer base for new and innovative supply chain solutions from a differentiated supplier. 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, combined with our meaningful value-added growth, diversification, and supply chain positioning that is resulting in our earning strength in all market cycles. However, as I've often said, great financial performance is of no importance without safety for our SDI family. We were focused on providing the very best for their health, safety, and welfare. We were actively engaged in safety at all times, and at every level, keeping it top of mind and an active conversation. That focus, as I said, the team's safety performance further improved in the second quarter, way ahead of industry averages. There's more to do. We will not rest until we consistently achieve our goal of zero injuries. But before I continue, Teresa, would you like to give us some financial cover?