Steel Dynamics, Inc.

Good day and welcome to the Steel Dynamics third 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, October 19th, 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'd 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' third 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, and Teresa Wagler, Executive Vice President and Chief Financial 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, 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, the 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 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 will also find any reference non-GAAP financial measures reconciled to the most directly comparable GAAP measures in the press release issued yesterday entitled, Steel Dynamics Reports Third Quarter 2023 Results. And now I'm pleased to turn the call over to Mark.

Thank you, David. Good morning, everyone. Thank you for being with us on our third quarter earnings call. As you saw in the release, once again, our teams achieved a solid financial and operational quarter. Almost 80% of our facilities had zero safety incidents, and our company-wide trailing 12-month incident rate is running at an all-time low. So congratulations to everyone, but more importantly, thank you for all your work to make that happen. It takes each and every one of us to get there. Cash from operations was a healthy $1.1 billion, and with a trusted EBITDA generation of $876 million. I think this performance truly affirms the cash generation resiliency of our diversified value-added product portfolio. In significant momentum in our aluminum flat roll investments, both current and prospective customers are excited by our market entry and the new and differentiated supply chain solutions we can provide. They are actually very, very surprised by the speed and completeness of our execution so far. Clinton Mill has proven its nameplate production capacity rate and full product capability but does remain challenged by equipment reliability issues. We are confident we can resolve the majority of these issues by the year end. Successes cannot be achieved without the best metals team in the industry. I'm incredibly proud of the whole SDI family. Their passion and spirit form the foundation of our company. They drive our success, and it's an honor to work among them. In fact, in this world of turmoil with the catastrophe happening in Ukraine, the atrocities in Israel, the suppression of the Palestinian people, and even closer to home, the anger and diversiveness within America and our political structure. It really is inspiring to come to work each and every day and be surrounded by very, very positive people that think right, they get it, they treat people right. and a focus on what we do each and every day. As such, our greatest leadership commitment is to our SDI family, not only our colleagues that come to work, but also their partners in life and their kids. I remind our teams, great financial performance is of no importance without keeping everyone safe. We continue to be focused on providing the very best for their health, safety, and welfare. Today, the SDI family, when you include everyone, We have over 45,000 people that are reliant on the decisions we make each and every day, and we truly are focused on that. Together, we're actively engaged in safety at all times and at every level, keeping safety top of mind and an active conversation. Before I continue, Theresa, would you like to give us some details?