Steel Dynamics, Inc.

Good day and welcome to the Steel Dynamics Second Quarter 2024 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 18, 2024, 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, Matt. Good morning, and welcome to Steel Dynamics' second quarter 2024 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 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, 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, 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 annually filed SEC Form 10-K under the headings Forward Looking Statements and Risk Factors, found on the internet at www.sec.gov, and applicable in any later SEC Form 10-Q. We 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 Report Second Quarter 2024 Results. Now I'm pleased to turn the call over to Mark.

Thank you, David. Good morning, everyone. Appreciate you being with us on our second quarter 24 earnings call. As you likely read, our teams achieved a solid second quarter financial and operational performance. I think most gratifying was achieving another great quarter for safety. Teams have been commissioning and ramping up four new value-add flat-roll steel coating lines at a record rapid pace, which is adding 1.1 million tons of higher-margin product diversification. Though experiencing some challenges in the second quarter, the Sinton team continues to make progress, gaining full access to their melting capacity this past week. New shipments for the quarter were 3.2 million tons, Revenues were $4.6 billion and adjusted EBITDA, $686 million. Cash flow from operations was $383 million. I remain incredibly proud of the Steel Dynamics team. They are family. It's an honor and a pleasure, to be honest, to be part of the team that looks out for one another and that strives for excellence each and every day. And that's why we're so focused on providing the very best for their health, their safety, and their welfare. We're actively engaged in safety at all times and at every level, keeping it top of mind in an active conversation each and every day. With significant impact, the team continues to be deeply focused on our Take Control of Safety program that is yielding an even better safety culture. But as I always say, there's more to do, and we will not rest until we consistently achieve our goal of zero injuries. So with that said, Teresa, would you like to add some color to the quarter?