Steel Dynamics, Inc.

Good day and welcome to the Steel Dynamics fourth quarter and full year 2024 earnings conference call. At this time, all participants are on 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, January 23, 2025, 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 and Vesta Relations. Please go ahead.

Thank you, Matthew. Good morning, and welcome to Steel Dynamics' fourth quarter and full year 2004 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 Security 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 in 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, if applicable, in any later SEC Form 10-Q. You will also find any reference non-GAAP financial measures reconciled to the mostly directly comparable GAAP measures in the press release issued yesterday entitled Steel Dynamics Reports Fourth Quarter and Full Year 2024 Results. And now I'm pleased to turn the call over to Mark.

Thank you, David. Good morning, everyone. We appreciate you taking the time to join us for our fourth quarter and full year 2024 earnings call. As you saw, our teams achieved a solid financial and operational performance in 2024, in what was a challenging market environment, posting best-in-class financial metrics, which is certainly a testament to our business model and performance-driven culture. The highlights, obviously, second-highest annual steel shipments of 12.7 million tons, cash from operations of $1.8 billion, and adjusted EBITDA of $2.5 billion. And most importantly, we celebrated our safest year ever, Additionally, we've been ramping up our four new value-added flat-roll steel coating lines with the expectation of full earnings benefit in 2025. These lines represent an additional 1.1 million tons of higher margin product diversification for us. The Sinton team gained considerable momentum in the last two months, running above 80% capacity, and they are doing even better in January. With expectations to reach profitability in the coming months, and Barry will go into more detail in his comments about the progress and what is yet to come. Aluminum Dynamics cast its first aluminum ingot two weeks ago at our Columbus facility, and we're extremely proud and excited for the team. Everything is on schedule for a systematic commissioning of the rest of the plant to ensure commercial shipments this June. I could not be more proud of the entire Steel Dynamics team. They are the foundation of our company. There's no doubt that their passion, innovative spirit, and commitment drives our success. As I mentioned, certainly the most gratifying achievement was having a record year in terms of safety. Both our recordable injury and lost time rates were the lowest in our history. We continue to build a world-class safety culture, and our team's dedication to our Take Control of Safety program is absolutely extraordinary. The core safety teams visited 85% of our 124 locations in 2024. These teams are made up of our teammates who volunteered to sacrifice time from their families to keep their colleagues safe. And they are truly making it happen. 60% of our locations had zero recordable injuries and 81% had zero lost time incidents last year. I'm continually inspired by the commitment of our team members have for one another. They consider themselves family and challenge the status quo each and every day. And even with those phenomenal performance metrics, we certainly have a lot of work to do as we strive toward our zero incident environment goal. But with that introduction, Theresa, would you like to give us your thoughts for the quarter and for the year?