Steel Dynamics, Inc.

Good day and welcome to the Steel Dynamics first quarter 2025 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, April 23, 2025, 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' first quarter 2025 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 risks 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 if applicable, in any later SEC Form 10-Q. You will 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 2025 Results. And now I'm pleased to turn the call over to Mark.

Well, thank you, David. Good morning, everyone. It's good to be with you on our first quarter 25 earnings call. I will apologize in advance. I've got a crushing head code, so if I feel or sound a little rugged, please excuse that. But that said, our teams achieved a solid financial and operational performance in the first quarter. It's a continued testament, I think, to our business model and performance-driven culture. Highlights included record steel shipments of 3.5 million tons and adjusted EBITDA of $448 million. And most importantly, our teams continue to operate safely. We've been successfully ramping our four new value-add flat-rolled steel coating lines with the expectation of full earnings benefit later this year. These lines represent an additional 1.1 million tons of higher margin product diversification, which further adds to our position of being the largest non-automotive coater in North America. The Sinton team gained considerable momentum in the quarter, running at around 86% of capacity and many times over 90%. The team also achieved positive EBITDA for the quarter, with expectations of a steep acceleration of profitability for the remainder of this year. I'm very excited for the accomplishments that the team has made in the last six months, and there's absolutely no doubt it is the mill of the future. And Barry will go into some more detail during his opening comments. Lumen Dynamics. It successfully cast its first aluminum ingot in January at our Columbus, Mississippi facility and in March at our Mexican satellite slab facility. We're extremely proud and excited for the teams. Everything is on schedule for the systematic commissioning of the rest of the lines with an expectation to ship commercial quality coils in June. Again, I'm proud of the entire Steel Dynamics team. They are the foundation of our company and they continue to amaze me We're singly focused on providing the very best for their health and safety, and we continue building a world-class safety culture. In particular, our team's dedication to our Take Control of Safety program is extraordinary. 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. I'm continually inspired by the commitment our team members have for one another They consider themselves family and challenge the status quo each day. That said, there always will be more to do as we drive toward a zero-incident environment. So, Teresa, would you like to give us some details on the quarter?