Reliance Steel & Aluminum Co

Greetings and welcome to the Reliance Inc. Second Quarter 2026 Earnings Conference Call. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. You may be placed into question and queue at any time by pressing star 1 on your telephone keypad. If anyone should require operator assistance, please press star 0. It's now my pleasure to turn the call over to Kim Orlando, Investor Relations. Kim, please go ahead.

Thank you, operator. Good morning and thanks to all of you for joining our conference call to discuss Reliance's second quarter 2026 financial results. I am joined by Karla Lewis, president and chief executive officer, Steve Koch, executive vice president and chief operating officer, and Arthur Ajemyan, senior vice president and chief financial officer. A recording of this call will be posted on the investor section of our website at investor.reliance.com. Please read the forward-looking statement disclosures included in our earnings release issued yesterday and note that it applies to all statements made during this teleconference. The reconciliations of the adjusted numbers are included in the non-GAAP reconciliation part of our earnings release. I will now turn the call over to Karla Lewis, President and CEO of Reliance.

Good morning, everyone, and thank you for joining us to discuss our second quarter 2026 results. Reliance delivered another excellent quarter, building on the positive momentum of the first quarter and the continued strong execution by our teams. Market conditions remained favorable, supported by improving customer activity, extended mill lead times, and strong pricing across our broad product portfolio. We achieved our second highest quarterly revenue, as well as record quarterly tons sold, and continued to outperform broader industry shipment trends. These results and our sustained industry outperformance reflect our scale, diversification across end markets, products and value add service offerings and our position as a partner of choice with domestic mills. Non-residential construction and market sales remain strong and we began to see meaningful improvements and our sales to the general manufacturing, aerospace and semiconductor markets throughout the second quarter. We also benefited from initial contributions from the U.S. Department of Homeland Security border wall contract that we were awarded earlier this year, generating activity in excess of our guidance and contributing meaningfully to our second quarter earnings. and Stephen Arthur will speak about its financial impact later in the call. Elevated pricing levels along with strong execution by our teams drove significant growth in our profitability, including a 40% year over year increase in non-GAAP pre-tax income and non-GAAP earnings per share of $6.27, our highest EPS result since the second quarter of 2023. Trade policy continues to limit imports and support strong domestic pricing, which is further strengthened by extended lead times. Our longstanding domestic mill partnerships help ensure reliable material availability, allowing us to better serve our customers and capture new opportunities. Our balance sheet and liquidity remain key competitive advantages supporting strategic growth investments and ongoing returns to stockholders, as well as disciplined capital deployment. For the full year 2026, our capital expenditure outlook remains approximately $300 million, with about half allocated to strategic growth investments to enhance processing capabilities, strengthen customer service, expand our footprint and grow volumes in attractive markets. As customer optimism builds and activity continues to strengthen across infrastructure, including the border wall project, semiconductor, general manufacturing, and aerospace, Reliance remains exceptionally well positioned to capitalize on the many meaningful opportunities that we expect to continue to materialize throughout the second half of 2026 and into next year. I'll now turn the call over to our COO, Steve Koch.