SunCoke Energy, Inc.

Thank you for standing by, and welcome to the SunCoke Energy, Inc. Q1 2020 earnings call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I now invite you to hand the conference over to your speaker today, Shantanu Agrawal, Director of Investor Relations. Thank you.

Please go ahead. Thanks, Jesse. Good morning and thank you for joining us to discuss Suncook Energy's first quarter 2020 earnings. With me today are Mike Rippey, President and Chief Executive Officer, and Faye West, Senior Vice President and Chief Financial Officer. Following management's prepared remarks, we'll open the call for Q&A. This conference call is being webcast live on the Investor Relations section of our website, and a replay will be available later today. If we don't get to your questions on the call today, please feel free to reach out to our Investor Relations team. Thanks, Shantanu.

Good morning and thanks to all of you for joining us on our call this morning. These are unprecedented times as the COVID-19 pandemic has affected every aspect of our society. Today I'd like to discuss our response to COVID-19, including the actions we have taken to protect the health and safety of our employees and contractors, to support our customers, and steps we have taken to reduce costs and preserve cash. Suncoke has been designated as an essential business in every state where we operate, which allows us to continue operations at all of our facilities. We're in close contact with our critical suppliers and vendors to ensure that we will be provided the materials and services required to continue operating in an uninterrupted manner. We at SunCoke have been keenly focused on taking proactive and effective steps to ensure the health and safety of our workforce. As the pandemic unfolded, our internal COVID-19 task force worked to follow the guidelines of the CDC, OSHA, and local health and governmental authorities to implement policies and procedures to protect our workforce and contractors. As part of this effort, we have implemented screening processes for essential employees as they enter our sites, enhanced cleaning procedures, staggered shifts, and required those who can work from home to do so. These are just a few of the actions we have taken to maintain a safe operating environment and to protect our employees. I'm extremely proud of our employees as they work diligently to serve our customers with essential products and support our business. We are continually monitoring the COVID-19 pandemic as it evolves and will continue to respond to issues that may arise. Turning to our performance for the quarter, the direct impact of the pandemic on our results has been limited. The operational performance of our domestic Coke segment is in line with our expectations, despite the challenging macro environment. Volumes were higher as compared to the prior year period, and we experienced continued strong operating operating performance from our facilities. Looking at the logistics segment, Foresight Energy filed for bankruptcy during the first quarter. And going forward, they will be shipping all of their coal through Javelin Global Commodities. We are shipping coal for Javelin this year at CMT under a one-year agreement and are in the process of negotiating a longer-term contract beyond 2020. While COVID-19 had limited impact on SunCoke in the first quarter, We recognize the challenging economic environment that exists today. In response to much lower demand across end-use markets, our customers have idled or banked a number of glass furnaces. The domestic steel utilization rate has dropped to levels only slightly above 50% and may go even lower in the short term before rebounding. The current situation is unprecedented. and as of today, we cannot accurately predict when demand will return to more normal levels. Suncoke's business model is built on long-term partnerships with our customers and our ability to partner with our customers in these unprecedented times is critical to our long-term success. While the take-or-pay nature of our contracts protects Suncoke from an array of downside risks, it is important for us to maintain the strength of our customer relationships. To that end, we are currently exploring contract restructuring alternatives with our customers to address these short-term market challenges. As the results of these conversations will most likely impact results this year, we find it necessary to withdraw our 2020 guidance. We will provide more details as we reach agreements with our customers. At this time, I can reiterate that our operations and business continuity remain strong, and April results are in line with our expectations. With that, I'll turn it over to Faye to review our first quarter earnings in detail. Faye?