SunCoke Energy, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to the Suncoke Energy Incorporated Q4 2020 earnings call. At this time, all participants are on 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 will 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 zero. Alan, I'd like to hand the conference over to your speaker today, Chantanu Gora. Thank you. Please go ahead, sir.

Good morning, and thank you for joining us this morning to discuss Suncorp Energy's fourth quarter and full year 2020 results, as well as 21 guidance. 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. Before I turn things over to Mike, let me remind you that the various remarks we make on today's call regarding future expectations constitute forward-looking statements. The cautionary language regarding forward-looking statements in our SEC filings apply to the remarks we make today. These documents are available on our website. as are reconciliations to non-GAAP financial measures discussed on today's call. With that, I'll now turn things over to Mike.

Thanks, Shantanu. Good morning, and thank you all for joining us today. This morning, we announced Suncoke's fourth quarter and full year results. And before I turn it over to Faye, who will review the results in detail, I want to discuss a few highlights. Let me start by first thanking all of our Suncoke employees for their commitment and contribution to what was an extremely challenging year. The dedication of our team is clearly visible for our safety record, operational excellence, and financial results. On the coronavirus front, we continue to take all necessary measures to ensure the health and safety of our workforce, and the additional precautions we have taken remain in place. Our COVID-19 task force continually monitors and evaluates the evolving situation and responds and adjusts as the environment develops. On slide three, you can see the key initiatives that we set out and how we performed against these objectives. We delivered 205.9 million of adjusted EBITDA in 2020, exceeding our revised guidance range of 190 to 200 million. This reflects the strong performance of our Koch operations despite running at suboptimal utilization rates and strong cost control across the company. Earlier this year, we announced a company-wide cost savings initiative, which we anticipate will result in approximately $10 million of annualized savings. These cost savings initiatives provided benefits in 2020 and will continue in the years ahead. The domestic coke operations contributed $217 million to adjusted EBITDA in 2020, which exceeded the revised guidance range for domestic coke. I am pleased with the safe and efficient operation of our coke facilities, all while following additional precautionary measures due to the pandemic. Another significant achievement for Sun Coke in 2020 with the extension of existing contracts at Jewell, Haverhill 1, and Haverhill 2. We helped our customers navigate through challenging market conditions earlier this year by reducing current year production in exchange for contract extensions, which illustrates the strength and long-term nature of our customer relationships. We also signed a two-year take-or-pay call handling agreement with Javelin at CMT during the fourth quarter. This contract provides stability to the operations at CMT while we actively pursue new business opportunities. I also want to briefly touch on our foundry coke initiative. The testing, development, and capital deployment necessary for profitable foundry coke production went well throughout 2020. We are now commercial in this new market with a high-quality product. During the fourth quarter, we also explored export coke opportunities for 2021, and to date have had good success. We plan on running at full capacity in 2021 and feel confident that demand from export and boundary markets will support this level of production. Looking at our capital structure and deployment of free cash flow in 2020, We reduced gross debt by $110 million and net debt by approximately $61 million. This includes the opportunistic open market purchases of approximately 63 million face value senior notes. Additionally, we paid a $0.24 per share annual dividend and repurchased 1.6 million shares during the first quarter. As we reflect on our business, we are pleased with the strength of our core operations, which allowed us to drive robust cash flows for the year. This strong cash flow has provided us the ability to weather market challenges while also aggressively pursuing a balanced yet opportunistic approach to capital allocation. Fay will go into more detail on this, but at a high level, We made progress on our capital allocation initiatives for the year, reducing our debt, investing in our assets, and returning meaningful capital to our shareholders. With that, I'll turn it over to Fay to review our fourth quarter earnings in detail.