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Steel Dynamics (STLD) Mark D. Millett on Q1 2016 Results - Earnings Call Transcript

Call Start: 10:00

Call End: 10:57

Q1 2016 Earnings Conference Call

April 21, 2016 10:00 AM ET


Tricia Meyers - Investor Relations Manager

Mark D. Millett - President, CEO & Director

Theresa E. Wagler - EVP and CFO

Chris Graham - VP of Steel Dynamics, Inc. and President of New Millennium Building Systems

Barry Schneider - VP, Bar products

Glenn Pushis - SVP Long Products Steel Group

Russell B. Rinn - President and COO


Matthew Korn - Barclays Capital, Inc.

Evan Kurtz - Morgan Stanley & Co.

Anthony Rizzuto - Cowen and Company

David Gagliano - BMO Capital Markets

Michael Gambardella - JP Morgan Securities

Timna Tanners - Bank of America Merrill Lynch

Jorge Beristain - Deutsche Bank Securities, Inc.

Philip Gibbs - KeyBanc Capital Markets, Inc.

Charles Bradford - Bradford Research, Inc.

Richard Yu - Citigroup


Good day and welcome to the Steel Dynamics' First Quarter 2016 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 21, 2016, and your participation implies consent to our recording this call. If you do not agree to these terms, please disconnect your line now.

At this time, I'd like to turn the conference over to Tricia Meyers, Investor Relations Manager. Thank you. Please go ahead.

Tricia Meyers

Thank you, Adam. Good morning, everyone, and welcome to the Steel Dynamics' first quarter 2016 earnings conference call. As a reminder, today's call is being recorded and will be available on the Company's Web site for replay later today.

Leading today's call are Mark Millett, President and Chief Executive Officer of Steel Dynamics; and Theresa Wagler, Executive Vice President and Chief Financial Officer. We also have our leaders for the Company's operating platforms, including our Metals Recycling operations, Russ Rinn, Executive Vice President. Our Fabrication Operations, Chris Graham, Senior Vice President Downstream Manufacturing Group, and our Steel Operations, Glenn Pushis, Senior Vice President Long Products Steel Group and Barry Schneider, Senior Vice President Flat Roll Steel Group.

Please be advised that certain comments made today may involve forward-looking statements about future events that by their nature are predictive. These are intended to be covered by the Safe Harbor protections of the Private Securities Litigation Reform Act of 1995, and we refer you to a more detailed form of this statement contained in the press release announcing this earnings call. These predictive statements speak only as of this date, April 21, 2016, and involve many risks and uncertainties related to our businesses and the environment in which they operate, any of which may cause actual results to turn out differently than anticipated.

More detailed information about such risks and uncertainties may be found in our most recent annual report on Form 10-K under the heading, special note regarding forward-looking statements and risk factors; and our quarterly reports on Form 10-Q or in other reports which we from time to time file with the Securities and Exchange Commission.

And now, I'm pleased to turn the call over to Mark.

Mark D. Millett

Well, thanks, Tricia, and good morning, everyone. Thank you for joining our call this morning. And first I’d like to tell you a quick moment to welcome our new call participants, Barry and Glenn. Upon Dick’s recent retirement at the end of March, Chris, Barry, and Glenn were named Senior Vice President’s reporting directly to me.

Chris retains oversight of the new Millennium Fabrication Group and also manufacturing as we seek downstream value add growth opportunities. Barry is in charge of the Flat Ross Steel Group and Glenn of the Long Products platform. Each of these gentlemen has extensive experience in the steel industry, as well as the unique distinction that being with Steel Dynamics from the very beginning, some 20 plus years ago. They are well versed and are performance driven, low-cost operating culture, and are passionately aligned with our commitment to creating superior value for our loyal customer base.