Commercial Metals Company (NYSE:CMC) Q1 2018 Earnings Conference Call - Final Transcript

Jan 03, 2018 • 11:00 am ET


Commercial Metals Company (NYSE:CMC) Q1 2018 Earnings Conference Call - Final Transcript


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Hello, and welcome, everyone, to today's Commercial Metals Company First Fiscal Quarter of 2018 Earnings Call. Today's call is being recorded. After the company's remarks we'll have a question-and-answer session and will have a few instructions at that time. I would like to remind all participants that during the course of this conference call, the company will make statements that provide information other than historical information and will include expectations regarding key macro economic drivers that impact our business, our margins, refinancing plans, the exit from our International Marketing and Distribution segment, the Company's future operations, the Company's planned new steel mill in Oklahoma, capital spending and the Company's planned acquisition of certain US rebar assets of Gerdau S.A.

These statements generally can be identified by phrases such as we, the Company, CMC, or management, expects, anticipates, believes, estimates, intends, plans to, ought, could, will, should, likely, appears, potential, outlook or other similar words or phrases. These and other similar statements are considered forward-looking within the meaning of federal securities laws and may involve speculation and are subject to risks and uncertainties that could cause actual results to differ materially from these expectations. These statements reflect the Company's expectations and beliefs based on current conditions, but are subject to certain risks and uncertainties, including those that are described in the Risk Factors section of the Company's latest annual report on Form 10-K. Although these statements are based on management's current expectations and beliefs, and the Company believes that such expectations and beliefs are reasonable, CMC offers no assurance that events or facts will happen as expected, and we caution those listening to this call to not place undue reliance on any forward-looking statements.

All statements are made only as of this date. Except as required by law, CMC does not assume any obligation to update, amend or clarify these statements in connection with future events, changes in assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or otherwise. Some numbers discussed or presented will be non-GAAP financial measures and reconciliations for such numbers can be found in the Company's earnings release or on the Company's website. Unless stated otherwise, all references made to year or first quarter are references to the Company's fiscal year or first fiscal quarter, respectively.And now, for opening remarks and introductions, I will turn the call over to the President and Chief Executive Officer of Commercial Metals Company, Ms. Barbara Smith.

Barbara Smith

Thank you. Good morning, and welcome to everyone joining us to review the results of our first quarter 2018. Today, I'm joined by Mary Lindsey, Senior Vice President and Chief Financial Officer. I will review highlights from the quarter and then Mary will cover the quarter financial information in more detail. Afterwards, I will conclude our prepared remarks with some comments on our outlook for our 2018 second quarter after which we will open the call to questions. Before covering the results for the quarter, I want to acknowledge that our fiscal year