Cleveland-Cliffs Inc (NYSE:CLF) Q1 2019 Earnings Conference Call Transcript
Apr 25, 2019 • 09:00 am ET
Good morning, ladies and gentlemen. My name is Denise, and I am your conference facilitator today. I would like to welcome everyone to the Cleveland-Cliffs' 2019 First Quarter Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session.
The Company reminds you that certain comments made on today's call will include predictive statements that are intended to be made as forward-looking within the Safe Harbor protection of the Private Securities Litigation Reform Act of 1995. Although the Company believes that its forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially. Important factors that could cause results to differ materially are set forth in reports on Forms 10-K and 10-Q and news releases filed with within the SEC, which are available on the Company's website.
Today's conference call is also available and being broadcast at clevelandcliffs.com. At the conclusion of the call, it will be available for replay on the website. The Company will also discuss results excluding certain special items. Reconciliation for Regulation G purposes can be found in the earnings release, which was published this morning.
At this time, I'd like to introduce Lourenco Goncalves, Chairman, President and Chief Executive Officer.
Thank you, Denise, and thanks to everyone for joining us this morning.
Before we start, I would like to introduce our new Chief Financial Officer, Keith Koci. Keith worked with me for 10 years, for the 10 years I ran Metals USA. He was Director of Budgeting in 2003. At the time, we listed the Metals USA on the NASDAQ, and became the controller of the Company shortly after. At the time we took the Company private in 2005, Keith was promoted to Executive Vice President, Business Development and in-charge of M&A and CapEx. With Keith in that capacity, we made several very successful acquisitions, which were properly integrated into our then Metals USA way of doing business. He was also very instrumental to me when we IPOed Metals USA in 2010 and listed the Company on the New York Stock Exchange. And he was my most valuable player when we sold the Metals USA to another publicly traded Company, Reliance Steel & Aluminum in 2013.
Keith has stayed with Reliance Steel as CFO of Metals USA until earlier this year, when I invited him to relocate to Cleveland and join me here at Cleveland-Cliffs. With the conclusion of the construction of our HBI plant number one in Toledo coming soon and with the several different alternatives related to future growth, we are currently considering for this great Company, I could not have a better CFO here at Cleveland-Cliffs.
So with that, I'll turn it over to Keith Koci for the financial overview portion of this call. Keith?
Keith A. Koci
Thank you, Lourenco, and good morning to all of you listening in on today's call. After about 2.5 months as Chief Financial Officer