Ladies and gentlemen, welcome to the SunCoke Energy second quarter 2023 earnings call. My name is Glenn, I'll be the operator of today's call. If you'd like to ask a question during the presentation, you may do so by pressing star one on your telephone keypad. I will now hand you over to your host, Shantanu Agrawal, VP Finance and Treasurer, to begin. Thanks, Glenn. Good morning, thank you for joining us this morning to discuss SunCoke Energy's second quarter 2023 results. With me today are Mike Rippey, Chief Executive Officer, Katherine Gates, President, and Mark Marinko, 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 do not 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 Katherine, 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 Katherine. Thanks, Shantanu. Good morning, thank you for joining us on today's call. Earlier today, we announced SunCoke Energy's second quarter results. I want to discuss a few highlights before turning it over to Mark to review the results in detail. I'd like to start by thanking all of our SunCoke employees for their contributions to our record second quarter results. Our domestic coke plants ran at full capacity and delivered excellent results for the quarter. Our logistics terminals were impacted by weaker commodity market conditions, but still delivered solid results. Through our collective efforts, we delivered consolidated Adjusted EBITDA of $74 million, a record for second quarter performance. We also announced today that the board of directors of SunCoke approved a 25% increase in our quarterly dividend from $0.08- $0.10 per share. The increase is effective on September 1st, 2023, the next quarterly payment. This meaningful increase demonstrates the board's and management's confidence in our continued progress and the strength and stability of our underlying core businesses. Our foundry coke business continues to perform well, with the foundry coke expansion project recently completed on time and on budget. This project allows SunCoke to continue to grow our market participation without losing the flexibility to alternate between blast and foundry coke production. Our order book for non-contracted blast furnace coke is solid, with substantially all of our non-contracted blast coke sales finalized for the full year. From a leverage perspective, we ended the quarter with our gross leverage ratio at approximately 1.79 times on a trailing-12-month Adjusted EBITDA basis. Finally, as we continue to execute against our 2023 objectives, we are well positioned to achieve the high end of our full year Adjusted EBITDA guidance range of $250 million-$265 million. With that, I'll turn it over to Mark to review our second quarter earnings in detail. Mark? Thanks, Katherine. Turning to slide four, net income attributable SunCoke was $0.24 per share in the second quarter of 2023, up $0.03 versus the prior year period. Adjusted EBITDA for the second quarter of 2023 was $74 million, an increase of $2.7 million from second quarter 2022. The increase in Adjusted EBITDA was primarily driven by favorable coal-to-coke yields and higher coke sales volumes due to timing, partially offset by lower contribution margin on non-contracted blast coke sales and lower volumes in our logistics segment. Moving to slide five to discuss our domestic coke business performance in detail. Second quarter domestic coke Adjusted EBITDA was $68.2 million, and coke sales volumes were 1,043,000 tons. The $3.9 million increase in Adjusted EBITDA as compared to the same prior year period, was driven by, excuse me, excellent operational performance. Our domestic coke plants achieved higher coal-to- coke yields during the second quarter. Our plants also realized higher coke sales volumes in the second quarter due to a coke shipment timing shift from the first quarter. These operational achievements were partially offset by the lower contribution margin that we anticipated on our non-contracted blast coke sales. The domestic coke fleet continues to operate at full capacity, and substantially all non-contracted blast furnace coke sales are finalized for the full year. Given our strong performance during the first half of the year, we are well positioned to deliver domestic coke Adjusted EBITDA on the high end of our guidance range of $234 million-$242 million. Moving on to slide six to discuss our logistics business. Our logistics business generated $11.7 million of Adjusted EBITDA and handled combined throughput volumes of approximately 5.2 million tons during the second quarter of 2023, as compared to $12.5 million and 5.8 million tons, respectively, during the same prior year period. The decrease in Adjusted EBITDA was primarily due to the lower throughput volumes that resulted from the weaker commodity market conditions. Thermal Coal pricing continued to decline, CMT benefited from the full API 2 price adjustment during the second quarter. While we anticipate continued volatile commodity market conditions, we expect to deliver logistics full-year Adjusted EBITDA within our guidance range of $47 million-$50 million. Turning to slide seven to discuss our liquidity position for Q2. SunCoke ended the quarter with a cash balance of approximately $78 million. Cash flow from operating activities generated approximately $69 million. We fully paid down our revolver balance of $35 million during the quarter, spent $27.8 million on CapEx, and paid $7.2 million in dividends at the rate of $0.08 per share. In total, we ended the quarter with a strong liquidity position of approximately $428 million. As Katherine mentioned, we announced a 25% increase in our quarterly dividend. This increase is consistent with one of our key capital allocation priorities, which is rewarding our long-term shareholders. With that, I will turn it back over to Katherine. Thanks, Mark. Wrapping up on slide eight. As always, safety, environmental, and operational performance are top priorities for our company. We remain focused on safely executing against our operating and capital plan for full utilization of our coke-making assets. As I said earlier, our foundry coke business continues to perform well. Our expansion project was completed on time and on budget and allows us to grow our market participation while maintaining flexibility to make either blast or foundry coke. We continued to make progress on our capital allocation strategy during the quarter, with a meaningful increase in our quarterly dividend. We continuously evaluate the capital needs of the business, our capital structure, and rewarding long-term shareholders, and will make capital allocation decisions accordingly. Finally, based on the reliability and performance of our operating segments, while also factoring in volatile market conditions, we look to achieve the high end of our full-year Adjusted EBITDA guidance of $250 million-$265 million. With that, let's go ahead and open up the call for Q&A. Thank you. Ladies and gentlemen, if you'd like to ask a question, please press star followed by one on your phone keypad now. When preparing to ask your question, please ensure your phone is muted locally. We have our first question comes from Lucas Pipes from B. Riley Securities. Lucas, your line is now open. Thank you very much, operator. Good morning, everyone, and congrats on a good quarter. Thanks, Lucas. I, I wanted to start the first question with the capital return announcement you made. You're increasing the dividend. How, how do you think about buybacks? You know, from a tax perspective, buybacks could be a lot more efficient. Wondering where buybacks could factor into your capital return framework from here. Thank you very much. Well, thanks, Lucas. You know, as you know, you know, we consider all options when we're making capital allocation decisions, and as we've said, we look to reward our long-term shareholders. We really determined that a dividend increase was the best way to do that, at this time, and given the steadiness of our cash flows and, you know, recognizing and taking into full account the GPI project. Got it. Okay. I appreciate that. On the export side, can you remind us roughly what amount of volumes go into the coke export business? Well, you know, Lucas, as you know, you know, we don't discuss- On an annual- the specifics. Sorry, Lucas, go ahead. Yeah. Yeah, just, just kind of a rough range on an annual basis. Lucas, this is Shantanu. You know, on a combined basis, you know, we have said that for the full year, roughly 650,000 tons of equivalent blast furnace coke is going into the combined, you know, spot blast furnace and foundry coke market. That number still hasn't changed, and obviously, you know, we, as we have talked before, we really don't break out the number between foundry coke and spot blast furnace coke for the commercial reasons. Roughly, you know, we have 4.2 million of capacity, 3.6 million is contracted, and 600-650 equivalent blast furnace is going into the foundry and export spot blast furnace coke markets. Okay. All right. Geographically, where, where would exports typically be going? Kind of what's a rough geographic breakdown of the coke export business? For the past couple of years, you know, in 2021, 2022, we did majority of the export coke market going into, you know, Europe and, and South America, and these locations. In 2023, you know, we did some shipments to South America. As we talked about in the last quarter, we are seeing more of a demand from North American, you know, coke users, which could be our domestic, domestic, purchasers as well as into Canada. The market is changing a little bit in 2023 as compared to, you know, what we did in 2021 and 2022. Yeah, Lucas, we really think about our, you know, our merchant blast coke on really as a, as a, as an uncontracted basis, but to really look at where we can find the most profit, whether it's seaborne or North American. That's really, you know, that's really where we are today, as Shantanu said. Very helpful. The increased demand in North America, anything you could point to as, what, what, what has been driving that? Is that Canada or domestic? I would just say that, that, you know, we're, we're certainly seeing interest in both. I think it's, it's fair to say. I, I think it's driven by Lucas, just to explore on that. I mean, it's just driven by, you know, the coke demand and supply balance. I think, you know, coming through COVID, there was huge inventory levels build up, and then as those inventory levels have are driven down, I think all the steel producers in North America are reassessing their, you know, coke situation, how much blast furnaces they want to run, and things like that. That is what, what is causing this, this, you know, additional, we call it additional demand within, within, within, within the North American region. I think, Lucas, as you know, you know, we've seen, over the last, you know, year and year and a half, you know, a significant amount of, of, you know, coke supply come off the market, so that factors into this as well. That, that's helpful. Is this additional demand translating into desire for longer-term contracts? Could we see that 3.6 million number creep up, or is there downside risk because some blast furnace operators still look to growth in on, on the EAF side? How, how, how do you think about that 3.6 million contractual level over the coming years? Thank you. Well, I think I mean, we're certainly, you know, we're certainly pleased with the, the contracted coke that we do have, and it provides us, the steadiness of our, our cash flows and otherwise that you're seeing, and you're seeing that, you know, come through here as we increase our, our dividend. We've certainly also benefited from our, merchant coke sales, and so we'll just continue to look for ways to, most profitably put our coke, out there into the market. Thank you. I appreciate that. My recollection is that most of the coke spot sales are out of Jewell. Do I remember that right? Has maybe something shifted within your portfolio? Thank you. Lucas, I mean, Jewell is where we are producing most of the foundry. The, the spot sales are coming mostly out of Haverhill and a little bit of combination and a little bit extra from Jewell. Haverhill and Jewell kind of act as our combined, you know, spot coke, including foundry and then spot, spot blast furnace. Okay, okay. That's, that, that's, that's helpful. If, if you export, is it down through the Gulf or off the East Coast? It's down through the Gulf. Typically? Yep. Got it. Okay. Yeah, a breakdown would be super helpful. Just kind of a rough breakdown of export volumes. I appreciate you don't want to give exact numbers, but a rough, a rough breakdown would be very helpful on the export side. The 650 is obviously a big number, and if it's... Yeah, understood on that, Lucas. Again, due to the commercial, right, I mean, we have talked about foundry markets being so small. There are not a lot of players in there, if we break down one, the become-- the other one becomes very apparent. I, I understand and your concern, at this point in time, it's very difficult for us to do that. All right. I appreciate the color and, yeah, keep up the good work. Thanks, Lucas. Thank you. As a reminder, ladies and gentlemen, if you would like to ask any further question, please press Star followed by one on your phone keypad now. We have our next question comes from Nathan Martin from The Benchmark Company. Nathan, your line is now open. Thanks, operator. Good morning, everyone. Congrats on the quarter. Thanks for taking my questions. Thank you. Maybe I'll start. Let's see, all foundry coke sales for the year finalized, substantially all non-contracted coke sales finalized for the full- year as well now. You know, I understand full, full- half to go, but, you know, at least to me, you appear well on your way to potentially exceed full-year Adjusted EBITDA guidance, not just hit the high end. You know, maybe just curious, is there something that kept you from raising guidance at this point? Are there any potential headwinds you've seen in the second half? I think, Katherine, you mentioned some volatile market conditions. Maybe you could elaborate on that. Thanks. Yeah, absolutely, Nathan, and appreciate the question. You know, as, as I did say, the commodity markets are weaker and, and certainly more volatile. I would actually say that that's not just for our logistics volumes, but it's actually for price as well on the remaining uncontracted blast coke merchant tons. We have to keep that in mind. You know, I expect that we'll have some benefit actually from the API 2 price adjustment in the second half, but we're not gonna see that at the same level that we saw at the first half of the year. You know, as you saw on the slides, you know, our corporate costs were actually lower in the second quarter, so we expect those to be higher. This was all timing, so we expect them to be higher in the second half. You know, and frankly, you know, Nathan, the second quarter was a record for us. We had exceptional performance. We couldn't be more pleased with that, but what we really can't forecast based on record performance. You know, we'll have more clarity at the end of the third quarter, and we'll certainly reassess at that time. Those are some of the factors driving our guidance here. Okay. I appreciate that, Katherine. I apologize if I missed it. You just mentioned logistics volumes. Did you guys provide any updated sales guidance for the logistics segment? Nathan, the, the guidance for logistics volumes are unchanged at this point. Okay, Shantanu. I think it was 22 million tons kind of overall, and I think the split was, remind me, I think it was something like 12 million, ex-CMT, so 10 million at CMT? Yes. I think, I think you're right. Okay. And maybe just... You mentioned the comment on API 2 benefit, Catherine. You know, I guess you said, you know, the benefit probably will be down sequentially based on where we see averages so far. Is that, is that true? And then it would be great to get some color, you know, on what you guys are seeing from an export coal standpoint from your, from your coal partners, you know, given that, that decline. Thanks. Oh, sure, Nathan. Yeah, what, what I said was that, you know, we've seen the API 2 prices, you know, kind of fall during the quarter. When we look to third quarter, we won't see that same benefit that we saw in the first half, but we also don't expect that to just completely drop off. There'll be some benefit for us, you know, in the third quarter, but certainly not at the level that we were in, in, in the first half. You know, and as we, you know, as we know and as we, you know, took into account with our guidance, you know, the, the, export markets, you know, they are, they are weak right now, and they are volatile. We fully took that into account, you know, in, in saying that we would be at the high end of our guidance range. Okay. The export markets for coal specifically are, are weak, is what you're saying, or just logistics in general? Nathan, I mean, I think, I think you're talking about the coal. I think Katherine was talking about the export market of the metallurgical coke. On the coal side, yes. I mean, we have seen a slight drop-off in the volumes, similar to, you know, the pricing and volume go hand- in- hand together. You know, there is a drop-off in volume, but given that we are guiding to our, you know, volume guidance being unchanged, we feel that there's not going to be a significant drop-off, but definitely seeing a little bit of softening in the second half, both in volume and pricing. Got it, Shantanu. That was obviously what I was looking for there by confirming that, that you have not changed your full year logistics shipment guidance in the face of maybe some weakness we're seeing right now. Okay. Perfect. Then maybe just one last one. You know, you guys completed the foundry coke expansion project at Jewell on time, on budget, so congratulations there. Are there any other projects on the horizon for, you know, 2024 or beyond? Just trying to think about potential, you know, for growth CapEx on top of maintenance, which I think you guys previously tagged at around $80 million-$85 million, if that still holds true. Thank you. Right. Beyond, our, you know, our regular, maintenance CapEx, really the, the, the growth CapEx that we're contemplating is for the GPI project, if we're able to move forward with that project. As you know, we are still, working with US Steel on that. That's what we contemplate out ahead for purposes of growth CapEx. Got it. Obviously, absent that, you still feel comfortable in that $80 million-$85 million kind of maintenance levels. Does Does that still hold true? We. Exactly right. Yes. Okay, perfect. All right. Well, I appreciate all those comments, guys. I'll leave it there, and best of luck in the second half. All right. Thank you. Thank you, Nathan. We have no further questions on the line. I will now hand, hand back to Katherine Gates, President of SunCoke Energy, for closing remarks. Thank you all for joining us today, and thank you for your interest in SunCoke.