Samuel McKinney

“The A&S margins took another meaningful step upward. First, can you just confirm that the third quarter represents the first full quarter of shipping under the new naval nuclear contract?”

“Despite continued run-ups in carbon and non-ferrous pricing over the course of the second quarter versus the end of the first quarter, I'll say, your quarter-end inventory increased less than $100 million despite the $600 million increase in revenue.”

“You were very clear last quarter, and you reiterated today that automotive OEMs booking more from cliffs, and those production schedules are tight. Of the 300,000-ton shipment uplift you're looking for in the third quarter, how much of that is from the improved automotive market?”

“Granted, we're coming off a low base, but steel imports have increased month over month over the last couple of months, and July is up noticeably versus June. Any concern on your end that steel pricing levels have finally caused customers to start seeking foreign sources in a more aggressive way?”