much, for all very Thanks this as and of joining usual, you to afternoon. Pete thanks us
tragic Century very known Before we get and started, family I do community. It's truly within well news. the need our some within broader to obviously report
at a Sebree the a release an April. ago, you've look If seen sent Xth anode you've plant it to the out suffered the hours had at was the in early manufacturing hour press we of chance since in fatality at
ensure We're us our we're was especially others happening sharing to Century, to the and safe. the devastating within each all company at really and a that commitment with never in given event comes of passionate close other our and painful it to collective This efforts similar again, and keeping was redoubling to our learnings industry.
in in family our Our prayers. and will firmly thoughts late colleague's is remain and our
X, quick me of overview And situation. with you to give just the that, if a you turn let please current Page
in crisis and conditions first us and moment, quarter you before is evidence industry the to Craig actually that will the quite provide you'll This a usual, in As favorable health strong. detail financial improving. were performance came that see some
profit good in, further the and that You'll that flow excellent reduction and this resulted before cost put in our cost cash March. recent was conversion, in also actions in see structure we
moment. good very period pandemic detail you we've shape. confidence to some gone us a in gives into on that this our just I'll All the this response give in
reported circumstances of couple weeks given minutes, the of we a at continue view of changing. couple even this of In to facts moment changeable see without obviously the our that all take and normally. And ago, a environment. don't highly plants our the of in As each you is through any of the will we facilities, given. Pete current the present set it's goes industry analysis the conditions saying industry at operate It
unevenly all spread in see is temporary customers, and our did demand markets. of the consistent that in the We end our our on decline Europe. destruction there's This been order far, believe Thus we demand significant But US markets a and XX%. industry-wide with in of in the discussions end little almost immediate based on data. average there's across
been market has the automotive. and large been reported As most widely, immediately has significantly impacted
Others somewhat and better, military impact construction and infrastructure utility relatively doing good in for lag. other the certain example, are And there sectors. others like are could markets and still defense shape, so the
restarts plant of we've the some around seen You've obviously Obviously, manufacturing those. noted recent announcements all world.
dynamic, year. but of half us the the on situation those very optimism So back give obviously, relative cautious the remains some do
led in metal precipitous to obviously the price. has this a All drop
You've seen that.
case, coincident the aluminum As is here. a normally has very or been indicator leading
ago. couple beginning Duty the are Premium its just highs, US was premiums delivery price EU of about XX%. low, At LME obviously, Midwest cash today, we down stand is their down of meaningfully. its about level. the down the it XX% from Paid year are and down Both XXXX As XX% also months from a the Regional
before more on the the meaningful see to that begun a you quick generally Let a because well go through have update me Midwest slide give Premium health we crisis.
exemption. aluminum when XXXX, time the of up easy just exemption. of from exempted that see understand May. It's XX% half fall you'll quite during That posted the fact, with the a that tariffs. the exemption. you are PXXXX Canada period particularly, do Canada began from after Midwest is, was XXX the before from time up XX%. total second that Premium imports to was since more compare similar the very analysis, And And period Section Canada the the XX% exemption almost In The problem shortly last down are the primary you since since the when imports
a in government well commitment to is The the the place And contrast issue, of crisis. these we agreed the if to that to in would before imports occur to you'll the Countering This the were price, a not at tariffs surge. and the was would to saw key of surge is parties the trends in as metal exposed, the largely go and we've into stark the time US officials. continuing known this health we're post-exemption course, of exemption, commodities movements cease. decline not back price by which seen Canadians remember, that the
was industry $XXX down environment. ton discussed we're the represents so off And European a length. are believe since at level power late XX% and the through XXXX the beginning our supply, a US further view. XX%. successfully normalized a index Current in of it's $XXX we to the difficult alumina down this we've this wholesale Bottom since level well year. The already price traded and of of setup to the price, to line, due coming navigate to rebalance beginning year, XX.X% significantly also prices LME of in of
of price cash the near price. our down level in the current LME implemented brought decline breakeven have recently actions, to these cost our reduction very with combined raw materials, The
health that some and have Craig I'd the to in we to quick sense liquidity like a and on our a give strong give minute, our this you the first, crisis all In give extra detail. status support. addition, provides of just But operations. you further update will response you a I'll of
we employees a couple X, of of tasks required in March, into and personnel to sense. early Slide each We the me expertise accomplish These policies range of segregated each you common plant. essential preventative you could give are let plant. please, necessary groups preserve implemented other a many department frequent began so cleaning in closed our in all each the examples turn like so of areas. We numerous, just restrictive can required areas smallest our get a companies. the and If staggered you to We to nonessential deep
some the who the Beginning way and their way to policies from in work employees equipment. shared who our and back facilities changed And all are began the around temperature gate get March, procedures on We out. requiring of on the people through enter to use we able measured so required of doing give production examples. so hopefully, process, said, given began continuous today. take it does here. our we are But you're These any do to a home just as nature simply risks you aware, sense. can't the And I and continue all as
strenuous extra people These an burden a already our on time. changes put and during real
quality the focus Our only focused of folks taken and that, tasks. solely on the pretty any and high keeping it's we're quality the tough objective is maintaining to attitude. strong conditions. We've allow The the on have running kept a on essential also the grateful. kept challenges safely production. to with these really, on hold our activity straightforward: put They've of plants production and folks plants despite running positive these really these And for not our
deferred Examples the of of effect. as projects types. these maintenance intended as measures include these had activities Thus nonrecurring well improvement most far, various have
that's across COVID-XX we've case today, confirmed only Netherlands. and Iceland the one had of As including company, entire
plants been to believed continued folks interruption. to addition, we In operate our quarantine been to required the infected have And have all without with virus. handful a persons infected thus, contact after who of by have have or
thus minimal we've essential As material same true The continued have key our you'd with critical the been in providers. expect, partners. and our All businesses to operate with logistics is business deemed contact interruption. suppliers of been constant raw have
That's do said, the our exposure some asked per normal. like All for of their as relatively reduce a months. products have continues of added sectors automotive, cast. to couple for customers essentially of have be our as production value We That less example. take it's hit hardest to of to sold
gaps with products. we're these working production we're increased of them, and standard obviously, filling in And with
these lower with come course, premiums. Of
We to trends. these offsets good seeing are, some however,
record For metal. Hawesville, of producing plant example, is high-purity amounts at
I we're really As and our part this said and pleased sectors, before, product be required to continues military the by proud doing regard. this be to in
really largely new to the And gratifying at skills a health of there. manner we'll importantly, technology this declare ready is crisis, and no We're Hawesville through notice. part our to the of of operate until of means importantly, this by success the continue and, in upgrade ourselves workforce further confirmation the the
in situation a the any have the implement do in were to we that contingency to Lastly, downturn. event health the ready plants plans take of
some these I'll in on before With to you by In metal about summary And our pricing give actions firmly a all position to did please. that, quick let's of and over premiums. corrective begin we the of early handing to comments Craig. you Pete and move ahead get March, the outlook place. falling X, Page cost were mid-March, of
projects canceled salary minutes First, all a nonessential hiring couple deferred. ago. personnel. I ban, This ceased and the discussed types increases higher-earning includes instituted and of of spending We was a non-production for
five in year, the hold on Hawesville. The obviously, last obviously this earlier most the significant the fifth very year. capital this rebuild rebuild completed of of majority projects. fourth the potlines early there. put of line The is of the We potline these, the That's vast of was
for crisis the is all line essentially, produces the us project commodity that the at flow before Thus, So nearing its hit. planned. of the incremental that cash was completion prices. behind restart of fourth even now as health current That spending
Further, Hawesville's absorption structure. the improves cost cost further fixed
down cash $XXX current of will ton example, operating quarter. QX cost For QX plant's the to be from the a
were phase second realized And have the we most be As ready for will actions place were implementation put necessary. in become it again, in I actions the of positive a next March, of said, if to these impact in so quarter.
couple revolving at a update conceivable in talked any need drawdowns comments, make no we about future. late foreseeable time in we the credit We facilities. two written under last these did partial Just see March, of our funds for in as our
let And you you next context, that. and the of give detail. side for some does give a give well the couple quite again, will convinced our equation, just good of current of very in me financial Craig confidence more expectations the performance cost The We're in quarters. that The outlook. hand. first sketch the we In quick situation quarter have in us of the
And high premiums, Just came so to on of level, EBITDA $XX a that of decline a to right $XX million a revenue revenue of at lower if QX the million. from take look, was goes chance line. course, a fall quick bottom had most higher you've sequentially in that
to cash earnings of saw conversion also flow. We very good
cost the recent results the these in talked improvement place recent The realized we additional first the actions. were the were I in actions, in put raw Again, results before just produced about, in by and the we structure decline before cost place quarter the reduction March. prices before were had material
price the QX. usual, on detail will I'm other provide quarter-to-quarter impact QX Obviously, sequential talking some of on Craig EBITDA. As to forecast you commodity and factors not changes
current know, based positive the QX. i.e., analysis, for see good of cash revenues breakeven As essentially point, EBITDA And for got on flow already you visibility. most are our QX, decent and cost inputs at so this and we've key this priced you'll quarter,
a When you obviously can the structure we for down operating a half plant see the second operating an $XXX a average The declined, cost have cost in showed February does, also February operating already as LME XXXX cost our costs build will the operating you level. he cash you February. in also the levels showed is costs so well as was a from $XXX estimates. further over ton premiums down estimates. $XXX the comparable update of the give And so down the your recall, you just from we on year, from Craig direct ton you you'll ton
ton flow down a to $X,XXX further breakeven this level a brought All a $XXX our has ton. around cash
this reminder, LME direct metric. a also As comparable a is
Backing so the level $XXX cetera, up, million And liquidity. forth. as so costs, given LME debt and cash prices is all here service cetera. So and current flow of in net it breakeven raw flow as movements, material shows et taxes, over et CapEx, reminder, we what working cash company items, we've maintained at premiums all capital this define a again,
position good be this we you'll to So to we're very see why believe able a environment. through operate in
And to for on with some comments additional Pete? that, industry Pete the I'll give structure. you
