Ladies and gentlemen, thank you for standing by, and welcome to the Advanced Emissions Solutions Q1 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. I would now like to turn the call over to Ryan Coleman, Investor Relations. Please go ahead.

Thank you. Good morning everyone and thanks for joining us today for the first quarter 2020 earnings results call. With me on the call this morning are Heath Sampson, President and Chief Executive Officer; and Greg Marken, Chief Financial Officer. This call is being webcast live in the Investor section of the website and a downloadable version of today's presentation is available there as well. A webcast replay will also be available on the site and you can contact Alpha IR Group for Investor Relations support at 312-445-2870.Let me remind you that the presentation and remarks made today include forward-looking statements as defined in Section 21E of the Securities and Exchange Act. These statements are based on information currently available to us and involve risks and uncertainties that could cause actual future results, performance, and business prospects and opportunities to differ materially from those expressed in or implied by these statements. These risks and uncertainties include, but are not limited to the factors identified on Slide 2 of today's slide presentation, in our Form 10-Q for the quarter ended March 31, 2020, and other filings with the Securities and Exchange Commission.Except as expressly required by the securities laws, the company undertakes no obligation to update those factors or any forward-looking statements to reflect future events, developments, or changed circumstances or for any other reason. In addition, it is very important to review the presentation and today's remarks in conjunction with the GAAP references in the financial statements. So with that, I'd turn the call over to Heath Sampson. Heath?

Thanks Ryan and thanks to everyone for joining us this morning. I would like to begin by extending my well wishes to you all. I hope you are all safe and healthy. Obviously we are operating in a different world than we have been just two short months ago when we held our fourth quarter earnings call. That rapid change has required a swift response and Greg will cover the actions we have taken as a company in a few minutes.Let's move on to Slide 3 and review our first quarter. Within our refined coal segment, distributions from Tinuum fell 12% compared to the first quarter of 2019. The decline was driven by significant decreases in coal fired power generation over the past year, which resulted in restructuring, lease contracts between Tinuum and its largest customer, and the closure of two utilities that Tinuum had refined coal facilities at all of which we initially discussed on the 2019 third quarter call.Data provided by the EIA indicates that coal fired power dispatch in the first quarter of 2020 was down approximately 33% compared to the first three months of 2019. We expect additional headwinds due to poor coal for power generation to continue in 2020, along with decreases in aggregate energy demand brought about by the business shutdowns related to the pandemic. However, as we stated on our fourth quarter call, we continue to have line of sight into at least one additional refined coal closure in 2020, though the timing is difficult to determine given the current environment.Royalties were also lower due to increased depreciation and lower rent payments to Tinuum. Our RC segment adjusted EBITDA was down 15% compared to last year. This is the first quarter we have highlighted this metric and we plan to continue to include…

Thank you Heath. Let's start on Slide 4 as we discuss our responses to the current environment we all find ourselves in. Our first priority is and always will be the health and safety of our employees. We took proactive measures to protect our team which included updating safe workplace protocols and offering work from home options where possible. For those team members that continued to work out of our physical locations, we undertook enhanced sanitation and cleaning measures, as well as social distancing guidelines in accordance with CDC guidelines. To date, we've had no known cases across our facilities and we'll continue to follow best practices that emerge over the rest of the year to protect our people.In addition to increasing our focus on safety, we've also taken steps to ensure business continuity. We support our country's electrical power plants and municipal water facilities which are obviously critical and essential services. We remain in ongoing contact with them to best understand how to service their needs amidst changing market conditions. This includes taking internal actions to protect our integrated supply chain and ensure a reliable supply of feedstock for uninterrupted supply of or activated carbon products. As part of this effort, we sequester a portion of our onsite workforce at our Red River plant in Louisiana, which allowed that workforce to continue to operate our manufacturing capabilities and produce inventory sooner than we may have planned to ensure that we could provide product to our customers in case we were to experience an event that broadly impacted our workforce.And finally, we bolstered our financial flexibility through a series of actions made both late in Q1, as well as thus far in Q2. We began by evaluating all non-core spending and by re-evaluating our short-term capital allocation plans. First, in…

Thanks again everyone for joining the call this morning. We're all living through uncertain times and I truly hope you're all staying safe and healthy. While we have challenges to navigate, we retain a potentially strong cash generating segment in our RC business and a longer-term growth potential in our activated carbon and other consumables and technology platform. We have the financial foundation and the tools to navigate this pandemic and win in the future and we're looking forward to brighter days ahead. Have a great day.

This concludes today's conference call, you may now disconnect.