Exceeded expectations. Blue Creek marks an inflection point in profitability, with quarterly free cash flow of $103 million. Sales volume of 3.7 million short tons was up 65% YoY, adjusted EBITDA of $157 million was up 193% YoY, and cash costs of $93/ton were down 9% YoY. Blue Creek's ramp-up is proceeding smoothly, customer feedback has exceeded expectations, full-year sales volume guidance has been raised to 5 million short tons with 90% already contracted, and market share is increasing. Raised full-year sales volume and production guidance by 0.5 million short tons. Risks: 2H prices are expected to be lower than 1H, with weak secondary indices and high freight rates constraining realizations.