Boise Cascade, L.L.C.

Good morning. My name is Valerie, and I will be your conference facilitator today. At this time, I would like to welcome everyone to Boise Cascades First Quarter 2020 Conference Call. All lines have to place on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer period. If you would like to ask a question during that time, simply press star and then the number one on your telephone keypad. Questions will be taken in the order they are received. If you would like to withdraw your questions, press the pound key. Before we begin, I remind you that this call may contain forward-looking statements about the company's future business prospects and anticipated financial performance. These things are not guaranteed of future performance, and the company undertakes no duty to update them. Although these statements reflect management's expectations today, they are subject to a number of business risks and uncertainties. Actual results may differ materially from those expressed and implied in this call. For a discussion of the factors that may cause actual results to differ from the results anticipated, please refer to Boise Cascades' recent filing with the SEC. It is now my pleasure to introduce you, Wayne Rancourt, Executive Vice President, CFO, and Treasurer, Boise Cascades. Mr. Rancourt, you may begin your conference.

Thank you, Valerie. Good morning, everyone. I would like to welcome you to Boise Cascades' first quarter 2020 earnings call and business update. Joining me on today's call are Nate Jorgensen, our CEO, Mike Brown, head of our wood products operations, and Nick Stokes, head of our building materials distribution operations. Turning to slide two, I would point out the information regarding our forward-looking statements. The appendix includes reconciliations from our GAAP net income to EBITDA and adjusted EBITDA and segment income to segment EBITDA. I will now turn the call over to Nate.

Thanks, Wayne. Good morning, everyone. Thank you for joining us on Ernie's call today. on slide number three. Our first quarter sales of 1.2 billion were up 12% from first quarter 2019. Our net income was 12.2 million or 31 cents per share compared to net income of 11.4 million or 29 cents per share in the year ago quarter. Reported net income for first quarter 2020 includes 15 million of pre-tax accelerated depreciation and 1.7 million of other closure related costs or 32 cents per share after tax due to the permanent containment of our iJoyce production at Roxborough, North Carolina facility. Our operating performance in both businesses was strong, demonstrating the strength of our integrated business model. Our wood products manufacturing business reported segment income of 3.8 million in the first quarter compared to 11.6 million in the year quarter. The first quarter of 2020 results include the Roxborough previously mentioned charges. Our building materials distribution business reported segment income of $29.3 million on quarterly sales of $1 billion for the first quarter compared to $17.5 million of segment income on quarterly sales of $908 million in the comparative year quarter. Wayne will walk through the financial results in more detail, then I'll come back to provide an update on ongoing response to COVID-19 impact on our businesses and our outlook before we take your questions. Wayne?