Boise Cascade, L.L.C.

Good morning. My name is Chris, and I will be your conference facilitator today. At this time, I would like to welcome everyone to Boise Cascade's third quarter 2023 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer period. It is now my pleasure to introduce you to Kelly Hibbs, Senior Vice President, CFO, and Treasurer of Boise Cascade. Mr. Hibbs, You may begin your conference.

Thank you, Chris, and good morning, everyone. I would like to welcome you to Boise Cascades third quarter 2023 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 Jeff Strum, head of our building materials distribution operations. Turning to slide two, this call will contain four looking statements. Please review the warning statements in our press release on the presentation slides and in our filings with the SEC regarding the risks associated with these forward-looking statements. Also, please note that 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, Kelly. Good morning, everyone. Thank you for joining us on Ernie's call today. I'm on slide number three. Our consolidated third quarter sales of $1.8 billion were down 15% from third quarter 2022. Our net income was $143.1 million, or $3.58 per share, compared to net income of $219.6 million, or $5.52 per share in the year-ago quarter. Total U.S. housing starts declined 6%, driven by decrease in multifamily housing compared to prior year quarter. However, single-family housing starts increased 7% compared to the same period in 2022. Both of our businesses again delivered solid operating financial results. I want to thank our associates for their continued focus, hard work, and loyalty as we continue to navigate ongoing economic uncertainties. As recently announced, we completed the acquisition of Roscoe and I'm pleased to welcome their outstanding team to Boise Cascade. We will provide additional details on this transaction following the discussion of our financial results. Kelly will now walk through our segment financial results, provide an update on our capital allocation, and discuss the Brocco acquisition in more detail, after which I'll provide our outlook before we take your questions. Kelly?