Boise Cascade, L.L.C.

Good morning. My name is Felicia Crabtree, and I will be your conference facilitator today. At this time, I would like to welcome everyone to Boise Cascades second quarter 2024 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 Chris Forey, Vice President, Finance and Investor Relations, Boise Cascade. Mr. Forey, you may now begin your conference.

Thank you, Felicia, and good morning, everyone. I'd like to welcome you to Boise Cascade's second quarter 2024 earnings call and business update. Joining me on today's call are Nate Jorgensen, our CEO, Kelly Hibbs, our CFO and Treasurer, Troy Little, head of our wood products operations, and Jeff Strum, head of our building material distribution operations. Turning to slide two, this call will contain forward-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, Chris.

Good morning, everyone. Thank you for joining us for our earnings call today. I'm on slide number three. Total U.S. housing starts decreased 70% driven by lower multifamily starts as single family housing starts increased 7% compared to the prior year quarter. Our consolidated second quarter sales of $1.8 billion were down 1% from second quarter 2023. Our net income was $112.3 million, or $2.84 per share, compared to net income of $146.3 million, or $3.67 per share in the year-ago quarter. Both of our businesses delivered strong financial results during the quarter while operating in a somewhat tepid demand environment influenced by elevated mortgage rates and economic uncertainties. In addition, spending on our organic growth projects progressed as expected, and we continue to demonstrate that our returning capital to our shareholders is an important part of our capital deployment strategy. I want to thank our associates across the company who continue to deliver superior value to our customer and vendor partners as we navigate uncertainties posed by the current demand environment. Kelly will now walk through our segment financial results, give some insights on third quarter, and then provide an update on our capital allocation in more detail, after which I'll provide an outlook before we take your questions. Kelly?