Boise Cascade, L.L.C.

At this time, I would like to welcome everyone to Boise Cascade's first quarter 2025 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 begin your conference.

Thank you, Rivka, and good morning, everyone. I'd like to welcome you to Boise Cascades first quarter 2025 earnings call and business update. Joining me on today's call are Nate Jorgensen, our CEO, Jeff Strum, our COO, Kelly Hibbs, our CFO, Troy Little, head of our wood products operations, and Joe Barney, head of our building materials 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 of the SEC regarding the risks associated with these forward-looking statements. Also, please note that the appendix includes reconciliations from our gap 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 earnings call today. I'm on slide number three. Total U.S. housing starts and single-family housing starts decreased 2% and 6%, respectively, compared to the prior year quarter. Our consolidated first quarter sales of $1.5 billion were down 7% from first quarter of 2024. Our net income was $40.3 million, or $1.06 per share, compared to net income of $104.1 million, or $2.61 per share in the year-ago quarter. Our team delivered solid results during the quarter when considering an environment influenced by constrained demand, uncertain trade policies, and difficult weather. Homebuyer affordability challenges continue to affect demand, and we were compounded by increasing economic uncertainty that has led us to lower consumer and builder confidence. Despite the backdrop, our associates across the company remain clearly focused on delivering value to our customer and vendor partners, for which I'm incredibly grateful. In addition, the planned outage at our Oakdale, Louisiana plywood and veneer facility bill negatively impacted our first quarter results. The significant modernization products underway there are on schedule to be completed at the end of the second quarter and will contribute to the ongoing strength of our EWP franchise. Lastly, our clear focus on strategic investments and returns of capital to our shareholders is bolstered by the strength of our balance sheet and our constructive view on long-term demand drivers for residential construction. Kelly will now walk through our financial segment results and provide an update on our capital allocation priorities, after which I'll provide an outlook before we take your questions. Kelly?