Boise Cascade, L.L.C.

Good morning, my name is Steve and I'll be your conference facilitator today. At this time, I would like to welcome everyone to Boise's Cascade third quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Chris Foray, Vice President, Finance and Investor Relations. Mr. Foray, you may begin your conference.

Thank you, Steve, and good morning, everyone. We'd like to welcome you to Boise Cascade's third 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 with 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 or loss to segment EBITDA. I will now turn the call over to Nate.

Thanks, Chris. Good morning, everyone. Thank you for joining us on our earnings call today. I'm on slide number three. September 2025, U.S. housing starts data has not been released by the U.S. Census Bureau. However, when comparing July 2025 and August 2025 housing starts at same periods in 24, total U.S. housing starts increased 2%, while single family housing starts decreased 3%. Our consolidated third quarter sales of 1.7 billion were down 3% from third quarter 2024. Our net income was 21.8 million, or 58 cents per share, compared to a net income of $91 million, $2.33 per share, and a year ago quarter. As expected, in wood products, we experienced sequentially lower sales volumes and competitive pricing pressure in EWP. Flywood markets, like other commodities, continue to experience weak pricing given the underlying demand environment. In BMD, our customers' expanded reliance on us for next-day delivery service across a range of products helped to mitigate the otherwise subdued environment. Given this backdrop, we were still able to post good earnings for the third quarter. We have great clarity in our business model and the strength of our financial position and unwavering commitment to our core values enable us to remain focused on the execution of our strategic priorities. Our two-step distribution model, in tandem with our market-leading EWP and plywood franchises, will continue to deliver exceptional value to both our customers and vendor partners, providing reliable access to products, responsive service, and operational flexibility that are vital in dynamic markets. Kelly will now walk through our segment financial results, capital allocation priorities, and guidance on our fourth quarter results, after which I'll make closing comments before we take our questions. Kelly?