Boise Cascade, L.L.C.

Good morning. My name is Jason and I will be your conference facilitator today. At this time, I would like to welcome everyone to Boise Cascades first quarter 2026 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 Forey, Senior Vice President of Finance and Investor Relations. Mr. Forey, you may begin your conference.

Thank you, Jason, and good morning, everyone. I'd like to welcome you to Boise Cascades first quarter 2026 earnings call and business update. Joining me on today's call are Jeff Strump, our CEO, Kelly Hibbs, our CFO, Joe Barney, leader of our building materials distribution operations, and Troy Little, leader of our wood products 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 Jeff. Thanks, Chris.

Good morning, everyone, and thank you for joining us for this call. I'm on slide three. As I step into the role of CEO, I want to express my deep confidence in our company, our talented people, and our established direction. We have a strong foundation and a proven strategy that has positioned us well in the marketplace, and I'm committed to building on that momentum. My thanks to our outstanding team whose dedication, expertise, and commitment to our customer and supplier partners are what drive our continued success. I'm excited to lead us forward, focused on delivering sustained value for all of our stakeholders. Now let me turn to our first quarter results. Total U.S. housing starts increased 1% compared to the prior year quarter. However, single-family housing starts were off 5% for the same comparative period. Our consolidated first quarter sales of $1.5 billion were down 2% from first quarter of 2025. Our net income was $17.8 million, or $0.50 per share, compared to net income of $40.3 million, or $1.06 per share, in the year-ago quarter. Our business has delivered solid results for the quarter, despite continued demand uncertainty resulting from geopolitical events volatile mortgage rates, and severe weather. The challenges of consumer sentiment and home affordability remain the most significant headwinds for residential construction activity. In this environment, we're continuing to leverage our integrated model, which consistently demonstrates its value and resilience, particularly in challenging market conditions like these. As a follow-up to our previously disclosed legal matter that was resolved last week, This was a legacy issue involving certain hardwood plywood purchases made at a single distribution facility in Pompano, Florida between 2017 and 2021. We bought the wood from a former U.S.-based supplier that improperly imported the products. We were not involved in creating or operating the supplier's scheme, but we did not follow some of our own internal processes that would have prevented us from making these purchases. We've taken responsibility for that and have strengthened our processes to prevent this from happening again. Kelly will now walk through our segment financial results, capital allocation priorities, and second quarter guidance, after which I'll provide insights on our business outlook and make closing comments before we open the call for questions. Kelly.