Western Forest Products Inc.

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Please stand by. Your conference is now ready to begin. Good afternoon, ladies and gentlemen, and welcome to Western Forest Products' first quarter 2023 results conference call. During this conference call, Western's representatives may make forward-looking statements within the meaning of applicable securities laws. These statements can be identified by words like anticipate, plan, estimate, will, and other references to future periods. Although these forward-looking statements reflect management's reasonable beliefs, expectations, and assumptions, they are subject to inerrant uncertainties and actual results may differ materially. There are many factors that could cause actual outcomes to be different, including those factors described under risks, and uncertainties in the company's annual MD&A, which can be accessed on CDAR and is supplemented by the company's quarterly MD&A. Forward-looking statements are based only on information currently available to Western and speak only as of the date on which they are made. Except as required by law, Western undertakes no obligation to update forward-looking statements. Accordingly, listeners should exercise caution in relying upon forward-looking statements. I would now like to turn the meeting over to Mr. Stephen Holfer, President and CEO of Western Forest Products. Mr. Holfer, please go ahead.

Thank you, Paul, and good afternoon, everyone. I'd like to welcome you to Western Forest Products' 2023 First Quarter Conference Call. Joining me on the call today is Stephen Williams, our Executive Vice President and Chief Financial Officer, and Glenn Nontel, our Vice President of Corporate Development. We issued our 2023 first quarter results yesterday. I will provide you with some introductory comments and then ask Steve to take you through our financial results. I'll then follow Steve's review with our outlook section before we open the call to your questions. The first quarter of 2023 continued to face a more challenging macro environment. Headwinds from interest rate increases and slowing growth are being felt throughout the economy. This has resulted in significantly weaker lumber demand and prices compared to the same time last year. Despite the more challenging environment, we continue to advance opportunities to position our business for long-term success. This has included a strong focus on our strategic priority of operational excellence throughout our business. Areas where we are focused on include renewing and solidifying our customer relationships, including growing our home center business, improving the performance and efficiency in our manufacturing and logistics operations, maximizing the value and recovery from every log, and advancing strategic capital investments to support value-added manufacturing. During the quarter, we saw progress with better on-time shipments to customers and greater consistency in our lumber shipments throughout each week of the quarter. In addition, we broke ground on our continuous kiln project at our salt air sawmill. This investment will support the production of more kiln-dried lumber products and will move our products further up the value chain to drive increased profitability over the long term. In support of maximizing value back to our logs, we launched an internal yellow cedar initiative, redirecting certain logs to our sawmills to produce kiln-dried products, including lamb stock. While it is still early days, we see potential long-term opportunities for the use of yellow cedar as a durable wood product for mass timber buildings and engineered wood exterior applications. We believe a strong focus on operational excellence and a mindset of continual improvement will benefit the performance of the business over the long term. We also continue to remain focused on other strategic priorities, including advancing collaborative forest planning activities and partnership opportunities with First Nations and growing our engineered wood products division. We remain focused on maintaining a strong balance sheet and continuing with our balanced approach to capital allocation. I will now turn it over to Steve to review our key financial results.