Group 1 - The article discusses a significant downturn in the market, characterized as one of the steepest in history, driven by high valuations and trade uncertainties [1] - There is an emphasis on the unpredictability of trade impacts, highlighting concerns about the extent of potential negative outcomes [1] Group 2 - The content does not provide specific company or industry insights, focusing instead on general market conditions and analyst disclosures [2]

Financial Performance - The company's total shareholder return was 347% in the five years ending December 2024[4] - The company's last twelve months (LTM) revenue was $6.6 billion[4] - The company's revenue compound annual growth rate (CAGR) from 2019 to LTM is 7%[4] - The Wood Products division's LTM revenue was $1.78 billion with a 15.1% LTM EBITDA margin, up from 8.8% in 2019[40] - The Building Materials Distribution (BMD) division's LTM revenue was $6.1 billion, with an 8.8% CAGR from IPO in 2013 to LTM[49] Capital Allocation and Share Growth - The company has invested $1.58 billion in the company via M&A/Capex and $1.35 billion in shareholder returns since 2019[4] - The company's sales per housing start have grown at a 5% CAGR[32] - The company's laminated veneer lumber (LVL) market share is 40% of industry production, and I-joist market share is 37% of industry production[41] Market Position and Strategy - Independent pro dealers account for 49% of the company's customer segments[36] - Engineered Wood Products (EWP) account for 62% of the Wood Products division's LTM sales[41] - General line products account for 43% of the Building Materials Distribution (BMD) division's LTM sales[50]

It has been about a month since the last earnings report for Boise Cascade (BCC) . Shares have added about 0.1% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Boise Cascade due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.How Have Estimates Been Moving Since Then?I ...

Core Insights - Medicus Pharma Ltd. has received approval from the UAE Department of Health to commence a Phase 2 clinical study (SKNJCT-004) for the non-invasive treatment of Basal Cell Carcinoma (BCC) of the skin [1][2] - The study will involve 36 participants across four clinical sites in the UAE, including Cleveland Clinic Abu Dhabi [2][3] - The clinical trial is designed as a randomized, double-blind, placebo-controlled study to evaluate the efficacy of two dose levels of D-MNA compared to a placebo [3][4] Clinical Study Details - The SKNJCT-004 study will randomize participants into three groups: a placebo group, a low-dose group receiving 100μg of D-MNA, and a high-dose group receiving 200μg of D-MNA [3] - The high-dose of 200μg D-MNA is the maximum dose used in the previous Phase 1 study (SKNJCT-001), which met its primary objective of safety and tolerability [4][5] - In the Phase 1 study, D-MNA was well tolerated with no serious adverse events, and six participants achieved complete responses [5] Ongoing and Future Studies - The company is also conducting the SKNJCT-003 Phase 2 clinical study in the United States, which began randomizing patients in August 2024 and has shown a positive interim analysis with over 60% clinical clearance [6][7] - The number of participants in the SKNJCT-003 study has been increased to 90, and the company is expanding clinical trial sites in Europe [7] Strategic Developments - Medicus Pharma has entered into a binding letter of intent to acquire Antev Ltd., a UK-based biotech company developing a next-generation GnRH antagonist for prostate cancer patients [8][11] - The acquisition is subject to due diligence and regulatory approvals, with no guarantees on the completion of the transaction [11] Company Overview - Medicus Pharma Ltd. is focused on accelerating the clinical development of novel therapeutics and has a subsidiary, SkinJect Inc., dedicated to non-invasive treatments for basal cell skin cancer [9][10]

Core Viewpoint - Boise Cascade Company (BCC) reported mixed first-quarter 2025 results, with earnings missing estimates while sales exceeded expectations, reflecting a decline in both metrics year-over-year due to lower selling prices and sales volumes, alongside operational challenges [1][3]. Financial Performance - Adjusted earnings per share (EPS) for Q1 2025 were $1.06, missing the Zacks Consensus Estimate of $1.36 by 22.1%, and down from $2.61 in the same quarter last year [3]. - Quarterly sales reached $1.54 billion, surpassing the consensus mark of $1.45 billion by 5.7%, but decreased by 7% year-over-year [3]. - Adjusted EBITDA was $91.6 million, a significant decline of 46% from the prior-year quarter [3]. Segment Analysis - **Wood Products**: Sales totaled $415.8 million, down 11% year-over-year due to lower engineered wood products and sales prices. Adjusted EBITDA fell to $40.2 million, down 11% from $95.6 million a year ago [4]. - **Building Materials Distribution (BMD)**: Sales decreased by 7% year-over-year to $1.41 billion, attributed to lower plywood sales prices and reduced sales volumes. Adjusted EBITDA dropped 25% year-over-year to $62.8 million [5]. Liquidity and Debt - As of March 31, 2025, total liquidity was $957.5 million, down from $1.109 billion at the end of 2024, with cash and cash equivalents at $561.8 million [6]. - Net long-term debt slightly increased to $446.4 million from $446.2 million at the end of 2024 [6]. Share Repurchase Activity - In Q1 2025, the company repurchased 482,700 shares for a total value of $53.9 million, followed by an additional repurchase of 179,445 shares for approximately $17 million in April 2025 [7][8]. Market Outlook - The company plans to remain flexible in response to evolving market conditions in the second quarter, supported by a strong balance sheet for continued investments in residential construction trends [2].

Financial Data and Key Metrics Changes - Consolidated first quarter sales were $1.5 billion, down 7% from Q1 2024 [7] - Net income was $40.3 million or $1.06 per share, compared to $104.1 million or $2.61 per share in the prior year quarter [7] - Wood Products sales were $415.8 million, down 11% year-over-year [9] - Wood Products segment EBITDA decreased to $40.2 million from $95.6 million in the previous year [9] - BMD sales were $1.4 billion, down 7% from Q1 2024, with segment EBITDA of $62.8 million compared to $83.6 million [10] Business Line Data and Key Metrics Changes - Wood Products segment saw lower EWP and plywood sales prices and volumes, with a significant impact from the Oakdale outage [9] - BMD's gross margin was 14.7%, a decline of 40 basis points year-over-year [10] - LVL and I joists volumes were down 3%, better than the 6% decline in single-family housing starts [10] - Plywood sales volume was 363 million feet, down from 372 million feet in Q1 2024 [11] Market Data and Key Metrics Changes - U.S. housing starts decreased 26% year-over-year, impacting demand [7] - Daily sales pace in BMD improved in April, approximately 13% higher than Q1 2025 [15] - Weather significantly influenced sales activity, with January and February below $21.5 million daily, rebounding in March [12] Company Strategy and Development Direction - The company is focused on strategic investments and capital returns to shareholders, supported by a strong balance sheet [8] - Continued emphasis on two-step distribution model to support customer inventory management [26] - Ongoing modernization projects at Oakdale are expected to enhance EWP production capabilities [17] Management's Comments on Operating Environment and Future Outlook - The management expressed uncertainty regarding 2025 end market demand, with forecasts ranging from flat to mid-single digit declines [21] - Long-term demand drivers remain strong, characterized by housing undersupply and aging housing stock [22] - The company remains agile and prepared to respond to economic changes while focusing on customer service [22] Other Important Information - Capital expenditures in Q1 were $53 million, with a range of $220 million to $240 million expected for 2025 [17] - The company repurchased $71 million of common stock in the first four months of 2025 [19] - The Oakdale facility is expected to be fully operational by the end of Q2 2025 [17] Q&A Session Summary Question: Thoughts on general line side of the business and inventory positions - Management noted that customers are relying on two-step distribution for inventory management and new product introductions [26] Question: Update on Oakdale project and ramp-up - The Oakdale facility is expected to shift veneer back into EWP production as it comes back online [29] Question: Capital allocation priorities and M&A pipeline - Management indicated a quiet M&A pipeline but remains open to opportunities while focusing on organic growth and share repurchases [30] Question: EWP pricing expectations for Q2 - Management expects low single-digit sequential pricing declines, with competitive pressures remaining [40] Question: Competitive pressures in EWP - Competitive challenges are primarily from existing EWP producers rather than dimensional lumber or open web trusses [52] Question: Impact of recent transactions in the industry - Management emphasized the importance of executing at a high level amidst ongoing industry consolidation [82]

Financial Data and Key Metrics Changes - Consolidated first quarter sales were $1.5 billion, down 7% from Q1 2024 [6] - Net income was $40.3 million or $1.06 per share, compared to $104.1 million or $2.61 per share in the prior year quarter [6] - Wood Products sales were $415.8 million, down 11% year-over-year [8] - BMD sales were $1.4 billion, down 7% from Q1 2024 [9] - Overall EBITDA for Wood Products was $40.2 million, significantly lower than $95.6 million in the previous year [8] Business Line Data and Key Metrics Changes - Wood Products segment EBITDA decreased primarily due to lower EWP and plywood sales prices and volumes [8] - BMD's gross margin was 14.7%, a decline of 40 basis points year-over-year [10] - EWP volumes were down 3%, which was better than the 6% decline in single-family housing starts [10] - Plywood sales volume was 363 million feet, down from 372 million feet in Q1 2024 [11] Market Data and Key Metrics Changes - U.S. housing starts decreased by 26% year-over-year, impacting demand [6] - Daily sales pace in BMD improved in March, exceeding $24 million per day [12] - April's daily sales pace was approximately 13% higher than Q1 2025, indicating a rebound in demand [15] Company Strategy and Development Direction - The company is focused on strategic investments and returning capital to shareholders, supported by a strong balance sheet [7] - Capital expenditures for 2025 are projected between $220 million and $240 million, with significant investments in EWP production capabilities [16] - The company is prepared to respond to economic changes while maintaining a focus on long-term demand drivers in residential construction [20] Management's Comments on Operating Environment and Future Outlook - Management noted that 2025 end market demand expectations are difficult to predict, with forecasts ranging from flat to mid-single-digit declines [20] - The company remains confident in its ability to execute across all market conditions, emphasizing the strength of its team [21] - Long-term demand drivers remain strong, characterized by an undersupply of housing units and aging housing stock [22] Other Important Information - The Oakdale facility's modernization is expected to be completed by the end of Q2, which will enhance EWP production [7] - The company repurchased $71 million of common stock in the first four months of 2025 [18] - A quarterly dividend of $10 million was paid during the quarter, with plans for future dividends [17] Q&A Session Summary Question: Thoughts on general line side of the business and inventory positions - Management noted that customers are relying heavily on two-step distribution for inventory management and just-in-time services [25] Question: Update on the Oakdale project and macro environment - The Oakdale facility is expected to resume operations, with veneer supply shifting back to EWP production [29] Question: Capital allocation priorities and M&A pipeline - Management indicated a quiet M&A pipeline but remains open to opportunities that align with growth strategy [30] Question: EWP pricing expectations for Q2 - Management expects low single-digit sequential pricing declines, similar to Q1 [38] Question: Competitive pressures in EWP - Competitive challenges are primarily from existing EWP producers rather than dimensional lumber or open web trusses [49] Question: Update on LVL volumes and share gains - LVL volumes are starting to outpace production, indicating a positive trend [62] Question: Inventory levels and market conditions - Management feels confident about inventory levels, which are aligned with market demands [76] Question: Impact of recent transactions in the industry - Management believes they are well-positioned amidst ongoing industry consolidation and will focus on high-level execution [78]

Financial Performance - Boise Cascade's Q1 2025 sales were $1.5 billion, a decrease of 7% compared to Q1 2024[4] - Net income for Q1 2025 was $40.3 million, or $1.06 per share, significantly lower than the $104.1 million, or $2.61 per share, in Q1 2024[4] - Adjusted EBITDA decreased by 46%, from $168.5 million in 1Q 2024 to $91.6 million in 1Q 2025[6] Segment Performance - Building Materials Distribution (BMD) sales were $1.4071 billion in 1Q 2025, down from $1.505 billion in 1Q 2024[6] - Wood Products sales were $415.8 million in 1Q 2025, down from $468.9 million in 1Q 2024[6] - BMD segment EBITDA was $62.8 million in 1Q25, compared to $83.6 million in 1Q24[28] - Wood Products segment EBITDA was $40.2 million in 1Q25, compared to $95.6 million in 1Q24[28] Capital Allocation - Capital expenditures totaled $53 million in 1Q 2025, with $31 million allocated to Wood Products and $22 million to BMD[23] - Share repurchases amounted to $54 million in 1Q 2025, with a total of $71 million repurchased year-to-date through April[23] - $10 million in dividends were paid in 1Q 2025[23] Outlook - The company anticipates that most housing starts forecasts ranging between flat to mid-single digit year-over-year declines[24]

分组1 - Boise Cascade reported quarterly earnings of $1.06 per share, missing the Zacks Consensus Estimate of $1.36 per share, and down from $2.61 per share a year ago, representing an earnings surprise of -22.06% [1] - The company posted revenues of $1.54 billion for the quarter, surpassing the Zacks Consensus Estimate by 5.67%, but down from $1.65 billion year-over-year [2] - Over the last four quarters, Boise Cascade has surpassed consensus revenue estimates four times, but has only exceeded EPS estimates once [2] 分组2 - The stock has underperformed, losing about 19.1% since the beginning of the year, compared to the S&P 500's decline of -3.3% [3] - The current consensus EPS estimate for the coming quarter is $2.29 on revenues of $1.81 billion, and for the current fiscal year, it is $7.97 on revenues of $6.54 billion [7] - The Zacks Industry Rank for Building Products - Wood is currently in the bottom 24% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35805 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | ...