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Boise Cascade(BCC) - 2024 Q3 - Earnings Call Transcript
2024-11-05 17:34
Financial Data and Key Metrics Changes - Consolidated third quarter sales were $1.7 billion, down 7% from the third quarter of 2023 [5] - Net income was $91 million or $2.33 per share, compared to $143.1 million or $3.58 per share in the prior year quarter [5] - Wood Products sales were $453.9 million, down 12% year-over-year [7] - BMD sales were $1.6 billion, down 6% from the third quarter of 2023 [9] - Segment EBITDA for Wood Products was $77.4 million, down from $122.9 million in the previous year [8] - BMD reported segment EBITDA of $87.7 million, down from $104.9 million in the prior year [9] Business Line Data and Key Metrics Changes - Wood Products segment saw a decrease in sales primarily due to lower EWP and plywood sales prices and higher conversion costs [8] - I-joists sales volumes were down 8% year-over-year and 10% sequentially, influenced by housing starts and competition from other products [10] - Plywood sales volume was flat year-over-year at 391 million feet, but the average net sales price decreased by 13% year-over-year [12] - BMD's gross margin percentage was 15.7%, up 50 basis points year-over-year, reflecting growth in general line sales [15] Market Data and Key Metrics Changes - Total US housing starts decreased by 3% year-over-year, with single-family housing starts down 1% [5] - Single-family housing starts are outpacing 2023 levels by 10%, while multifamily starts have declined sharply [23] - Home affordability remains a challenge due to high home prices and financing costs, impacting the supply of existing housing stock [24] Company Strategy and Development Direction - The company continues to deploy capital through organic growth projects and returns to shareholders, with capital expenditures of $136 million in the first nine months of 2024 [18][19] - The company expects capital spending to be between $200 million and $220 million in 2025 [19] - The strategy includes ongoing investments in existing assets and the potential for M&A opportunities [21] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about medium to long-term housing fundamentals despite near-term uncertainties [26] - The company expects modest growth in home improvement spending in 2025 due to the aging housing stock and homeowner equity [25] - Management highlighted the importance of two-step distribution and the ability to pivot quickly in a volatile market [50] Other Important Information - The company paid $220 million in combined regular and special dividends during the nine months ended September 30, 2024 [19] - Share repurchases totaled approximately $165 million year-to-date, with an additional 1.4 million shares authorized for repurchase [20] Q&A Session Summary Question: Can you talk about the progression of sales in BMD during the quarter? - Management noted that daily sales pace was steady through the quarter, with September impacted by two fewer sales days [29] Question: What are you hearing from major customers in BMD regarding demand and inventory levels? - Customers are proceeding cautiously, with a focus on distribution in the current market [30] Question: How do you see EWP pricing correlating with lumber pricing? - Management indicated that EWP pricing is primarily driven by demand and operating rates rather than lumber prices [33] Question: Can you discuss the performance of the BROSCO business? - The BROSCO business has performed well, exceeding expectations [51] Question: What is the timeline for the Oakdale, Louisiana plant modernization? - The project will start this week with demolition, and the plant will operate at about 50% capacity during the first quarter [43] Question: How are you approaching inventories in your distribution business? - Management emphasized the need to balance inventory levels to serve customers while preparing for seasonal slowdowns [42]
Boise Cascade (BCC) Q3 Earnings Lag Estimates
ZACKS· 2024-11-05 00:20
Core Viewpoint - Boise Cascade reported quarterly earnings of $2.33 per share, missing the Zacks Consensus Estimate of $2.37 per share, and down from $3.58 per share a year ago, indicating an earnings surprise of -1.69% [1] - The company posted revenues of $1.71 billion for the quarter, surpassing the Zacks Consensus Estimate by 0.15%, but down from $1.83 billion year-over-year [2] Financial Performance - Over the last four quarters, Boise Cascade has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] - The current consensus EPS estimate for the upcoming quarter is $1.88 on revenues of $1.6 billion, and for the current fiscal year, it is $9.69 on revenues of $6.75 billion [7] Stock Performance - Boise Cascade shares have increased by approximately 3.8% since the beginning of the year, compared to the S&P 500's gain of 20.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Building Products - Wood industry, to which Boise Cascade belongs, is currently in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of Boise Cascade's stock may be influenced by the overall outlook for the industry [8]
Boise Cascade(BCC) - 2024 Q3 - Quarterly Report
2024-11-04 21:39
Financial Performance - Income from operations for Q3 2024 was $117.4 million, down from $185.6 million in Q3 2023, representing a decrease of 36.7%[112] - Total sales for Q3 2024 were $1,713.7 million, a decline from $1,834.4 million in Q3 2023, marking a decrease of 6.6%[119] - Total sales decreased by $120.7 million, or 7%, to $1,713.7 million for the three months ended September 30, 2024, compared to $1,834.4 million for the same period in 2023[124] - For the nine months ended September 30, 2024, total sales decreased by $37.2 million, or 1%, to $5,156.8 million compared to $5,194.0 million for the same period in the prior year[124] - Segment income for the nine months ended September 30, 2024, decreased by $75.1 million to $197.9 million from $273.0 million for the same period in 2023, primarily due to lower EWP and plywood sales prices and higher wood fiber and conversion costs[136] Segment Performance - In the Wood Products segment, income decreased by $45.7 million to $53.9 million due to lower engineered wood products (EWP) and plywood sales prices, as well as higher conversion costs[112] - The Building Materials Distribution (BMD) segment saw income decrease by $22.3 million to $74.8 million, driven by increased selling and distribution expenses and depreciation and amortization expenses of $10.0 million and $5.1 million, respectively[112] - Wood Products segment sales decreased by $61.3 million, or 12%, to $453.9 million for the three months ended September 30, 2024, driven by lower plywood sales prices of 13%[125] - Building Materials Distribution sales decreased by $102.8 million, or 6%, to $1,567.5 million for the three months ended September 30, 2024, with commodity sales down 12%[127] - Building Materials Distribution segment income decreased by $22.3 million to $74.8 million for the three months ended September 30, 2024, driven by increased selling and distribution expenses and a decrease in gross margin[137] Cost and Expenses - Material costs, labor, and other operating expenses (excluding depreciation) for Q3 2024 were $1,375.7 million, accounting for 80.3% of sales, compared to 78.6% in Q3 2023[119] - Depreciation and amortization expenses increased to $36.9 million in Q3 2024 from $31.5 million in Q3 2023[119] - Materials, labor, and other operating expenses decreased by $66.5 million, or 5%, to $1,375.7 million for the three months ended September 30, 2024[129] - Average composite panel prices were 19% lower for the three months ended September 30, 2024, compared to the same period in the prior year[124] - Average composite lumber prices decreased by 13% for the three months ended September 30, 2024, compared to the same period in the prior year[124] Cash Flow and Liquidity - Cash and cash equivalents at the end of Q3 2024 were $761.6 million, with total available liquidity of $1,157.3 million, while outstanding debt was $450.0 million[113] - For the nine months ended September 30, 2024, net cash provided by operations was $343.8 million, a decrease of $177.4 million compared to $521.1 million in the same period in 2023, primarily due to an increase in working capital[148] - The company used $135.8 million for purchases of property and equipment during the nine months ended September 30, 2024, compared to $99.3 million in the same period in 2023[150] - Financing activities used $391.6 million of cash during the nine months ended September 30, 2024, including $220.5 million in common stock dividend payments and $158.5 million for stock repurchases[153] - As of September 30, 2024, the company had $761.6 million in cash and cash equivalents and $450.0 million in debt, resulting in $1,157.3 million of available liquidity[143] Market Outlook - U.S. housing starts are forecasted to be approximately 1.35 million in 2024, down from 1.42 million in 2023, with single-family starts outpacing 2023 levels by 10%[114] - The company expects modest growth in home improvement spending in 2025, driven by the aging U.S. housing stock and elevated homeowner equity[114] Risks and Controls - The company faces risks related to commodity price fluctuations, economic conditions, and competition, which may impact future sales and profitability[116] - As of September 30, 2024, there have been no material changes in the company's exposure to market risk compared to the disclosures in the 2023 Form 10-K[165] - The company's disclosure controls and procedures were evaluated and deemed effective as of September 30, 2024, by the CEO and CFO[166] - There were no changes in the internal control over financial reporting during the three months ended September 30, 2024, that materially affected the reporting[167] - The company is involved in legal proceedings typical of its business operations, but does not anticipate any material adverse effects on its financial position[169] - The company uses a threshold of $1 million for disclosing environmental proceedings as per SEC regulations[170] Tax and Interest - Interest income decreased by $3.6 million to $10.2 million for the three months ended September 30, 2024, compared to $13.8 million for the same period in 2023, primarily due to lower average balances of cash equivalents[140] - The effective income tax rate for the nine months ended September 30, 2024, was 24.8%, down from 25.4% for the same period in 2023[142] Capital Expenditures - The company expects capital expenditures in 2024 to total approximately $220 million to $240 million, focusing on business improvement and efficiency projects[151]
Boise Cascade(BCC) - 2024 Q3 - Quarterly Results
2024-11-04 21:26
[Third Quarter 2024 Financial Performance](index=1&type=section&id=Third%20Quarter%202024%20Financial%20Performance) Boise Cascade reported a decline in third-quarter 2024 financial results, with sales and net income decreasing significantly, while the CEO highlighted resilience in a moderate demand environment and ongoing strategic investments [Third Quarter 2024 Highlights](index=1&type=section&id=Third%20Quarter%202024%20Highlights) Boise Cascade reported a decline in its third-quarter 2024 financial results compared to the same period in 2023, with sales decreasing by 7% to $1.71 billion and net income falling by 36% to $91.0 million Consolidated Results Q3 2024 vs Q3 2023 (in millions, except per-share data) | Metric | 3Q 2024 | 3Q 2023 | % Change | | :--- | :--- | :--- | :--- | | Sales | $1,713.7 | $1,834.4 | (7)% | | Net Income | $91.0 | $143.1 | (36)% | | Net Income per common share - diluted | $2.33 | $3.58 | (35)% | | Adjusted EBITDA | $154.5 | $216.5 | (29)% | - The financial results were achieved in what the company described as a 'moderate demand environment'[3](index=3&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Nate Jorgensen credited the company's associates and its integrated business model for delivering good financial results despite a moderate demand environment, confirming progress on strategic investments and capital deployment - The CEO highlighted the company's ability to deliver good financial results due to the efforts of its associates and its unique business model combining engineered wood products (EWP) with a nationwide wholesale distribution network[3](index=3&type=chunk) - The company is continuing to advance its key strategic investment initiatives and deploy capital to shareholders[3](index=3&type=chunk) - Looking ahead, the company expects normal seasonality through the winter and is prepared to adjust to changes in customer and vendor demand[3](index=3&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) Both Wood Products and Building Materials Distribution segments experienced sales and income declines in Q3 2024, primarily due to lower prices and increased costs [Wood Products](index=2&type=section&id=Wood%20Products) The Wood Products segment experienced a 12% decrease in sales to $453.9 million and a 46% drop in segment income to $53.9 million in Q3 2024, driven by lower sales prices and reduced volumes Wood Products Segment Financials (in millions) | Metric | 3Q 2024 | 3Q 2023 | % Change | | :--- | :--- | :--- | :--- | | Sales | $453.9 | $515.2 | (12)% | | Segment Income | $53.9 | $99.6 | (46)% | Price and Volume Changes (Q3 2024 vs. Q3 2023) | Product | Average Net Selling Prices | Sales Volumes | | :--- | :--- | :--- | | LVL | (5)% | —% | | I-joists | (6)% | (8)% | | Plywood | (13)% | —% | - The decrease in segment income was attributed to lower EWP and plywood sales prices, higher conversion costs, and lower I-joist sales volumes[7](index=7&type=chunk) [Building Materials Distribution](index=2&type=section&id=Building%20Materials%20Distribution) The Building Materials Distribution (BMD) segment reported a 6% decrease in sales to **$1.57 billion** and a 23% decrease in segment income to **$74.8 million** for Q3 2024, driven by lower prices and increased expenses BMD Segment Financials (in millions) | Metric | 3Q 2024 | 3Q 2023 | % Change | | :--- | :--- | :--- | :--- | | Sales | $1,567.5 | $1,670.3 | (6)% | | Segment Income | $74.8 | $97.1 | (23)% | - The sales decrease was driven by a **6% decline in sales prices**, with sales volumes remaining flat year-over-year[8](index=8&type=chunk) - Excluding the BROSCO acquisition, sales would have decreased by **9%**[8](index=8&type=chunk) - By product line, commodity sales fell **12%** and EWP sales fell **14%**, while general line product sales increased by **4%**[8](index=8&type=chunk) - Segment income decreased due to a **$7.7 million reduction in gross margin** and increased selling, distribution, depreciation, and amortization expenses[9](index=9&type=chunk) [Financial Position and Capital Allocation](index=2&type=section&id=Financial%20Position%20and%20Capital%20Allocation) Boise Cascade maintains a strong liquidity position with substantial cash reserves and undrawn credit, while actively deploying capital through planned expenditures, dividends, and share repurchases [Balance Sheet and Liquidity](index=2&type=section&id=Balance%20Sheet%20and%20Liquidity) As of September 30, 2024, Boise Cascade maintained a strong liquidity position with **$1.16 billion** in total available liquidity, comprising **$761.6 million** in cash and **$395.7 million** in undrawn credit, against **$450.0 million** of outstanding debt Liquidity Position as of September 30, 2024 (in millions) | Component | Amount | | :--- | :--- | | Cash and cash equivalents | $761.6 | | Undrawn committed bank line | $395.7 | | **Total available liquidity** | **$1,157.3** | | Outstanding debt | $450.0 | [Capital Allocation](index=3&type=section&id=Capital%20Allocation) The company plans capital expenditures of $220-$240 million for 2024 and $200-$220 million for 2025, while actively returning capital to shareholders through dividends and share repurchases - Capital expenditure is projected to be between **$220 million and $240 million** in 2024, and between **$200 million and $220 million** in 2025[11](index=11&type=chunk) - A quarterly dividend of **$0.21 per share** was declared, payable on December 18, 2024[12](index=12&type=chunk) - The company repurchased **1,232,345 shares** for **$158.5 million** in the first nine months of 2024[13](index=13&type=chunk) - The board authorized an additional **1.4 million shares** for repurchase, leaving approximately **2 million shares** available under the program as of October 31, 2024[13](index=13&type=chunk) [Outlook](index=3&type=section&id=Outlook) The company's outlook is driven by residential construction trends and faces risks from commodity price volatility and rising input costs [Market Outlook](index=3&type=section&id=Market%20Outlook) The company's market outlook is tied to residential construction, with U.S. housing starts projected at 1.35 million in 2024 and 1.40 million in 2025, supported by demographics despite affordability challenges - Demand is primarily correlated with new residential construction, especially single-family housing starts[14](index=14&type=chunk) - Current industry forecasts for U.S. housing starts are approximately **1.35 million** in 2024 and modestly above **1.40 million** in 2025[14](index=14&type=chunk) - Home affordability remains a challenge, but large homebuilders are addressing it by reducing home sizes and offering mortgage rate buydowns[14](index=14&type=chunk) - Favorable demographic trends and low unemployment are expected to support demand[14](index=14&type=chunk) [Business Risks](index=3&type=section&id=Business%20Risks) The company faces significant business risks from commodity price volatility and rising input costs, which can lead to sales declines and margin compression in both its manufacturing and distribution segments - The company has sales and profitability exposure to declines in commodity product prices and rising input costs[15](index=15&type=chunk) - The distribution business faces margin pressure during periods of declining prices, which can negatively impact sales and profitability[15](index=15&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) The financial statements detail the company's Q3 2024 performance, balance sheet position, and cash flow activities, reflecting decreased sales and profitability alongside a strong liquidity profile [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For the third quarter of 2024, Boise Cascade generated sales of $1.71 billion, with income from operations at $117.4 million and net income at $91.0 million, representing a significant decrease from the prior-year quarter Q3 Consolidated Statements of Operations Highlights (in millions) | Line Item | 3Q 2024 | 3Q 2023 | | :--- | :--- | :--- | | Sales | $1,713.7 | $1,834.4 | | Income from operations | $117.4 | $185.6 | | Net income | $91.0 | $143.1 | [Consolidated Balance Sheets](index=9&type=section&id=Consolidated%20Balance%20Sheets) As of September 30, 2024, the company's balance sheet showed total assets of $3.44 billion, with cash and cash equivalents at $761.6 million, total liabilities at $1.32 billion, and total stockholders' equity at $2.12 billion Balance Sheet Highlights (in millions) | Line Item | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $761.6 | $949.6 | | Total current assets | $2,012.2 | $2,056.8 | | Total assets | $3,441.6 | $3,458.6 | | Total current liabilities | $643.2 | $594.1 | | Total stockholders' equity | $2,123.4 | $2,195.7 | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2024, net cash provided by operations was $343.8 million, while net cash used for financing activities significantly increased to $391.6 million, resulting in a net decrease in cash of $188.0 million Nine Months Ended Sep 30 Cash Flow Highlights (in millions) | Line Item | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operations | $343.8 | $521.1 | | Net cash used for investment | ($140.1) | ($96.8) | | Net cash used for financing | ($391.6) | ($149.7) | | Net (decrease) increase in cash | ($188.0) | $274.6 | [Supplemental Information](index=6&type=section&id=Supplemental%20Information) This section provides detailed segment-level financial data and reconciliations of non-GAAP measures like Adjusted EBITDA to GAAP net income [Segment Information](index=6&type=section&id=Segment%20Information) In Q3 2024, the Wood Products segment generated sales of $453.9 million and income of $53.9 million, while the Building Materials Distribution segment had sales of $1.57 billion and income of $74.8 million Q3 2024 Segment Sales and Income (in millions) | Segment | Sales | Income | | :--- | :--- | :--- | | Wood Products | $453.9 | $53.9 | | Building Materials Distribution | $1,567.5 | $74.8 | | **Total Segment Income** | **-** | **$128.7** | [Reconciliation of Non-GAAP Measures](index=12&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) The company provides a reconciliation from GAAP Net Income to non-GAAP measures EBITDA and Adjusted EBITDA, showing Net Income of $91.0 million reconciled to an Adjusted EBITDA of $154.5 million for Q3 2024 Reconciliation of Net Income to Adjusted EBITDA (in millions) | Line Item | 3Q 2024 | 3Q 2023 | | :--- | :--- | :--- | | Net income | $91.0 | $143.1 | | Interest, Taxes, D&A | $62.6 | $73.1 | | EBITDA | $153.6 | $216.1 | | Change in fair value of interest rate swaps | $0.9 | $0.3 | | **Adjusted EBITDA** | **$154.5** | **$216.5** | Segment EBITDA (in millions) | Segment | 3Q 2024 | 3Q 2023 | | :--- | :--- | :--- | | Wood Products EBITDA | $77.4 | $122.9 | | Building Materials Distribution EBITDA | $87.7 | $104.9 |
Earnings Preview: Boise Cascade (BCC) Q3 Earnings Expected to Decline
ZACKS· 2024-10-28 15:06
Core Viewpoint - The market anticipates a year-over-year decline in Boise Cascade's earnings due to lower revenues, with the actual results being crucial for stock price movement [1][2]. Earnings Expectations - Boise Cascade is expected to report quarterly earnings of $2.37 per share, reflecting a year-over-year decrease of 33.8% [3]. - Revenues are projected to be $1.71 billion, down 6.7% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 3.3% higher in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the potential deviation from the consensus estimate, with positive readings being more predictive of earnings beats [6][7]. - A positive Earnings ESP combined with a Zacks Rank of 1, 2, or 3 has shown a nearly 70% success rate for positive surprises [8]. Historical Performance - In the last reported quarter, Boise Cascade exceeded the expected earnings of $2.65 per share, achieving $2.84, which was a surprise of +7.17% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Conclusion - While Boise Cascade does not appear to be a strong candidate for an earnings beat, investors should consider other influencing factors before making investment decisions [16].
Should You Steer Clear of BCC Stock on Gloomy Near-Term Prospects?
ZACKS· 2024-09-03 15:41
Core Viewpoint - Boise Cascade Company (BCC) has outperformed the Zacks Building Products - Wood industry in the past three months, gaining 2.6% compared to the industry's 0.5% decline, but faces challenges from softer housing demand, increased costs, and pricing fluctuations that may hinder future stock performance [1][3]. Summary by Category Stock Performance - BCC's shares have increased by 2.6% over the last three months, contrasting with a 0.5% decline in the industry [1]. - The company's earnings estimates for 2024 have decreased from $10.41 to $9.76 per share, reflecting a 19.5% decline year-over-year [3]. Housing Market Trends - The demand for BCC's products is closely tied to new residential construction and repair activities, which are currently affected by lower multi-family housing starts compared to single-family starts [5]. - Economic uncertainties and high mortgage rates are contributing to a weaker demand environment for BCC's products [5]. Pricing and Cost Challenges - BCC is experiencing pricing pressures, particularly in engineered wood products, with prices for I-joists and laminated veneer lumber declining by 3% and 2% respectively in Q2 2024 [6]. - The company's costs and expenses rose by 2.5% year-over-year in the first half of 2024, with costs as a percentage of total sales increasing by 140 basis points to 91.9% [7].
Boise Cascade (BCC) Q2 Earnings & Sales Top Estimates, Down Y/Y
ZACKS· 2024-08-07 16:50
Core Insights - Boise Cascade Company (BCC) reported second-quarter 2024 results with earnings and sales exceeding the Zacks Consensus Estimate, although both metrics declined year-over-year [1][2] - The company's performance was affected by weak demand due to high mortgage rates and economic uncertainties, alongside lower volumes and prices in the Wood Products segment [1][2] - Despite current demand uncertainties, the company is optimistic about the second half of the year, focusing on providing value through its manufacturing and distribution network [1] Financial Performance - Adjusted earnings per share (EPS) for the quarter were $2.84, surpassing the Zacks Consensus Estimate of $2.65 by 7.2%, but down from $3.67 in the prior year [2] - Quarterly sales reached $1.80 billion, exceeding the consensus estimate of $1.73 billion by 4%, but reflecting a 1% decline year-over-year [2] - Adjusted EBITDA was $181.2 million, down 18% from the previous year's quarter [2] Segment Analysis - **Wood Products Segment**: Sales totaled $489.8 million, an 8% decrease from the prior year, driven by lower plywood volumes and reduced prices in engineered wood products (EWP) [3] - Adjusted EBITDA for this segment was $95 million, down 25% from $127 million a year ago, with costs as a percentage of sales increasing to 85.1% from 80.4% [3] - **Building Materials Distribution (BMD) Segment**: Sales increased 1% year-over-year to $1.66 billion, primarily due to a 2% rise in sales volume [4] - Adjusted EBITDA for the BMD segment fell 8% year-over-year to $97.1 million, with costs as a percentage of sales rising to 94.8% from 94.0% [4] Liquidity and Capital Management - Total liquidity as of June 30, 2024, was $1.32 billion, down from $1.35 billion at the end of 2023, including $395.7 million of undrawn committed bank line availability [5] - Cash and cash equivalents were $922.1 million, a decrease from $949.6 million at the end of 2023 [5] - Long-term debt slightly increased to $445.7 million from $445.3 million at the end of 2023 [5] - Net cash provided by operations was $169.2 million, down from $290.2 million in the year-ago period [5][6] Shareholder Actions - In the first half of 2024, the company repurchased 677,845 shares of its common stock for a total value of $88.9 million [6]
Boise Cascade(BCC) - 2024 Q2 - Earnings Call Transcript
2024-08-06 20:31
Boise Cascade Company (NYSE:BCC) Q2 2024 Earnings Conference Call August 6, 2024 11:00 AM ET Company Participants Chris Forrey - IR Nate Jorgensen - CEO Kelly Hibbs - SVP, CFO and Treasurer Jeff Strom - Head-Building Materials Distribution Operations Troy Little - Head-Wood Products Operations Conference Call Participants Susan Maklari - Goldman Sachs Kurt Yinger - D.A. Davidson George Staphos - Bank of America Merrill Lynch Mike Roxland - Truist Securities Reuben Garner - Benchmark Operator Good morning. M ...
Boise Cascade(BCC) - 2024 Q2 - Earnings Call Presentation
2024-08-06 17:19
Boise Cascade Company Second Quarter 2024 Earnings Webcast August 6, 2024 Forward-Looking Statements u This presentation includes statements about our expectations of future operational and financial performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our outlook. The accuracy of such statements is subject to a number of risks, uncertainties, and assumptions that could cause our actual ...
Boise Cascade(BCC) - 2024 Q2 - Quarterly Report
2024-08-05 20:38
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 June 30, 2024 ☐ 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 Boise Cascade Company (Exact name of registrant as specified in its charter) Delaware 20-1496201 (State or other jurisdiction of incorpora ...