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].

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].

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 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 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 ...

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 ...

[Financial Performance Summary](index=1&type=section&id=Boise%20Cascade%20Company%20Reports%20Second%20Quarter%202024%20Results) Boise Cascade Company's second quarter 2024 results reflect a decline in profitability amidst a challenging demand environment [Second Quarter 2024 Highlights](index=1&type=section&id=Second%20Quarter%202024%20Highlights) Boise Cascade reported Q2 2024 net income of $112.3 million on $1.8 billion sales, a decline from Q2 2023, reflecting a challenging demand environment and focus on capital returns | Metric | 2Q 2024 | 2Q 2023 | % Change | | :--- | :--- | :--- | :--- | | **Consolidated Results** | | | | | Sales | $1,797.7M | $1,815.2M | (1)% | | Net Income | $112.3M | $146.3M | (23)% | | Diluted EPS | $2.84 | $3.67 | (23)% | | Adjusted EBITDA | $181.2M | $221.0M | (18)% | | **Segment Results** | | | | | Wood Products Sales | $489.8M | $530.3M | (8)% | | Wood Products Income | $72.8M | $104.0M | (30)% | | BMD Sales | $1,655.2M | $1,636.5M | 1% | | BMD Income | $85.4M | $98.6M | (13)% | - CEO Nate Jorgensen noted solid financial performance despite a 'somewhat tepid demand environment' and emphasized organic growth and capital returns, including a significant special dividend[4](index=4&type=chunk) - Single-family housing starts, a key demand driver, increased by **7% in Q2 2024** year-over-year and **16% year-to-date**, while total U.S. housing starts decreased by **7%** in the same quarter[6](index=6&type=chunk) [Segment Performance Analysis](index=2&type=section&id=Segment%20Performance%20Analysis) Analysis of Wood Products and Building Materials Distribution segments reveals varied performance influenced by pricing, volume, and operational costs [Wood Products](index=2&type=section&id=Wood%20Products) The Wood Products segment saw an 8% sales decrease and a 30% income drop, primarily due to lower plywood volumes and reduced EWP selling prices, partially offset by higher EWP volumes | Product | Avg. Net Selling Prices (2Q24 vs 2Q23) | Sales Volumes (2Q24 vs 2Q23) | | :--- | :--- | :--- | | LVL | (7)% | 8% | | I-joists | (6)% | 5% | | Plywood | (1)% | (13)% | - The decrease in sales was primarily driven by lower plywood sales volumes and lower sales prices for LVL and I-joists (EWP)[7](index=7&type=chunk) - Segment income fell mainly due to lower EWP sales prices, coupled with higher wood fiber and conversion costs, partially mitigated by increased EWP sales volumes[8](index=8&type=chunk) [Building Materials Distribution (BMD)](index=2&type=section&id=Building%20Materials%20Distribution) The BMD segment's sales grew 1% to $1.66 billion, driven by volume increases and the BROSCO acquisition, while segment income declined 13% due to increased expenses - Sales growth was driven by a **2% increase in volume**, partially offset by a **1% decrease in prices**, with the October 2023 BROSCO acquisition being a significant factor; excluding it, sales would have decreased by **2%**[9](index=9&type=chunk) - By product line, general line product sales increased by **8%**, while commodity sales decreased by **6%** and EWP sales decreased by less than **1%**[9](index=9&type=chunk) - The decrease in segment income was primarily caused by a **$10.9 million increase** in selling and distribution expenses and a **$4.4 million increase** in depreciation and amortization[10](index=10&type=chunk) [Financial Position and Capital Allocation](index=2&type=section&id=Financial%20Position%20and%20Capital%20Allocation) Boise Cascade maintains a strong financial position with substantial liquidity and a strategic approach to capital deployment [Balance Sheet and Liquidity](index=2&type=section&id=Balance%20Sheet%20and%20Liquidity) As of June 30, 2024, Boise Cascade maintained a robust $1.32 billion liquidity, including $922.1 million in cash, with total outstanding debt at $445.7 million | Metric | Amount (as of June 30, 2024) | | :--- | :--- | | Cash and cash equivalents | $922.1 million | | Undrawn committed bank line | $395.7 million | | **Total available liquidity** | **$1,317.8 million** | | Outstanding debt | $445.7 million | [Capital Allocation](index=3&type=section&id=Capital%20Allocation) The company projects $250-$270 million in 2024 capital expenditures, declared special and regular dividends, and repurchased $99.4 million in common stock - Expected capital expenditures for 2024 are projected to be between **$250 million and $270 million**, excluding potential acquisitions[12](index=12&type=chunk) - A special dividend of **$5.00 per share** and a quarterly dividend of **$0.21 per share** were declared, both payable on September 16, 2024[12](index=12&type=chunk) - The company repurchased **677,845 shares for $88.9 million** in the first six months of 2024, and an additional **90,000 shares for $10.5 million** in July 2024, with approximately **1.2 million shares** remaining available for repurchase[12](index=12&type=chunk) [Outlook](index=3&type=section&id=Outlook) The company's outlook anticipates near-term market challenges but remains optimistic about long-term housing fundamentals [Market Outlook](index=3&type=section&id=Market%20Outlook) The company anticipates near-term demand challenges from high mortgage rates and affordability issues, but expects long-term support from favorable housing fundamentals and healthy repair-and-remodel spending - Demand is primarily driven by new residential construction, especially single-family, and repair-and-remodeling activity[13](index=13&type=chunk) - Near-term challenges include home affordability issues, elevated mortgage rates, and consumer uncertainty, which have softened renovation spending[13](index=13&type=chunk) - Positive long-term drivers include low unemployment, an undersupply of existing housing stock, and favorable demographic trends, which are expected to keep new construction as an important source of housing supply[13](index=13&type=chunk) - The company faces risks from volatile commodity product prices and input costs, which can impact sales and profitability in both its manufacturing and distribution businesses[14](index=14&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's consolidated financial statements, including operations, balance sheets, and cash flows [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For Q2 2024, the company reported $1.80 billion in sales and $112.3 million in net income, with six-month figures showing decreased profitability year-over-year | (in thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | | :--- | :--- | :--- | | Sales | $1,797,670 | $1,815,219 | | Income from operations | $146,981 | $189,975 | | **Net income** | **$112,292** | **$146,320** | | Diluted EPS | $2.84 | $3.67 | [Consolidated Balance Sheets](index=9&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets increased to $3.67 billion and total stockholders' equity grew to $2.30 billion from year-end 2023 | (in thousands) | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $922,076 | $949,574 | | Total current assets | $2,267,806 | $2,056,814 | | **Total assets** | **$3,671,964** | **$3,458,646** | | Total current liabilities | $691,506 | $594,116 | | Long-term debt | $445,723 | $445,280 | | **Total stockholders' equity** | **$2,302,976** | **$2,195,664** | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2024, net cash from operations decreased to $169.2 million, with significant cash used in investing and financing activities | (in thousands) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net cash provided by operations | $169,165 | $290,218 | | Net cash used for investment | ($76,667) | ($66,369) | | Net cash used for financing | ($119,996) | ($141,336) | | **Net (decrease) in cash** | **($27,498)** | **$82,513** | [Reconciliation of Non-GAAP Financial Measures](index=12&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section provides reconciliations of non-GAAP financial measures, including EBITDA and Adjusted EBITDA, to their most directly comparable GAAP measures [Reconciliation of Net Income to EBITDA and Adjusted EBITDA](index=12&type=section&id=Reconciliation%20of%20Net%20Income%20to%20EBITDA%20and%20Adjusted%20EBITDA) This section reconciles Q2 2024 Net Income of $112.3 million to Adjusted EBITDA of $181.2 million, providing non-GAAP financial insights | (in thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net income | $112,292 | $146,320 | | Adjustments (Interest, Taxes, D&A) | $68,428 | $75,089 | | EBITDA | $180,720 | $221,309 | | Change in fair value of interest rate swaps | $487 | ($333) | | **Adjusted EBITDA** | **$181,207** | **$220,976** | [Reconciliation of Segment Income to EBITDA](index=13&type=section&id=Reconciliation%20of%20Segment%20Income%20to%20EBITDA) This table reconciles Q2 2024 segment income to EBITDA for Wood Products ($72.8M to $95.1M) and Building Materials Distribution ($85.4M to $97.1M) | (in thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | | :--- | :--- | :--- | | **Wood Products** | | | | Segment income | $72,780 | $104,035 | | Depreciation and amortization | $22,270 | $23,005 | | **EBITDA** | **$95,050** | **$127,040** | | **Building Materials Distribution** | | | | Segment income | $85,400 | $98,550 | | Depreciation and amortization | $11,741 | $7,386 | | **EBITDA** | **$97,141** | **$105,936** |

The market expects Boise Cascade (BCC) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, th ...

A month has gone by since the last earnings report for Boise Cascade (BCC) . Shares have added about 1.1% 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 its most recent earnings report in order to get a better handle on the important drivers. Boise Cascade Q1 Earnings & Sales Top Estimates, ...

Boise Cascade Company (NYSE:BCC) Q1 2024 Results Conference Call May 7, 2024 11:00 AM ET Company Participants Chris Forrey - IR Nate Jorgensen - Chief Executive Officer Kelly Hibbs - Senior Vice President, Chief Financial Officer and Treasurer Troy Little - Head-Wood Products Operations Jeff Strom - Head-Building Materials Distribution Operations Conference Call Participants Charles Perron - Goldman Sachs Mike Roxland - Truist Lucas Hudson - Bank of America Securities Ketan Mamtora - BMO Kurt Yinger - D.A. ...