UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 ☐ 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 incorporation ...

Financial Data and Key Metrics Changes - Full-year net income for 2025 was $132.8 million, or $3.53 per share, compared to $68.9 million, or $1.78 per share in the fourth quarter of 2024 [4][6] - Consolidated fourth-quarter sales were $1.5 billion, down 7% from the fourth quarter of 2024 [5][6] - Fourth-quarter net income was $8.7 million, or $0.24 per share, compared to $68.9 million, or $1.78 per share in the year-ago quarter [6][7] Business Line Data and Key Metrics Changes - Building Materials Distribution (BMD) sales in the fourth quarter were $1.4 billion, down 5% from the fourth quarter of 2024, with segment EBITDA of $56.4 million compared to $84.5 million in the prior year [8][9] - Wood Products sales in the fourth quarter were $354 million, down 16% compared to the fourth quarter of 2024, with segment EBITDA of $12.3 million compared to $56.6 million in the year-ago quarter [8][9] Market Data and Key Metrics Changes - Total U.S. housing starts increased by 4% year-over-year, while single-family housing starts increased by 7% [5] - Plywood sales volume was 354 million feet, down from 371 million feet in the fourth quarter of 2024, with average net sales price down 6% year-over-year [14][15] Company Strategy and Development Direction - The company is focused on expanding its distribution business and enhancing EWP production capabilities, with significant investments made in the last three years [4][16] - The acquisition of Holden Humphrey is expected to enhance the company's footprint and product offerings in the Northeast region [20][79] Management's Comments on Operating Environment and Future Outlook - Management noted that single-family starts fell short of 2024 levels by approximately 7% and are expected to be flat or modestly down in 2026 due to affordability challenges [20][21] - The company remains confident in long-term demand drivers for residential construction, including persistent undersupply of housing and high levels of homeowner equity [22][23] Other Important Information - The company repurchased approximately $181 million of common stock in 2025, including $70 million in the fourth quarter [16] - Capital expenditures for 2025 were $241 million, with expectations for 2026 spending between $150 million and $170 million [15][16] Q&A Session Summary Question: Can you talk about the share gains in the general line within BMD? - Management noted strong demand for general line products, achieving an all-time high in 2025, with continued growth expected [28] Question: How is the channel positioned for EWP as builders target low single-digit volume growth? - Management indicated that restocking has begun in Q1, and they are aligned with strong partners on the builder and dealer side [31] Question: What areas will the new CEO focus on? - The new CEO emphasized maintaining strategic priorities, increasing earnings stability, and becoming the employer of choice for associates [32][34] Question: Can you provide more color on the Holden Humphrey acquisition? - The acquisition is expected to enhance efficiency and access to new product categories in the Northeast region [79][80] Question: What factors could drive BMD margins back to 5%? - Management indicated that improved sales velocity and a favorable mix of products could help achieve this margin level [47][49]

Financial Data and Key Metrics Changes - Full-year net income for 2025 was $132.8 million, or $3.53 per share, compared to $68.9 million, or $1.78 per share in the previous year [4][6] - Fourth-quarter consolidated sales were $1.5 billion, down 7% from the fourth quarter of 2024 [5] - Fourth-quarter net income was $8.7 million, or $0.24 per share, compared to $68.9 million, or $1.78 per share in the year-ago quarter [6] Business Line Data and Key Metrics Changes - Building Materials Distribution (BMD) sales in the fourth quarter were $1.4 billion, down 5% from the fourth quarter of 2024, with segment EBITDA of $56.4 million compared to $84.5 million in the prior year [8][9] - Wood Products sales in the fourth quarter were $354 million, down 16% compared to the fourth quarter of 2024, with segment EBITDA of $12.3 million compared to $56.6 million in the year-ago quarter [8][9] Market Data and Key Metrics Changes - Total U.S. housing starts increased by 4% year-over-year, while single-family housing starts increased by 7% [5] - Plywood sales volume was 354 million feet, down from 371 million feet in the fourth quarter of 2024, with average net sales price down 6% year-over-year [14][15] Company Strategy and Development Direction - The company is focused on expanding its distribution business and enhancing EWP production capabilities, with significant investments made in the last three years [4][16] - The acquisition of Holden Humphrey is expected to enhance the company's footprint and product offerings in the Northeast region [20][77] Management's Comments on Operating Environment and Future Outlook - Management noted that single-family starts are expected to be flat or modestly down in 2026 due to affordability challenges for homebuyers [20][21] - The company remains confident in long-term demand drivers for residential construction, including housing undersupply and aging housing stock [22] Other Important Information - The company repurchased approximately $181 million of common stock in 2025, with an additional $39 million repurchased in the first quarter of 2026 [16][17] - A $6 million charge related to legal proceedings in the BMD segment was noted, stemming from a Lacey Act investigation [7][11] Q&A Session Summary Question: Can you talk about the share gains in the general line within BMD? - Management indicated strong demand for general line products, with significant growth in categories like James Hardie and Trex, and a focus on home center business [28] Question: How is the channel positioned for EWP with builders targeting low single-digit volume growth? - Management noted some restocking in Q1 and strong partnerships with builders and dealers, indicating readiness for market recovery [31] Question: What areas will the new CEO focus on? - The new CEO emphasized maintaining strategic priorities, increasing efficiencies, and becoming the employer of choice for associates [34] Question: Can you provide more color on the Holden Humphrey acquisition? - The acquisition is expected to enhance efficiency and access to new product categories in the Northeast, with opportunities to leverage relationships across the region [77] Question: What is the outlook for BMD margins? - Management indicated that achieving normal margins will depend on seasonal demand and product mix, with expectations for improvement in the second and third quarters [46][48]

Financial Data and Key Metrics Changes - Full-year net income for 2025 was $132.8 million, or $3.53 per share, compared to $68.9 million, or $1.78 per share in the prior year quarter [3][4] - Consolidated fourth-quarter sales were $1.5 billion, down 7% from the fourth quarter of 2024 [4] - Fourth-quarter net income was $8.7 million, or $0.24 per share, compared to $68.9 million, or $1.78 per share in the year-ago quarter [4][5] Business Line Data and Key Metrics Changes - Building Materials Distribution (BMD) sales in the fourth quarter were $1.4 billion, down 5% from the fourth quarter of 2024, with segment EBITDA of $56.4 million compared to $84.5 million in the prior year quarter [7][8] - Wood Products sales in the fourth quarter were $354 million, down 16% compared to the fourth quarter of 2024, with segment EBITDA of $12.3 million compared to $56.6 million in the year-ago quarter [7][8] Market Data and Key Metrics Changes - Total U.S. housing starts increased by 4% year-over-year, while single-family housing starts increased by 7% compared to the prior year quarter [4] - Plywood sales volume was 354 million feet, down from 371 million feet in the fourth quarter of 2024, with average net sales price down 6% year-over-year [12][13] Company Strategy and Development Direction - The company continues to focus on expanding its distribution business and enhancing EWP production capabilities, with significant investments made in the last three years [3][4] - The acquisition of Holden Humphrey is expected to enhance the company's footprint and product offerings in the Northeast region [19][77] Management's Comments on Operating Environment and Future Outlook - Management noted that single-family starts fell short of 2024 levels by approximately 7% and are expected to be flat or modestly down in 2026 due to affordability challenges for homebuyers [20] - The company remains confident in long-term demand drivers for residential construction, including persistent undersupply of housing and high levels of homeowner equity [22] Other Important Information - The company repurchased approximately $181 million of common stock in 2025, including $70 million in the fourth quarter [15] - Capital expenditures for 2025 were $241 million, with expectations for 2026 spending to be between $150 million and $170 million [14][15] Q&A Session Summary Question: Can you talk about the share gains in the general line within BMD? - Management noted strong demand in general line products, achieving an all-time high in 2025, with continued growth expected [27][28] Question: How is the channel positioned for EWP as builders target low single-digit volume growth? - Management indicated that restocking has begun in Q1, and strong partnerships with builders and dealers position the company well for market recovery [30] Question: What areas will the new CEO focus on? - The new CEO emphasized maintaining strategic priorities, increasing earnings stability, and becoming the employer of choice for associates [31][32] Question: Can you provide more color on the Holden Humphrey acquisition? - The acquisition is expected to enhance efficiency and access to new product categories in the Northeast, allowing for expanded relationships with key suppliers [76][78] Question: What factors will drive BMD margins back to 5%? - Management indicated that improved sales velocity, mix shift, and seasonal strength in the second and third quarters could help achieve this margin target [46][60]

Boise Cascade Company Fourth Quarter 2025 Earnings Webcast February 24, 2026 Forward-Looking Statements This presentation contains statements concerning future events and expectations, including, without limitation, statements relating to first quarter 2026 outlook and expected key drivers for Boise Cascade and each of its business segments. These statements constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that express, or invol ...

Boise Cascade Company Exhibit 99.1 1111 West Jefferson Street, Suite 300 Boise, ID 83702 Press Release For Immediate Release: February 23, 2026 Investor Contact Chris Forrey investor@bc.com Media Contact Amy Evans mediarelations@bc.com Boise Cascade Company Reports Fourth Quarter and Full Year 2025 Results BOISE, IDAHO - February 23, 2026 - Boise Cascade Company ("Boise Cascade," the "Company," "we," or "our") (NYSE: BCC) today reported fourth quarter net income of $8.7 million, or $0.24 per share, on sales ...

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Core Viewpoint - Boise Cascade Company will host a webcast and conference call on February 24, 2026, to discuss its fourth quarter and full year earnings for 2025, highlighting its ongoing commitment to transparency and investor engagement [1]. Group 1: Company Overview - Boise Cascade is one of the largest wholesale distributors of building materials in the U.S. and a leading manufacturer of engineered wood products and plywood in North America [1]. - The company operates over 60 distribution and manufacturing facilities across the U.S. and Canada, employing more than 7,500 people [1]. - In 2024, Boise Cascade reported revenues of $6.7 billion and a net income of $376 million [1]. Group 2: Executive Leadership Changes - The company announced the promotion of Angella Broesch to Senior Vice President of Human Resources and Chris Forrey to Senior Vice President of Finance & Investor Relations, effective February 9, 2026 [1]. - Additionally, Dennis Fringuelli was named Vice President of Sales and Marketing for the Building Materials Distribution division, and Jeff Dracup was named Vice President of Sales and Marketing for Engineered Wood Products, both effective January 19, 2026 [1]. Group 3: Dividend Announcement - Boise Cascade's Board of Directors declared a quarterly dividend of $0.22 per share, which will be paid on March 18, 2026, to stockholders of record on February 23, 2026 [1].

Core Viewpoint - Boise Cascade Company declared a quarterly dividend of $0.22 per share for its common stock, indicating a commitment to returning value to shareholders [1] Dividend Declaration - The dividend will be paid on March 18, 2026, to stockholders of record on February 23, 2026, reflecting the company's planned schedule for shareholder returns [1] - Future dividend declarations will depend on legal capital requirements and surplus, suggesting that the board will evaluate financial conditions before making decisions on dividends [1]

Leadership Promotions - Boise Cascade announced the promotion of Dennis Fringuelli to Vice President of Sales and Marketing for the Building Materials Distribution division and Jeff Dracup to Vice President of Sales and Marketing for Engineered Wood Products, effective January 19, 2026 [1] - These promotions are part of a succession planning process aimed at developing internal talent and recognizing leaders who embody the company's values and have shown exceptional performance [4] Executive Backgrounds - Dennis Fringuelli has been with Boise Cascade since 1999, starting as a national account manager and progressing through various roles, including director of BMD sales and marketing [2] - Jeff Dracup joined Boise Cascade in 2004, initially in sales and product management, and has held several progressive positions, including director of EWP sales and marketing [3] Company Overview - Boise Cascade is a leading wholesale distributor of building materials and a major manufacturer of engineered wood products and plywood in North America, operating over 60 distribution and manufacturing facilities across the U.S. and Canada [5] - The company employs over 7,500 people and focuses on delivering outstanding service through an integrated model and national distribution footprint [5]