Boise Cascade Co Del Stock Price, News & Analysis

Boise Cascade Company (NYSE: BCC) is set to hold a webcast and conference call on May 5, 2023, at 11 a.m. Eastern to discuss its first quarter earnings for 2023. Investors and analysts can participate by visiting the Investor section of their website.

Boise Cascade is recognized as a top producer of engineered wood products and plywood in North America, as well as a significant wholesale distributor of building products in the U.S. For further details, the archived webcast will also be available on their site.

Boise Cascade Company (NYSE: BCC) reported a fourth quarter net income of $117.4 million ($2.95 per share) on sales of $1.6 billion, reflecting a 31% decrease in net income year-over-year. For the full year 2022, net income was $857.7 million ($21.56 per share) on sales of $8.4 billion, a 20% increase from 2021. The company faced challenges with a 15% decline in U.S. housing starts, impacting demand for its products. Despite these pressures, Boise Cascade is focused on expanding its distribution capabilities and maintaining a strong balance sheet with $998.3 million in cash and cash equivalents. A quarterly dividend of $0.15 per share was declared, payable March 15, 2023.

Boise Cascade Company (NYSE: BCC) will host a webcast and conference call on February 22, 2023, at 11 a.m. Eastern to discuss its fourth quarter and full year 2022 earnings. Investors and analysts can join the call through the company’s Investor Relations section. Boise Cascade is a leading producer of engineered wood products and plywood in North America, and a major distributor of building products in the U.S. The archived webcast will also be available on the company website for those unable to attend.

Boise Cascade Company (NYSE: BCC) has announced a quarterly dividend of $0.15 per share, payable on March 15, 2023, to stockholders of record as of February 22, 2023. Future dividends will be determined by the Board of Directors based on various factors, including the company's financial condition and legal requirements. Boise Cascade is a major producer of engineered wood products and plywood in North America and a significant wholesale distributor of building products.

Boise Cascade Company (NYSE: BCC) announced the opening of its 10th door shop in Kansas City, set to begin production in June 2023. This new facility covers 150,000 sq. ft. and supports the Building Materials Distribution (BMD) division, which already operates nine similar locations. Boise Cascade continues to collaborate with top brands, including Therma-Tru, Simpson, and Steves & Sons, to enhance product offerings. Executives expressed enthusiasm about improving customer service and product quality through this expansion, reinforcing their commitment to the market and partner relationships.

Boise Cascade Company (NYSE: BCC) has announced the retirement of Rich Viola, Senior Vice President of Sales and Marketing in the Building Materials Distribution division, effective March 1, 2023. Viola, who began his career in 1980, joined Boise Cascade in 1999 and has played a significant role in expanding the company’s distribution network. Nathan Sikes will succeed Viola, having been with the company since 2006 and having held various leadership roles. CEO Nate Jorgensen praised Viola's contributions to the company, while the transition to Sikes is viewed positively as it utilizes internal talent.

Boise Cascade’s Building Materials Distribution (BMD) division has expanded its distribution capacity through new acquisitions in Walterboro, SC, and Hondo, TX. The 45-acre site in Walterboro will serve markets around Charleston and Myrtle Beach, while the 34-acre site in Hondo will enhance distribution capabilities in Texas, serving areas including San Antonio and Austin. These new facilities aim to improve customer service and product offerings in high-growth markets. Construction is expected to commence shortly, reinforcing the company's growth strategy in engineered wood products and building materials.

Boise Cascade reported net income of $219.6 million, or $5.52 per share, for Q3 2022, significantly up from $91.7 million the previous year. Sales rose to $2.2 billion, a 15% increase year-over-year. The Wood Products segment saw a 20% sales increase, primarily due to higher prices for engineered wood products. However, the company notes that demand may decline due to economic conditions affecting the residential construction market. Shareholder returns included a quarterly dividend increase and a special dividend. The company ended Q3 with $867.1 million in cash.