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Boise Cascade Company reports news around its integrated wood products manufacturing and building materials distribution businesses. The company makes engineered wood products and plywood, including laminated veneer lumber, I-joists and laminated beams, and distributes building materials such as OSB, plywood, lumber, siding, composite decking, doors and millwork, metal products, roofing, insulation and engineered wood products.
Recurring updates cover quarterly and annual operating results, commodity pricing and housing-demand conditions, production and inventory alignment, board-authorized dividends, earnings webcasts, and executive leadership changes. Company communications also connect segment performance to its national distribution footprint and manufacturing operations in the U.S. and Canada.
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.
Boise Cascade Company (NYSE: BCC) has announced a quarterly dividend of $0.15 per share, a 25% increase from the previous quarter, along with a special dividend of $1.00 per share. The dividends are set to be paid on December 15, 2022, to stockholders of record on December 1, 2022. Future dividends will depend on various factors including legal capital requirements, company operations, and financial conditions.
Boise Cascade’s Building Materials Distribution (BMD) division has acquired 4.67 acres of land near its Albuquerque branch as of October 17, 2022. This site, which already includes 13 acres and 78,000 sq. ft. of covered storage, will enhance operations in New Mexico, West Texas, and Juarez markets. The acquisition aims to diversify customer segments and expand product offerings, particularly in engineered wood products and Trex composite decking. According to branch manager Arik Zonski, the added space will also provide operational efficiencies.
Boise Cascade Company (NYSE: BCC) will host a webcast and conference call to discuss its third quarter earnings for 2022 on November 1, 2022, at 11 a.m. Eastern. The call will provide insights into the company's financial performance, which is critical for investors. Analysts and investors can access the webcast through the Investor Relations section of the company’s website.
Boise Cascade is a leading producer of engineered wood products and plywood in North America.
Boise Cascade reported net income of $218.1 million, or $5.49 per share, for Q2 2022, down 28% from $302.6 million in Q2 2021. Sales decreased 7% to $2.3 billion. The company completed the acquisition of Coastal Plywood for $517 million, enhancing its EWP capacity. Despite strong liquidity of $1.379 billion, the company anticipates a slowdown in new residential construction due to economic uncertainties and high mortgage rates. A dividend of $0.12 per share was declared, alongside a stock repurchase program for 2 million shares.
Boise Cascade Company (NYSE: BCC) has announced a quarterly dividend of $0.12 per share, to be paid on September 15, 2022 for stockholders of record on September 1, 2022. Future dividends will depend on various factors including legal capital requirements and the company’s financial condition. Boise Cascade is a leading producer of engineered wood products and plywood in North America.