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Bear of the Day: Boise Cascade (BCC)

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Boise Cascade (BCC - Free Report)  is one of the top North American producers of engineered wood products and plywood. BCC stock has tanked over 20% in 2025, driven by macroeconomic challenges, industry-specific headwinds, and operational pressures.

The engineered wood products powerhouse missed our Q1 2025 earnings estimate by 22% on May 5. It also offered disappointing guidance as part of Boise Cascade’s extended trend of downward EPS revisions.

What’s Going On with BCC Stock?

Boise Cascade is a leading producer of engineered wood products (EWP) and plywood. The company is also a huge player in the wholesale distribution of building products in the U.S.

BCC posted an impressive stretch of top-line expansion between 2012 and 2022, highlighted by 18% growth in 2020 and 45% in 2021, driven by the Covid-driven housing and home improvement boom. Boise Cascade followed that up with another 6% sales growth in 2022, before tumbling against a tough to compete against stretch and a slowing housing market.

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The company’s sales fell 19% in 2023 and 2% in 2024, while its earnings tanked roughly 40% and 20%, respectively.

Most recently, Boise Cascade adjusted earnings dropped 59% YoY in the first quarter to $1.06 a share, missing our estimate by 22%. CEO Nate Jorgensen pointed to “constrained demand, difficult weather, and planned downtime at our Oakdale veneer and plywood mill” as part of its rough quarter and downbeat outlook.

Boise Cascade's consensus 2025 earnings estimate has dropped 18% since its Q1 report. Its 2026 estimate has slipped 13% since then, and its overall negative earnings revisions earn it a Zacks Rank #5 (Strong Sell).

The company’s earnings are projected to fall another 31% YoY in 2025 on 2% lower sales.

Stay Away from Boise Cascade Stock for Now?

Boise Cascade is prepared to benefit from long-term demographic trends and the ongoing undersupply of single-family homes that have kept housing demand high. The company also pays dividends and has a sturdy balance sheet.

Investors might want to put Boise Cascade on their watchlists since it could be a longer-term winner. Unfortunately, BCC faces near-term headwinds driven by weak housing market demand, economic uncertainty, and more.


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