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Why Is Boise Cascade (BCC) Down 4% Since Last Earnings Report?
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It has been about a month since the last earnings report for Boise Cascade (BCC - Free Report) . Shares have lost about 4% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Boise Cascade due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.
Boise Cascade Q1 Earnings Top Estimates on Integrated Model’s Strength
Boise Cascade delivered first-quarter 2026 results, with adjusted earnings topping the Zacks Consensus Estimate but declining year over year. The top line also declined on a year-over-year basis.
Q1 Revenues & Earnings
Boise Cascade posted first-quarter of 2026 earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 43 cents by 16.3%. Earnings fell 52.8% year over year from $1.06.
Sales were $1.50 billion, down 2.5% from the year-ago quarter’s $1.54 billion, as demand remained uneven amid volatile mortgage rates and severe weather. In the quarter, total U.S. housing starts increased 1% year over year, while single-family housing starts, a key demand driver for Boise Cascade, declined 5%.
BCC’s Segment Performance
Wood Products sales, including sales to the distribution segment, decreased 4% year over year to $398.2 million. Segment income dropped 52% to $8.5 million, reflecting a tougher pricing environment and cost headwinds in engineered wood products (EWP).
Average net selling prices declined 7% year over year for both LVL and I-joists, while volumes fell 1% and 5%, respectively. Plywood provided support, with management citing higher plywood sales volumes and prices, aided by resumed operations at the Oakdale veneer and plywood mill following planned downtime in 2025 for modernization projects.
Building Materials Distribution (BMD) generated sales of $1.39 billion, down 1% year over year. The sales decline was caused by a 3% drop in net selling prices, partially offset by a 2% increase in volumes, pointing to steady underlying activity but continued pricing pressure in certain categories.
By product line, general line product sales increased 4%, while commodity and EWP sales declined 5% and 7%, respectively. BMD segment income decreased 32% to $32.9 million and segment EBITDA fell 23% to $48.2 million as gross margin dollars slipped and selling and distribution expenses rose.
BCC’s Q1 Results Reflect Lower Profitability YoY
Despite the earnings beat, profitability contracted meaningfully. Net income fell to $17.8 million from $40.3 million, reflecting lower segment earnings and higher operating costs.
Adjusted EBITDA declined 27% year over year to $66.6 million. Management said the quarter was shaped by demand uncertainty tied to geopolitical events, volatile mortgage rates and severe weather, even as the company leaned on its integrated model to support customer service and product availability.
Boise Cascade ended the quarter with cash and cash equivalents of $338.7 million, down from $477.2 million at the end of 2025. Total available liquidity was $733.8 million, including $395.1 million of undrawn committed bank line availability. Outstanding debt as of March 31, 2026, was $448.1 million, slightly up from $445.4 million reported at the end of 2025.
The company repurchased 830,751 shares of common stock during the quarter for $65.5 million and, in April 2026, bought back an additional 312,894 shares for approximately $25 million. It also returned $10.4 million to its shareholders through dividends during the quarter.
On April 30, 2026, the board declared a quarterly cash dividend of 22 cents per share, payable on June 17, to its shareholders of record as of June 1. In addition, management reaffirmed its 2026 capital expenditure outlook of $150 million to $170 million, excluding any potential acquisition-related spending.
BCC’s Outlook Calls for Sequential EBITDA Improvement in Q2
For second-quarter 2026, BCC expects BMD EBITDA of $65-$80 million and Wood Products EBITDA of $32-$47 million. With unallocated corporate costs of ($14)-($12) million, the total company adjusted EBITDA is projected at $83 to $115 million.
The guidance framework implies a seasonally stronger quarter but leaves room for demand and pricing volatility. Management noted that BMD’s quarter-to-date daily sales pace was running 15% above the first-quarter average, while gross margins are expected in the 14.25%-15% range. For Wood Products, the company expects mid-single-digit sequential volume gains in EWP and plywood, with EWP pricing ranging from flat to a low single-digit sequential decline. It also outlined assumptions for depreciation and amortization of $40-$42 million, an effective tax rate of about 27% and roughly 35.5 million diluted shares outstanding as of April 30.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM Scores
Currently, Boise Cascade has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Boise Cascade has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Boise Cascade is part of the Zacks Building Products - Wood industry. Over the past month, Weyerhaeuser (WY - Free Report) , a stock from the same industry, has gained 2.9%. The company reported its results for the quarter ended March 2026 more than a month ago.
Weyerhaeuser reported revenues of $1.73 billion in the last reported quarter, representing a year-over-year change of -2%. EPS of $0.11 for the same period compares with $0.11 a year ago.
Weyerhaeuser is expected to post earnings of $0.10 per share for the current quarter, representing a year-over-year change of -16.7%. Over the last 30 days, the Zacks Consensus Estimate has changed +66.7%.
Weyerhaeuser has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
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Why Is Boise Cascade (BCC) Down 4% Since Last Earnings Report?
It has been about a month since the last earnings report for Boise Cascade (BCC - Free Report) . Shares have lost about 4% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Boise Cascade due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.
Boise Cascade Q1 Earnings Top Estimates on Integrated Model’s Strength
Boise Cascade delivered first-quarter 2026 results, with adjusted earnings topping the Zacks Consensus Estimate but declining year over year. The top line also declined on a year-over-year basis.
Q1 Revenues & Earnings
Boise Cascade posted first-quarter of 2026 earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 43 cents by 16.3%. Earnings fell 52.8% year over year from $1.06.
Sales were $1.50 billion, down 2.5% from the year-ago quarter’s $1.54 billion, as demand remained uneven amid volatile mortgage rates and severe weather. In the quarter, total U.S. housing starts increased 1% year over year, while single-family housing starts, a key demand driver for Boise Cascade, declined 5%.
BCC’s Segment Performance
Wood Products sales, including sales to the distribution segment, decreased 4% year over year to $398.2 million. Segment income dropped 52% to $8.5 million, reflecting a tougher pricing environment and cost headwinds in engineered wood products (EWP).
Average net selling prices declined 7% year over year for both LVL and I-joists, while volumes fell 1% and 5%, respectively. Plywood provided support, with management citing higher plywood sales volumes and prices, aided by resumed operations at the Oakdale veneer and plywood mill following planned downtime in 2025 for modernization projects.
Building Materials Distribution (BMD) generated sales of $1.39 billion, down 1% year over year. The sales decline was caused by a 3% drop in net selling prices, partially offset by a 2% increase in volumes, pointing to steady underlying activity but continued pricing pressure in certain categories.
By product line, general line product sales increased 4%, while commodity and EWP sales declined 5% and 7%, respectively. BMD segment income decreased 32% to $32.9 million and segment EBITDA fell 23% to $48.2 million as gross margin dollars slipped and selling and distribution expenses rose.
BCC’s Q1 Results Reflect Lower Profitability YoY
Despite the earnings beat, profitability contracted meaningfully. Net income fell to $17.8 million from $40.3 million, reflecting lower segment earnings and higher operating costs.
Adjusted EBITDA declined 27% year over year to $66.6 million. Management said the quarter was shaped by demand uncertainty tied to geopolitical events, volatile mortgage rates and severe weather, even as the company leaned on its integrated model to support customer service and product availability.
Boise Cascade’s Balance Sheet Supports Ongoing Returns
Boise Cascade ended the quarter with cash and cash equivalents of $338.7 million, down from $477.2 million at the end of 2025. Total available liquidity was $733.8 million, including $395.1 million of undrawn committed bank line availability. Outstanding debt as of March 31, 2026, was $448.1 million, slightly up from $445.4 million reported at the end of 2025.
The company repurchased 830,751 shares of common stock during the quarter for $65.5 million and, in April 2026, bought back an additional 312,894 shares for approximately $25 million. It also returned $10.4 million to its shareholders through dividends during the quarter.
On April 30, 2026, the board declared a quarterly cash dividend of 22 cents per share, payable on June 17, to its shareholders of record as of June 1. In addition, management reaffirmed its 2026 capital expenditure outlook of $150 million to $170 million, excluding any potential acquisition-related spending.
BCC’s Outlook Calls for Sequential EBITDA Improvement in Q2
For second-quarter 2026, BCC expects BMD EBITDA of $65-$80 million and Wood Products EBITDA of $32-$47 million. With unallocated corporate costs of ($14)-($12) million, the total company adjusted EBITDA is projected at $83 to $115 million.
The guidance framework implies a seasonally stronger quarter but leaves room for demand and pricing volatility. Management noted that BMD’s quarter-to-date daily sales pace was running 15% above the first-quarter average, while gross margins are expected in the 14.25%-15% range. For Wood Products, the company expects mid-single-digit sequential volume gains in EWP and plywood, with EWP pricing ranging from flat to a low single-digit sequential decline. It also outlined assumptions for depreciation and amortization of $40-$42 million, an effective tax rate of about 27% and roughly 35.5 million diluted shares outstanding as of April 30.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM Scores
Currently, Boise Cascade has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Boise Cascade has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Boise Cascade is part of the Zacks Building Products - Wood industry. Over the past month, Weyerhaeuser (WY - Free Report) , a stock from the same industry, has gained 2.9%. The company reported its results for the quarter ended March 2026 more than a month ago.
Weyerhaeuser reported revenues of $1.73 billion in the last reported quarter, representing a year-over-year change of -2%. EPS of $0.11 for the same period compares with $0.11 a year ago.
Weyerhaeuser is expected to post earnings of $0.10 per share for the current quarter, representing a year-over-year change of -16.7%. Over the last 30 days, the Zacks Consensus Estimate has changed +66.7%.
Weyerhaeuser has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.