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Jun 30, 2021
Boise Cascade Q2 2021 Earnings Report
Reported net income of $302.6 million, or $7.62 per share, on sales of $2.4 billion for the second quarter ended June 30, 2021.
Key Takeaways
Boise Cascade Company reported exceptional second quarter 2021 results, with net income of $302.6 million and sales of $2.4 billion, driven by strong residential construction and favorable commodity wood products pricing.
Associates performed with focus and dedication to capitalize on the strength in residential construction, delivering exceptional results while supporting customers and supplier partners.
Completed one of the safest quarters on record.
Downward commodity pricing trends experienced in recent weeks have created a challenging environment, and the company is focused on mitigating their impact without sacrificing customer service.
Balance sheet position allows the company to remain focused on executing its strategy, including future organic and acquisition growth opportunities.
Forward Guidance
Economic uncertainty due to the pandemic continues. However, low mortgage rates, continuation of work-from-home practices by many in the economy, and demographics in the U.S. have created a favorable demand environment for new residential construction, particularly single-family housing starts, which we expect to continue in 2021 and into next year.
Positive Outlook
- Low mortgage rates.
- Continuation of work-from-home practices by many in the economy.
- Demographics in the U.S. have created a favorable demand environment for new residential construction, particularly single-family housing starts, which we expect to continue in 2021 and into next year.
- Age of the U.S. housing stock and limited home inventory availability will continue to provide a favorable backdrop for repair and remodel spending.
- Many national home builders are reporting strong near-term backlogs.
Challenges Ahead
- Economic uncertainty due to the pandemic continues.
- Labor shortages and supply induced constraints on residential construction activity may continue to extend build times and limit activity.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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