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Jun 30, 2025
Boise Cascade Q2 2025 Earnings Report
Boise Cascade reported lower net income and revenue in Q2 2025 amid cost pressures and subdued construction demand.
Key Takeaways
Boise Cascade saw a 45% decline in net income for Q2 2025, impacted by lower EWP and plywood prices, higher conversion costs, and muted housing demand. Revenue fell slightly year-over-year, with distribution margins remaining relatively resilient.
Q2 2025 revenue was $1.74 billion, down 3% from $1.80 billion in Q2 2024
Net income fell to $62.0 million from $112.3 million a year ago
Wood Products segment income dropped 81% due to lower prices and higher costs
Adjusted EBITDA was $119.0 million, down from $181.2 million in Q2 2024
Forward Guidance
Boise Cascade anticipates near-term challenges in residential construction and remodeling due to affordability concerns and consumer caution, but remains optimistic about long-term housing demand fundamentals.
Positive Outlook
- Operational improvements from Oakdale mill modernization
- Healthy liquidity position with $876.2 million in available funds
- Strong long-term fundamentals driven by housing undersupply
- Stable margins on general line distribution products
- Positive impact from sale of non-operating properties
Challenges Ahead
- Weakened demand in residential construction market
- Lower pricing and volumes in EWP and plywood
- Higher conversion costs from plant downtime
- Softening consumer sentiment and project deferrals
Historical Earnings Impact
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Avg. Return Before/After Earnings
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