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Sep 30, 2024
Boise Cascade Q3 2024 Earnings Report
Reported good financial results amidst a moderate demand environment, driven by associates' efforts and a strong combination of engineered wood products and distribution network.
Key Takeaways
Boise Cascade reported a net income of $91.0 million, or $2.33 per share, on sales of $1.7 billion for the third quarter ended September 30, 2024. This compares to a net income of $143.1 million, or $3.58 per share, on sales of $1.8 billion for the third quarter ended September 30, 2023.
Delivered good financial results in a moderate demand environment.
Continued progress on key strategic investment initiatives.
Thoughtfully deployed capital to shareholders.
Expect normal seasonality through the winter months.
Boise Cascade
Boise Cascade
Boise Cascade Revenue by Segment
Revenue by Segment
Wood Products Revenue
CapyFin.comBuilding Materials Distribution Revenue
CapyFin.com Forward Guidance
Demand is correlated with residential construction and repair activity. Housing starts are expected to be approximately 1.35 million in 2024 and modestly above 1.40 million in 2025.
Positive Outlook
- New residential construction will continue to be an important source of supply for the demand created by undersupplied housing.
- Favorable demographic trends.
- Low unemployment.
- Modest growth in home improvement spending is expected in 2025.
- Age of U.S. housing stock and elevated levels of homeowner equity will continue to provide a favorable backdrop for repair-and-remodel spending.
Challenges Ahead
- Home affordability remains a challenge for many consumers due to home prices and the cost of financing.
- Level of mortgage rates is limiting the supply of existing housing stock available for sale.
- Macroeconomic factors will influence the near-term demand environment.
- Sales and profitability exposure to declines in commodity product prices and rising input costs.
- Future product pricing, particularly commodity products pricing and input costs, may be volatile.
Revenue & Expenses
Visualization of income flow from segment revenue to net income