Companies /Basic Materials

Boise Cascade Company

NYSE: BCC Lumber & Wood Production
$78.77
▼ $1.17 (−1.46%) today
Markets closed · 8:43pm ET

Q3 2025 Earnings

Reported Nov 3, 2025, 4:19pm ET · SEC source
$0.58
Miss −15.73%
EPS · est. $0.69
$1.7B
Beat +2.71%
Revenue · est. $1.6B
+2.2%
Beating market
BCC vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%Nov 3Nov 4report 4:19pm ETearnings−1.2%+3.0%
−3%0+3%Nov 3Nov 4earnings−1.2%+3.0%
BCC +3.0%S&P 500 −1.2%
−3%0+3%Nov 3Nov 4report 4:19pm ETearnings−2.1%+3.0%
−3%0+3%Nov 3Nov 4earnings−2.1%+3.0%
BCC +3.0%NASDAQ −2.1%
−3%0+3%Nov 3Nov 11report 4:19pm ETearnings−0.0%+0.0%
−3%0+3%Nov 3Nov 11earnings−0.0%+0.0%
BCC +0.0%S&P 500 −0.0%
−3%0+3%Nov 3Nov 11report 4:19pm ETearnings−1.6%+0.0%
−3%0+3%Nov 3Nov 11earnings−1.6%+0.0%
BCC +0.0%NASDAQ −1.6%
+3.03%
Day of report
+1.38%
Next session
−1.11%
One week
+3.75%
30 days

S&P 500 over the same 30 days: +1.55%.

Did BCC Beat Earnings? Q3 2025 Results

Boise Cascade delivered a mixed but broadly disappointing third quarter, with earnings falling well short of expectations even as revenue edged ahead of forecasts. The company posted EPS of $0.58, missing the $0.69 consensus estimate by 15.73%, while net income collapsed 76% year-over-year to $21.77 million as commodity pricing headwinds and subdued housing demand carved deeply into margins. Revenue came in at $1.67 billion, a 2.71% beat versus the $1.62 billion consensus, though still down 2.7% from a year ago. The sharpest pain came from the Wood Products segment, which swung to a loss of $12.05 million from income of $53.85 million in Q3 2024, driven by double-digit price and volume declines across LVL, I-joists, and plywood. Investors are weighing persistent pricing pressure against the company's active capital return program, including a new $300 million share repurchase authorization. Looking ahead, management projects 2026 housing starts broadly in line with 2025 levels, with cautious first-half expectations and only gradual improvement thereafter.

Key Takeaways
  • Lower EWP and plywood sales prices and volumes drove Wood Products segment loss
  • Higher per-unit conversion costs in Wood Products
  • BMD general line product sales increased 6%, partially offsetting commodity and EWP declines
  • BMD gross margin compressed from decreased margins on commodity and EWP products
  • Single-family housing starts decreased 3% year-over-year through July-August 2025
  • Subdued demand and commodity pricing headwinds across the business

“In the face of subdued demand and commodity pricing headwinds, we were able to post good earnings for the third quarter of 2025.”

Boise Cascade CEO, on the earnings call

Forward Guidance & Outlook

The housing market in 2025 has been shaped by policy uncertainty, low consumer confidence, elevated interest rates, and affordability challenges. Early industry projections for 2026 are consistent with 2025 housing start levels, with a cautious first half and gradual improvement expected later in the year driven by continuation of interest rate cuts and normalized homebuilder inventory levels. Long-term demand drivers including generational tailwinds and undersupply of housing units remain strong. The company expects seasonally slower Q4 activity and plans capital project, maintenance-related, and potential market-related downtime at manufacturing facilities. Capital expenditures are expected at $230-$250 million in 2025 and $150-$170 million in 2026.

BCC YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$500.0M$1.0B$1.5B$1.7B$1.7BRevenue$117.3M$32.3MOperating Income$91.0M$21.8MNet Income
$0$500.0M$1.0B$1.5BRevenueOperating IncomeNet Income

BCC Revenue by Segment

Building Materials Distribution$1.6B−1.0%
Wood Products$396.4M−13.0%

Figures from SEC filings and company reports. Not investment advice.