Companies /Basic Materials

Boise Cascade Company

NYSE: BCC Lumber & Wood Production
$78.73
▼ $1.21 (−1.51%) today
Markets closed · 5:04pm ET

Q1 2026 Earnings

Reported May 4, 2026, 4:23pm ET · SEC source
$0.50
Beat +17.18%
EPS · est. $0.43
$1.5B
Beat +2.64%
Revenue · est. $1.5B
−7.5%
Trailing market
BCC vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0May 4May 5report 4:23pm ETearnings+0.9%−5.1%
−4%−2%0May 4May 5earnings+0.9%−5.1%
BCC −5.1%S&P 500 +0.9%
−4%−2%0+2%May 4May 5report 4:23pm ETearnings+1.5%−5.1%
−4%−2%0+2%May 4May 5earnings+1.5%−5.1%
BCC −5.1%NASDAQ +1.5%
−8%−4%0+4%May 4May 12report 4:23pm ETearnings+2.8%−7.9%
−8%−4%0+4%May 4May 12earnings+2.8%−7.9%
BCC −7.9%S&P 500 +2.8%
−5%0+5%May 4May 12report 4:23pm ETearnings+5.1%−7.9%
−5%0+5%May 4May 12earnings+5.1%−7.9%
BCC −7.9%NASDAQ +5.1%
−2.96%
Day of report
+2.93%
Next session
−5.82%
One week
−5.61%
30 days

S&P 500 over the same 30 days: +1.90%.

Did BCC Beat Earnings? Q1 2026 Results

Boise Cascade delivered a cleaner-than-expected first quarter despite a difficult operating backdrop, with earnings per diluted share of $0.50 beating the $0.43 consensus estimate by 17.18% and revenue of $1.50 billion edging past the $1.46 billion forecast by 2.64%, even as sales slipped 2.5% from a year ago. The headline beat, however, obscured meaningful pressure beneath the surface: net income fell 56% year-over-year to $17.84 million, and adjusted EBITDA declined 27% to $66.57 million, as weaker engineered wood products pricing dragged both the Wood Products and Building Materials Distribution segments. Single-family housing starts, the company's primary demand driver, declined 5% year-over-year, while volatile mortgage rates and cautious builder sentiment clouded the spring selling season. Looking ahead, Boise Cascade guided Q2 adjusted EBITDA to a range of $83 million to $115 million; analysts noted the midpoint trails prior expectations, though long-term structural tailwinds in housing undersupply and repair-and-remodel spending continue to underpin the company's strategic confidence.

Key Takeaways
  • Single-family housing starts decreased 5% YoY, the key demand driver for the company's sales
  • BMD net sales price decreases of 3% partially offset by net sales volume increases of 2%
  • Lower EWP sales prices and volumes in Wood Products, particularly LVL and I-joists
  • Higher plywood sales volumes and prices partially offset EWP weakness
  • BMD selling and distribution expenses increased $8.2 million YoY
  • BMD gross margin compression of $6.5 million, particularly on EWP
  • Lower per-unit OSB costs provided partial offset in Wood Products
  • Oakdale mill resumption favorably impacted per-unit conversion costs

“In the first quarter of 2026, our businesses delivered solid results despite the current demand environment, influenced by geopolitical events, volatile mortgage rates, and severe weather. I am proud of our associates for continuing to lean into our integrated model, which demonstrates its value and resilience in markets like these. Our Company is especially well positioned during periods of uncertainty, as customers increasingly rely on Boise Cascade for reliable service and consistent value across a broad range of industry-leading products.”

Boise Cascade CEO, on the earnings call

Forward Guidance & Outlook

Boise Cascade's outlook highlights a mixed operating environment. Mortgage rates declined to over three-year lows earlier in Q1, but geopolitical turmoil has introduced volatility in treasury and mortgage rates, casting unpredictability on the spring selling season. Consumer sentiment and home affordability remain the most prominent headwinds to residential construction. Home builders are taking cautious approaches to starts, home sizes, location, and inventory. Long-term demand drivers remain strong, including generational tailwinds, housing undersupply, elevated homeowner equity, and an aging housing stock supporting repair-and-remodel spending. Product pricing, particularly for commodity products, is expected to remain dynamic. For Q2 2026, the company guides total Adjusted EBITDA of approximately $83–$115 million, with BMD EBITDA of $65–$80 million and Wood Products EBITDA of $32–$47 million. Full-year 2026 capital expenditures are expected at $150–$170 million, excluding acquisitions.

BCC YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$500.0M$1.0B$1.5B$1.5B$1.5BRevenue$54.5M$27.8MOperating Income$40.3M$17.8MNet Income
$0$500.0M$1.0B$1.5BRevenueOperating IncomeNet Income

BCC Revenue by Segment

Building Materials Distribution$1.4B−1.0%
Wood Products$398.2M−4.0%

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