Q1 26 EPS
$0.50
BEAT +17.18%
Est. $0.43
Q1 26 Revenue
$1.50B
BEAT +2.64%
Est. $1.46B
vs S&P Since Q1 26
-1.9%
TRAILING MARKET
BCC -0.6% vs S&P +1.3%
Market Reaction
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 f… Read more 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
BCC 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, source: SEC Filings
BCC Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Jeff Strom, Q1 2026 Earnings Press Release
BCC Earnings Trends
BCC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BCC EPS Trend
Earnings per share: estimate vs actual
BCC Revenue Trend
Quarterly revenue: estimate vs actual
BCC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.43 | $0.50 | +17.18% | $1.50B | +2.64% |
| Q4 25 BEAT FY | $0.12 | $0.24 | +108.70% | $1.46B | +0.64% |
| FY Full Year | $3.40 | $3.53 | +3.88% | $6.40B | +0.15% |
| Q3 25 MISS | $0.69 | $0.58 | -15.73% | $1.67B | +2.71% |
| Q2 25 MISS | $1.74 | $1.64 | -5.84% | $1.74B | -0.40% |
| Q1 25 MISS | $1.29 | $1.06 | -17.51% | $1.54B | +1.32% |