Boise Cascade (BCC) Tops Q2 EPS by 23c, Revenues Miss

Boise Cascade (NYSE: BCC) reported Q2 EPS of $0.71, $0.23 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.27 billion.

“While the headwinds of low commodity products pricing and softer single-family residential starts made for challenging year-over-year financial comparisons, our businesses executed well during the second quarter. The progress we have made growing our distribution and EWP businesses is providing more stability to our earnings during periods of weak commodity pricing,” commented Tom Corrick, CEO. “BMD did a great job generating gross margin dollars in the current environment and continues to make further progress with the integration of recently acquired facilities. In Wood Products, our strategic veneer production projects are progressing as planned, with commissioning underway on the recently installed assets at our Chester, South Carolina, facility, and commencement of the Florien, Louisiana, project that is expected to be operational in mid-2020.”

For earnings history and earnings-related data on Boise Cascade (BCC) click here.

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