Boise Cascade Reports Q3 Sales Decline, Plans $230M-$250M 2025 Capital Expenditure

Boise Cascade Co (BCC), a leading manufacturer of engineered wood products and plywood, reported a decline in third-quarter 2025 sales and net income, with sales dropping slightly to $1.67 billion and net income falling to $21.77 million from $91.04 million the previous year. The Wood Products segment experienced lower sales volumes and higher costs, particularly for laminated veneer lumber and I-joists, while the Building Materials Distribution segment saw mixed results with decreased commodity sales but increased margins on general line products. Despite these challenges, BCC maintains strong liquidity with $511.8 million in cash and a total liquidity of $907 million, supporting its resilience in a volatile market. The company plans significant capital expenditures of $230 million to $250 million in 2025 and $150 million to $170 million in 2026, aiming to navigate ongoing construction sector challenges such as high interest rates and policy instability. Additionally, Boise Cascade has initiated a $300 million share repurchase program and declared a quarterly dividend, signaling management's confidence despite recent stock price declines. Institutional investors have shown increased interest in BCC shares, with the State of New Jersey Common Pension Fund D notably boosting its stake.