Boise Cascade Reports 61% Q1 Profit Drop Amid Housing Market Challenges

Boise Cascade reported a sharp decline in first-quarter profits and sales, with net income falling to $40.3 million ($1.06 per share) from $104.1 million ($2.61 per share) a year earlier, missing analysts’ expectations. Revenues dropped 7% year over year to $1.54 billion, reflecting weaker demand, lower product prices, and operational challenges, particularly at the Oakdale mill. Both core divisions—Wood Products and Building Materials Distribution—experienced drops in sales, volumes, and profitability due to ongoing softness in the housing market and elevated mortgage rates. The company’s adjusted EBITDA also declined significantly, down 46% from the prior year. Despite the downturn, analysts project a potential upside for BCC stock, with average price targets suggesting room for recovery as market conditions evolve and the company maintains a strong balance sheet. Boise Cascade remains committed to flexibility and long-term investment, anticipating improvement as housing fundamentals stabilize.