Boise Cascade Reports Solid 2024 Earnings Amid Market Shifts

Published 6 hours agoBCC

Boise Cascade Reports Solid 2024 Earnings Amid Market Shifts

Boise Cascade Company has released its fourth-quarter and full-year financial results for 2024, showcasing a net income of $68.9 million, or $1.78 per share, in the last quarter. The company achieved quarterly sales of $1.57 billion and an adjusted EBITDA of $128.7 million. However, the Wood Products segment experienced a sales decline of 7% to $419.7 million, while its income fell 48% to $33.6 million. On the other hand, the Building Materials Distribution segment saw a 4% decrease in sales, though its income maintained stability at $70.7 million.

For the full year of 2024, Boise Cascade reported a net income of $376.4 million, equating to $9.57 per share, on total sales of $6.72 billion. The company's adjusted EBITDA for the year was $632.8 million. Notably, the Wood Products segment's income dropped 31% to $231.5 million as sales decreased by 5%, while Building Materials Distribution's income fell by 10% despite stable sales. In 2024, the U.S. housing market saw a 4% decline overall; however, single-family home starts actually rose by 7%, a trend that impacts Boise Cascade's operations.

Looking ahead, Boise Cascade plans capital expenditures ranging from $220 million to $240 million in 2025, with a focus on expanding its I-joist production and developing distribution centers. The company returned $228.8 million to shareholders via dividends and spent $194.9 million on share repurchases. CEO Nate Jorgensen expressed satisfaction with the year's accomplishments and highlighted the firm's efforts in driving engineered wood product growth and providing substantial returns to its shareholders, according to a report by Reuters.

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