Boise Cascade Company reported net income of $40.3 million, or $1.06 per share, on sales of $1.5 billion for the first quarter ended March 31, 2025. This represents a significant decrease from net income of $104.1 million, or $2.61 per share, on sales of $1.6 billion for the same period in 2024.
The Wood Products segment's sales, including intersegment transfers, decreased 11% to $415.8 million, with segment income plummeting 75% to $17.7 million. This decline was primarily due to lower EWP and plywood sales prices and volumes, coupled with higher per-unit conversion costs from planned downtime at the Oakdale mill modernization.
The Building Materials Distribution (BMD) segment saw sales decrease 7% to $1,407.1 million, and segment income decreased 33% to $48.4 million, driven by lower sales volumes and decreased margins on commodity and EWP products. The company noted that 2025 end-market demand expectations are difficult to predict, with most forecasts for housing starts ranging from flat to mid-single-digit year-over-year declines, and anticipates modest EWP price erosion in the second quarter.
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