Boise Cascade Company reported fourth-quarter 2024 net income of $68.9 million, or $1.78 per share, on sales of $1.6 billion. This compares to net income of $97.5 million, or $2.44 per share, on sales of $1.64 billion in Q4 2023. For the full year 2024, net income was $376.4 million, or $9.57 per share, on sales of $6.7 billion, down from $483.7 million, or $12.12 per share, on sales of $6.8 billion in 2023.
The Wood Products segment's Q4 sales decreased 7% to $419.7 million, with segment income plummeting 48% to $33.6 million, primarily due to lower EWP and plywood sales prices. The Building Materials Distribution (BMD) segment saw Q4 sales decrease 4% to $1,438.8 million, but segment income remained flat at $70.7 million, benefiting from decreased general and administrative expenses.
For 2025, Boise Cascade expects capital expenditures to range from $220 million to $240 million, including investments in I-joist production at its Thorsby, Alabama EWP mill and modernization projects at its Oakdale, Louisiana veneer and plywood mill. The company also plans continued spending on greenfield distribution centers in Texas and South Carolina. U.S. housing starts are forecasted at approximately 1.35 million for 2025.
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