Boise Cascade Q1 revenue falls 2% but beats estimates

Overview

• U.S. building materials distributor's Q1 revenue fell 2% yr/yr but beat analyst expectations

• Adjusted EPS for Q1 dropped 53% yr/yr, with net income down 56%

• Company repurchased about $65.5 mln in shares during Q1

Outlook

• Boise Cascade sees Q2 2026 total company adj EBITDA of ~$83 mln to ~$115 mln

• Company expects Q2 2026 BMD segment EBITDA of ~$65 mln to ~$80 mln

• Boise Cascade says product pricing expected to remain dynamic due to economic and geopolitical factors

Result Drivers

• WEAK PRICING - Lower net sales prices, particularly in Building Materials Distribution and for engineered wood products, weighed on results

• HIGHER COSTS - Increased selling and distribution expenses and higher per-unit EWP conversion costs reduced segment income

• PLYWOOD IMPROVEMENT - Higher plywood sales volumes and prices, along with resumed Oakdale mill operations, partially offset declines

Company press release: ID:nBwbxlPsNa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the construction supplies & fixtures peer group is "buy."

• Wall Street's median 12-month price target for Boise Cascade Co is $97.50, about 24.8% above its May 1 closing price of $78.13

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 21 three months ago

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