Mon, May 5, 8:36 PM (10 days ago)
**Boise Cascade Company (BCC) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $1,536.5 million (down 7% YoY from $1,645.4 million) - **Net Income:** $40.3 million (down 61.3% YoY from $104.1 million) - **Earnings per Share (EPS):** $1.06 (down 59.4% YoY from $2.63) - **Operating Income:** $54.5 million (down 59.1% YoY from $133.0 million) - **Operating Margin:** 3.5% (down from 8.1% YoY) - **Gross Margin:** 14.7% (down from 15.1% YoY) **Segment Performance:** - **Wood Products:** Sales down 11% YoY to $415.8 million, income down 75% YoY to $17.7 million. - **Building Materials Distribution (BMD):** Sales down 7% YoY to $1,407.1 million, income down 33% YoY to $48.4 million. **Cash Flow:** - **Operating Cash Flow:** -$28.5 million (down from $27.5 million YoY) - **Capital Expenditures:** $53.2 million (up from $34.3 million YoY) - **Free Cash Flow:** -$101.7 million (down from -$7.8 million YoY) - **Cash & Cash Equivalents:** $561.8 million (down from $713.3 million QoQ) **Debt & Liquidity:** - **Total Debt:** $450.0 million - **Available Liquidity:** $957.5 million (cash + undrawn committed bank line) - **Net Debt:** $16.5 million **Shareholder Returns:** - **Dividends:** $0.21 per share (up from $0.20 YoY) - **Share Repurchases:** 482,700 shares for $53.9 million in Q1 2025 **Trends & Uncertainties:** - **Market Demand:** Housing starts and single-family construction activity decreased, impacting sales. - **Pricing & Costs:** Lower sales prices and higher input costs affected margins. - **Seasonality:** Q1 typically has lower sales volumes due to weather conditions. - **Economic Uncertainties:** Macroeconomic factors and elevated mortgage rates impact demand. **Future Operations:** - **Capital Expenditures:** Expected to be $220-$240 million in 2025, including investments in mills and distribution centers. - **Debt Management:** New $450 million revolving credit facility maturing in 2030. - **Share Repurchases:** Approximately 1.1 million shares remaining under the repurchase program.