Boise Cascade, L.l.c. · NYSE:BCC

Boise Cascade, L.l.c — Q2 2017 Earnings Presentation

13 slides from Boise Cascade, L.l.c's earnings presentation, Jul 27, 2017

  1. Slide 1: Boise Cascade Company Second Quarter 2017 Earnings Webcast

    Boise Cascade Company Second Quarter 2017 Earnings Webcast July 27, 2017

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements  This presentation includes statements about our expectations of future operational and financial performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The accuracy of such statements is subject to a nu

  3. Slide 3: Executive Summary

    Executive Summary  2Q17 sales were $1.14 billion, up 9% from 2Q16.  2Q17 net income was $22.2 million, or $0.57 per share, up 15% from 2Q16.  Wood Products reported 2Q17 segment income of $15.4 million, down 6% from 2Q16:  Higher OSB input costs for I-joist manufacturing  Higher per unit manufa

  4. Slide 4: 2Q 2017 Financial Highlights: Sales and Adjusted EBITDA

    2Q 2017 Financial Highlights $ Millions Sales $ Millions Adjusted EBITDA $1,400 $70 9% 10% $1,200 $60 $1,000 $50 38.4 $1,138.9 32.5 $62.1 980.7 $800 $40 850.0 $600 $30 $1,043.8 $400 $20 30.7 $56.4 31.1 $200 $10 350.3 346.4 $0 $0 (192.0) (152.7) (7.0) (7.1) ($200) ($10) 2Q 2017 2Q 2016 2Q 2017 2Q 201

  5. Slide 5: Wood Products EWP

    Wood Products EWP (mmcf) LVL (mmelf) I-joists 5.0 4.5 4.6 4.7 4.4 70 65 65 61 62 4.0 3.6 3.7 60 50 50 3.0 50 2.0 40 1.0 30 0.0 20 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ($/cf) ($/melf) $18 $1,200 16.74 1,138 1,136 16.79 16.65 1,116 16.63 16.57 1,102 16.21 1,091 $1,100 1,077 $16 $1,000 $14 $900 $12 $800 1Q 2Q 3Q 4Q

  6. Slide 6: Wood Products Plywood

    Wood Products Plywood Sales Volume Net Sales Price (mmsf 3/8” basis) ($/msf 3/8” basis) 450 $350 400 380 385 301 378 369 364 $300 282 288 271 268 350 336 261 $250 300 250 $200 200 $150 150 $100 100 $50 50 0 $0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2016 2017 Slide 6 July 27, 2017

  7. Slide 7: Building Materials Distribution Sales

    Building Materials Distribution Sales ($ Millions) (% of Sales) 981 100 $1,000 889 18 18 18 18 $900 850 20 19 816 $800 771 80 717 $700 35 37 35 35 34 35 $600 60 $500 $400 40 $300 47 45 47 47 46 46 $200 20 $100 $0 0 1Q 2Q 3Q 4Q 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 2016 2017 Commodity General Line

  8. Slide 8: Working Capital

    Working Capital Balance Sheet Items ($ Millions) 6/30/2017 3/31/2017 Change Receivables $ 322.2 $ 304.9 $ 17.3 Inventory 490.7 482.4 8.3 (a) Other current assets 11.7 8.9 2.7 824.5 796.2 28.4 Accounts payable 296.1 286.5 9.7 (b) Accrued liabilities 121.1 85.6 35.5 417.2 372.0 45.1 Net working capita

  9. Slide 9: Debt and Liquidity Highlights

    Debt and Liquidity Highlights ($ Millions) 6/30/2017 3/31/2017 Net Debt Total debt $ 438.2 $ 437.9 Cash & cash equivalents (104.7) (43.6) Net debt $ 333.5 $ 394.3 Liquidity Position Bank lines excess availability $ 393.7 $ 394.0 Cash & cash equivalents 104.7 43.6 Total liquidity $ 498.4 $ 437.5 Slid

  10. Slide 10: Outlook

    Outlook  Current consensus estimate for 2017 U.S. housing starts is 1.23 million, up about 5% from 1.17 million in 2016.  Long-term demand fundamentals expected to support recovery in U.S. housing to 1.4 to 1.5 million starts over next few years.  Expect improvement in performance for Wood Produc

  11. Slide 11: Appendix

    €S) Boise Cascade Appendix July 27, 2017

  12. Slide 12: Appendix: Net Income to EBITDA Reconciliation

    Appendix EBITDA represents income before interest (interest expense and interest income), income taxes, and depreciation and amortization. Additionally, we disclose Adjusted EBITDA, which further adjusts EBITDA to exclude the change in fair value of interest rate swaps and loss on extinguishment of

  13. Slide 13: Appendix: Segment Income to EBITDA Reconciliation

    Appendix The following table reconciles segment income to EBITDA for the three months ended June 30, 2017 and 2016, and March 31, 2017: Three Months Ended ($ Millions) 2Q17 2Q16 1Q17 Wood Products Segment income $ 15.4 $ 16.3 $ 7.4 Depreciation and amortization 15.3 14.8 15.2 Segment EBITDA $ 30.7 $

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