Boise Cascade, L.l.c.NYSE: BCC

Q3 2025 Earnings Release Slides

· Issued by Boise Cascade, L.l.c.
Watch Boise Cascade, L.l.c explain itBoise Cascade, L.L.C. (BCC) Q2 2026 Earnings Call · Replay · Aug 4
Boise Cascade Company Third Quarter 2025 Earnings Webcast November 4, 2025


  • Consolidated Results

    • 3Q25 sales were $1.7 billion, down 3% from 3Q24

    • 3Q25 net income was $21.8 million, or $0.58 per share, compared to net income of $91.0 million, or $2.33 per share, in 3Q24

  • Results reflective of subdued demand environment

  • Focus on execution of strategic priorities

Sales Adjusted EBITDA

1,556.2

1,567.5

396.4

453.9

(284.7)

(307.6)

$ Millions

$ Millions

$1,667.8

(3)%

$1,713.7

(52)%

87.7

$74.4

69.8

77.4

14.5

(10.0)

(10.7)

$154.5

3Q 2025 3Q 2024

  • BMD ◼ Wood ◼ Eliminations

    3Q 2025 3Q 2024

    • BMD ◼ Wood

      Corporate

(mmcf)

6.0

5.0

4.0

3.0

2.0

($/cf)

$36

$32

$28

$24

$20

$16

$12

LVL

5.5

4.8

5.1

5.0

4.6 4.6

4.6

28.75

26.09

28.12

25.22

27.62

24.03

26.93

1Q 2Q 3Q 4Q

1Q 2Q 3Q 4Q

(mmelf) 80

70

60

50

40

30

($/melf)

$2,400

$2,200

$2,000

$1,800

$1,600

$1,400

$1,200

$1,000

I-joists

66

62

57

59

55

53

53

1Q 2Q 3Q 4Q

2,018

1,961

1,921

1,833

1,894

1,801

1,684

2024 2025

1Q 2Q 3Q 4Q

November 4, 2025

Sales Volume

(mmsf 3/8" basis) ($/msf 3/8" basis)

Net Sales Price

372 363

383

391 387

371

356

378

362

341

342

350

333 325

450 $400

400

350

$300

300

250

$200

200

150

100

1Q 2Q 3Q 4Q

$100

1Q 2Q 3Q 4Q

2024 2025

($ Millions) (% of Sales)

$2,000

$1,800

$1,600

$1,400

$1,200

$1,000

100

42

1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25

46

47

37

35

35

37

37

34

34

Commodity General Line EWP

42

44

42

41

19

20

21

21

21

23

22

80

60

1,6551,615

1,505

1,5671,556

1,407

1,439

$800 40

$600

$400 20

$200

$0 0

1Q 2Q 3Q 4Q

2024 2025

(EBITDA % of sales)

8.0% 8.0%

5.6%

5.9%

5.6%

5.9%

5.7%

4.5%

4.5%

6.0%

5.7%

4.9%

6.0% 6.0%

4.0% 4.0%

2.0% 2.0%

-%

1Q 2Q 3Q 4Q 1Q 2Q 3Q

-%

2023 2024 YTD Q3 2025

2024
2025 2015 - 2019 Average (3.1%)

  • Capital Expenditures

    • $187 million YTD 2025

      • Wood Products - $99 million

      • BMD - $88 million

    • $230 million - $250 million planned for 2025

      • Wood Products - $130 million -

        $140 million

      • BMD - $100 million - $110 million

    • $150 million - $170 million planned for 2026

      • Wood Products - $60 million -

        $70 million

      • BMD - $90 million - $100 million

  • Shareholder Returns

    • $27 million in dividends paid YTD September 2025

    • Board authorization of 4Q quarterly dividend of $0.22 per share

    • Approximately $120 million of share repurchases YTD October 2025

    • Board authorization of up to $300 million of common stock repurchases; replaced prior share repurchase authorization

Segment Adjusted EBITDA

Key Drivers

Wood Products

$0 - $15 million

EWP

  • Volumes: Low double-digit to mid-teen sequential declines

  • Prices: Low single-digit sequential declines

    Plywood

  • Volumes: High single-digit to low double-digit sequential declines

  • Prices: Quarter-to-date consistent with Q3 average, balance of quarter market dependent

    Manufacturing Costs

  • Lower volumes drive a modest sequential increase in per unit manufacturing costs

BMD

$40 - $55 million

Daily Sales Pace

  • October ~5% below Q3 average of $24.3 million/day, seasonal impacts expected to drive further decline as the quarter progresses

    62 Sales Days Gross Margins

  • 14.5% - 15.5%

Total Company

$30 - $60 million*

Depreciation & Amortization

  • $42 - $44 million

    Effective Tax Rate

  • ~26%-27%

    Share Count

  • ~37.0 million shares as of October 31st

* Net of approximately $10 million of estimated unallocated corporate costs

November 4, 2025

Attention: This is an excerpt of the original content. To continue reading it, access the original document here.