Boise Cascade : Q3 2025 Earnings Release Slides

About this update from Boise Cascade, L.l.c.

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 1,655 1,615 1,505 1,567 1,556 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 .

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