Published on 7 May 2024 on Zacks via Yahoo Finance

Boise Cascade (BCC) Q1 Earnings & Sales Top Estimates, Up Y/Y

Boise Cascade Company BCC reported splendid first-quarter 2024 results, wherein earnings and sales topped the Zacks Consensus Estimate and increased year over year.The uptrend in the company’s results was attributable to the seasonal tailwinds and strength in new single-family housing starts, resulting in sales volume growth. These factors aided the increased contributions from BCC’s two reportable segments.The company remains optimistic about the increasing trajectory of single-family housing starts, given the low supply of existing single-family homes, as this metric is the key driver of its sales. Also, it aims to effectively allocate its capital and ensure shareholder value, along with fostering its growth.

Detailed Discussion

Boise Cascade reported adjusted earnings per share (EPS) of $2.61, beating the Zacks Consensus Estimate of $2.30 by 13.5%. In the year-ago quarter, the company reported adjusted EPS of $2.43.Quarterly sales of $1.65 billion beat the consensus estimate of $1.56 million by 5.3% and grew year over year by 7% from the prior year’s figure of $1.54 billion.