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Boise Cascade Company (NYSE: BCC) is a leader in the wood products industry with a robust nationwide distribution network. Headquartered in Boise, Idaho, the company excels in manufacturing and distributing quality wood products that help customers enhance their own businesses. Boise Cascade’s operations are divided into two primary segments: Wood Products and Building Materials Distribution.
The Wood Products segment specializes in engineered wood products (EWP) including laminated veneer lumber (LVL), I-joists, and laminated beams. Additionally, the company produces plywood and particleboard, maintaining a reputation for quality and innovation in the wood products market.
The Building Materials Distribution segment focuses on the wholesale distribution of a broad line of building materials. This includes not only Boise Cascade's own wood products but also externally sourced items such as plywood, OSB, siding, doors, metal products, insulation, and roofing. This segment is the company's primary revenue generator, highlighting Boise Cascade’s significance in the building materials distribution industry.
Boise Cascade has a proven track record of providing superior wood products and building materials to its customers. The company’s strategic partnerships and continual investments in product development ensure a competitive edge in both segments. Recent achievements include expanding their distribution network and enhancing product offerings to meet the evolving needs of the construction industry.
Investors eyeing Boise Cascade can look forward to the company’s commitment to growth and innovation, bolstered by a strong financial standing and a focus on sustainable practices. With its stock traded publicly on the New York Stock Exchange, Boise Cascade remains a significant player in the construction and building materials sector.
Boise Cascade reported a strong second quarter 2021, with net income rising to $302.6 million or $7.62 per share, compared to $33.6 million or $0.85 per share in Q2 2020. Sales surged 97% to $2.4 billion, driven by robust housing starts and higher commodity prices. Wood Products and Building Materials Distribution segments both showed significant revenue and income increases. However, the company faces challenges from declining commodity prices and potential impacts on construction activity as home improvement demand wanes.
Boise Cascade Company (NYSE: BCC) has promoted Tom Hoffmann to senior vice president, acknowledging his 40-year tenure and leadership in the Building Materials Distribution division. Hoffmann began as a sales trainee and has held multiple roles, including vice president of operations since 2016. CEO Nate Jorgensen praised his commitment to operational excellence and safety, emphasizing strong relationships built with associates, customers, and suppliers. This move signals a reinforcement of leadership as the company continues to enhance its market position in engineered wood products and building materials.
Boise Cascade Company (NYSE: BCC) has declared a quarterly dividend of $0.10 per share for common stockholders. The payment will occur on September 15, 2021, for those recorded as stockholders on September 1, 2021. Future dividend declarations will depend on various factors, including the Company’s operations, earnings, legal requirements, and existing contractual obligations. Boise Cascade is a major player in engineered wood products and plywood production in North America, as well as a leading distributor of building products.
Boise Cascade Company (NYSE: BCC) will host a webcast and conference call on August 3, 2021, at 11 a.m. Eastern to discuss its second quarter earnings. Investors can dial 844-795-4410 (passcode 6669007) for the call or access the webcast through the Investor Relations section of www.bc.com. A replay will be available from August 3 at 2 p.m. through August 10, with specific numbers for U.S. and international callers. Boise Cascade is a leading producer of engineered wood products and plywood in North America.
Boise Cascade Company (NYSE: BCC) has announced a supplemental dividend of $2.00 per share, scheduled for payment on July 30, 2021, to stockholders of record as of July 15, 2021. CEO Nate Jorgensen emphasized the company's balanced capital allocation strategy, indicating strong cash returns to shareholders while maintaining flexibility for future investments and growth opportunities. Future dividends will depend on several factors including legal requirements, company performance, and financial conditions.
Boise Cascade reported a significant increase in net income to $149.2 million, or $3.76 per share, on $1.8 billion in sales for Q1 2021, compared to $12.2 million, or $0.31 per share, on $1.2 billion in sales for Q1 2020. The surge was driven by higher wood product prices and strong demand in residential construction. Wood Products and Building Materials Distribution segments both saw substantial sales and income growth. With $802.3 million in liquidity, the outlook remains positive despite ongoing supply chain constraints and pandemic impacts.
Boise Cascade Company (NYSE: BCC) announced a quarterly dividend of $0.10 per share, payable on June 15, 2021 to shareholders on record as of June 1, 2021. Future dividends will be determined by the Board of Directors based on legal requirements, company performance, and other financial conditions. Boise Cascade is a major manufacturer of engineered wood products and plywood in North America and a key distributor of building products.
Boise Cascade Company (NYSE: BCC) is set to host a webcast and conference call on May 7, 2021, at 11 a.m. Eastern to discuss its first quarter earnings. Participants can join the call by dialing 844-795-4410 (international 661-378-9637) with passcode 5849652. A replay will be available from May 7 at 2 p.m. Eastern through May 14. Boise Cascade is recognized as a major producer of engineered wood products and plywood in North America and a leading wholesale distributor of building products.
Boise Cascade Company (NYSE: BCC) announced that Frank Elfering, VP & General Manager of Western Region Operations for the Building Materials Distribution (BMD) division, will leave the company effective April 30, 2021. Elfering has served the company for 22 years, contributing to growth in the distribution sector. CEO Nate Jorgensen expressed gratitude for Elfering's service, while EVP Jeff Strom emphasized the company's talent development strategy to ensure leadership continuity. Boise Cascade is a leading producer of engineered wood products and a top wholesale distributor of building products in North America.
Boise Cascade Company (NYSE: BCC) has announced the retirement of Chief Financial Officer (CFO) Wayne Rancourt, effective May 14, 2021. Kelly Hibbs, currently the Vice President and Controller, will take over as CFO and Treasurer upon Rancourt's departure. Rancourt has played a significant role in the company's growth and financial stability since joining in 1983 and serving as CFO since 2009. Hibbs, who has been with Boise Cascade since 1996, is expected to ensure a smooth transition in leadership.
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