BOISE CASCADE Co

For the period ended Mar 31, 2025. Filed May 5, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 5, 2025

BCC$70.42-3.0%Stored close · as of Nov 10, 2026

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Contents

Item 1. Financial Statements

Consolidated Statements of Operations

	Three Months EndedMarch 31
	2025	2024
(thousands, except per-share data)
Sales	$1,536,494	$1,645,420
Costs and expenses
Materials, labor, and other operating expenses (excluding depreciation)	1,276,183	1,307,439
Depreciation and amortization	37,121	35,850
Selling and distribution expenses	143,648	144,110
General and administrative expenses	24,997	25,117
Other (income) expense, net	26	(78)
	1,481,975	1,512,438
Income from operations	54,519	132,982
Foreign currency exchange loss	—	(299)
Pension expense (excluding service costs)	(33)	(37)
Interest expense	(5,312)	(6,070)
Interest income	5,510	10,597
Change in fair value of interest rate swaps	(490)	(220)
	(325)	3,971
Income before income taxes	54,194	136,953
Income tax provision	(13,846)	(32,829)
Net income	$40,348	$104,124
Weighted average common shares outstanding:
Basic	38,017	39,608
Diluted	38,215	39,956
Net income per common share:
Basic	$1.06	$2.63
Diluted	$1.06	$2.61
Dividends declared per common share	$0.21	$0.20

Consolidated Statements of Comprehensive Income

	Three Months EndedMarch 31
	2025	2024
(thousands)
Net income	$40,348	$104,124
Other comprehensive income, net of tax
Defined benefit pension plans
Amortization of actuarial loss, net of tax of $2 and $2, respectively	6	8
Other comprehensive income, net of tax	6	8
Comprehensive income	$40,354	$104,132

Consolidated Balance Sheets

	March 31,2025	December 31,2024
(thousands)
ASSETS
Current
Cash and cash equivalents	$561,781	$713,260
Receivables
Trade, less allowances of $3,335 and $5,506	450,664	321,820
Related parties	174	173
Other	23,379	22,772
Inventories	921,434	803,296
Prepaid expenses and other	22,092	24,747
Total current assets	1,979,524	1,886,068
Property and equipment, net	1,075,466	1,047,083
Operating lease right-of-use assets	47,412	49,673
Finance lease right-of-use assets	21,528	22,128
Timber deposits	6,865	6,916
Goodwill	171,945	171,945
Intangible assets, net	167,941	173,027
Deferred income taxes	3,561	3,705
Other assets	7,402	8,838
Total assets	$3,481,644	$3,369,383

Consolidated Balance Sheets (continued)

	March 31,2025	December 31,2024
(thousands, except per-share data)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current
Accounts payable
Trade	$511,292	$297,676
Related parties	1,406	1,315
Accrued liabilities
Compensation and benefits	71,187	127,415
Income taxes payable	5,469	—
Interest payable	5,072	9,957
Other	108,033	127,653
Total current liabilities	702,459	564,016
Debt
Long-term debt, net	446,389	446,167
Other
Compensation and benefits	39,016	42,006
Operating lease liabilities, net of current portion	41,164	43,174
Finance lease liabilities, net of current portion	26,473	26,883
Deferred income taxes	79,450	78,849
Other long-term liabilities	19,616	17,014
	205,719	207,926
Commitments and contingent liabilities
Stockholders' equity
Preferred stock, $0.01 par value per share; 50,000 shares authorized, no shares issued and outstanding	—	—
Common stock, $0.01 par value per share; 300,000 shares authorized, 45,248 and 45,139 shares issued, respectively	452	451
Treasury stock, 7,439 and 6,956 shares at cost, respectively	(396,284)	(341,974)
Additional paid-in capital	562,859	565,041
Accumulated other comprehensive loss	(454)	(460)
Retained earnings	1,960,504	1,928,216
Total stockholders' equity	2,127,077	2,151,274
Total liabilities and stockholders' equity	$3,481,644	$3,369,383

Consolidated Statements of Cash Flows

	Three Months EndedMarch 31
	2025	2024
(thousands)
Cash provided by (used for) operations
Net income	$40,348	$104,124
Items in net income not using (providing) cash
Depreciation and amortization, including deferred financing costs and other	37,960	36,621
Stock-based compensation	3,757	4,105
Pension expense	33	37
Deferred income taxes	741	5,062
Change in fair value of interest rate swaps	490	220
Other	(821)	55
Decrease (increase) in working capital, net of acquisitions
Receivables	(129,683)	(119,235)
Inventories	(118,138)	(103,331)
Prepaid expenses and other	(3,786)	(1,689)
Accounts payable and accrued liabilities	127,935	75,041
Income taxes payable	11,654	25,834
Other	1,034	618
Net cash provided by (used for) operations	(28,476)	27,462
Cash provided by (used for) investment
Expenditures for property and equipment	(53,205)	(34,330)
Acquisitions of businesses and facilities	—	(3,387)
Proceeds from sales of assets and other	980	559
Net cash used for investment	(52,225)	(37,158)
Cash provided by (used for) financing
Treasury stock purchased	(53,884)	(26,971)
Dividends paid on common stock	(10,485)	(11,205)
Tax withholding payments on stock-based awards	(5,907)	(10,980)
Other	(502)	(475)
Net cash used for financing	(70,778)	(49,631)
Net decrease in cash and cash equivalents	(151,479)	(59,327)
Balance at beginning of the period	713,260	949,574
Balance at end of the period	$561,781	$890,247

Consolidated Statements of Stockholders' Equity

Common Stock · Treasury Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Loss · Retained Earnings · Total
Shares · Amount · Shares · Amount
(thousands)
Balance at December 31, 2024	45,139	$451		6,956			$(341,974)		$565,041	$(460)		$1,928,216	$2,151,274
Net income									40,348	40,348
Other comprehensive income								6		6
Common stock issued	109	1									1
Treasury stock purchased			483		(53,884)						(53,884)
Stock-based compensation						3,757				3,757
Common stock dividends ($0.21 per share)									(8,060)	(8,060)
Tax withholding payments on stock-based awards						(5,938)				(5,938)
Other				(426)			(1)				(427)
Balance at March 31, 2025	45,248	$452		7,439			$(396,284)		$562,859	$(454)		$1,960,504	$2,127,077

Consolidated Statements of Stockholders' Equity (continued)

Common Stock · Treasury Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Loss · Retained Earnings · Total
Shares · Amount · Shares · Amount
(thousands)
Balance at December 31, 2023	44,983	$450		5,443			$(145,335)		$560,697	$(517)		$1,780,369	$2,195,664
Net income									104,124	104,124
Other comprehensive income								8		8
Common stock issued	144	1									1
Treasury stock purchased			206		(26,971)						(26,971)
Stock-based compensation						4,105				4,105
Common stock dividends ($0.20 per share)									(8,677)	(8,677)
Tax withholding payments on stock-based awards						(10,980)				(10,980)
Other				(71)			(1)				(72)
Balance at March 31, 2024	45,127	$451		5,649			$(172,377)		$553,821	$(509)		$1,875,816	$2,257,202

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.