BOISE CASCADE Co

For the period ended Mar 31, 2026. Filed May 4, 2026.

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, 2026 · Filed May 4, 2026

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

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

Consolidated Statements of Operations

	Three Months EndedMarch 31
	2026	2025
(thousands, except per-share data)
Sales	$1,498,614	$1,536,494
Costs and expenses
Materials, labor, and other operating expenses (excluding depreciation)	1,255,070	1,276,183
Depreciation and amortization	39,053	37,121
Selling and distribution expenses	150,444	143,648
General and administrative expenses	26,300	24,997
Other (income) expense, net	(38)	26
	1,470,829	1,481,975
Income from operations	27,785	54,519
Foreign currency exchange loss	(241)	—
Pension expense (excluding service costs)	(30)	(33)
Interest expense	(6,019)	(5,312)
Interest income	2,937	5,510
Change in fair value of interest rate swaps	—	(490)
	(3,353)	(325)
Income before income taxes	24,432	54,194
Income tax provision	(6,590)	(13,846)
Net income	$17,842	$40,348
Weighted average common shares outstanding:
Basic	35,909	38,017
Diluted	36,020	38,215
Net income per common share:
Basic	$0.50	$1.06
Diluted	$0.50	$1.06
Dividends declared per common share	$0.22	$0.21

Consolidated Statements of Comprehensive Income

	Three Months EndedMarch 31
	2026	2025
(thousands)
Net income	$17,842	$40,348
Other comprehensive income, net of tax
Defined benefit pension plans
Amortization of actuarial loss, net of tax of $3 and $2, respectively	7	6
Other comprehensive income, net of tax	7	6
Comprehensive income	$17,849	$40,354

Consolidated Balance Sheets

	March 31,2026	December 31,2025
(thousands)
ASSETS
Current
Cash and cash equivalents	$338,667	$477,215
Receivables
Trade, less allowances of $5,659 and $5,618	461,012	315,944
Related parties	283	86
Other	28,941	24,698
Inventories	877,795	795,724
Prepaid expenses and other	27,544	40,751
Total current assets	1,734,242	1,654,418
Property and equipment, net	1,155,967	1,157,261
Operating lease right-of-use assets	52,971	55,980
Finance lease right-of-use assets	41,772	11,825
Timber deposits	7,501	8,058
Goodwill	185,386	185,384
Intangible assets, net	154,405	159,665
Deferred income taxes	2,913	3,041
Other assets	6,467	6,311
Total assets	$3,341,624	$3,241,943

Consolidated Balance Sheets (continued)

	March 31,2026	December 31,2025
(thousands, except per-share data)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current
Accounts payable
Trade	$428,963	$254,622
Related parties	2,194	915
Accrued liabilities
Compensation and benefits	93,429	103,066
Interest payable	5,285	10,176
Other	97,159	124,297
Total current liabilities	627,030	493,076
Debt
Long-term debt, net	448,148	445,405
Other
Compensation and benefits	35,462	39,354
Operating lease liabilities, net of current portion	46,602	49,778
Finance lease liabilities, net of current portion	44,828	15,631
Deferred income taxes	104,574	105,551
Other long-term liabilities	19,047	18,270
	250,513	228,584
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, 35,503 and 36,190 shares issued, respectively	355	362
Additional paid-in capital	568,433	571,220
Accumulated other comprehensive loss	(469)	(476)
Retained earnings	1,447,614	1,503,772
Total stockholders' equity	2,015,933	2,074,878
Total liabilities and stockholders' equity	$3,341,624	$3,241,943

Consolidated Statements of Cash Flows

	Three Months EndedMarch 31
	2026	2025
(thousands)
Cash provided by (used for) operations
Net income	$17,842	$40,348
Items in net income not using (providing) cash
Depreciation and amortization, including deferred financing costs and other	39,923	37,960
Stock-based compensation	3,458	3,757
Deferred income taxes	(895)	741
Change in fair value of interest rate swaps	—	490
Other	(16)	(788)
Decrease (increase) in working capital
Receivables	(139,930)	(129,683)
Inventories	(82,071)	(118,138)
Prepaid expenses and other	(3,242)	(3,786)
Accounts payable and accrued liabilities	144,745	127,935
Income taxes payable	6,918	11,654
Other	(2,714)	1,034
Net cash used for operations	(15,982)	(28,476)
Cash provided by (used for) investment
Expenditures for property and equipment	(39,824)	(53,205)
Acquisitions of businesses and facilities	(2)	—
Proceeds from sales of assets and other	353	980
Net cash used for investment	(39,473)	(52,225)
Cash provided by (used for) financing
Repurchase of common stock	(65,513)	(53,884)
Dividends paid on common stock	(10,370)	(10,485)
Tax withholding payments on stock-based awards	(6,244)	(5,907)
Other	(966)	(502)
Net cash used for financing	(83,093)	(70,778)
Net decrease in cash and cash equivalents	(138,548)	(151,479)
Balance at beginning of the period	477,215	713,260
Balance at end of the period	$338,667	$561,781

Consolidated Statements of Stockholders' Equity

Common Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Loss · Retained Earnings · Total
Shares · Amount
(thousands)
Balance at December 31, 2025	36,190	$362		$571,220		$(476)			$1,503,772		$2,074,878
Net income					17,842			17,842
Other comprehensive income				7				7
Common stock issued	144	1							1
Repurchase of common stock	(831)	(8)					(66,042)			(66,050)
Stock-based compensation			3,458					3,458
Common stock dividends ($0.22 per share)					(7,958)			(7,958)
Tax withholding payments on stock-based awards			(6,244)					(6,244)
Other			(1)					(1)
Balance at March 31, 2026	35,503	$355		$568,433		$(469)			$1,447,614		$2,015,933

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, 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

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