Boise Cascade Co. Files 10-Q for Period Ending March 31, 2024

AI Summary

BOISE CASCADE Co (BCC) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Boise Cascade Co. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31. Boise Cascade Co. is incorporated in Delaware. The company's primary business is Wholesale - Lumber & Other Construction Materials.

Why It Matters

For investors and stakeholders tracking BOISE CASCADE Co, this filing contains several important signals. This filing provides investors and analysts with the latest financial data and operational updates for Boise Cascade Co. in the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, market position, and future outlook in the construction materials sector.

Risk Assessment

Risk Level: medium — BOISE CASCADE Co shows moderate risk based on this filing. The company operates in the wholesale lumber and construction materials sector, which can be subject to cyclical market fluctuations and economic downturns, impacting revenue and profitability.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue drivers and potential risks for Boise Cascade Co.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report)
• 2024-05-06 — Filing Date (10-Q submission)
• 2024-01-01 — Quarter Start Date (Q1 2024)
• 2023-01-01 — Prior Year Quarter Start Date (Q1 2023)

Key Players & Entities

• BOISE CASCADE Co (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-06 (date) — Filing date
• DE (jurisdiction) — State of incorporation
• 5030 (sic_code) — Standard Industrial Classification code
• 1111 WEST JEFFERSON STREET, SUITE 300 (address) — Business address
• BOISE (city) — Business address city
• ID (state) — Business address state

FAQ

Risk Factors

• Market Fluctuations [high — market]: The company's financial results are significantly influenced by the cyclical nature of the construction and real estate industries, which can lead to volatility in demand and pricing for its products.
• Supply Chain and Logistics [medium — operational]: Disruptions in the supply chain, transportation issues, or increased logistics costs can adversely affect the company's ability to deliver products and impact profitability.
• Interest Rate Sensitivity [medium — financial]: Changes in interest rates can affect the cost of borrowing and the demand for housing and construction, thereby impacting the company's financial performance.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share BCC New York Stock

Filing Documents

• bcc-20240331.htm (10-Q) — 958KB
• ex101formof2024restricteds.htm (EX-10.1) — 52KB
• ex102formof2024performance.htm (EX-10.2) — 65KB
• ex103formof2024directorres.htm (EX-10.3) — 30KB
• bcc3312024ex311.htm (EX-31.1) — 11KB
• bcc3312024ex312.htm (EX-31.2) — 11KB
• bcc3312024ex321.htm (EX-32.1) — 5KB
• bcc3312024ex322.htm (EX-32.2) — 6KB
• image_0.jpg (GRAPHIC) — 37KB
• 0001328581-24-000065.txt ( ) — 6787KB
• bcc-20240331.xsd (EX-101.SCH) — 50KB
• bcc-20240331_cal.xml (EX-101.CAL) — 87KB
• bcc-20240331_def.xml (EX-101.DEF) — 271KB
• bcc-20240331_lab.xml (EX-101.LAB) — 683KB
• bcc-20240331_pre.xml (EX-101.PRE) — 475KB
• bcc-20240331_htm.xml (XML) — 828KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Condensed Notes to Unaudited Quarterly Consolidated Financial Statements 8 1. Nature of Operations and Consolidation 8 2. Summary of Significant Accounting Policies 8 3. Income Taxes 12 4. Net Income Per Common Share 12 5. Acquisition 13 6. Goodwill and Intangible Assets 14 7. Debt 15 8. Leases 17 9. Stock-Based Compensation 19 10. Stockholders' Equity 20 11. Transactions With Related Party 21 12. Segment Information 22 13. Commitments, Legal Proceedings and Contingencies, and Guarantees 23 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Understanding Our Financial Information 24 Executive Overview 25 Factors That Affect Our Operating Results and Trends 25 Our Operating Results 27 Liquidity and Capital Resources 30 Guarantees 32 Seasonal Influences 32 Employees 33 Disclosures of Financial Market Risks 33 Environmental 33 Critical Accounting Estimates 33 New and Recently Adopted Accounting Standards 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 36 Item 6. Exhibits 36

Signatures

Signatures 37 ii Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Boise Cascade Company Consolidated Statements of Operations (unaudited) Three Months Ended March 31 2024 2023 (thousands, except per-share data) Sales $ 1,645,420 $ 1,544,329 Costs and expenses Materials, labor, and other operating expenses (excluding depreciation) 1,307,439 1,230,635 Depreciation and amortization 35,850 31,186 Selling and distribution expenses 144,110 128,788 General and administrative expenses 25,117 26,463 Other (income) expense, net ( 78 ) ( 345 ) 1,512,438 1,416,727 Income from operations 132,982 127,602 Foreign currency exchange loss ( 299 ) ( 73 ) Pension expense (excluding service costs) ( 37 ) ( 41 ) Interest expense ( 6,070 ) ( 6,361 ) Interest income 10,597 9,685 Change in fair value of interest rate swaps ( 220 ) ( 804 ) 3,971 2,406 Income before income taxes 136,953 130,008 Income tax provision ( 32,829 ) ( 33,275 ) Net income $ 104,124 $ 96,733 Weighted average common shares outstanding: Basic 39,608 39,593 Diluted 39,956 39,838 Net income per common share: Basic $ 2.63 $ 2.44 Diluted $ 2.61 $ 2.43 Dividends declared per common share $ 0.20 $ 0.15 See accompanying condensed notes to unaudited quarterly consolidated financial statements. 1 Table of Contents Boise Cascade Company Consolidated Statements of Comprehensive Income (unaudited) Three Months Ended March 31 2024 2023 (thousands) Net income $ 104,124 $ 96,733 Other comprehensive income, net of tax Defined benefit pension plans Amortization of actuarial loss, net of tax of $ 2 and $ 2 , respectively 8 6 Other comprehensive income, net of tax 8 6 Comprehensive income $ 104,132 $ 96,739 See accompanying condensed notes to unaudited quarterly consolidated financial statements. 2 Table of Contents Boise Cascade Company Consolidated Balance Sheets (unaudited) March 31, 2024 December 31, 2023 (thousands) ASSETS Current Cash and cash equivalents $ 890,247 $ 949,574 Receivables T

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View this 10-Q filing on SEC EDGAR