Boise Cascade Files Q2 2024 10-Q

TL;DR

**BCC Q2 10-Q FILED: Official financials out now.**

AI Summary

Boise Cascade Co. reported its second quarter 2024 results, ending June 30, 2024. The company's financial performance for the period is detailed in this 10-Q filing. Specific financial figures and operational highlights for the quarter are presented within the document.

Why It Matters

This filing provides investors with the official financial performance data for Boise Cascade Co. for the second quarter of 2024, crucial for understanding the company's current financial health and operational status.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently introduce new risks beyond those already associated with the company's business operations.

Key Players & Entities

• BOISE CASCADE Co (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240805 (date) — Filing Date
• 1111 WEST JEFFERSON STREET, SUITE 300 (address) — Business Address
• BOISE (location) — City
• ID (location) — State
• 83702 (postal_code) — ZIP Code
• (208) 384-6161 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• bcc-20240630.htm (10-Q) — 1148KB
• bcc6302024ex311.htm (EX-31.1) — 11KB
• bcc6302024ex312.htm (EX-31.2) — 11KB
• bcc6302024ex321.htm (EX-32.1) — 5KB
• bcc6302024ex322.htm (EX-32.2) — 6KB
• 0001328581-24-000079.txt ( ) — 7194KB
• bcc-20240630.xsd (EX-101.SCH) — 50KB
• bcc-20240630_cal.xml (EX-101.CAL) — 88KB
• bcc-20240630_def.xml (EX-101.DEF) — 270KB
• bcc-20240630_lab.xml (EX-101.LAB) — 701KB
• bcc-20240630_pre.xml (EX-101.PRE) — 482KB
• bcc-20240630_htm.xml (XML) — 993KB

—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 31 Guarantees 33 Seasonal Influences 33 Employees 33 Disclosures of Financial Market Risks 33 Environmental 34 Critical Accounting Estimates 34 New and Recently Adopted Accounting Standards 34 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 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 June 30 Six Months Ended June 30 2024 2023 2024 2023 (thousands, except per-share data) Sales $ 1,797,670 $ 1,815,219 $ 3,443,090 $ 3,359,548 Costs and expenses Materials, labor, and other operating expenses (excluding depreciation) 1,440,680 1,426,436 2,748,119 2,657,071 Depreciation and amortization 34,367 30,722 70,217 61,908 Selling and distribution expenses 149,783 139,205 293,893 267,993 General and administrative expenses 25,943 30,147 51,060 56,610 Other (income) expense, net ( 84 ) ( 1,266 ) ( 162 ) ( 1,611 ) 1,650,689 1,625,244 3,163,127 3,041,971 Income from operations 146,981 189,975 279,963 317,577 Foreign currency exchange gain (loss) ( 104 ) 320 ( 403 ) 247 Pension expense (excluding service costs) ( 37 ) ( 41 ) ( 74 ) ( 82 ) Interest expense ( 6,105 ) ( 6,339 ) ( 12,175 ) ( 12,700 ) Interest income 10,543 11,519 21,140 21,204 Change in fair value of interest rate swaps ( 487 ) 333 ( 707 ) ( 471 ) 3,810 5,792 7,781 8,198 Income before income taxes 150,791 195,767 287,744 325,775 Income tax provision ( 38,499 ) ( 49,447 ) ( 71,328 ) ( 82,722 ) Net income $ 112,292 $ 146,320 $ 216,416 $ 243,053 Weighted average common shares outstanding: Basic 39,412 39,675 39,510 39,634 Diluted 39,608 39,834 39,766 39,818 Net income per common share: Basic $ 2.85 $ 3.69 $ 5.48 $ 6.13 Diluted $ 2.84 $ 3.67 $ 5.44 $ 6.10 Dividends declared per common share $ 0.20 $ 3.15 $ 0.40 $ 3.30 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 June 30 Six Months Ended June 30 2024 2023 2024 2023 (thousands) Net income $ 112,292 $ 146,320 $ 216,416 $ 243,053 Other comprehensive income, net of tax Defined benefit pension plans Amortization of actua

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View this 10-Q filing on SEC EDGAR