10-Q · May 4, 2026
Boise Cascade Company reported strong results for Q1 2026, with revenue of $1.499 billion and an EPS of $0.50, both exceeding analyst expectations. The company's profitability improved with a notable increase in gross…
Earnings analysis · 10-Q
BCC earnings analysis
Filed August 3, 2026 · Our reading of the company's report
The latest report
Boise Cascade reported Q2 revenue of $1.831 billion and diluted EPS of $1.63, representing strong sequential improvement from Q1 and a beat of the provided $1.14 EPS consensus estimate. Revenue rose 5.3% year over year,…
Read full summary
Boise Cascade reported Q2 revenue of $1.831 billion and diluted EPS of $1.63, representing strong sequential improvement from Q1 and a beat of the provided $1.14 EPS consensus estimate. Revenue rose 5.3% year over year, but EPS was $0.01 below Q2 2025 and reported net income declined 7% to $57.3 million, tempering the top-line improvement. The principal new filing-specific risk is a composite-decking supplier transition initiated after a July 13, 2026 termination notice; management provided Q3 Adjusted EBITDA guidance of $82 million to $114 million but no revenue or EPS guidance.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.63
What stood out
-
Revenue returned to year-over-year growth
Q2 revenue was $1.831 billion, up $331 million, or 22.1%, from $1.500 billion in Q1 2026 and up $92 million, or 5.3%, from $1.739 billion in Q2 2025.
-
EPS rebounded sharply sequentially
Diluted EPS of $1.63 increased $1.13 from $0.50 in Q1 2026 and exceeded the $1.14 consensus estimate by $0.49. EPS was essentially flat to modestly lower versus $1.64 in Q2 2025.
-
Buyback activity remained meaningful
The company repurchased 574,064 shares during Q2 at an average $74.48 per share. The remaining authorization was $130.4 million at June 30, 2026, under the board's $300.0 million authorization approved October 30, 2025.
-
Q3 EBITDA outlook provided
Management's Q3 outlook calls for total Adjusted EBITDA of approximately $82 million to $114 million, including $53 million to $68 million at BMD and $42 million to $57 million at Wood Products.
What to watch
-
Composite-decking supplier transition risk
A new risk factor follows termination notice on July 13, 2026 from the primary composite-decking supplier and a July 31, 2026 agreement with a replacement sole offering. Management warns the transition could cause availability disruptions, longer lead times, customer losses, discounting, inventory write-offs or reserves, and lower sales and profitability.
-
Year-over-year earnings did not grow
Despite the sequential rebound, diluted EPS of $1.63 was $0.01 below Q2 2025 EPS of $1.64, while prior analysis reports net income declined 7% year over year to $57.3 million on $1.831 billion of sales.
-
Limited and wide-ranging forward outlook
No numeric revenue or EPS outlook was included in the filing; the only quantitative Q3 outlook is Adjusted EBITDA of $82 million to $114 million. This leaves a $32 million range in the company-level EBITDA outlook.
Management's outlook
The filing discusses Q3 2026 Adjusted EBITDA of approximately $82 million to $114 million, comprising BMD EBITDA of approximately $53 million to $68 million and Wood Products EBITDA of approximately $42 million to $57 million. It provides no revenue or EPS outlook and does not disclose a comparable prior outlook.
Earlier filings 4
10-K · February 24, 2026
Boise Cascade describes a strategy built on an integrated distribution + manufacturing model, shifting sales mix toward higher‑margin general line and engineered wood products (EWP) while investing in mill…
10-Q · August 4, 2025
Boise Cascade reported Q2 sales of $1.740B, down vs. prior-year quarter but up sequentially; diluted EPS was $1.64 (miss vs. $1.72 consensus). Gross margin and operating margin remain compressed vs. year-ago (17.2% and…
10-Q · November 4, 2024
Boise Cascade reported Q3 sales of $1,713,724 (thousands) and net income of $91,038 (thousands), with diluted EPS of $2.33. Revenue and margins declined versus the prior-year quarter while the company generated positive…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.