Boise Cascade Q1 sales stack up

Boise Cascade Company (BCC), reported that revenue rose 7% in the first quarter of 2024 versus prior year due to what the company called, “strong operating and financial performance.”

In the outlook for the year, Nate Jorgensen, CEO, said, “housing starts forecasts for 2024 are generally consistent with 2023 levels.

“Home affordability is still a challenge, but new residential construction is an important supply source for homebuyers.”

The Boise, Idaho, company reported Q1 revenue at $1.65 billion compared to $1.54 in the same quarter last year.

Net income was $104.1 million, or $2.61 per share, compared to net income of $96.7 million, or $2.43 per share in Q1 2023, said the company.

The Bottom Line: Boise Cascade sales rose 7% to $1.6 billion for Q1 2024.

CEO View: “I am pleased with the strong financial results that our team delivered during the first quarter. As expected, it was a period influenced by seasonal factors and the relative strength of new single-family starts,” said Jorgensen.

Company info: Click HERE to read the 2024 Q1 financial report from Boise Cascade.