BOISE, ID - Boise Cascade Holdings attributes a mild winter that helped jump start home building construction as a major driver of its improved first-quarter sales and profitability.
Boise Cascade posted Q1 sales totaling $587 million, up 21% from the same period a year ago. Net earnings of $14.6 million more than doubled those for Q1 2011.
The Building Materials Distribution (BMD) segment of Boise Cascade increased by 19% in Q1 2012 and prices climbed 3%. Wood roducts sales reached $211.1 million in Q! 2012, up 36% from the same quarter a year ago. Boise Cascade said the increase in sales was due primarily to increased plywood volumes and prices and increased engineered wood product shipments, offset in part by lower EWP sales prices.
"The demand level in the first quarter was stronger following the tough industry conditions and weather in 2011," said Tom Carlile, CEO of Boise Cascade's Building Materials Distribution segment. "We are hopeful the increase in sales activity and our earnings will carry through to the rest of the year. Our liquidity puts us in a good position to respond to any improvement in the markets and take advantage of business opportunities."
Boise Cascade posted a $46.4 million loss in 2011.
Rich Christianson is Associate Publisher and Editor at Large of Woodworking Network. During his 25+ years covering the wood products industry, Rich has toured hundreds of manufacturing plants throughout North America, Europe and Asia. His reporting has covered everything from the state of the industry and impact of wood imports to technology and environmental issues. In his current capacity he is responsible for editing the daily Woodworking Network Update newsletter and coordinating events including the annual Cabinets & Closets Conference & Expo and Canada’s biennial Woodworking Machinery & Supply Expo.
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