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."
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