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Rubber and Wood February 24, 2021 06:40:27 PM

Boise Cascade Declared Q4 and Full Year 2020 Results

Paul Ploumis
ScrapMonster Author
The Building Materials Distribution (BMD) segment sales increased 35% to $1,330.1 million from $987.0 million.

Boise Cascade Declared Q4 and Full Year 2020 Results

SEATTLE (Scrap Monster): Boise Cascade Company reported fourth quarter and full year 2020 results.

The company reported fourth quarter net income of $26.0 million, or $0.66 per share, on sales of $1.5 billion. For the full year 2020, it reported net income of $175.0 million, or $4.44 per share, on sales of $5.5 billion. The Q4 and full-year 2020 earnings per share were negatively impacted by $1.10 per share and $1.69 per share, respectively.

The wood products sales surged higher by 21% from $296.3 million for the three months ended December 31, 2019 to $358.7 million in the corresponding quarter last year. The surge in sales was mainly on account of higher plywood and lumber prices, as well as higher sales volumes for I-joists. The segment income increased from $8.1 million to $32.8 million over the prior year quarter.

The Building Materials Distribution (BMD) segment sales increased 35% to $1,330.1 million from $987.0 million. The segment income increased to $67.1 million from $26.3 million in the comparative prior year quarter.

Boise Cascade expects capital expenditures in 2021 to total approximately $80 million to $90 million. It expects the favorable demand environment for new residential construction to continue in 2021.

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