BOISE CASCADE Co [BCC] reports quarterly net loss of $104.1 million
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Company Reports Revenue of $1.6 billion
BOISE CASCADE Co [BCC] has reported a net loss of $104.1 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $1.6 billion
Based in BOISE, Idaho, BOISE CASCADE Co operates in the WHOLESALE sector.
In the quarterly report for the period ended March 31, 2024, the company reported sales of $1.65 billion, showing an increase compared to the same period in the previous year where sales were $1.54 billion.
Costs and expenses for the current quarter totaled $1.51 billion, up from $1.42 billion in the previous year. This increase was primarily driven by higher materials, labor, and other operating expenses, along with increased selling and distribution expenses.
Income from operations for the quarter was $132.98 million, compared to $127.60 million in the same period last year, indicating improved operational performance.
The company recorded a net income attributable to the parent of $104.12 million for the quarter, showing growth from the previous year's figure of $96.73 million.
The earnings per share for the current quarter were $2.63 for basic and $2.61 for diluted, compared to $2.44 and $2.43 respectively in the previous year. This increase in earnings per share reflects the company's improved financial performance.
Additionally, dividends declared per common share also increased from $0.15 in the previous year to $0.20 in the current quarter, indicating the company's commitment to returning value to its shareholders.
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