Boise Cascade Company reported a decline in financial performance for the fiscal year ending December 31, 2025, with total sales decreasing by 5% to $6.4 billion, down from $6.7 billion in 2024. The company's income from operations also fell significantly, dropping to $183.3 million from $490 million in the previous year. This decline was attributed to lower sales prices and volumes in both its Building Materials Distribution (BMD) and Wood Products segments, alongside increased operational costs. The BMD segment saw a decrease in income to $222.2 million, while the Wood Products segment reported a sharp drop to $5.8 million, primarily due to reduced prices for engineered wood products (EWP) and plywood.
In terms of operational metrics, Boise Cascade's BMD segment experienced a 4% decrease in sales, totaling $5.9 billion, driven by a decline in commodity sales and EWP sales. The Wood Products segment's sales fell by 12% to $1.6 billion, influenced by lower sales prices and volumes for laminated veneer lumber and I-joists. The company noted that U.S. housing starts, particularly single-family homes, decreased by 7% in 2025, which negatively impacted demand for its products. The average composite panel prices also dropped by 17%, further contributing to the revenue decline.
Strategically, Boise Cascade has been active in expanding its operations through acquisitions. In December 2025, the company acquired Holden Humphrey, a two-step distributor of building materials, for $33.4 million. This acquisition aligns with Boise Cascade's strategy to enhance its product offerings and market presence, particularly in the Northeast U.S. Additionally, the company has invested in modernizing its facilities, including significant upgrades at its Oakdale plywood mill, which are expected to improve operational efficiency.
As of December 31, 2025, Boise Cascade reported cash and cash equivalents of $477.2 million and total debt of $450 million. The company had $395.1 million in unused committed bank line availability, indicating a solid liquidity position despite the operational challenges faced during the year. Looking ahead, the company anticipates continued fluctuations in demand influenced by economic conditions, including mortgage rates and housing affordability. Boise Cascade's management remains focused on aligning production rates and inventory levels with market demand while pursuing growth opportunities through strategic investments and acquisitions.
About BOISE CASCADE Co
Boise Cascade Company is a leading North American manufacturer of engineered wood products (EWP) and plywood, and a major U.S. wholesale distributor of building materials. Its integrated business model combines wood products manufacturing—including laminated veneer lumber, I-joists, and plywood—with a nationwide distribution network serving dealers, home improvement centers, and industrial customers. Boise Cascade focuses on quality, customer service, and broad product offerings for residential, commercial, and industrial construction markets.
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