Boise Cascade reports sales gains
Boise Cascade posted first-quarter sales of $744.9 million, an increase of 26.9% compared with the same quarter last year.
Income from operations increased to $24.6 million, up from $6.2 million in the prior-year quarter.
Higher manufacturing costs, including wood costs, pushed expenses. Materials, labor and other operating expenses increased $134.7 million, or 26%, to $644.8 million for the three months ended March 31, compared with $510.1 million during the same period in the prior year.
Wood products sales, including sales to the company's Building Materials Distribution segment, increased 28%. Building Materials Distribution sales increased 29%.
“We expect to continue to experience demand below 20-year average historical levels for the products we manufacture and distribute,” the company wrote in its quarterly filing with the Securities and Exchange Commission. “However, the housing industry has shown signs of improvement in the U.S., and we remain optimistic that the recent improvement in demand for our products will continue.”