Boise Cascade Company reported net income of $37.1 million, or $0.94 per share, on sales of $1.2 billion for the 1Q ended March 31, 2018. In the 1Q 2018, total U.S. housing starts increased 8% compared to the same period last year. Single-family starts, which are the primary demand driver of sales, increased 7% and multi-family starts increased 10% in the 1Q 2018.
“Both of our businesses reported very strong results for the first quarter. While strong commodity prices provided notable tailwinds to our financial results, both businesses executed well to capture opportunities within the marketplace during the quarter,” commented Tom Corrick, CEO. “I’m also very pleased that we completed the acquisition of Lumberman’s Wholesale Distributors in Nashville, Tennessee, in late April. Lumberman’s enjoys an excellent reputation in the Nashville market and this acquisition represents an important step in our distribution group’s ongoing process to fill in underserved markets across the United States.”
Boise Cascade Company is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products.
