Boise Cascade Company reported net income of $8.7 million for the quarter ended December 31, 2025, a decrease from the prior year period, as Q4 results reflected seasonal softness in demand and ongoing market headwinds.
Sales for the Q4 2025 were $1.5 billion, and earnings were negatively impacted by approximately $6 million related to an accrual for legal proceedings. For the full year 2025, net income was $132.8 million on sales of $6.4 billion.
Total U.S. housing starts decreased by 4% in the Q4 and 1% for the full year compared to the same periods in 2024. Single-family housing starts, the key demand driver for the company's sales, fell by 7% in both the Q4 and the full year. Home builders moderated starts to avoid a buildup of finished home inventory as affordability remains a persistent challenge for homebuyers.
The company ended the Q4 with cash and cash equivalents of $477.2 million and total available liquidity of $872.3 million.
Looking ahead, Boise Cascade stated that single-family starts are expected to be flat or modestly down in 2026. Multi-family starts are expected to level off due to prohibitive capital costs and low rent growth. Industry experts expect flat home improvement spending in 2026 as high borrowing costs and low home turnover constrain demand. The company noted that long-term demand drivers, including an undersupply of housing and an aging housing stock, remain strong. Future product pricing is expected to remain dynamic, influenced by economic conditions, duties, tariffs, and seasonal demand patterns.
Boise Cascade is one of the largest U.S. wholesale distributors of building materials and a leading manufacturer of engineered wood products and plywood in North America.
