Boise Cascade posted net income of $17.8 million on sales of $1,498.6 million for the quarter ended March 31, 2026, down from net income of $40.3 million on sales of $1,536.5 million a year earlier, as the company described a demand environment affected by geopolitical events, volatile mortgage rates, and severe weather.
The company said demand is closely tied to new residential construction, repair-and-remodel activity, and light commercial construction, with new single-family construction a key driver. It said total U.S. housing starts rose 1% year over year in the first quarter, while single-family housing starts fell 5%.
In Building Materials Distribution, sales fell 1% to $1,388.9 million as net sales prices decreased 3% and volumes increased 2%. By product line, general line sales rose 4%, commodity sales fell 5%, and engineered wood products sales fell 7%. Segment income fell to $32.9 million from $48.4 million, driven by $8.2 million higher selling and distribution expenses and a $6.5 million gross margin decline from lower margins across product lines, with the largest pressure in engineered wood products.
In Wood Products, sales fell 4% to $398.2 million, reflecting lower engineered wood product sales prices and volumes, partly offset by higher plywood volumes and prices. Average net selling prices in the first quarter fell 7% for laminated veneer lumber and 7% for I-joists year over year, while plywood prices rose 1%. Volumes fell 1% for laminated veneer lumber and 5% for I-joists, while plywood volumes rose 3%.
Compared with the fourth quarter of 2025, laminated veneer lumber prices were flat, I-joist prices rose 1%, and plywood prices rose 4%. Volumes rose 8% for laminated veneer lumber, 16% for I-joists, and 5% for plywood.
Boise Cascade guided to second-quarter 2026 Building Materials Distribution EBITDA of about $65 million to $80 million and Wood Products EBITDA of about $32 million to $47 million, with unallocated corporate costs of about negative $14 million to negative $12 million, for total company adjusted EBITDA of about $83 million to $115 million. It said commodity product pricing is expected to remain dynamic and that it will monitor demand signals and align production rates and inventory stocking positions accordingly.
