BOISE CASCADE Co

For the period ended Sep 30, 2025. Filed Nov 3, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 3, 2025

BCC$70.42-3.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

Consolidated Statements of Operations

	Three Months EndedSeptember 30		Nine Months EndedSeptember 30
	2025	2024	2025	2024
(thousands, except per-share data)
Sales	$1,667,806	$1,713,724	$4,944,414	$5,156,814
Costs and expenses
Materials, labor, and other operating expenses (excluding depreciation)	1,404,311	1,375,719	4,121,953	4,123,838
Depreciation and amortization	42,378	36,861	116,908	107,078
Selling and distribution expenses	165,074	157,522	470,537	451,415
General and administrative expenses	25,763	26,172	77,230	77,232
Other (income) expense, net	(2,049)	94	(9,592)	(68)
	1,635,477	1,596,368	4,777,036	4,759,495
Income from operations	32,329	117,356	167,378	397,319
Foreign currency exchange gain (loss)	(293)	300	800	(103)
Pension expense (excluding service costs)	(33)	(37)	(98)	(111)
Interest expense	(5,327)	(6,082)	(15,822)	(18,257)
Interest income	4,181	10,168	14,314	31,308
Change in fair value of interest rate swaps	—	(866)	(925)	(1,573)
	(1,472)	3,483	(1,731)	11,264
Income before income taxes	30,857	120,839	165,647	408,583
Income tax provision	(9,088)	(29,801)	(41,545)	(101,129)
Net income	$21,769	$91,038	$124,102	$307,454
Weighted average common shares outstanding:
Basic	37,385	38,848	37,692	39,286
Diluted	37,509	39,063	37,828	39,521
Net income per common share:
Basic	$0.58	$2.34	$3.29	$7.83
Diluted	$0.58	$2.33	$3.28	$7.78
Dividends declared per common share	$0.22	$5.21	$0.64	$5.61

Consolidated Statements of Comprehensive Income

	Three Months EndedSeptember 30		Nine Months EndedSeptember 30
	2025	2024	2025	2024
(thousands)
Net income	$21,769	$91,038	$124,102	$307,454
Other comprehensive income, net of tax
Defined benefit pension plans
Amortization of actuarial loss, net of tax of $2, $3, $6, and $7, respectively	6	7	18	22
Other comprehensive income, net of tax	6	7	18	22
Comprehensive income	$21,775	$91,045	$124,120	$307,476

Consolidated Balance Sheets

	September 30,2025	December 31,2024
(thousands)
ASSETS
Current
Cash and cash equivalents	$511,770	$713,260
Receivables
Trade, less allowances of $4,922 and $5,506	438,443	321,820
Related parties	221	173
Other	24,286	22,772
Inventories	844,358	803,296
Prepaid expenses and other	33,678	24,747
Total current assets	1,852,756	1,886,068
Property and equipment, net	1,129,593	1,047,083
Operating lease right-of-use assets	57,366	49,673
Finance lease right-of-use assets	12,236	22,128
Timber deposits	9,757	6,916
Goodwill	171,945	171,945
Intangible assets, net	157,771	173,027
Deferred income taxes	3,283	3,705
Other assets	7,304	8,838
Total assets	$3,402,011	$3,369,383

Consolidated Balance Sheets (continued)

	September 30,2025	December 31,2024
(thousands, except per-share data)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current
Accounts payable
Trade	$354,399	$297,676
Related parties	2,117	1,315
Accrued liabilities
Compensation and benefits	104,688	127,415
Interest payable	5,300	9,957
Other	131,563	127,653
Total current liabilities	598,067	564,016
Debt
Long-term debt, net	445,145	446,167
Other
Compensation and benefits	38,679	42,006
Operating lease liabilities, net of current portion	51,381	43,174
Finance lease liabilities, net of current portion	15,915	26,883
Deferred income taxes	89,554	78,849
Other long-term liabilities	19,885	17,014
	215,414	207,926
Commitments and contingent liabilities
Stockholders' equity
Preferred stock, $0.01 par value per share; 50,000 shares authorized, no shares issued and outstanding	—	—
Common stock, $0.01 par value per share; 300,000 shares authorized, 37,163 and 45,139 shares issued, respectively	371	451
Treasury stock, — and 6,956 shares at cost, respectively	—	(341,974)
Additional paid-in capital	569,169	565,041
Accumulated other comprehensive loss	(442)	(460)
Retained earnings	1,574,287	1,928,216
Total stockholders' equity	2,143,385	2,151,274
Total liabilities and stockholders' equity	$3,402,011	$3,369,383

Consolidated Statements of Cash Flows

	Nine Months EndedSeptember 30
	2025	2024
(thousands)
Cash provided by (used for) operations
Net income	$124,102	$307,454
Items in net income not using (providing) cash
Depreciation and amortization, including deferred financing costs and other	119,634	109,531
Stock-based compensation	10,068	11,668
Pension expense	98	111
Deferred income taxes	11,243	15,096
Change in fair value of interest rate swaps	925	1,573
Other	(11,336)	322
Decrease (increase) in working capital, net of acquisitions
Receivables	(111,725)	(51,192)
Inventories	(42,462)	(80,739)
Prepaid expenses and other	(7,336)	(6,697)
Accounts payable and accrued liabilities	38,693	44,547
Income taxes payable	(6,248)	(3,970)
Other	(2,524)	(3,952)
Net cash provided by operations	123,132	343,752
Cash provided by (used for) investment
Expenditures for property and equipment	(187,447)	(135,760)
Acquisitions of businesses and facilities	—	(5,581)
Proceeds from sales of assets and other	11,051	1,197
Net cash used for investment	(176,396)	(140,144)
Cash provided by (used for) financing
Borrowings of long-term debt, including revolving credit facility	50,000	—
Payments of long-term debt, including revolving credit facility	(50,000)	—
Treasury stock purchased	(112,702)	(158,509)
Dividends paid on common stock	(26,582)	(220,485)
Tax withholding payments on stock-based awards	(5,939)	(11,141)
Payments of deferred financing costs	(1,819)	—
Other	(1,184)	(1,448)
Net cash used for financing	(148,226)	(391,583)
Net decrease in cash and cash equivalents	(201,490)	(187,975)
Balance at beginning of the period	713,260	949,574
Balance at end of the period	$511,770	$761,599

Consolidated Statements of Stockholders' Equity

Common Stock · Treasury Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Loss · Retained Earnings · Total
Shares · Amount · Shares · Amount
(thousands)
Balance at December 31, 2024	45,139	$451		6,956			$(341,974)		$565,041		$(460)			$1,928,216		$2,151,274
Net income									40,348		40,348
Other comprehensive income								6			6
Common stock issued	109	1										1
Treasury stock purchased			483		(53,884)							(53,884)
Stock-based compensation						3,757					3,757
Common stock dividends ($0.21 per share)									(8,060)		(8,060)
Tax withholding payments on stock-based awards						(5,938)					(5,938)
Other				(426)			(1)					(427)
Balance at March 31, 2025	45,248	$452		7,439			$(396,284)		$562,859		$(454)			$1,960,504		$2,127,077
Net income									61,985		61,985
Other comprehensive income								6			6
Treasury stock purchased			354		(32,127)							(32,127)
Stock-based compensation						3,253					3,253
Common stock dividends ($0.21 per share)									(7,815)		(7,815)
Tax withholding payments on stock-based awards						(1)					(1)
Other				(321)							(321)
Balance at June 30, 2025	45,248	$452		7,793			$(428,732)		$566,111		$(448)			$2,014,674		$2,152,057
Net income									21,769		21,769
Other comprehensive income								6			6
Repurchase of common stock	(292)	(3)								(25,203)			(25,206)
Treasury stock retirement	(7,793)	(78)		(7,793)			428,732					(428,654)			—
Stock-based compensation						3,058					3,058
Common stock dividends ($0.22 per share)									(8,299)		(8,299)
Balance at September 30, 2025	37,163	$371		—			$—		$569,169		$(442)			$1,574,287		$2,143,385

Consolidated Statements of Stockholders' Equity (continued)

Common Stock · Treasury Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Loss · Retained Earnings · Total
Shares · Amount · Shares · Amount
(thousands)
Balance at December 31, 2023	44,983	$450		5,443			$(145,335)		$560,697	$(517)		$1,780,369	$2,195,664
Net income									104,124	104,124
Other comprehensive income								8		8
Common stock issued	144	1									1
Treasury stock purchased			206		(26,971)						(26,971)
Stock-based compensation						4,105				4,105
Common stock dividends ($0.20 per share)									(8,677)	(8,677)
Tax withholding payments on stock-based awards						(10,980)				(10,980)
Other				(71)			(1)				(72)
Balance at March 31, 2024	45,127	$451		5,649			$(172,377)		$553,821	$(509)		$1,875,816	$2,257,202
Net income									112,292	112,292
Other comprehensive income								7		7
Common stock issued	3	—									—
Treasury stock purchased			472		(61,887)						(61,887)
Stock-based compensation						3,818				3,818
Common stock dividends ($0.20 per share)									(7,680)	(7,680)
Tax withholding payments on stock-based awards						(160)				(160)
Other				(615)			(1)				(616)
Balance at June 30, 2024	45,130	$451		6,121			$(234,879)		$557,478	$(502)		$1,980,428	$2,302,976
Net income									91,038	91,038
Other comprehensive income								7		7
Treasury stock purchased			554		(69,651)						(69,651)
Stock-based compensation						3,745				3,745
Common stock dividends ($5.21 per share)									(203,985)	(203,985)
Other				(697)						(697)
Balance at September 30, 2024	45,130	$451		6,675			$(305,227)		$561,223	$(495)		$1,867,481	$2,123,433

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.