BOISE CASCADE Co
For the period ended Jun 30, 2026. Filed Aug 3, 2026.
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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.
Jun 30, 2026 · Filed Aug 3, 2026
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11. Segment Information
- Segment Information
We operate our business usingtwo reportable segments: BMD and Wood Products. There are no differences in our basis of measurement of segment profit or loss from those disclosed in Note 15, Segment Information, of the Notes to Consolidated Financial Statements in "Item 8. Financial Statements and Supplementary Data" in our 2025 Form 10-K.
BMD and Wood Products segment sales to external customers, including related parties, by product line, are as follows:
| Three Months EndedJune 30 | Six Months EndedJune 30 | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| (millions) | ||||
| Building Materials Distribution | ||||
| General line | $796.3 | $733.7 | $1,421.3 | $1,333.5 |
| Commodity | 590.5 | 551.8 | 1,083.3 | 1,068.7 |
| Engineered wood products | 310.7 | 329.4 | 581.8 | 619.9 |
| 1,697.4 | 1,614.9 | 3,086.4 | 3,022.0 | |
| Wood Products (a) | ||||
| LVL (b) | 14.2 | 14.3 | 24.6 | 31.0 |
| I-joists (b) | 6.9 | 8.7 | 11.7 | 19.9 |
| Other engineered wood products (b) | 3.0 | 5.7 | 5.1 | 12.5 |
| Plywood and veneer | 72.7 | 61.6 | 131.9 | 121.4 |
| Lumber | 13.4 | 12.6 | 25.6 | 25.2 |
| Byproducts | 15.7 | 15.8 | 31.1 | 31.5 |
| Other | 8.0 | 6.5 | 13.6 | 13.0 |
| 133.9 | 125.2 | 243.6 | 254.6 | |
| $1,831.3 | $1,740.1 | $3,329.9 | $3,276.6 | |
(a) Amounts represent sales to external customers. Sales are calculated after intersegment sales eliminations to our BMD segment.
(b) Sales of EWP to external customers are net of the cost of all EWP rebates and sales allowances provided at various stages of the supply chain (including distributors, dealers, and homebuilders). For the six months ended June 30, 2026 and 2025, approximately 77% and 74%, respectively, of Wood Products' EWP sales volumes were to our BMD segment.
An analysis of our operations by segment is as follows:
| Three Months EndedJune 30 | Six Months EndedJune 30 | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| (thousands) | ||||
| Building Materials Distribution | ||||
| Sales | $1,697,494 | $1,614,915 | $3,086,442 | $3,022,031 |
| Less: | ||||
| Materials, labor, and other operating expenses (excluding depreciation) (a) | 1,439,101 | 1,365,755 | 2,628,337 | 2,566,695 |
| Selling and distribution expenses | 161,674 | 150,865 | 302,948 | 283,964 |
| Other segment items (b) | 11,097 | 6,447 | 21,310 | 16,745 |
| Depreciation and amortization | 15,505 | 13,815 | 30,788 | 28,177 |
| 1,627,377 | 1,536,882 | 2,983,383 | 2,895,581 | |
| Segment income from operations | $70,117 | $78,033 | $103,059 | $126,450 |
| Wood Products | ||||
| Sales | $459,603 | $447,235 | $857,807 | $863,080 |
| Less: | ||||
| Materials, labor, and other operating expenses (excluding depreciation) (a) | 390,877 | 398,451 | 743,862 | 760,697 |
| Other segment items (b) | 16,355 | 11,492 | 29,617 | 24,896 |
| Depreciation and amortization | 26,718 | 23,316 | 50,183 | 45,802 |
| 433,950 | 433,259 | 823,662 | 831,395 | |
| Segment income from operations | $25,653 | $13,976 | $34,145 | $31,685 |
| Reconciliation of sales | ||||
| Building Materials Distribution | $1,697,494 | $1,614,915 | $3,086,442 | $3,022,031 |
| Wood Products | 459,603 | 447,235 | 857,807 | 863,080 |
| Intersegment eliminations (c) | (325,762) | (322,036) | (614,300) | (608,503) |
| Total net sales | $1,831,335 | $1,740,114 | $3,329,949 | $3,276,608 |
| Reconciliation of income | ||||
| Building Materials Distribution | $70,117 | $78,033 | $103,059 | $126,450 |
| Wood Products | 25,653 | 13,976 | 34,145 | 31,685 |
| Unallocated corporate costs (d) | (11,794) | (11,479) | (25,443) | (23,086) |
| Income from operations | $83,976 | $80,530 | $111,761 | $135,049 |
| Interest expense | (7,106) | (5,183) | (13,125) | (10,495) |
| Interest income | 2,152 | 4,623 | 5,089 | 10,133 |
| Other unallocated items (e) | (450) | 626 | (721) | 103 |
| Income before income taxes | $78,572 | $80,596 | $103,004 | $134,790 |
(a) Substantially all costs included in "Materials, labor, and other operating expenses (excluding depreciation)" for our BMD segment are for inventory purchased for resale. "Materials, labor, and other operating expenses (excluding depreciation)" for our Wood Products segment are the costs associated with Wood Products' manufacturing processes, including wood fiber, labor, glues and resins, energy, operating supplies, maintenance materials, freight, and other manufacturing costs.
(b) Other segment items for our BMD segment includes general and administrative expenses and other income (expense). Other segment items for our Wood Products segment includes selling and distribution expenses, general and administrative expenses, and other income (expense).
(c) Primarily represents intersegment sales from our Wood Products segment to our BMD segment.
(d) Unallocated corporate costs include corporate support staff services, and related assets and liabilities. Support services include, but are not limited to, information technology, human resources, finance, accounting, insurance and legal functions. For the six months ended June 30, 2026, unallocated corporate costs includes $1.8 million of estimated insurance losses related to a fire at our Florien veneer and plywood facility.
(e) Other unallocated items include foreign exchange gains and losses, pension expense (excluding service costs) and the change in fair value of interest rate swaps.
| June 30,2026 | December 31,2025 | |
|---|---|---|
| (thousands) | ||
| Assets | ||
| Building Materials Distribution | $1,863,419 | $1,580,239 |
| Wood Products | 1,204,452 | 1,183,351 |
| Corporate | 320,401 | 478,353 |
| Total assets | $3,388,272 | $3,241,943 |
| Three Months EndedJune 30 | Six Months EndedJune 30 | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| (thousands) | ||||
| Capital expenditures | ||||
| Building Materials Distribution (a) | $8,192 | $39,588 | $31,103 | $62,019 |
| Wood Products | 15,154 | 39,358 | 31,817 | 70,047 |
| Corporate | 145 | 106 | 395 | 191 |
| Total capital expenditures | $23,491 | $79,052 | $63,315 | $132,257 |
(a) For the six months ended June 30, 2026, capital expenditures for BMD is reported net of a $2.5 million promissory note, which partially funded the purchase of our previously leased distribution facility in Boise, Idaho.
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