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Boise Cascade (BCC) Misses Q4 EPS by 13c

February 19, 2015 8:46 AM EST

Boise Cascade (NYSE: BCC) reported Q4 EPS of $0.40, $0.13 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $862 million versus the consensus estimate of $871.8 million.

Total U.S. housing starts improved 8% in 2014, with single-family starts up 5% from 2013. The February 2015 Blue Chip consensus forecast for 2015 reflects 1.16 million total U.S. housing starts, a 16% expected increase from 2014 levels. Total housing activity levels remain below the historical average for the last 20 years of approximately 1.4 million starts per year.

"We are pleased by our results in 2014, a year in which the Company generated near double-digit revenue growth and almost $200 million in EBITDA. I would like to recognize the efforts of our employees who helped us achieve those results in spite of U.S. housing starts that remain well below historical averages. With our leading position in both the manufacturing and distribution businesses, we are optimistic about our future," commented Tom Carlile, CEO. "In 2015, I expect the Company to take further advantage of improvements in construction activity. As I move into retirement after 42 years with the Company, I'm pleased with the strength of the leadership team and the culture of the Company. The Company's Board is looking forward to supporting Tom Corrick as he leads the Company in continuing the focus on operating excellence and both organic and strategic growth."

For earnings history and earnings-related data on Boise Cascade (BCC) click here.



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