Boise Cascade (BCC) Misses Q4 EPS by 22c

Boise Cascade (NYSE: BCC) reported Q4 EPS of $0.06, $0.22 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $876.5 million versus the consensus estimate of $856.99 million.

"Our Wood Products' operating results were negatively impacted by the continued erosion in plywood and pine lumber pricing during 2015. Plywood markets were very challenging in the fourth quarter of 2015 and, disappointingly, pricing has eroded further as we begin 2016. With the strength of the U.S. dollar attracting imports and the planned ramp up of a new plywood mill this spring in Mississippi by a private equity firm, the oversupply situation is likely to continue until demand improves seasonally or domestic production declines," commented Tom Corrick, CEO. "We expect the housing recovery to continue in 2016, with U.S. starts for the year projected to be between 1.20 and 1.25 million. Increased housing construction should provide a favorable backdrop for engineered wood products in our manufacturing business, as well as revenue and earnings growth in our distribution business."

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

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