Boise Cascade (NYSE: BCC) is up 1.9% early after the company reported Q3 EPS of $0.82, $0.13 better than the analyst estimate of $0.69. Revenue for the quarter came in at $983.3 million versus the consensus estimate of $984.3 million.

"Third quarter sales were consistent with our seasonal expectations for our manufacturing and distribution businesses. Our earnings benefited from strong plywood pricing in the quarter. In our engineered wood products business, we continue to capture solid volume growth and improved pricing. Forecasts for 2015 reflect further growth in U.S. housing starts and we remain confident in our ability to take advantage of market opportunities," stated Tom Carlile, CEO.

Outlook

We expect to experience seasonally slower demand in the fourth quarter of 2014. On an annual basis, housing starts in the U.S. improved in 2013 and 2012. This improvement in U.S. housing starts has continued into 2014 and we remain optimistic that the improvement in demand for our products will continue through 2015, but at forecasted levels below the 20-year historical average. Future commodity product pricing could be volatile in response to industry capacity restarts and operating rates, inventory levels in various distribution channels, and seasonal demand patterns. We expect to manage our production levels to our sales demand, which will likely result in operating some of our facilities below their capacity until demand improves further.

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