Boise Cascade Co

bc.com

What Do They Do?

Distributes building materials and manufactures engineered wood products and plywood for building-material sellers and industrial buyers.

How Do They Make Money?

Customers buy building materials through warehouse delivery or direct shipping; sales occur when customers take warehouse goods or a direct shipment leaves the manufacturer. Wood Products sells manufactured wood products when they ship from its facilities.

revenue

Segment	Share	Revenue	How money arrives
Building Materials Distribution Sold outright	93% FY2022: 91%		Sold outright
Wood Products Sold outright	25% FY2022: 25%		Sold outright

Who Are Their Customers?

Dealers, home improvement centers and specialty distributors buy for resale to builders, contractors and homeowners; industrial accounts also buy materials for manufacturing and construction. Orders move through warehouse deliveries or direct shipments from manufacturers to customers.

Customers above 10% of revenue, FY2025

of revenue from two customers (12%, 11%)

FY2023: 12% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 2 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

3% of revenue

▼ −63% vs FY2024 ($490M, 7%)

Net income, FY2025

2% of revenue

▼ −65% vs FY2024 ($376.4M, 6%)

Free cash flow, FY2025

0% of revenue

▼ −94% vs FY2024 ($208.8M, 3%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Net income: ▼ −7%; vs $62M in Q2 FY2025

Building Materials Distribution share of revenue vs 92.8% in Q2 FY2025

Aug 3, 2026 Boise Cascade became James Hardie's sole nationwide distributor of exterior products The agreement adds James Hardie's full exterior portfolio and requires a transition away from competing siding, trim and exterior moulding products.

Shrinking. Revenue fell 19% in 4 years, from $7.9B in FY2021 to $6.4B in FY2025, about 5% a year.

Mass-timber products The older report described commercial and mass-timber products as development opportunities; the latest describes investment in larger mass-timber columns and beams and a new veneer-laminated timber product for wall, floor and roof panels.

Revenue over time

Building Materials Distribution Wood Products

$10B$5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with BlueLinx Holdings, Specialty Building Products, Weyerhaeuser, Dixie Plywood and Lumber, Woodgrain, Capital Lumber, Pacific Woodtech, Roseburg Forest Products, and Georgia-Pacific

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