Earnings release
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Boise Cascade Company 1111 West Jefferson Street , Suite 300 Boise , ID 83702 News Release Exhibit 99.1 Boise Cascade Investor Relations Contact - Kelly Hibbs 208 384 3638 For Immediate Release : August 2 , 2021 Media Contact - Lisa Tschampl 208 384 6552 Boise Cascade Company Reports Second Quarter 2021 Results BOISE , Idaho - Boise Cascade Company ( " Boise Cascade , " the " Company , " " we , " or " our " ) ( NYSE : BCC ) today reported net income of $ 302.6 million , or $ 7.62 per share , on sales of $ 2.4 billion for the second quarter ended June 30 , 2021 , compared with net income of $ 33.6 million , or $ 0.85 per share , on sales of $ 1.2 billion for the second quarter ended June 30 , 2020 . " Our associates in both businesses performed with focus and dedication to capitalize on the strength in residential construction , delivering exceptional results while supporting our customers and supplier partners . Additionally , as a tribute to our associates ' commitment to safety , I'm proud to report we completed one of our safest quarters on record , " stated Nate Jorgensen , CEO . " As we look to the third quarter , the downward commodity pricing trends experienced in recent weeks have created a challenging environment , and we are focused on mitigating their impact without sacrificing customer service . The strength of our current balance sheet position allows us to remain focused on executing our strategy , including future organic and acquisition growth opportunities . " Second Quarter 2021 Highlights 1 Consolidated Results Sales Net income Net income per common share - diluted Adjusted EBITDA Segment Results Wood Products sales Wood Products income Wood Products EBITDA 1 Building Materials Distribution sales Building Materials Distribution income Building Materials Distribution EBITDA 1 2Q 2021 2Q 2020 % change ( in thousands , except per - share data and percentages ) $ 2,443,161 $ 1,242,760 97 % 302,556 7.62 430,323 33,586 801 % 0.85 796 % 71,776 500 % 594,569 $ 281,505 111 % 213,761 17,074 1,152 % 227,889 31,005 635 % 2,172,744 1,134,260 92 % 206,338 43,210 378 % 212,255 48,794 335 % For reconciliations of non - GAAP measures , see summary notes at the end of this press release . As both a manufacturer and a distributor , our second quarter 2021 financial results were favorably impacted by higher commodity wood products pricing compared to pricing in the same period last year , driven by continued robust construction activity during second quarter 2021. While not subject to the significant price fluctuations of commodity products , demand also exceeded supply for many of the general line and engineered wood products ( EWP ) distributed by Building Materials Distribution ( BMD ) . Lumber pricing peaked in May 2021 , then dropped