EX-99.2 4 bccexhibit9923312025.htm QUARTERLY STATISTICAL INFORMATION Document

Exhibit 99.2
Boise Cascade Company
Quarterly Statistical Information
Wood Products Segment
2025
Q1Q2Q3Q4YTD
 LVL sales volume (MCF)4,616 4,616 
 I-joist sales volume (MELF)54,711 54,711 
 Plywood sales volume (MSF 3/8")362,779 362,779 
 Lumber sales volume (MBF)19,830 19,830 
 LVL mill net sales price ($/CF)$26.09 $26.09 
 I-joist mill net sales price ($/MELF)$1,833 $1,833 
 Plywood net sales price ($/MSF 3/8")$341 $341 
 Lumber net sales price ($/MBF)$619 $619 
 Segment sales (000)$415,845 $415,845 
 Segment income (000)$17,709 $17,709 
 Segment depreciation and amortization (000)$22,486 $22,486 
 Segment EBITDA (000)1
$40,195 $40,195 
 EBITDA as a percentage of sales9.7 %9.7 %
 Capital spending (000)$30,689 $30,689 
 Receivables (000)$74,469 
 Inventories (000)$260,464 
 Accounts payable (000)$74,749 
2024
Q1Q2Q3Q4YTD
 LVL sales volume (MCF)4,777 5,074 4,952 4,561 19,364 
 I-joist sales volume (MELF)56,587 65,788 58,884 53,081 234,340 
 Plywood sales volume (MSF 3/8")371,699 383,092 390,978 371,263 1,517,032 
 Lumber sales volume (MBF)22,772 17,619 19,390 18,429 78,210 
 LVL mill net sales price ($/CF)$28.75 $28.12 $27.62 $26.93 $27.87 
 I-joist mill net sales price ($/MELF)$2,018 $1,961 $1,921 $1,894 $1,949 
 Plywood net sales price ($/MSF 3/8")$378 $362 $333 $350 $355 
 Lumber net sales price ($/MBF)$650 $751 $705 $632 $682 
 Segment sales (000)$468,928 $489,823 $453,896 $419,670 $1,832,317 
 Segment income (000)$71,238 $72,780 $53,853 $33,583 $231,454 
 Segment depreciation and amortization (000)2
$24,384 $22,270 $23,551 $22,998 $93,203 
 Segment EBITDA (000)1
$95,622 $95,050 $77,404 $56,581 $324,657 
 EBITDA as a percentage of sales20.4 %19.4 %17.1 %13.5 %17.7 %
 Capital spending (000)$19,643 $17,793 $24,771 $59,663 $121,870 
 Receivables (000)$84,892 $83,445 $77,244 $55,719 
 Inventories (000)$213,050 $206,198 $226,300 $245,320 
 Accounts payable (000)$61,834 $66,374 $73,922 $61,800 


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Boise Cascade Company
Quarterly Statistical Information (continued)
Wood Products Segment (continued)
2023
Q1Q2Q3Q4YTD
 LVL sales volume (MCF)3,639 4,682 4,945 4,109 17,375 
 I-joist sales volume (MELF)38,711 62,950 64,125 54,015 219,801 
 Plywood sales volume (MSF 3/8")405,960 439,963 389,827 363,008 1,598,758 
 Lumber sales volume (MBF)31,560 32,528 31,729 29,221 125,038 
 LVL mill net sales price ($/CF)$31.17 $30.14 $29.08 $29.93 $30.01 
 I-joist mill net sales price ($/MELF)$2,168 $2,088 $2,035 $2,093 $2,088 
 Plywood net sales price ($/MSF 3/8")$367 $365 $382 $375 $372 
 Lumber net sales price ($/MBF)$724 $707 $641 $588 $667 
 Segment sales (000)$437,428 $530,273 $515,225 $449,676 $1,932,602 
 Segment income (000)$69,395 $104,035 $99,574 $64,128 $337,132 
 Segment depreciation and amortization (000)2
$23,790 $23,005 $23,350 $28,565 $98,710 
 Segment EBITDA (000)1
$93,185 $127,040 $122,924 $92,693 $435,842 
 EBITDA as a percentage of sales21.3 %24.0 %23.9 %20.6 %22.6 %
 Capital spending (000)$7,262 $12,106 $11,807 $28,185 $59,360 
 Receivables (000)$77,318 $97,229 $88,688 $56,882 
 Inventories (000)$232,136 $200,948 $205,111 $218,861 
 Accounts payable (000)$63,275 $60,656 $69,023 $60,196 
1Segment EBITDA is calculated as segment income before depreciation and amortization.
2Segment depreciation and amortization in first quarter 2024 and fourth quarter 2023 include accelerated depreciation of $2.2 million and $6.2 million, respectively, for the indefinite curtailment of lumber production assets at our Chapman, Alabama, facility.

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Boise Cascade Company
Quarterly Statistical Information (continued)
Building Materials Distribution Segment
2025
Q1Q2Q3Q4YTD
 Commodity sales1
36.7 %36.7 %
 General line sales1
42.6 %42.6 %
 EWP sales1
20.7 %20.7 %
 Total sales (000)$1,407,116 $1,407,116 
 Gross margin2
14.7 %14.7 %
 Segment income (000)$48,417 $48,417 
 Segment depreciation and amortization (000)$14,362 $14,362 
 Segment EBITDA (000)3
$62,779 $62,779 
 EBITDA as a percentage of sales4.5 %4.5 %
 Capital spending (000)$22,431 $22,431 
 Receivables (000)$438,218 
 Inventories (000)$660,970 
 Accounts payable (000)$438,404 
2024
Q1Q2Q3Q4YTD
 Commodity sales1
36.7 %35.0 %34.9 %36.7 %35.8 %
 General line sales1
41.0 %42.4 %43.8 %42.4 %42.4 %
 EWP sales1
22.3 %22.6 %21.3 %20.9 %21.8 %
 Total sales (000)$1,505,021 $1,655,221 $1,567,466 $1,438,785 $6,166,493 
 Gross margin2
15.1 %14.8 %15.7 %15.8 %15.3 %
 Segment income (000)$72,463 $85,400 $74,821 $70,701 $303,385 
 Segment depreciation and amortization (000)$11,107 $11,741 $12,928 $13,758 $49,534 
 Segment EBITDA (000)3
$83,570 $97,141 $87,749 $84,459 $352,919 
 EBITDA as a percentage of sales5.6 %5.9 %5.6 %5.9 %5.7 %
 Capital spending (000)4
$14,672 $21,904 $36,902 $34,115 $107,593 
 Receivables (000)$453,083 $436,992 $386,303 $315,698 
 Inventories (000)$601,546 $626,044 $566,056 $557,977 
 Accounts payable (000)$412,919 $392,798 $300,978 $226,236 

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Boise Cascade Company
Quarterly Statistical Information (continued)
Building Materials Distribution Segment (continued)
2023
Q1Q2Q3Q4YTD
 Commodity sales1
39.7 %37.5 %37.4 %36.9 %37.8 %
 General line sales1
38.7 %39.6 %39.4 %40.4 %39.5 %
 EWP sales1
21.6 %22.9 %23.2 %22.7 %22.7 %
 Total sales (000)$1,379,242 $1,636,538 $1,670,296 $1,492,614 $6,178,690 
 Gross margin2
14.8 %15.0 %15.2 %15.2 %15.0 %
 Segment income (000)$69,685 $98,550 $97,076 $70,497 $335,808 
 Segment depreciation and amortization (000)$7,070 $7,386 $7,781 $10,116 $32,353 
 Segment EBITDA (000)3
$76,755 $105,936 $104,857 $80,613 $368,161 
 EBITDA as a percentage of sales5.6 %6.5 %6.3 %5.4 %6.0 %
 Capital spending (000)5
$22,659 $25,929 $19,135 $88,001 $155,724 
 Receivables (000)$393,338 $445,991 $434,755 $344,978 
 Inventories (000)$506,663 $502,085 $478,295 $493,509 
 Accounts payable (000)$363,163 $390,840 $362,196 $252,144 
1Product line sales are shown as a percentage of total Building Materials Distribution (BMD) sales.
2We define gross margin as "Sales" less "Materials, labor, and other operating expenses (excluding depreciation)." Substantially all costs included in "Materials, labor, and other operating expenses (excluding depreciation)" for our BMD segment are for inventory purchased for resale. Gross margin percentage is gross margin as a percentage of segment sales.
3Segment EBITDA is calculated as segment income before depreciation and amortization.
4During 2024, capital spending in third quarter includes approximately $20 million to purchase a previously leased BMD property in Westfield, Massachusetts.
5During 2023, capital spending in first quarter includes approximately $11 million to purchase a property in Kansas City, Missouri, to house a new door and millwork location and capital spending in fourth quarter includes approximately $63 million to purchase properties in West Palm Beach, Florida, and Modesto, California. Capital spending in fourth quarter 2023 excludes approximately $163 million for the acquisition of businesses and facilities, net of cash acquired.


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Boise Cascade Company
Quarterly Statistical Information (continued)
Reconciliation of Non-GAAP Financial Measures
(in thousands)
Total Boise Cascade Company
EBITDA represents income before interest (interest expense and interest income), income taxes, and depreciation and amortization. Additionally, we disclose Adjusted EBITDA, which further adjusts EBITDA to exclude the change in fair value of interest rate swaps. The following tables reconcile net income to EBITDA and Adjusted EBITDA for the periods noted below:
2025
Q1Q2Q3Q4YTD
Net income$40,348 $40,348 
Interest expense5,312 5,312 
Interest income(5,510)(5,510)
Income tax provision13,846 13,846 
Depreciation and amortization37,121 37,121 
EBITDA91,117 91,117 
Change in fair value of interest rate swaps490 490 
Adjusted EBITDA$91,607 $91,607 
2024
Q1Q2Q3Q4YTD
Net income$104,124 $112,292 $91,038 $68,900 $376,354 
Interest expense6,070 6,105 6,082 5,810 24,067 
Interest income(10,597)(10,543)(10,168)(7,831)(39,139)
Income tax provision32,829 38,499 29,801 24,276 125,405 
Depreciation and amortization35,850 34,367 36,861 37,035 144,113 
EBITDA168,276 180,720 153,614 128,190 630,800 
Change in fair value of interest rate swaps220 487 866 465 2,038 
Adjusted EBITDA$168,496 $181,207 $154,480 $128,655 $632,838 
2023
Q1Q2Q3Q4YTD
Net income$96,733 $146,320 $143,068 $97,535 $483,656 
Interest expense6,361 6,339 6,351 6,445 25,496 
Interest income(9,685)(11,519)(13,760)(13,142)(48,106)
Income tax provision33,275 49,447 49,005 29,666 161,393 
Depreciation and amortization31,186 30,722 31,474 39,085 132,467 
EBITDA157,870 221,309 216,138 159,589 754,906 
Change in fair value of interest rate swaps804 (333)327 993 1,791 
Adjusted EBITDA$158,674 $220,976 $216,465 $160,582 $756,697 

For additional information regarding the non-GAAP measures presented in this document, please refer to our press release announcing our first quarter 2025 financial results, a copy of which is attached as Exhibit 99.1 to our Current Report on Form 8-K furnished to the Securities and Exchange Commission on May 5, 2025.

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