Boise Cascade recently reported net income of $32.3 million, or $0.82 per share, on sales of $983.3 million for the third quarter ended September 30, 2014.
In third quarter 2014, total and single-family U.S. housing starts increased approximately 15% and 7%, respectively, from the same period last year. The October 2014 Blue Chip consensus forecast for 2014 reflects 1.01 million total U.S. housing starts, a 9% expected increase from 2013 levels, but still well below the historical average for the last 20 years of approximately 1.4 million starts per year.
"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.
