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Boise Cascade Reports Mixed Q2 Earnings

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Boise Cascade (NYSE: BCC) reported second-quarter earnings of 71 cents per share, which beat the analyst consensus estimate of 48 cents by 47.92%. This is a 33.02% decrease over earnings of $1.06 per share from the same period last year.

The company reported quarterly sales of $1.23 billion, which missed the analyst consensus estimate of $1.27 billion by 3.15%. This is a 12.64% decrease over sales of $1.408 billion the same period last year.

"While the headwinds of low commodity products pricing and softer single-family residential starts made for challenging year-over-year financial comparisons, our businesses executed well during the second quarter,” commented Tom Corrick, CEO of Boise Cascade. “The progress we have made growing our distribution and EWP businesses is providing more stability to our earnings during periods of weak commodity pricing.”

Boise Cascade shares closed Friday at $27.27. The stock has a 52-week high of $47.15 and a 52-week low of $22.

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