This presentation includes statements about our expectations of future operational and financial performance that are forward-looking statements within the meaning of
u
u
the Private Securities Litigation Reform Act of 1995. The accuracy of such statements is subject to a number of risks, uncertainties, and assumptions that could cause our actual results to differ materially from those projected, including, but not limited to, prices for building products, changes in the competitive position of our products, commodity input costs, the effect of general economic conditions, the effect of COVID-19, mortgage rates and availability, housing demand, housing vacancy rates, governmental regulations, unforeseen production disruptions, as well as natural disasters.
These and other factors that could cause actual results to differ materially from such forward-looking statements are discussed in greater detail in our filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of this presentation. We undertake no obligation to revise them in light of new information. Finally, we undertake no obligation to review or confirm analyst expectations or estimates that might be derived from this presentation.
This presentation includes references to EBITDA and Adjusted EBITDA, which are non-GAAP financial measures within the meaning of the Securities and Exchange Commission's Regulation G. Reconciliations of net income to EBITDA and Adjusted EBITDA and segment income to segment EBITDA are included as an appendix.
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2
Executive Summary
2Q21 sales were $2.4 billion, up 97% from 2Q20.
2Q21 net income was $302.6 million, or $7.62 per share, compared to net income of $33.6 million, or $0.85 per share, in 2Q20.
Wood Products reported 2Q21 segment income of $213.8 million, compared to $17.1 million in 2Q20.
Higher plywood, EWP, and lumber sales prices, as well as higher EWP sales volumes, offset partially by higher wood fiber costs.
BMD reported 2Q21 segment income of $206.3 million, up from $43.2 million in 2Q20.
Gross margin increase of $187.9 million resulting from improved sales volumes and gross margins on substantially all product lines, particularly commodity products.
Increased selling and distribution expenses of $25.9 million.
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2Q 2021 Financial Highlights
$ Millions
Sales
$2,443.2
97%
2,172.7
$1,242.8
1,134.3
594.6
281.5
(324.2)
(173.0)
2Q 2021
2Q 2020
n BMD n Wood
n Eliminations
Adjusted EBITDA
$430.3 500%
212.3
$ Millions
227.9
$71.8
48.8
31.0
(9.8)
(8.0)
2Q 2021
2Q 2020
n BMD n Wood
Corporate
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4
Wood Products EWP
(mmcf)
LVL
I-joists
6.0
80
76
72
5.0
4.7
4.7
70
69
4.6
4.3
4.4
3.8
63
4.0
59
60
3.0
50
50
2.0
1Q
2Q
3Q
4Q
40
1Q
2Q
3Q
4Q
($/cf)
$1,400
$20
19.63
1,363
18.5019.00
1,319
18.36
$18
18.14
18.04
$1,300
1,276
1,260
1,237
1,212
$1,200
$16
$14
$1,100
$12
$1,000
$10
1Q
2Q
3Q
4Q
$900
1Q
2Q
3Q
4Q
August 3, 2021
5
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Boise Cascade Company published this content on 02 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:57:53 UTC.
Boise Cascade Company is a producer of engineered wood products (EWP) and plywood in North America and a wholesale distributor of building products in the United States. Its segments include Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber (LVL), I-joists, and laminated beams. In addition, it manufactures structural, appearance, and industrial plywood panels, and ponderosa pine lumber. The Building Materials Distribution segment operates a network of distribution facilities that sell a broad line of building materials, including oriented strand board (OSB), plywood, and lumber, and general line items, such as siding, composite decking, doors and millwork, metal products, roofing, and insulation. Its products are used in the construction of new residential housing, including single-family, multi-family, and manufactured homes, the construction of light industrial and commercial buildings, and industrial applications.
BOISE CASCADE COMPANY 
