Boise Cascade misses on third-quarter earnings but beats on sales, and guides Q4 EBITDA to $32M-$54M

Chief executive Jeff Strom points to supplier transitions and a more cautious demand environment heading into 2027, while the dividend and share buyback carry on.

Boise Cascade sold more than expected but kept less of it. Revenue of $1.80B beat the $1.78B forecast, while GAAP earnings of $1.04 a share came in $0.09 below expectations. The shortfall lies between the top line and the bottom line, not in sales.

The outlook is wide and leans on one division. The company guides to fourth-quarter EBITDA, a measure of operating profit, of $32m to $54m. Within that, BMD is expected to contribute $35m to $45m and Wood Products $10m to $20m, against unallocated corporate costs of $11m to $13m.

Jeff Strom, the chief executive, said the company began navigating supplier transitions during the quarter. He said it remains focused on integrating new specialty product lines and driving efficiencies in a more cautious demand environment heading into 2027. That frames the coming months as a period of adjustment rather than growth.

Capital plans are staying in place. Boise Cascade expects 2026 capital spending, excluding acquisitions, of about $120m to $140m. In October it bought back 65,006 shares for about $5m, leaving roughly $120m available under its repurchase programme. The board declared a quarterly dividend of $0.23 a share, payable on December 16 to holders of record on December 1.