Building products company Boise Cascade Company (NYSE: BCC) will be reporting earnings tomorrow after market close. Here’s what to expect.
Boise Cascade missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $1.57 billion, down 4.7% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ adjusted operating income estimates but a miss of analysts’ Wood products revenue estimates.
Is Boise Cascade a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Boise Cascade’s revenue to decline 8.1% year on year to $1.51 billion, a reversal from the 6.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.29 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boise Cascade has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Boise Cascade’s peers in the industrial distributors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Global Industrial posted flat year-on-year revenue, beating analysts’ expectations by 4.6%, and SiteOne reported revenues up 3.8%, topping estimates by 0.6%. Global Industrial traded up 15.7% following the results while SiteOne was also up 2.6%.
Read our full analysis of Global Industrial’s results here and SiteOne’s results here.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 13% on average over the last month. Boise Cascade is up 4.6% during the same time and is heading into earnings with an average analyst price target of $118.83 (compared to the current share price of $96.15).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.
