Building products company Boise Cascade Company (NYSE: BCC) will be announcing earnings results this Monday afternoon. Here’s what to expect.
Boise Cascade missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $1.74 billion, down 3.2% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is Boise Cascade a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Boise Cascade’s revenue to decline 5.6% year on year to $1.62 billion, in line with the 6.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.69 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 four times over the last two years.
Looking at Boise Cascade’s peers in the industrial distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 1.6%, beating analysts’ expectations by 6%, and Rush Enterprises reported flat revenue, topping estimates by 5.7%. Richardson Electronics traded up 11.4% following the results while Rush Enterprises’s stock price was unchanged.
Read our full analysis of Richardson Electronics’s results here and Rush Enterprises’s results here.
Investors in the industrial distributors segment have had steady hands going into earnings, with share prices flat over the last month. Boise Cascade is down 9.2% during the same time and is heading into earnings with an average analyst price target of $93.17 (compared to the current share price of $70.49).
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