Boise Cascade (BCC) FY2019 results: revenue $4.6 billion, down 7.0% on the year
Boise Cascade Co. (BCC) reported revenue of $4.6 billion for fiscal 2019, the year ended 31 December 2019, down 7.0% on the year before. Net income was $81 million, up 295.2%, and diluted earnings per share $2.06. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$4.6 billion
-7.0% on the year
FY2012FY2019
Operating margin
2.9%
1.4% a year earlier
FY2012FY2019
Net income
$81 million
+295.2% on the year
FY2012FY2019
Diluted EPS
$2.06
+296.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,643
4,995
4,432
-7.0%
Cost of revenue
3,966
4,308
3,820
-7.9%
Gross profit
678
688
612
-1.5%
Gross margin
14.6%
13.8%
13.8%
Operating income
136
72.0
141
+89.4%
Operating margin
2.9%
1.4%
3.2%
Interest expense
26.1
26.2
25.4
-0.5%
Pre-tax income
108
22.1
118
+389.7%
Income tax
27.3
1.6
34.6
+1,580.4%
Effective tax rate
25.2%
7.4%
29.5%
Net income
80.9
20.5
83.0
+295.2%
Net margin
1.7%
0.4%
1.9%
Diluted EPS
$2.06
$0.52
$2.12
+296.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
246
164
152
+50.1%
Capital expenditure
82.7
80.0
75.5
+3.4%
Free cash flow
163
83.6
76.1
+94.8%
Free cash flow margin
3.5%
1.7%
1.7%
Cash from investing
-94.1
-89.3
-73.2
Cash from financing
-58.0
-59.8
-5.2
Depreciation and amortisation
80.1
147
80.4
-45.4%
Share-based compensation
8.0
8.8
9.7
-9.7%
Buybacks
0.0
4.9
0.0
Dividends paid
54.0
50.6
2.7
+6.6%
Dividend per share
$1.37
$1.30
$0.07
+5.4%
Diluted shares, weighted
39m
39m
39m
-0.4%
Shares outstanding at period end
39m
39m
39m
+0.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
701
673
675
+4.3%
Debt
441
439
438
+0.3%
Operating lease liabilities
58.0
0.0
n/a
Finance lease liabilities
23.4
0.0
n/a
Other liabilities
470
469
494
+0.2%
Total liabilities and equity
1,693
1,581
1,607
+7.1%
Fixed assets
477
487
566
-2.1%
Goodwill
60.4
59.2
55.4
+2.1%
Intangible assets
17.8
16.9
15.1
+5.6%
Cash and equivalents
285
192
177
+48.8%
Receivables
216
214
246
+0.7%
Inventory
498
533
477
-6.7%
Other assets
139
79.0
70.6
+76.7%
Total assets
1,693
1,581
1,607
+7.1%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.