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Boise Cascade (BCC) FY2024 results: revenue $6.7 billion, down 1.7% on the year

Boise Cascade Co. (BCC) reported revenue of $6.7 billion for fiscal 2024, the year ended 31 December 2024, down 1.7% on the year before. Net income was $376 million, down 22.2%, and diluted earnings per share $9.57. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.

Revenue
$6.7 billion
-1.7% on the year
FY2017FY2024
Operating margin
7.3%
9.1% a year earlier
FY2017FY2024
Net income
$376 million
-22.2% on the year
FY2017FY2024
Diluted EPS
$9.57
-21.0% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue6,7246,8388,387-1.7%
Cost of revenue5,3945,4096,473-0.3%
Gross profit1,3311,4291,915-6.9%
Gross margin19.8%20.9%22.8%
Operating income4906241,158-21.5%
Operating margin7.3%9.1%13.8%
Interest expense24.125.525.4-5.6%
Pre-tax income5026451,146-22.2%
Income tax125161289-22.3%
Effective tax rate25.0%25.0%25.2%
Net income376484858-22.2%
Net margin5.6%7.1%10.2%
Diluted EPS$9.57$12.12$21.56-21.0%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow4386871,041-36.2%
Capital expenditure230215114+6.6%
Free cash flow209472927-55.8%
Free cash flow margin3.1%6.9%11.1%
Cash from investing-238-376-625
Cash from financing-437-361-166
Depreciation and amortisation144132102+8.8%
Share-based compensation15.515.411.9+0.5%
Buybacks1956.40.0+2,933.1%
Dividends paid229346160-34.0%
Dividend per share$5.82$8.70$4.01-33.1%
Diluted shares, weighted39m40m40m-1.5%
Shares outstanding at period end38m40m39m-3.4%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity2,1512,1962,058-2.0%
Debt446445444+0.2%
Operating lease liabilities43.256.448.7-23.5%
Finance lease liabilities26.928.130.0-4.3%
Other liabilities702733659-4.3%
Total liabilities and equity3,3693,4593,241-2.6%
Fixed assets1,047933770+12.3%
Goodwill172170138+1.0%
Intangible assets173191161-9.3%
Cash and equivalents713950998-24.9%
Receivablesn/an/a297
Inventory803712698+12.8%
Other assets461503178-8.4%
Total assets3,3693,4593,241-2.6%

10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.