Shares of Boise Cascade (BCC) plummeted by 5.70% on Monday, November 5th, as the company reported weaker-than-expected financial results for the quarter ended January 1st.
While Boise Cascade's earnings per share (EPS) of $2.33 beat analyst expectations of $2.32, it represented a significant decline from the same quarter last year, when the company reported EPS of $3.58. Revenue also fell 6.6% year-over-year to $1.71 billion, narrowly missing expectations of $1.72 billion.
The company's net income for the quarter stood at $91.04 million, reflecting the overall weakness in its financial performance. Furthermore, analysts have revised their earnings estimates for Boise Cascade downward by about 8.5% in the last three months, indicating growing concerns about the company's future prospects.
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