Shares of Boise Cascade (NYSE: BCC) plummeted by 5.70% on Monday, November 5th, as the company reported weaker-than-expected financial results for the fourth quarter ended January 1st, 2024.

The wood products manufacturer reported adjusted earnings per share (EPS) of $2.33 for the quarter, narrowly beating analyst expectations of $2.32. However, this figure represented a significant decline from the same quarter last year, when Boise Cascade reported EPS of $3.58, highlighting the company's deteriorating profitability.

Additionally, Boise Cascade's revenue for the quarter fell 6.6% year-over-year to $1.71 billion, narrowly missing analyst expectations of $1.72 billion. This top-line miss, combined with the sharp year-over-year decline in earnings, raised concerns among investors about the company's growth prospects and ability to navigate the current economic environment.