By Denny Jacob
Boise Cascade Co. shares dropped about 14% to $70.70, after the distributor and manufacturer of building materials said that it expects the firm pricing environment in 2022.
The company stated that it expects future commodity product pricing to be volatile. This is due to industry operating rate and capacity restoration, the Covid-19 pandemic of residential construction, net export and import activity, transportation constraints and disruptions, inventory levels across various distribution channels, seasonal demand patterns, and inventory levels.
Boise Cascade reported $169.1 million net income for its fourth quarter. That’s per-share earnings at $4.26 and $26 million respectively, compared with 66 cents per-share in the year-ago period. Revenue grew to $1.78 Billion from $1.47 Billion. Analysts were pleased with both figures.
Write to Denny Jacob at [email protected]