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Building products company Boise Cascade Company (NYSE:BCC) will be reporting earnings tomorrow afternoon. Here’s what you need to know.
Boise Cascade beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $1.80 billion, flat year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ operating margin estimates.
Is Boise Cascade a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Boise Cascade’s revenue to decline 6.3% year on year to $1.72 billion, improving from the 14.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.33 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boise Cascade has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Boise Cascade’s peers in the industrial distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Beacon Roofing Supply delivered year-on-year revenue growth of 7.3%, meeting analysts’ expectations, and Richardson Electronics reported revenues up 2.2%, topping estimates by 8.7%. Beacon Roofing Supply traded down 3.6% following the results while Richardson Electronics was also down 2.5%.
Read our full analysis of Beacon Roofing Supply’s results here and Richardson Electronics’s results here.
Investors in the industrial distributors segment have had steady hands going into earnings, with share prices flat over the last month. Boise Cascade is down 5% during the same time and is heading into earnings with an average analyst price target of $144.80 (compared to the current share price of $134.21).
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