Building products company Boise Cascade Company (NYSE: BCC) will be reporting results this Monday after market hours. Here’s what investors should know.
Boise Cascade beat analysts’ revenue expectations last quarter, reporting revenues of $1.46 billion, down 6.8% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Boise Cascade a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Boise Cascade’s revenue to decline 4.2% year on year, improving from the 6.6% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have 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 multiple times over the last two years.
Looking at Boise Cascade’s peers in the industrial distributors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 3.1%, beating analysts’ expectations by 4.4%, and WESCO reported revenues up 13.8%, topping estimates by 3.7%. Richardson Electronics traded up 22.7% following the results while WESCO was also up 16.2%.
Read our full analysis of Richardson Electronics’s results here and WESCO’s results here.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 9.4% on average over the last month. Boise Cascade is up 5.9% during the same time and is heading into earnings with an average analyst price target of $94.50 (compared to the current share price of $78.08).
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