Boise Cascade pulls in 9% growth in Q2

Boise Cascade Company pulled in 9% growth in net sales during the second quarter, though the results still fell below investor expectations.

Net sales of $1.04 billion for the three months ended June 30 compared with $955.4 million in the year-ago quarter.

Additionally, the company reported net income of $19.2 million, or $0.49 per share, down 5% from the previous year's $20.2 million.

"The integration of the Thorsby and Roxboro engineered wood products facilities has gone very well. We are pleased with the additional capabilities the facilities provide as we support the ongoing growth of our customers," stated Tom Corrick, CEO.

"Our distribution business had an outstanding second quarter that reflected solid volume growth across its product lines and the benefit of favorable tailwinds on many commodity product prices," added Corrick. "We still face oversupply challenges in our plywood business, but did see improvement in pricing compared to the first quarter. We expect modest growth in residential housing construction for the balance of the year, which should drive additional demand for our products and services."

The company expects its capital expenditures during 2016 to be $85-$95 million, inclusive of costs associated with the newly acquired EWP facilities.