BCC - Boise Cascade Company (BCC) Q1 2024 Earnings Call Transcript
2024-05-07 17:15:18 ET
Boise Cascade Company (BCC)
Q1 2024 Results Conference Call
May 07, 2024 11:00 AM ET
Company Participants
Chris Forrey - IR
Nate Jorgensen - Chief Executive Officer
Kelly Hibbs - Senior Vice President, Chief Financial Officer and Treasurer
Troy Little - Head-Wood Products Operations
Jeff Strom - Head-Building Materials Distribution Operations
Conference Call Participants
Charles Perron - Goldman Sachs
Mike Roxland - Truist
Lucas Hudson - Bank of America Securities
Ketan Mamtora - BMO
Kurt Yinger - D.A. Davidson
Reuben Garner - Benchmark
Susan Maklari - Goldman Sachs
Presentation
Operator
Good day. My name is Corey, and I will be your conference facilitator today. At this time, I would like to welcome everyone to Boise Cascade First Quarter 2024 Conference Call. Please note all participations and in a listen only mode. After the speakers presentation there will question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
It is now my pleasure to introduce you to Chris Forrey, Vice President, Finance and Investor Relations, Boise Cascade. Mr. Fory, you may begin your conference.
Chris Forrey
Good morning, everyone. I would like to welcome you to Boise Cascade's First Quarter 2024 Earnings Call and Business Update. Joining me on today's call are Nate Jorgensen, our CEO; Kelly Hibbs, our CFO and Treasurer; Troy Little, Head of our Wood Products Operations; and Jeff Strom, Head of our Building Materials Distribution operations.
Turning to Slide 2. This call will contain forward-looking statements. Please review the warning statements in our press release, on the presentation slides and in our filings with the SEC regarding the risks associated with these forward-looking statements. Also, please note that the appendix includes reconciliations from our GAAP net income to EBITDA and adjusted EBITDA and segment income to segment EBITDA.
I will now turn the call over to Nate.
Nate Jorgensen
Thanks, Chris. Good morning, everyone. Thank you for joining us for our earnings call today. I'm on Slide #3. Total U.S. housing starts only increased 1%. However, single-family starts increased 27% compared to the prior year quarter. Our consolidated first quarter sales of $1.6 billion were up 7% from first quarter of 2023. Our net income was $104.1 million or $2.61 per share compared to net income of $96.7 million or $2.43 per share in the year ago quarter....
Boise Cascade Company (BCC) Q1 2024 Earnings Call Transcript