BCC - Boise Cascade Company (BCC) Q4 2023 Earnings Call Transcript

2024-02-21 17:06:10 ET

Boise Cascade Company (BCC)

Q4 2023 Results Conference Call

February 21, 2024 11:00 AM ET

Company Participants

Kelly Hibbs - Senior Vice President, Chief Financial Officer and Treasurer

Nate Jorgensen - Chief Executive Officer

Mike Brown - Head-Wood Products Operations

Jeff Strom - Head-Building Materials Distribution Operations

Conference Call Participants

Kurt Yinger - D.A. Davidson

Susan Maklari - Goldman Sachs

Ketan Mamtora - BMO

Reuben Garner - Benchmark

Presentation

Operator

Good morning. My name is Lisa, and I will be your conference facilitator today. At this time, I would like to welcome everyone to Boise Cascade Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions]

It is now my pleasure to introduce you to Kelly Hibbs, Senior Vice President, CFO and Treasurer of Boise Cascade. Mr. Hibbs, you may begin your conference.

Kelly Hibbs

Thank you, Lisa, and good morning, everyone.

I would like to welcome you to Boise Cascade's fourth quarter 2023 earnings call and business update. Joining me on today's call are Nate Jorgensen, our CEO; Jeff Strom, Head of our Building Materials Distribution Operations; and Mike Brown, Head of our Wood Products operations, who will be retiring May 1 after an outstanding 25 years of service to Boise Cascade.

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, Kelly. Good morning, everyone. Thank you for joining us for our earnings call today. I'm on Slide number 3.

A few highlights as I reflect on our 2023 results. We reported full year net income of $483.7 million or $12.12 per diluted share on sales of $6.8 billion. We further executed our growth strategy through organic and acquisition initiatives, and we also provided meaningful returns to our shareholders through share price gains and dividends. I want to thank our associates across the company who continue to execute our strategy that position us to serve and support our vendor and customer partners....

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