Boise Cascade Profit Jumps 67% on Plywood Prices

The building-materials maker's third-quarter net income rose to $36.4 million even as U.S. housing starts declined.

Updated on Nov. 3, 2026 in Construction

Isometric editorial illustration of two stacked piles of pale plywood sheets of unequal height on a grey floor, the taller pile signaling higher material value. — Boise Cascade reported third-quarter net income of $36.4 million, up 67% from a year earlier, as higher plywood prices offset a 4% drop in U.S. housing starts. AI Illustration. Upload story photo >

Live Poll

Is buying a home getting harder or easier in your area right now?

Boise Cascade reported third-quarter 2026 net income of $36.4 million, up 67% from a year earlier, on sales of $1.8 billion, up 8%. Higher plywood prices lifted results while total U.S. housing starts fell 4% from the same quarter of 2025.

Why it matters

Wood products prices and housing activity are closely tied to new construction costs and builder demand across the country. The results show a producer benefiting from pricing even as the broader housing market softens.

Third-quarter sales reached $1.8 billion, up 8%, and adjusted EBITDA rose 32% to $98.5 million, with Building Materials Distribution sales up 7% to $1,669.5 million and Wood Products sales up 16% to $461.2 million. Fourth-quarter EBITDA guidance is $32 million to $54 million, and the company's future performance will depend on how the housing market evolves.

The players

Boise Cascade

A U.S. building-materials manufacturer and distributor whose wood products and distribution segments serve residential construction markets.

The details

Wood Products segment income rose on higher plywood prices and gains in LVL and I-joist volume, even as plywood volume fell 7%. Management attributed amplified affordability pressure to high fuel prices and an inflation-driven rise in benchmark interest rates.

Third quarter of 2026: net income of $36.4 million reported.
October 2026: company repurchased 65,006 shares for about $5 million.
September 30, 2026: outstanding debt stood at $452.5 million.
Fourth quarter of 2026: EBITDA guidance of $32 million to $54 million.
December 16, 2026: quarterly dividend of $0.23 per share payable.

Market Landscape

Total U.S. housing starts fell 4% and single-family starts fell 2% from the third quarter of 2025, as tracked in the Census Bureau's housing starts series. Boise Cascade's gains show that price increases in wood products can offset weaker construction volumes for some producers.

Higher plywood prices can raise the cost of framing lumber for homebuilders and remodelers, which may pass through to buyers. Shoppers and contractors should expect wood product costs to remain a significant factor in project budgets while housing starts stay soft.

The takeaway

Strong pricing in building materials can mask weaker housing volume, so watch both price trends and starts data before drawing conclusions about the broader construction market. Tracking quarterly guidance alongside Census figures gives a clearer picture of where demand is heading.

What happens next

Boise Cascade's fourth-quarter EBITDA guidance of $32 million to $54 million will be tested when fourth-quarter results are reported, and the $0.23 quarterly dividend is payable December 16, 2026.