Boise Cascade posted a $15 million net gain for the second quarter, reversing a year-ago $9.9 million loss on sales of $728 million, up one-quarter for the same period, the company announced Thursday. Earnings before interest, taxes, depreciation and amortization (EBITDA) was $28.2 million, an improvement on a year ago’s $3.9 million EBITDA loss.
The Boise, Idaho-based engineered wood products manufacturer and building products distributor noted that the strong quarter was impacted by growing demand and commodity price increases relative to the second quarter 2011, although demand remains below historical levels. Companywide gains generated $9.6 million in cash during the quarter to total $174.1 million.
The company’s wood products division reported $21.7 million of EBITDA from $4.5 million a year ago on a 33% sales increase to $241.8 million for the same period. The growth, the company says is thanks to higher plywood volumes and price increases, as well as more engineered wood shipments albeit at lower sales prices.
The building materials distribution segment more than doubled its EBITDA from a year ago to post $10.9 million on a sales increase on a 23% increase in sales to $580.5 million. Segment volumes grew 15%.