2021-02-22 16:08:37 BCC Boise Cascade
02/22/21 02/2216:08 02/22/2116:08 | Boise Cascade reports Q4 EPS with items 66c, consensus $1.08Reports Q4 revenue $1.47B, consensus $1.34B. Fourth quarter EPS were negatively impacted by $1.10 per share by the following non-cash items that negatively effected reported earnings: $6.2M of pre-tax pension settlement charges, or 12c per share after-tax, related to the elimination of qualified defined benefit pension plan; and $38.8M of income tax expense, or 98c per share, related to the release of stranded tax effects upon Plan Termination. "In the face of many challenges presented by extraordinary market conditions and the pandemic, I am proud that we delivered the best safety performance in our Company's history in 2020. Our associates showed great resilience, and we fully leveraged our proven values to provide direction and clarity to our team during these unprecedented times. We reinvested in our businesses through door shop expansions in Texas, facility expansions in a few key distribution markets, and the log utilization center project at our Florien mill. We also provided dividends to our shareholders and supported our team and communities in response to natural disasters in Louisiana and Oregon. I am optimistic and confident about 2021 and the future of Boise Cascade," commented Nate Jorgensen, CEO. |
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