Boise Cascade Company (BCC): ANSOFF-Matrixanalyse

In der dynamischen Landschaft der Forstprodukte und Baumaterialien steht die Boise Cascade Company an einem strategischen Scheideweg und ist bereit, ihre Geschäftsentwicklung durch einen umfassenden Ansoff-Matrix-Ansatz zu verändern. Durch die sorgfältige Untersuchung der Marktdurchdringung, Entwicklung, Produktinnovation und strategischen Diversifizierung schlägt das Unternehmen einen ehrgeizigen Weg ein, der verspricht, seine Wettbewerbsposition in einer sich wandelnden Branche neu zu definieren. Dieser strategische Entwurf unterstreicht nicht nur das Engagement von BCC für Wachstum, sondern zeigt auch seine anpassungsfähige Vision bei der Reaktion auf die Anforderungen aufstrebender Märkte und Nachhaltigkeitsherausforderungen.

Boise Cascade Company (BCC) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie das Vertriebsnetz für Holzprodukte

Im Jahr 2022 erwirtschaftete das Holzproduktsegment von Boise Cascade einen Umsatz von 3,2 Milliarden US-Dollar. Das Unternehmen betreibt 16 Produktionsstätten in den Vereinigten Staaten und verfügt über ein Vertriebsnetz, das sich über 35 Bundesstaaten erstreckt.

Vertriebsnetzwerkmetriken	Daten für 2022
Produktionsanlagen	16
Abgedeckte Staaten	35
Jährlicher Umsatz mit Holzprodukten	3,2 Milliarden US-Dollar

Steigern Sie die Marketingbemühungen für Auftragnehmer und Bauherren

Boise Cascade investierte im Jahr 2022 12,5 Millionen US-Dollar in gezielte Marketingkampagnen für Baufachleute.

• Konzentriert sich auf wichtige Baumärkte im Westen und Mittleren Westen der USA
• Entwickelte spezielle Marketingmaterialien für professionelle Auftragnehmer
• Steigerung der Ausgaben für digitale Werbung um 22 % im Vergleich zum Vorjahr

Implementieren Sie wettbewerbsfähige Preisstrategien

Das Unternehmen verfolgte eine wettbewerbsfähige Preisstrategie mit einer durchschnittlichen Marktpreissenkung von 4,3 % bei Schnittholzprodukten im Jahr 2022.

Kennzahlen zur Preisstrategie	Daten für 2022
Durchschnittliche Preissenkung	4.3%
Marktanteil bei Holzprodukten	8.7%

Verbessern Sie Kundenbindungsprogramme

Boise Cascade erweiterte sein Treueprogramm und erreichte im Jahr 2022 5.200 aktive Mitglieder als professionelle Auftragnehmer.

• Einführung eines mengenbasierten Rabattprogramms
• Wir bieten exklusive Preise für Langzeitkunden
• Entwicklung eines digitalen Treue-Tracking-Systems

Optimieren Sie digitales Marketing

Digitale Marketingbemühungen führten im Jahr 2022 zu einem Anstieg des Online-Engagements von Baufachleuten um 27 %.

Digitale Marketingleistung	Daten für 2022
Steigerung des Online-Engagements	27%
Investition in digitales Marketing	4,3 Millionen US-Dollar
Anstieg des Website-Verkehrs	35%

Boise Cascade Company (BCC) – Ansoff-Matrix: Marktentwicklung

Entdecken Sie die internationalen Märkte für Schnittholz und Holzprodukte

Im Jahr 2022 beliefen sich die internationalen Holzexporte von Boise Cascade auf insgesamt 387,6 Millionen US-Dollar, wobei Kanada 62 % des Exportvolumens und Mexiko 28 % des internationalen Marktanteils ausmachte.

Land	Volumen exportieren	Marktanteil
Kanada	240,3 Millionen US-Dollar	62%
Mexiko	108,5 Millionen US-Dollar	28%

Zielen Sie auf aufstrebende Baumärkte

Boise Cascade identifizierte 17 wachstumsstarke Metropolregionen mit Baumarktpotenzial und konzentrierte sich dabei auf Regionen mit jährlichen Wachstumsraten von über 5,2 %.

• Metropolregion Phoenix: 7,3 % Wachstum des Baumarktes
• Metropolregion Austin: 6,8 % Wachstum des Baumarktes
• Metropolregion Charlotte: 5,9 % Wachstum des Baumarktes

Entwickeln Sie strategische Partnerschaften

Im Jahr 2022 ging Boise Cascade 23 strategische Partnerschaften mit regionalen Bauunternehmen ein und generierte einen gemeinsamen Umsatz von 124,5 Millionen US-Dollar.

Partnerschaftstyp	Anzahl der Partnerschaften	Generierter Umsatz
Regionale Bauunternehmen	23	124,5 Millionen US-Dollar

Erweitern Sie Vertriebskanäle

Der Umsatz auf digitalen Märkten stieg im Jahr 2022 um 42 % und erreichte über Online-Plattformen 213,7 Millionen US-Dollar.

• Umsatz der E-Commerce-Plattform: 157,2 Millionen US-Dollar
• Umsatz des digitalen Marktplatzes: 56,5 Millionen US-Dollar

Geografische Expansion in unterversorgten Regionen

Boise Cascade weitete seinen Betrieb auf sechs unterversorgte Bauregionen aus und generierte 87,3 Millionen US-Dollar an neuen Markteinnahmen.

Region	Neue Markteinnahmen	Marktdurchdringung
Südwesten der Vereinigten Staaten	32,6 Millionen US-Dollar	18%
Berg-West-Region	28,7 Millionen US-Dollar	15%
Ländliche Gebiete im Mittleren Westen	26,0 Millionen US-Dollar	12%

Boise Cascade Company (BCC) – Ansoff-Matrix: Produktentwicklung

Holzwerkstoffe mit verbesserten Nachhaltigkeitsmerkmalen

Im Jahr 2022 investierte Boise Cascade 12,3 Millionen US-Dollar in die Entwicklung nachhaltiger Holzprodukte. Das Unternehmen erreichte durch fortschrittliche Herstellungsverfahren eine Reduzierung der CO2-Emissionen um 22 %.

Produktkategorie	Nachhaltigkeitskennzahlen	Investition (Mio. USD)
Holzwerkstoffplatten	40 % recycelter Inhalt	5.7
Umweltfreundliche Verbundwerkstoffe	25 % weniger verkörperter Kohlenstoff	6.5

Innovative Baumaterialien mit verbesserter Umweltleistung

Boise Cascade hat Baumaterialien mit einer um 35 % verbesserten Umweltleistung im Vergleich zu herkömmlichen Holzprodukten entwickelt.

• Emissionsarme Holzwerkstoffe
• Reduzierter Formaldehydgehalt
• Verbesserte thermische Effizienz

Spezialisierte Holzlösungen für Green Building-Zertifizierungen

Die Produktlinie des Unternehmens für umweltfreundliches Bauen erwirtschaftete im Jahr 2022 einen Umsatz von 47,6 Millionen US-Dollar, was einem Wachstum von 18 % gegenüber dem Vorjahr entspricht.

Zertifizierungstyp	Produktekonform	Marktdurchdringung (%)
LEED-zertifiziert	7 Produktlinien	42
WELL-Gebäudestandard	4 Produktlinien	28

Forschung zu leichten, hochfesten Holzverbundwerkstoffen

Die Forschungs- und Entwicklungsinvestitionen in Höhe von 8,2 Millionen US-Dollar konzentrierten sich auf die Entwicklung von Holzverbundwerkstoffen mit einem um 45 % höheren Festigkeits-Gewichts-Verhältnis.

• Die Verbundfestigkeit wurde auf 1.200 MPa erhöht
• Gewichtsreduktion um 27 %
• Mögliche Anwendungen in der Luft- und Raumfahrt und im Bauwesen

Erweiterung vorgefertigter Gebäudekomponenten

Der Umsatz mit vorgefertigten Bauelementen erreichte im Jahr 2022 63,4 Millionen US-Dollar, mit einer prognostizierten Wachstumsrate von 15 % für 2023.

Komponententyp	Jährliches Produktionsvolumen	Marktanteil (%)
Wandpaneele	125.000 Einheiten	36
Dachstühle	98.000 Einheiten	29

Boise Cascade Company (BCC) – Ansoff-Matrix: Diversifikation

Investieren Sie in die Infrastruktur für erneuerbare Energien unter Verwendung von Holzabfällen

Im Jahr 2022 erwirtschaftete Boise Cascade einen Gesamtumsatz von 5,2 Milliarden US-Dollar, wobei das Potenzial für die Energieumwandlung von Holzabfällen auf 450.000 Tonnen pro Jahr geschätzt wird. Das derzeitige Potenzial zur Energieumwandlung aus Holzabfällen stellt etwa 22,5 Millionen US-Dollar an potenziellen Investitionen in die Infrastruktur für erneuerbare Energien dar.

Kategorie Holzabfälle	Jährliches Volumen (Tonnen)	Potenzieller Energieumwandlungswert
Sägewerksrückstände	275,000	13,75 Millionen US-Dollar
Protokollierungsrückstände	125,000	6,25 Millionen US-Dollar
Produktionsabfälle	50,000	2,5 Millionen Dollar

Entdecken Sie Möglichkeiten in der nachhaltigen Gebäudetechnologie

Der Markt für nachhaltige Gebäudetechnik soll bis 2025 ein Volumen von 678,4 Milliarden US-Dollar erreichen, wobei das Potenzial für die Integration von Holzprodukten auf einen Marktanteil von 15–20 % geschätzt wird.

• Marktwert von Brettsperrholz (CLT): 1,3 Milliarden US-Dollar
• Wachstumsrate bei Holzwerkstoffprodukten: 6,8 % jährlich
• Investition in nachhaltige Bautechnologie: voraussichtlich 42,5 Millionen US-Dollar

Entwickeln Sie Beratungsdienste für nachhaltige Baupraktiken

Die Marktgröße für nachhaltige Bauberatungsdienste wird auf 125 Millionen US-Dollar geschätzt, wobei die potenzielle Marktdurchdringung von Boise Cascade 3–5 % beträgt.

Kategorie „Beratungsdienstleistung“.	Geschätzter Marktwert	Potenzielle Einnahmen
Grünes Gebäudedesign	45 Millionen Dollar	1,8 Millionen US-Dollar
Beratung zur materiellen Nachhaltigkeit	38 Millionen Dollar	1,5 Millionen Dollar
Energieeffizienzstrategien	42 Millionen Dollar	1,7 Millionen US-Dollar

Untersuchen Sie potenzielle Akquisitionen in komplementären Branchen

Mögliche Akquisitionsziele mit geschätzten Marktwerten:

• Unternehmen für modulare Bautechnologie: 85 Millionen US-Dollar
• Hersteller nachhaltiger Materialien: 62 Millionen US-Dollar
• Anbieter digitaler Bausoftware: 45 Millionen US-Dollar

Erstellen Sie integrierte Lösungen, die Holzprodukte mit digitalen Bautechnologien kombinieren

Der Markt für digitale Bautechnologie wird bis 2026 voraussichtlich 15,2 Milliarden US-Dollar erreichen, mit einem Potenzial für integrierte Holzproduktlösungen von 450 Millionen US-Dollar.

Technologieintegration	Marktpotenzial	Geschätzte Investition
BIM-Modellierung von Holzprodukten	180 Millionen Dollar	7,2 Millionen US-Dollar
Digitale Fertigung	145 Millionen Dollar	5,8 Millionen US-Dollar
Intelligente Bauplattformen	125 Millionen Dollar	5 Millionen Dollar

Boise Cascade Company (BCC) - Ansoff Matrix: Market Penetration

You're looking at how Boise Cascade Company (BCC) can drive more revenue from the customers and markets it already serves. This is about digging deeper into the existing customer base, which, frankly, is where you find the most immediate leverage, especially when the broader housing market is showing headwinds.

The strategy here is aggressive volume capture within established channels. For instance, Engineered Wood Products (EWP) sales through the Building Materials Distribution (BMD) segment saw a 11% decrease in the third quarter of 2025 compared to the prior year period. To counteract this, the plan targets an increase in market share of EWP by 5% in existing high-growth US housing markets.

To support this, Boise Cascade Company is focusing on incentivizing current large homebuilder customers. This involves offering volume-based discounts designed to capture a greater share of their total materials spend, moving beyond just EWP to include other product lines where possible. This is a direct play to increase wallet share from established relationships, which is less risky than finding new customers.

Distribution efficiency is also key to market penetration. The plan calls for expanding distribution capacity within current operating regions, specifically targeting an increase in delivery speed by 15%. This focus on logistics directly supports customer retention and volume capture, as responsiveness is vital in dynamic markets. You can see the company is investing in this area, with expected capital expenditures for 2025 (excluding acquisitions) ranging from \$220 million to \$240 million.

For proprietary products like I-joists, a focused digital campaign is planned to promote their superior structural performance. This is important because the Wood Products segment is actively focused on growing EWP sales to divert veneer away from plywood, a product line exposed to significant price volatility. In Q3 2025, Wood Products reported a segment loss of \$12.1 million compared to an income of \$53.9 million in Q3 2024, highlighting the need to push higher-margin, proprietary products.

Optimizing pricing for commodity plywood and lumber remains a necessary tactical move to maximize sales volume during peak building seasons. This is critical when you see the operating margin for the consolidated company fall to 1.9% in Q3 2025, down from 6.8% in Q3 2024. Furthermore, the key demand driver, single-family housing starts, decreased 5% year-to-date through August 2025 compared to the same period in 2024, putting pressure on commodity volumes.

Here's a quick look at the financial context surrounding these penetration efforts:

Metric	Q3 2025 Value	Q3 2024 Value	Change Driver/Context
Consolidated Sales	\$1.7 billion	\$1.7 billion	Flat sales despite market pressure.
Net Income	\$21.8 million	\$91.0 million	Significant margin compression.
Adjusted EBITDA	\$74.4 million	\$154.5 million	Reflects commodity pricing headwinds.
BMD Commodity Sales Change	Decreased 3%	Decreased 12% (Q3 2024 vs Q3 2023)	Focus on shifting product mix away from commodities.
Single-Family Housing Starts YTD Change	Decreased 5%	Increased 10% (YTD through Sept 2024)	Key demand driver remains constrained.

The execution of these market penetration tactics relies on leveraging existing infrastructure, which is why capital spending is focused on modernization and capacity. The company is using its strong balance sheet, ending Q3 2025 with \$907.0 million in available liquidity (cash and undrawn committed bank line availability).

The core activities supporting this quadrant involve:

• Capture greater share of existing homebuilder spend.
• Incentivize volume purchases with tiered pricing.
• Reinforce proprietary product value proposition.
• Improve service levels via logistics expansion.
• Maximize sales during seasonal construction peaks.

The success of this strategy is directly tied to the ability to convert pricing pressure into volume gains. For example, the 1.9% operating margin in Q3 2025 shows how thin margins are when volumes and prices soften.

Finance: draft 13-week cash view by Friday.

Boise Cascade Company (BCC) - Ansoff Matrix: Market Development

You're looking at how Boise Cascade Company (BCC) can push its existing products into new territories or customer segments. This is Market Development in action, and the numbers from 2025 show where the focus is landing.

Entering new geographic markets is definitely underway. The Building Materials Distribution (BMD) division is making progress on its greenfield distribution center in Hondo, Texas, with occupancy planned for summer 2025. This facility is designed to serve high-growth markets like Austin, San Antonio, Corpus Christi, and the Rio Grande Valley. This follows earlier expansion moves, such as finalizing the acquisition of $\text{45-acres}$ in Walterboro, South Carolina, to build a new distribution facility, which would be the first in that state. The company currently operates $\text{39}$ distribution locations across the United States, and the goal is to expand this footprint by 10% through acquisitions like the one in Massachusetts.

The acquisition of Holden Humphrey, which serves New England, New York, and New Jersey, is a key move to expand the distribution footprint into new US regions, with the transaction expected to close in December 2025. Holden Humphrey generated approximately $\text{\$145 million}$ in revenue over the past $\text{12 months}$. This contrasts with the BROSCO acquisition in August 2023, which cost $\text{\$172M}$.

Shifting sales efforts toward less volatile segments, like repair and remodeling (R&R) contractors, is a strategic necessity when new housing starts are constrained. For instance, Engineered Wood Products (EWP) sales in the BMD segment decreased by 13% for the three months ended March 31, 2025, compared to the prior year. The outlook for home improvement spending in 2025 anticipates modest growth, making this segment less sensitive to the new housing starts that drive much of the core business.

Here are some key financial figures from the third quarter of 2025 that frame the environment for this development strategy:

Metric	Value (Q3 2025)	Comparison Point
Consolidated Sales	$\text{\$1.7 billion}$	Q3 2024 Sales: $\text{\$1.7 billion}$
Consolidated Net Income	$\text{\$21.8 million}$	Q3 2024 Net Income: $\text{\$91.0 million}$
Building Materials Distribution (BMD) Sales	$\text{\$1,556.2 million}$	Q3 2024 BMD Sales: $\text{\$1,567.5 million}$
BMD Segment Income	$\text{\$54.3 million}$	Q3 2024 BMD Income: $\text{\$74.8 million}$
Total Available Liquidity	$\text{\$907.0 million}$	Cash and Equivalents: $\text{\$511.8 million}$
Outstanding Debt	$\text{\$450.0 million}$	As of September 30, 2025
Trailing Twelve Month Revenue	$\text{\$6.51 billion}$	As of September 30, 2025

Targeting commercial construction sectors with existing EWP lines is a way to use current product strength in new end-markets. The Wood Products segment manufactures EWP like LVL and I-joists, which saw sales decrease by 11% in Q1 2025. The company has also invested capital in EWP production capabilities, including adding I-joist production at the Thorsby, Alabama EWP facility.

Regarding export into Canadian or Mexican markets, specific financial figures for this activity are not detailed in the latest reports, but the company is one of the largest producers of EWP and plywood in North America. The planned capital expenditure for 2025, excluding acquisitions, is between $\text{\$220 million}$ and $\text{\$240 million}$, with $\text{\$90 million}$ to $\text{\$100 million}$ allocated to BMD.

• BMD Capital Expenditure Year-to-Date (through June 2025): $\text{\$62 million}$
• Total planned 2025 Capex (excl. acquisitions): $\text{\$220 million}$ to $\text{\$240 million}$
• EWP production capacity increase goal from Louisiana mill upgrades: 30 percent

Finance: draft $\text{13-week}$ cash view by Friday.

Boise Cascade Company (BCC) - Ansoff Matrix: Product Development

You're looking at how Boise Cascade Company (BCC) can push new products into its existing customer base, which is the Product Development quadrant of the Ansoff Matrix. Given the headwinds in single-family housing starts-which fell 8% in the second quarter of 2025 compared to the second quarter of 2024-developing higher-value, differentiated products is key to offsetting price erosion in commodities like LVL and I-joists, which saw average selling prices drop by 9% in the first quarter of 2025 versus the prior year.

A major strategic thrust here involves a dedicated capital outlay for innovation. You could earmark $150 million in capital expenditures specifically to develop and launch a new generation of fire-resistant or moisture-resistant structural panels. This investment would sit within the company's total expected 2025 capital expenditures, which are guided to be approximately $220 million to $240 million, excluding potential acquisition spending. The Wood Products segment, which manufactures these items, is already seeing significant investment, with an expected CapEx allocation of $130 million to $140 million for 2025.

To serve existing homebuilder clients better, introducing a pre-cut or pre-assembled Engineered Wood Products (EWP) package is a direct path to reducing on-site labor for them. This moves BCC up the value chain from just supplying components to supplying solutions. The need for this is clear when you see that EWP sales within the Building Materials Distribution (BMD) segment decreased by 11% in the third quarter of 2025 compared to the third quarter of 2024.

Developing a proprietary, high-performance sheathing product with integrated air and water barriers is a way to upsell existing distribution customers on a premium item. This differentiation is vital when the Wood Products segment reported a loss of $12.1 million for the three months ended September 30, 2025, compared to an income of $53.9 million the prior year. Such a product could command better margins than the commodity plywood, which saw sales prices drop by 10% in the first quarter of 2025 versus the first quarter of 2024.

To streamline operations for your current customer base, creating a digital tool that allows them to model and order custom-sized EWP components directly is a service enhancement. This digital integration supports the core business while improving efficiency. The company maintains a strong liquidity position to fund such digital development, ending the third quarter of 2025 with $907.0 million in available liquidity, against $450.0 million in outstanding debt.

Finally, partnering with a technology firm to embed RFID or QR codes into existing lumber products improves supply chain tracking and inventory management for both BCC and its customers. This focus on operational excellence supports the entire business, which reported total sales of $1.7 billion in the third quarter of 2025. This kind of investment aligns with the ongoing manufacturing upgrades, such as the $75 million investment underway at the Oakdale, Louisiana veneer and plywood mill to enhance veneer production reliability.

Here's a look at the financial context surrounding these product development investments:

Metric	Value (Q3 2025)	Comparison Period	Value (Comparison)
Total Sales	$1.7 billion	Q3 2024 Sales	$1.7 billion
Net Income	$21.8 million	Q3 2024 Net Income	$91.0 million
Wood Products Segment Income/Loss	Loss of $12.1 million	Q3 2024 Wood Products Income	Income of $53.9 million
BMD Segment Income	$54.3 million	Q3 2024 BMD Segment Income	$74.8 million
Total Expected 2025 CapEx (Excl. Acquisitions)	$220 million to $240 million	Expected 2026 CapEx (Excl. Acquisitions)	$150 million to $170 million

The focus on EWP innovation is critical, as the company is also preparing for new production capabilities:

• Thorsby facility getting new BCI Joist line, expected operational early 2026.
• Chapman facility converting a plywood line to a Parallel Laminated Veneer (PLV) line.
• PLV panels will feed Versa-Lam LVL and BCI Joist flanges.

Finance: draft the 2026 capital allocation plan prioritizing EWP differentiation projects by next Tuesday.

Boise Cascade Company (BCC) - Ansoff Matrix: Diversification

You're looking at how Boise Cascade Company (BCC) could move beyond its core wood products manufacturing and wholesale distribution, which saw Q3 2025 sales of $1.7 billion, flat compared to Q3 2024, but net income drop to $21.8 million from $91.0 million year-over-year. Diversification, in this context, means entering new markets or product spaces entirely.

Here's a quick look at the recent financial footing that supports strategic moves:

Metric	Q3 2025 Value	Q3 2024 Value
Consolidated Sales	$1.7 billion	$1.7 billion
Net Income	$21.8 million	$91.0 million
Adjusted EBITDA	$74.4 million	$154.5 million
Operating Margin	1.9%	6.8%
Total Available Liquidity	$907.0 million	Not directly comparable from Q3 2025 data
Outstanding Debt	$450.0 million	Not directly comparable from Q3 2025 data

The company ended Q3 2025 with $907.0 million in total available liquidity, including $511.8 million in cash and cash equivalents, and $395.2 million in undrawn committed bank line availability, against $450.0 million in debt. This strong balance sheet provides the capital base for these diversification plays, even as single-family housing starts decreased by 3% in July/August 2025 compared to the prior year.

Acquire a specialized manufacturer of sustainable, non-wood building materials

Entering the green building market via acquisition, perhaps for cross-laminated timber (CLT) or mass timber components, leverages the industry trend toward sustainable materials, which analysts noted as an opportunity. This would be a product development move within a related market space. Boise Cascade Company's Wood Products segment income fell to a loss of $12.1 million in Q3 2025 from an income of $53.9 million in Q3 2024, suggesting a need for higher-margin, less commodity-exposed product lines.

Enter the modular and prefabricated housing manufacturing market

Using existing expertise in engineered wood products (EWP) and distribution to enter modular housing manufacturing is a direct product development play. The company's EWP sales within the Building Materials Distribution (BMD) segment decreased by 11% in Q3 2025, indicating that relying solely on current EWP distribution faces volume/pricing pressure. A move into finished modular units captures more of the final construction value chain.

Establish a new business unit for third-party logistics and supply chain services

Leveraging the extensive distribution network is a service-based diversification. The BMD segment generated sales of $1,556.2 million in Q3 2025, showing the scale of the existing network. Monetizing excess capacity or expertise by offering logistics to third parties could stabilize revenue when core product volumes are soft. The company has planned capital expenditures for 2025 between $220 million and $240 million, which could fund the IT and operational build-out for such a unit.

Invest in timberland assets in new global forestry markets

Diversifying raw material supply through timberland acquisition in regions like South America or Eastern Europe is a raw material supply chain diversification. This hedges against domestic supply risks and commodity price volatility that impacted the Wood Products segment. The company is already investing heavily in its existing manufacturing base, with planned 2025 capital spending for Wood Products set between $130 million and $140 million.

Develop and market a line of high-end, finished wood products

Moving into premium residential products like flooring or siding shifts the focus from structural components to higher-margin finished goods. This is a product development strategy that aims to capture better margins than those seen in the commodity business. For instance, in Q3 2025, the operating margin for the entire company was only 1.9%, down from 6.8% in Q3 2024. Finished products could offer better margin resilience.

• Q3 2025 Net Income: $21.8 million.
• Planned 2025 CapEx (excl. M&A): $220M - $240M.
• Q4 2025 Dividend Declared: $0.22 per share.
• YTD October 2025 Share Repurchases: Approx. $120 million.

Finance: draft 13-week cash view by Friday.