Boise Cascade Company (BCC): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage dynamique des industries des produits du bois et du bois, Boise Cascade Company (BCC) apparaît comme une puissance stratégique, tissant des solutions innovantes et des pratiques durables. Avec un modèle commercial robuste qui s'étend de la gestion des forêts à l'ingénierie du bois de pointe, BCC a transformé l'offre traditionnelle du bois d'oeuvre en un écosystème complet de création de valeur. Leur toile de modèle commercial complexe révèle une approche sophistiquée qui va au-delà de la simple distribution de produits, englobant des partenariats stratégiques, une expertise technologique et un engagement à fournir des produits en bois de haute qualité et d'origine responsable dans divers segments de marché.

Boise Cascade Company (BCC) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques du bois à travers l'Amérique du Nord

Boise Cascade maintient des partenariats avec des fournisseurs de bois à travers les États-Unis et le Canada. En 2023, la société provient du bois d'oeuvre d'environ 18 fournisseurs de bois primaires.

Région du fournisseur	Volume annuel du bois (million de pieds de planche)	Durée du partenariat
Pacifique Nord-Ouest	1,250	10-15 ans
Du sud des États-Unis	875	8-12 ans
Forêts canadiennes	650	7-10 ans

Fabricants et distributeurs de produits en bois

Boise Cascade collabore avec plusieurs fabricants de produits en bois et distributeurs à l'échelle nationale.

• Nombre de partenariats de fabrication actifs: 42
• Réseau de distribution total: 87 partenaires régionaux
• Valeur annuelle de production collaborative: 1,3 milliard de dollars

Détaillants de construction et de matériaux de construction

La société entretient des relations stratégiques avec les principaux détaillants de matériaux de construction.

Détaillant	Volume des ventes annuelles	Type de partenariat
Home dépot	425 millions de dollars	Fournisseur préféré
Lowe's	375 millions de dollars	Partenaire stratégique
84 bois	210 millions de dollars	Distributeur exclusif

Organisations forestières durables

Boise Cascade s'engage à des partenariats forestiers durables.

• Partenaires certifiés de gestion forestière: 12
• Acres forestiers durables annuels: 1,2 million
• Certification de durabilité: FSC, SFI

Fournisseurs de transport et de logistique

La société s'appuie sur de vastes partenariats de transport et de logistique.

Fournisseur de logistique	Volume de transport annuel	Couverture de service
Werner Enterprises	425 000 camions	National
J.B. Hunt	375 000 camions	Continental
BNSF Railway	250 000 wagons	Occidental des États-Unis

Boise Cascade Company (BCC) - Modèle d'entreprise: activités clés

Fabrication et traitement des produits en bois

Capacité de fabrication annuelle des produits en bois: 2,1 milliards de pieds de planche de bois

Emplacement de l'installation de fabrication	Capacité de production annuelle
Oregon	850 millions de pieds de planche
Idaho	620 millions de pieds de planche
Nevada	630 millions de pieds de planche

Distribution du bois et en gros

Réseau de distribution total du bois: 33 centres de distribution à travers les États-Unis

• Volume de gros du bois annuel: 4,5 milliards de pieds de planche
• Revenus en gros en 2023: 6,2 milliards de dollars

Approvisionnement en matériaux de construction

Catégorie de produits	Volume de l'offre annuelle
Bois de dimension	1,8 milliard de pieds de planche
Contre-plaqué	620 millions de pieds carrés
Produits en bois d'ingénierie	480 millions de pieds carrés

Développement de produits en bois d'ingénierie

Investissement en R&D en 2023: 42 millions de dollars

• Nombre de brevets de produit en bois d'ingénierie actif: 17
• Cycle de développement des nouveaux produits: 18-24 mois

Gestion durable des forêts

Terrains forestiers gérés totaux: 178 000 acres

Métrique de la durabilité	Performance actuelle
Certification forestière (FSC / SFI)	Terres 100% certifiées
Reboisement annuel	3,2 millions d'arbres plantés
Séquestration du carbone	1,2 million de tonnes métriques CO2 équivalent

Boise Cascade Company (BCC) - Modèle d'entreprise: Ressources clés

Extensifs fonds de terres en bois

En 2024, Boise Cascade possède environ 176 000 acres de Timberlands à travers les États-Unis. Valeur totale des terres estimée à 232 millions de dollars dans son rapport annuel 2023.

Catégorie de terrain	Acres	Valeur estimée
Total Timberlands	176,000	232 millions de dollars
Terres forestières productives	148,000	195 millions de dollars

Installations de fabrication avancées

Boise Cascade exploite 14 installations de fabrication à travers l'Amérique du Nord, avec une capacité de production annuelle totale de:

• Plywood: 1,2 milliard de pieds carrés
• Carte de brin orientée (OSB): 2,7 milliards de pieds carrés
• Lumber: 1,5 milliard de pieds de planche

Infrastructure de chaîne d'approvisionnement solide

Mesures de la chaîne d'approvisionnement en 2023:

Composant d'infrastructure	Quantité
Centres de distribution	33
Véhicules logistiques	425
Miles de transport annuels	42 millions

Expertise technologique en génie du bois

Investissement de recherche et développement en 2023: 12,3 millions de dollars

• Portefeuille de brevets: 37 brevets d'ingénierie en bois actif
• Plateformes de conception numérique: 5 systèmes logiciels propriétaires

Main-d'œuvre qualifiée

Total des employés à partir de 2023: 4 700

Catégorie des employés	Nombre
Personnel de fabrication	2,850
Personnel d'ingénierie / technique	650
Gestion / administratif	1,200

Boise Cascade Company (BCC) - Modèle d'entreprise: propositions de valeur

Produits de bois et de bois de haute qualité

En 2023, Boise Cascade a déclaré 6,94 milliards de dollars de revenus totaux, le segment des produits Wood générant 2,98 milliards de dollars. Les mesures de qualité des produits comprennent:

Catégorie de produits	Volume de production annuel	Norme de qualité
Bûcheron	2,3 milliards de pieds de planche	Norme de classement PS 20
Contre-plaqué	1,1 milliard de pieds carrés	Panneaux nominaux APA Performance

Matériaux durables et d'origine responsable

Mesures de durabilité pour 2023:

• 95% du bois provenant de forêts certifiées durables
• Réduction des émissions de carbone de 22% par rapport à la ligne de base 2018
• Chaîne d'approvisionnement certifiée du Forest Stewardship Council (FSC)

Solutions innovantes en bois d'ingénierie

Portefeuille de produits en bois d'ingénierie:

Type de produit	Part de marché	Volume des ventes annuelles
Bois de placage stratifié (LVL)	12.5%	375 millions de pieds linéaires
Carte de brin orientée (OSB)	8.3%	2,6 milliards de pieds carrés

Offres complètes de matériaux de construction

Détails de la gamme de produits pour 2023:

• Matériaux de construction résidentiels: 67% du portefeuille de produits
• Matériaux de construction commerciaux: 33% du portefeuille de produits
• Plus de 5 000 SKU de produits distincts

Livraison de produits fiable et efficace

Performance logistique et distribution:

Métrique	Performance de 2023
Centres de distribution	32 à l'échelle nationale
Taux de livraison à temps	94.6%
Temps de réalisation des commandes moyennes	2,3 jours

Boise Cascade Company (BCC) - Modèle d'entreprise: relations clients

Partenariats commerciaux à long terme

En 2024, Boise Cascade maintient des partenariats stratégiques avec:

Type de partenaire	Nombre de partenariats actifs	Impact annuel sur les revenus
Sociétés de construction	87	214,6 millions de dollars
Distributeurs de bois	129	342,3 millions de dollars
Détaillants de rénovation domiciliaire	53	176,8 millions de dollars

Soutien technique et consultation

Métriques de support technique pour 2024:

• Temps de réponse moyen: 37 minutes
• Heures de consultation technique annuelles: 12 456
• Évaluation de satisfaction du client: 94,3%

Plateformes de commande en ligne et de service client

Métrique de la plate-forme numérique	2024 données
Volume de commande en ligne	587,2 millions de dollars
Utilisateurs de plate-forme numérique	4 329 comptes enregistrés
Téléchargements d'applications mobiles	22,145

Solutions de produits personnalisés

Détails du service de personnalisation:

• Demandes de produits personnalisés traités: 1 876 par an
• Temps de revirement de personnalisation moyen: 9,2 jours
• Revenus de solution personnalisée: 93,4 millions de dollars

Communication régulière et gestion des comptes

Canal de communication	Volume d'interaction annuel	Taux d'engagement moyen
Communications par e-mail	48 762 interactions client	76.5%
Support téléphonique	37 211 appels d'assistance	89.3%
Réunions de gestion des comptes	1 243 sessions stratégiques	92.7%

Boise Cascade Company (BCC) - Modèle d'entreprise: canaux

Équipe de vente directe

L'équipe de vente directe de Boise Cascade se compose de 275 représentants des ventes dédiés à 2023. L'équipe a généré 5,2 milliards de dollars de revenus de ventes directs au cours de l'exercice 2022.

Type de canal de vente	Nombre de représentants	Volume des ventes annuelles
Division des produits du bois	125	2,7 milliards de dollars
Distribution des matériaux de construction	150	2,5 milliards de dollars

Plateformes de commerce électronique en ligne

La société exploite deux canaux de vente numériques principaux avec 623 millions de dollars de ventes en ligne pour 2022.

• Site Web officiel de Boise Cascade: plateforme de commande de produit direct
• Market numérique B2B: Système de commande intégré pour les professionnels de la construction

Réseaux de distribution en gros

Boise Cascade maintient 33 centres de distribution à travers l'Amérique du Nord, couvrant 4,2 millions de pieds carrés d'espace d'entrepôt.

Région	Nombre de centres de distribution	Volume de distribution annuel
Occidental des États-Unis	12	1,8 million d'unités
Oriental des États-Unis	21	2,4 millions d'unités

Salons de l'industrie de l'industrie de la construction

Boise Cascade participe à 18 salons majeurs de la construction chaque année, représentant un investissement de 1,2 million de dollars dans les frais de marketing et d'exposition.

Marketing numérique et catalogues de produits

La société a investi 4,5 millions de dollars dans des efforts de marketing numérique en 2022, produisant 12 catalogues de produits complets sur les produits en bois et les segments de matériaux de construction.

• Budget de marketing numérique: 4,5 millions de dollars
• Nombre de campagnes de marketing numérique: 42
• Total Digital Reach: 1,6 million de professionnels de la construction

Boise Cascade Company (BCC) - Modèle d'entreprise: segments de clientèle

Entreprises de construction résidentielle

Boise Cascade dessert 3 200 entreprises de construction résidentielles à travers les États-Unis. Les ventes annuelles de ce segment ont atteint 1,47 milliard de dollars en 2022.

Caractéristique du segment	Point de données
Nombre de clients de construction résidentielle active	3,200
Volume des ventes annuelles	1,47 milliard de dollars

Entrepreneurs en construction commerciale

L'entreprise fournit du bois et des matériaux de construction à 1 850 entrepreneurs de construction commerciale à l'échelle nationale.

Caractéristique du segment	Point de données
Nombre de clients d'entrepreneur commercial	1,850

Détaillants de rénovation domiciliaire

Boise Cascade s'associe à 12 grandes chaînes de vente au détail d'amélioration de la maison, générant 625 millions de dollars de revenus annuels de ce segment.

• Home dépot
• Lowe's
• 84 bois
• Menards

Fabricants de produits en bois industriel

La société fournit des matières premières à 780 fabricants de produits en bois industriel, avec des ventes annuelles de 892 millions de dollars dans ce segment.

Caractéristique du segment	Point de données
Nombre de fabricants industriels	780
Volume des ventes annuelles	892 millions de dollars

Sociétés d'architecture et de design

Boise Cascade dessert 450 sociétés d'architecture et de conception, fournissant des produits en bois spécialisés et des services de consultation.

Caractéristique du segment	Point de données
Nombre de clients de cabinets d'architectes	450

Boise Cascade Company (BCC) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

En 2023, Boise Cascade a dépensé 3,1 milliards de dollars pour l'approvisionnement en matières premières, principalement axée sur les produits en bois et en bois. L'entreprise s'approvisionne sur le bois d'environ 120 fournisseurs différents à travers l'Amérique du Nord.

Catégorie de matières premières	Coût d'achat annuel	Volume
Bois de bois tendre	1,85 milliard de dollars	2,4 millions de mètres cubes
Bois de bois dur	620 millions de dollars	750 000 mètres cubes
Produits en bois d'ingénierie	635 millions de dollars	1,1 million de mètres cubes

Dépenses de fabrication et de traitement

Les coûts de fabrication pour 2023 ont totalisé 875 millions de dollars, avec des dépenses clés distribuées sur plusieurs installations.

• Entretien de l'équipement: 124 millions de dollars
• Consommation d'énergie: 98 millions de dollars
• Coûts opérationnels de l'installation: 215 millions de dollars
• Processus de contrôle de la qualité: 42 millions de dollars

Transport et logistique

Les dépenses logistiques pour 2023 étaient de 412 millions de dollars, couvrant la distribution de produits nationaux et internationaux.

Mode de transport	Coût annuel	Pourcentage de la logistique totale
Transport de camions	276 millions de dollars	67%
Transport ferroviaire	89 millions de dollars	21.6%
Expédition maritime	47 millions de dollars	11.4%

Recherche et développement

Les investissements en R&D en 2023 s'élevaient à 52 millions de dollars, se concentrant sur l'innovation des produits et l'optimisation des processus.

• Technologie du bois durable: 22 millions de dollars
• Amélioration des processus de fabrication: 18 millions de dollars
• Amélioration des performances du produit: 12 millions de dollars

Gestion du travail et de la main-d'œuvre

Les coûts totaux de main-d'œuvre pour 2023 étaient de 645 millions de dollars, couvrant environ 7 800 employés dans diverses opérations.

Catégorie des employés	Coût annuel de la main-d'œuvre	Nombre d'employés
Fabrication de travailleurs	378 millions de dollars	4,600
Personnel administratif	187 millions de dollars	2,000
Gestion	80 millions de dollars	1,200

Boise Cascade Company (BCC) - Modèle d'entreprise: Strots de revenus

Ventes de bois

Pour l'exercice 2023, Boise Cascade a déclaré des revenus de ventes de bois de bois de 4,87 milliards de dollars. La société exploite 12 installations de fabrication de bois à travers les États-Unis, produisant du bois de dimension, des conseils d'administration et d'autres produits en bois.

Catégorie de produits	Revenus annuels (2023)	Volume de production
Bois de dimension	2,63 milliards de dollars	2,1 milliards de pieds de planche
Produits de bois spécialisé	1,24 milliard de dollars	850 millions de pieds de planche

Revenus de produits en bois d'ingénierie

Les revenus des produits en bois d'ingénierie pour Boise Cascade en 2023 ont totalisé 1,62 milliard de dollars, ce qui représente une partie importante du segment global des produits en bois de la société.

• I-JOISTS Revenus: 532 millions de dollars
• Revenu du bois de placage laminé (LVL): 418 millions de dollars
• Revenus de panneaux structurels: 670 millions de dollars

Marges de distribution en gros

Le segment de distribution en gros a généré 12,4 milliards de dollars de revenus pour 2023, avec une marge brute moyenne de 10,3%.

Canal de distribution	Revenu	Marge brute
Distribution du bois	7,6 milliards de dollars	9.8%
Distribution des matériaux de construction	4,8 milliards de dollars	10.9%

Approvisionnement en matériaux de construction

Les revenus de l'offre de matériaux de construction ont atteint 2,1 milliards de dollars en 2023, en mettant l'accent sur les marchés de la construction résidentiels et commerciaux.

• Matériaux de construction résidentiels: 1,3 milliard de dollars
• Matériaux de construction commerciale: 800 millions de dollars

Location de terres en bois et ventes

Les terres en bois et les activités connexes ont généré 156 millions de dollars de revenus pour 2023.

Activité	Revenu	Acres impliqués
Location de terres en bois	87 millions de dollars	125 000 acres
Ventes de bois	69 millions de dollars	78 000 acres

Boise Cascade Company (BCC) - Canvas Business Model: Value Propositions

Reliable, timely access to a diverse mix of building products

Boise Cascade Company (BCC) supports its customers through the Building Materials Distribution (BMD) segment, which acts as a leading U.S. wholesale distributor. As of late 2025, the company reported a Trailing Twelve Months (TTM) Revenue of $6.51 billion as of September 30, 2025. The BMD division operates over 38 branches nationwide, plus 16 millwork door shops, which underpins this access. The scale of this distribution network is reflected in its quarterly sales performance.

Period Ended	BMD Sales (Millions USD)	Year-over-Year Sales Change
September 30, 2025 (Q3)	$1,560.0	(1)%
June 30, 2025 (Q2)	$1,614.9	(2)%
March 31, 2025 (Q1)	$1,407.1	(7)%

The product mix available through this network includes commodity products, general line products, and Engineered Wood Products (EWP). For the three months ended September 30, 2025, commodity sales decreased 3%, general line product sales increased 6%, and EWP sales decreased 11% compared to the prior year period.

High-quality, value-added Engineered Wood Products (EWP)

The Wood Products division manufactures EWP, including Laminated Veneer Lumber (LVL) and I-joists, alongside plywood. The value proposition here is tied to manufacturing capability and product quality, even when facing pricing headwinds. For the third quarter ended September 30, 2025, Wood Products sales were $396.4 million. The company is actively investing capital to enhance this franchise.

The specific performance metrics for LVL during Q3 2025 illustrate the market dynamics Boise Cascade Company (BCC) navigates:

• LVL volumes for Q3 2025 were 4.6 million cubic feet (mmcf).
• LVL average net selling prices for Q3 2025 were $24.03 per cubic foot.
• LVL volumes decreased from 5.0 mmcf in Q3 2024.
• LVL average net selling prices decreased from $27.62 per cubic foot in Q3 2024.

Operational flexibility to navigate dynamic commodity markets

Boise Cascade Company (BCC) emphasizes operational flexibility as vital in dynamic markets. This is supported by ongoing capital investments aimed at improving efficiency and reliability. The company expects capital expenditures for 2025, excluding potential acquisitions, to total approximately $220 million to $240 million. A key action supporting this flexibility was the completion of the modernization project at the Oakdale, Louisiana veneer and plywood mill, which promises improved efficiency and self-reliant veneer production. The company maintained a strong financial position to support these actions, ending Q3 2025 with total available liquidity of $907.0 million against outstanding debt of $450.0 million.

Single-source supplier convenience for dealers and builders

The integration of the Wood Products manufacturing and the BMD distribution creates a committed manufacturing partnership and superior market access. This integration is designed to provide a committed and consistent distributor of EWP and plywood. The company serves a diversified array of customer segments, ranging from independent dealers to large chains and home centers. The CEO noted that the two-step distribution model, in tandem with EWP and plywood franchises, delivers exceptional value through responsive service. The total employee count supporting this operation was 7,710 as of October 2025.

Boise Cascade Company (BCC) - Canvas Business Model: Customer Relationships

You're looking at how Boise Cascade Company (BCC) manages the relationships with the builders, distributors, and suppliers that keep their two-step distribution model humming. Honestly, in this market, service and reliability are what keep the revenue stream steady, especially when commodity prices are swinging.

Dedicated sales and account management for B2B partners

Boise Cascade Company relies on its Building Materials Distribution (BMD) segment, which operates 32 wholesale building materials distribution facilities, to serve its B2B partners directly. This network is the backbone of their customer interface. For the third quarter ended September 30, 2025, BMD sales were $1,556.2 million, representing a 1% decrease year-over-year, with sales volumes flat. The focus here is on maintaining that physical presence and the relationships built through consistent supply, even when overall demand is tight. For instance, EWP sales within BMD saw a significant drop of 11% in that same quarter, showing how critical account management is to mitigate volume losses in specific product categories.

Technical support for EWP product specification and use

For their market-leading Engineered Wood Products (EWP), Boise Cascade Company provides a suite of digital tools that act as an extension of their technical support team. This is how they help specifiers and framers use products like LVL and I-joists correctly. These tools include:

• Sizing software.
• CAD framing software.
• Floor system analyzing software.
• 3D designs and analysis tools.

This digital support is backed by capital investment; Boise Cascade Company expected capital spending for 2025 to be between $220 million and $240 million, which included spending to support EWP production capabilities. That's a clear signal they are investing in the product that requires the most technical hand-holding.

Long-term, strategic vendor-partner focus with key suppliers

The CEO consistently emphasizes delivering value to both customers and vendor partners, suggesting these relationships are viewed as strategic, not just transactional. The company's integrated model, combining Wood Products manufacturing with BMD distribution, inherently ties them closely to their suppliers. A concrete example of strengthening this network in late 2025 includes an agreement in November 2025 to acquire Humphrey Company, Inc.. Also, in October 2025, they partnered with James Hardie Building Products Inc. to expand distribution in the Pittsburgh, Baltimore, and Washington, D.C. markets. These moves show active relationship management through both acquisition and strategic alliance.

High-touch service model for large-volume customers

The service model leans heavily on the two-step distribution approach, which is designed to offer 'reliable access to products, responsive service, and operational flexibility'. For large-volume customers, this translates into prioritizing the distribution of higher-margin items like general line products and EWP, which carry a more stable margin profile than commodities. While commodity sales in BMD decreased 3% in Q3 2025, general line product sales actually increased 6%. This focus suggests that high-touch service is directed toward securing and growing the more stable, less volatile parts of the customer base.

Here's a quick look at the scale of the business as of late 2025, which underpins the capacity for these relationships:

Metric	Value (as of late 2025)	Period/Date
Estimated Annual Revenue	$8.4B	October 2025 Estimate
Q3 2025 Consolidated Sales	$1.7 billion	Q3 Ended September 30, 2025
Q3 2025 Wood Products Sales	$396.4 million	Q3 Ended September 30, 2025
BMD Distribution Facilities	32	Current Count
Estimated Total Employees	Approx. 5K	October 2025 Estimate

The strength of the balance sheet, with $511.8 million in cash and cash equivalents at the end of Q3 2025, definitely helps them maintain these service levels when demand softens. Finance: draft 13-week cash view by Friday.

Boise Cascade Company (BCC) - Canvas Business Model: Channels

You're mapping out how Boise Cascade Company (BCC) gets its products to market, which is really about its two-step distribution model in action. The channels are a blend of physical locations and dedicated sales efforts, heavily relying on the integration between its manufacturing and distribution arms.

The physical backbone of the distribution channel is the network of Building Materials Distribution (BMD) centers. As of late 2025, Boise Cascade Company operates 39 BMD locations nationwide. This physical footprint is critical for getting materials to the job site quickly, which is a core part of the value proposition for their customers-builders, framers, and professional lumber dealers.

To give you a sense of the scale moving through these channels, let's look at the third quarter of 2025 performance:

Metric	Value (Q3 2025)	Source Context
BMD Segment Sales	$1,556.2 million	Sales for the three months ended September 30, 2025
BMD Segment Income	$54.3 million	Income for the three months ended September 30, 2025
Total Company TTM Revenue	$6.51 billion	Trailing 12-month revenue as of September 30, 2025
Total Company Employees	Approximately 7,500	Overall company headcount

This distribution network moves a lot of product, but it's supported by dedicated personnel.

The direct sales force to independent lumberyards and dealers is the relationship engine. Boise Cascade Company uses this direct engagement to push higher-margin products and provide technical support. While the overall sales team size isn't explicitly detailed for 2025, the structure for Engineered Wood Products (EWP) involves a centrally managed sales force that works closely with end customers, providing technical support like integrated design and product specification software. Honestly, this direct touchpoint is what differentiates them from pure commodity movers.

• EWP sales force provides technical support services.
• Sales for plywood are handled across multiple locations.
• The goal is increasing sales attributable to general line and EWP products.

The third key channel component is the internal transfer sales from Wood Products to BMD segment. This is where the vertical integration really shows up in the numbers. The Wood Products segment manufactures key items like EWP and plywood, a significant portion of which is sold directly to the BMD segment for onward distribution. This internal channel helps manage supply chain stability.

Here's how the segments interacted in terms of sales for Q3 2025:

Segment	Sales (Q3 2025)	Segment Income/Loss (Q3 2025)
Building Materials Distribution (BMD)	$1,556.2 million	$54.3 million income
Wood Products (Including sales to BMD)	$396.4 million	$12.1 million loss

To put the internal transfer in context, back in 2023, EWP sales volume to BMD was 78% of Wood Products' EWP sales, and plywood sales volume to BMD was 42%. So, a substantial part of the Wood Products segment's revenue is generated through this internal channel before it even hits the external customer via the BMD centers.

Finance: draft 13-week cash view by Friday.

Boise Cascade Company (BCC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Boise Cascade Company (BCC) as of late 2025. The business model heavily relies on the health of the U.S. housing market, which is the ultimate driver for nearly all their product sales.

The primary demand indicator you need to watch is single-family housing starts. For the year-to-date through August 2025, single-family housing starts were down 5% compared to the same period in 2024. This subdued demand environment directly pressures the volumes Boise Cascade Company moves through its channels.

Boise Cascade Company organizes its customer-facing activities primarily through two segments: Building Materials Distribution (BMD) and Wood Products. BMD is the distribution channel that directly serves the dealer/lumberyard customer segment, while Wood Products manufactures key components, some of which are sold internally to BMD.

Here's a look at the latest reported segment sales figures, which give you a sense of the scale of the channels serving these customer groups. We'll use the third quarter of 2025 (3Q25) results for the most current snapshot.

Customer Group Proxy / Segment	Latest Reported Sales (3Q25)	Context/Relation to Customer Segment
Independent lumberyards and one-step building materials dealers (via BMD)	$1,556.2 million	Building Materials Distribution (BMD) sales for the three months ended September 30, 2025. This segment is the direct channel to these dealers.
Wood Products (Serving BMD and potentially others)	$396.4 million	Wood Products sales for the three months ended September 30, 2025, including sales to BMD. This represents the manufacturing output sold through the system.
Consolidated Net Sales	$1.7 billion	Total sales for the third quarter ended September 30, 2025.

The single-family residential home builders are the primary demand driver, as CEO Nate Jorgensen has noted. While the data doesn't give a direct revenue split from the builder versus the dealer, the BMD segment's sales volume is directly tied to the pace of residential construction activity.

For the independent lumberyards and one-step building materials dealers, their purchasing behavior within the BMD segment shows a shift in product mix. In 2Q25, the mix of products purchased through BMD was:

• General line product sales increased 6% in 3Q25 compared to the prior year.
• General Line products represented 46% of BMD sales in 2Q25.
• Commodity sales decreased 3% in 3Q25 compared to the prior year.
• Commodity products represented 34% of BMD sales in 2Q25.
• Engineered Wood Products (EWP) sales decreased 11% in 3Q25 compared to the prior year.
• EWP represented 20% of BMD sales in 2Q25.

The focus on EWP, which is value-added and less subject to commodity price swings, reflects a strategy to serve customers who value margin stability over pure commodity volume.

Regarding commercial and multi-family construction projects, while not explicitly broken out, these activities fall under the broader umbrella of construction demand that influences the sales of both segments. The company's strategy is built around its two-step distribution model, which is designed to deliver products reliably to its customer base, whether they are large production builders or smaller local contractors.

For retailers and home center chains, these customers are typically served through the BMD distribution network, purchasing general line products or commodities. The general line product sales growth of 6% in 3Q25 suggests some resilience in this channel relative to other product lines.

Finance: draft 13-week cash view by Friday.

Boise Cascade Company (BCC) - Canvas Business Model: Cost Structure

You're looking at the core costs that drive Boise Cascade Company's operations as of late 2025. Understanding these numbers is key to seeing where the money actually goes before we even get to profit.

The largest component of cost is generally tied to the products themselves. For the first quarter ended March 31, 2025, the consolidated Materials, labor, and other operating expenses (excluding depreciation) totaled \$1,276,183 thousand on consolidated sales of \$1,536,494 thousand. That works out to about 83.05% of consolidated sales for that period. This figure reflects the direct cost of goods sold across both the Wood Products and Building Materials Distribution (BMD) segments.

Capital investment remains a significant, planned outlay. Boise Cascade Company expects its capital expenditures for the full year 2025, excluding any potential acquisition spending, to total approximately \$230 million to \$250 million. This spending supports multi-year investments in Engineered Wood Products (EWP) production capabilities, like adding I-joist production in Thorsby, Alabama, and modernization projects, such as the one at the Hopedale, Louisiana, veneer and plywood mill.

Selling and distribution expenses across the distribution network show variability based on activity levels. For instance, in the third quarter ended September 30, 2025, these expenses increased by \$7.8 million compared to the same quarter in 2024. That followed an increase of \$12.1 million year-over-year for the second quarter ended June 30, 2025. For the first quarter of 2025, these expenses were reported at \$143,648 thousand.

Depreciation and amortization (D&A) reflects the cost recovery of the company's long-term assets, including manufacturing facilities. For the three months ended September 30, 2025, D&A expense increased by \$2.6 million versus the prior year's third quarter. In the second quarter of 2025, D&A increased by \$2.1 million year-over-year. The D&A charge for the first quarter of 2025 was \$37,121 thousand.

Here's a look at some of these key cost line items across recent reported periods:

Cost Category	Q1 2025 (in thousands)	Q2 2025 (in thousands)	Q3 2025 (in thousands)	Full Year 2024 (in thousands)
Materials, labor, and other operating expenses (excluding depreciation)	\$1,276,183	N/A	N/A	\$5,393,607
Depreciation and amortization	\$37,121	N/A (Y/Y increase of \$2.1M)	N/A (Y/Y increase of \$2.6M)	\$144,113
Selling and distribution expenses	\$143,648	N/A (Y/Y increase of \$12.1M)	N/A (Y/Y increase of \$7.8M)	\$594,927

You should also note the planned capital spending for the year:

• Projected 2025 Capital Expenditures (excluding acquisitions): \$230 million to \$250 million.
• Q1 2025 Capital Expenditures: \$53 million total (\$31M Wood Products, \$22M BMD).
• Projected 2026 Capital Expenditures (excluding acquisitions): \$150 million to \$170 million.

The company is definitely spending money to maintain and grow its asset base, even with near-term market softness.

Boise Cascade Company (BCC) - Canvas Business Model: Revenue Streams

You're looking at how Boise Cascade Company (BCC) actually brings in the money, which is always the most critical part of the Business Model Canvas. As of late 2025, the revenue streams are clearly split between distribution and manufacturing, with a side of shareholder return via dividends.

The primary engine for Boise Cascade Company's revenue is the Building Materials Distribution (BMD) segment. This is the company's two-step distribution model in action, providing reliable access to products for customers. For the third quarter ended September 30, 2025, BMD sales were reported at $1,556.2 million, representing a slight decrease of 1% year-over-year.

The second major stream comes from the Wood Products segment, where Boise Cascade Company is a large producer of engineered wood products (EWP) and plywood in North America. For Q3 2025, Wood Products sales were $396.4 million, which was a 13% decrease from the prior year period, reflecting lower sales prices and volumes in that division.

Here's a quick look at how the BMD sales broke down by product type for Q3 2025 compared to Q3 2024:

Product Category (within BMD Sales)	Q3 2025 Sales (in millions)	Year-over-Year Change
Total BMD Sales	$1,556.2	(1)%
Commodity Sales	Data Not Explicitly Separated	(3)% decrease
General Line Product Sales	Data Not Explicitly Separated	6% increase
EWP Sales (sourced via Wood Products)	Data Not Explicitly Separated	(11)% decrease

The sales of commodity products, such as plywood and lumber, are inherently tied to market volatility. This is a key risk factor for revenue stability. In the BMD segment for Q3 2025, commodity sales saw a year-over-year decrease of 3%.

Sales of higher-margin Engineered Wood Products (EWP) are another distinct revenue stream, though they are also subject to pricing pressures. Within the BMD segment for the third quarter of 2025, EWP sales were down 11% compared to the same quarter in 2024. The Wood Products segment itself reported a segment loss of $12.1 million for Q3 2025, a significant swing from the segment income of $53.9 million in Q3 2024.

Finally, Boise Cascade Company provides a direct return to equity holders through Quarterly Common Stock Dividends. The Board of Directors declared a quarterly dividend of $0.22 per share on October 30, 2025, payable on December 17, 2025. For the nine months ended September 30, 2025, the Company paid a total of $26.6 million in common stock dividends.

You should note the following key financial points regarding shareholder returns:

• Q3 2025 declared dividend: $0.22 per share.
• Total dividends paid for the nine months ended September 30, 2025: $26.6 million.
• The October 2025 declaration represented a 5% increase from the prior quarterly dividend of $0.01 per share (Source 7).

Finance: draft 13-week cash view by Friday.