Building materials distributor and manufacturer Boise Cascade reported its 2023 fourth quarter and full-year financial results on Feb. 20, showing a considerable sequential improvement in sales for its distribution segment that comprises the vast majority of the business.

The Boise, ID-based company posted total 4Q sales of $1.64 billion, up 1% year-over-year, a major improvement over 3Q’s 15% decline. Meanwhile, the company’s 4Q net profit of $98 million fell 17% and adjusted EBITDA of $161 million fell 15%.

By business segment during 4Q:

• Building Materials Distribution sales of $1.49 billion increased 3% year-over-year, a stark improvement from 3Q’s 15% decline. Segment profit of $70 million fell 24%, and EBITDA of 81 million fell 19%. The sales increase was driven by a 13% increase in volume, partially offset by price deflation of 10%.
• Wood Products sales of $450 million increased 6% year-over-year. Segment profit of $64 million fell 14%, while EBITDA of $93 million fell 7%.

For the full year, Boise Cascade posted total 2023 sales of $6.84 billion, down 18% vs. 2022. Net profit of $484 million fell 44%, while adjusted EBITDA of $757 million likewise fell 40%.

Also on Feb. 20, Boise Cascade announced two executive leadership transitions. Mike Brown, Executive Vice President of Wood Products, will retire effective May 3 after 25 years with the company, to be succeeded by 33-year company veteran Troy Little. Erin Nuxoll, Senior Vice President of Human Resources with 30 years of service to Boise Cascade, will also retire effective May 3, to be succeeded by Angella Broesch, who has been with the company since 2013.