Plywood Prices Lift Boise Cascade Profit

Construction firms buying plywood should expect higher material costs even as U.S. housing starts decline.

Updated on Nov. 3, 2026 in Construction

Plywood Prices Lift Boise Cascade Profit

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Boise Cascade reported third-quarter 2026 net income of $36.4 million, up 67% from a year earlier, on sales of $1.8 billion. Higher plywood prices lifted its Wood Products segment, even as total U.S. housing starts fell 4% from the third quarter of 2025, a signal for building-materials distributors and lumber buyers.

Why it matters

Plywood average net selling prices rose 31% year over year, so margin gains came from pricing rather than a stronger housing market. High fuel prices and an inflation-driven rise in benchmark interest rates kept affordability tight, which is the pressure operators in construction supply chains are managing.

Boise Cascade's Building Materials Distribution sales rose 7% to $1,669.5 million and Wood Products sales rose 16% to $461.2 million over the same period. The company ended the quarter with $385.1 million in cash against $452.5 million of outstanding debt.

The players

Boise Cascade

A building-materials manufacturer and distributor that operates wood products and building materials distribution segments across the United States.

The details

Wood Products segment income rose because plywood prices climbed while LVL and I-joist volumes grew, with LVL sales volume up 18% and I-joist volume up 10%. Plywood volume itself fell 7%, so the segment's gain came from price rather than units sold. For construction operators, that means material costs and margins moved with pricing in the plywood category even as shipment volume softened.

Third quarter 2026: Boise Cascade reported net income of $36.4 million.
October 2026: The company bought 65,006 shares for about $5 million.
December 16, 2026: A quarterly dividend of $0.23 per share is payable.

Market Landscape

Total U.S. housing starts fell 4% and single-family starts fell 2% from the third quarter of 2025, measured against that year's Q3 baseline. Boise Cascade's gains came from plywood pricing up 31%, a pattern that differs from a volume-led housing recovery.

Operators in construction and building-materials purchasing should factor in that plywood pricing is currently elevated, which raises input costs for framing and sheathing. Lumber and panel buyers should review supplier pricing terms and budgets for the coming months.

The takeaway

The quarter shows that margin gains in building materials can come from pricing even when housing starts contract. Construction firms should monitor plywood price trends and their own material cost lines in the next quarter's filings.