Financial Data and Key Metrics Changes - The company reported net sales of $726 million, a decrease of 9% year-over-year, with adjusted EBITDA of $39 million, resulting in a 5.3% adjusted EBITDA margin [13][21][56] - Total gross profit was $128 million, with a gross margin of 17.6%, which is an increase of 90 basis points from the prior period [21] - Adjusted net income was $19 million, or $2.14 per share [13][49] Business Line Data and Key Metrics Changes - Specialty products accounted for approximately 70% of net sales and over 80% of gross profit, with net sales of $504 million, down 11% year-over-year [14][50] - Gross profit from specialty products was $104 million, down 2% year-on-year, with a specialty gross margin of 20.7%, up 190 basis points from last year [24][50] - Structural products had net sales of $222 million, down 3% compared to the prior year, with a gross profit of $24 million and a gross margin of 10.6%, down 110 basis points [52] Market Data and Key Metrics Changes - The broader housing market remains volatile, with March housing starts sliding to an adjusted annual rate of 1.32 million, down 15% from February [43] - Single-family housing starts dropped roughly 12%, while large multi-family starts fell 21% [43] - Existing home sales are at their lowest level in nearly 30 years, impacting repair and remodel activity [45] Company Strategy and Development Direction - The company aims to grow its core business in five key specialty product categories: engineered wood, siding, industrial products, millwork, and outdoor living [11][12] - There is a commitment to allocate capital for M&A and greenfield initiatives to expand geographic reach and support specialty product sales growth [12] - The company is focused on operational, business, and digital excellence to enhance customer experience and drive growth [39] Management's Comments on Operating Environment and Future Outlook - Management expressed a belief in the long-term prospects of the housing and building products sector, despite near-term uncertainties [20] - The company anticipates continued price deflation in specialty products but expects moderation as the year progresses [50][61] - Management noted that while large builders have advantages in the current market, the company is investing in strategies to capture more business from them [142] Other Important Information - The company experienced deflation in specialty product sales due to extreme weather conditions in January, impacting volumes [15] - Average lumber prices were about $403 per thousand board feet, a 2% decrease year-over-year, while panel prices were about $615 per thousand square feet, a 23% increase [26] - The company has a strong balance sheet with cash on hand of $481 million and available liquidity of $828 million [27] Q&A Session Summary Question: Can you provide more color on the cadence of specialty volume growth? - Management indicated that volumes improved in February and March, with modest growth in specialty volumes by the end of the quarter [59] Question: What is the outlook for specialty products pricing in 2024? - Management expects continued deflationary pressures but anticipates moderation as the year progresses [61] Question: Can you provide details on the greenfield initiative? - The company is evaluating several markets for potential greenfield operations, particularly in regions with favorable housing starts and demographic trends [63][100] Question: How is the company managing its capital allocation? - The company aims to maintain a strong balance sheet while pursuing disciplined M&A strategies and opportunistic share repurchases [71][147] Question: What changes have been observed in customer behavior recently? - Management noted steady-state business from customers, aligning with seasonal buying patterns [108]

BLUELINX 15 (1) Source: Historical data is U.S. Census Bunau; Forecad. from John Burns Roal Estate Consubing, LLC sobject Imitations and disclaimers = not for redistribution 9.0% Mortgage rates expected to remain 8.0% above 20-year average 7.0% 6.0% 20-year average 5.0% 4.0% 3.0% 2.0% 1.0% -% ន្តិ៍​និង​នឹង​នឹង​នឹ​ន o see and the states 2) Susce: John Curite for Housing Studis at Horvard University. The Ladding Indicator of Remodeling Active (DRA) provider a sterterm oxtbox of national home improvement, an ( ...

Financial Performance - Net sales for Q1 2024 were $726 million, with a gross profit of $128 million and a gross margin of 17.6%[2]. - Adjusted EBITDA for the quarter was $39 million, representing 5.3% of net sales, benefiting from approximately $7 million related to import duties from prior periods[2][11]. - Net income was $17 million, or $2.00 diluted earnings per share, compared to $18 million, or $1.94 per diluted share in the prior year[5]. - For the first quarter of 2024, net sales were $726 million, a decrease of $72 million, or 9.0% compared to the first quarter of 2023[39]. - Gross profit for the first quarter was $128 million, down $6 million, or 4.4% year-over-year, with a gross margin of 17.6%, an increase of 90 basis points from the same period last year[39]. - Adjusted EBITDA was $39 million, or 5.3% of net sales, compared to $47 million, or 5.9% of net sales in the first quarter of 2023[41]. - Basic earnings per share (EPS) for the first quarter was $2.02, compared to $1.96 in the same period last year[34]. - Diluted EPS for the first quarter was $2.00, compared to $1.94 in the same period last year[34]. - Adjusted net income was $19 million, or $2.14 per diluted share, down from $23 million, or $2.53 per diluted share in the prior year[5]. - Net income for the three months ended March 30, 2024, was $17,492, compared to $17,812 for the same period last year, a decrease of 1.8%[58]. - Adjusted EBITDA margin decreased to 5.3% from 5.9% year-over-year, reflecting a decline in profitability[63]. - Total net sales for the three months ended March 30, 2024, were $726,244, down from $797,904, a decrease of 8.9%[66]. Specialty Products - Net sales of specialty products decreased by $64 million, or 11%, to $504 million, while gross margin improved to 20.7% from 18.8% in the prior year[12]. - The decline in specialty product sales was attributed to deflationary impacts across several categories[12]. - Specialty products gross margin improved to 20.7% from 18.8% year-over-year, indicating better cost management in this category[66]. - Specialty product gross margin for the first four weeks of the second quarter of 2024 was in the range of 18% to 19%[43]. Cash Flow and Liquidity - Net cash used in operating activities was $31 million, a significant decrease from $89 million of net cash provided in the prior year[14]. - Available liquidity stood at $828 million, including $481 million in cash and cash equivalents[2][15]. - The company reported strong liquidity, allowing for flexibility in pursuing strategic initiatives and returning capital to shareholders[38]. - Free cash flow for the three months ended March 30, 2024, was $(36,582), compared to $79,957 for the same period last year, showing a significant decline[72]. - Cash and cash equivalents at the end of the period were $481,309, down from $521,743, a decrease of 7.7%[58]. Debt and Liabilities - The company reported a net debt of ($133) million, resulting in a net leverage ratio of (0.8x) on trailing twelve-month Adjusted EBITDA of $175 million[15]. - Total liabilities increased to $938,424 from $903,315, an increase of 3.9%[57]. - Net debt, excluding cash and cash equivalents, was $110,758, down from $194,530 year-over-year, indicating improved leverage[64]. Operational Expenses and Investments - Selling, general and administrative (SG&A) expenses were $91 million in the first quarter, consistent with the prior year period[40]. - The company invested $5 million in capital improvements during the first quarter, down from $9 million in the same period last year[42]. - The company has $91.4 million remaining under its share repurchase authorization[42]. Accounts Receivable - Accounts receivable increased to $288,244 from $228,410, reflecting a rise of 26.2%[57].

BlueLinx Holdings Inc. (NYSE:BXC) Q4 2023 Earnings Conference Call February 21, 2024 10:00 AM ET Company Participants Tom Morabito - Investor Relations Officer Shyam Reddy - President and CEO Andy Wamser - CFO Conference Call Participants Greg Palm - Craig-Hallum Capital Group Jeffrey Stevenson - Loop Capital Reuben Garner - Benchmark Company Kurt Yinger - D.A. Davidson Operator Ladies and gentlemen, thank you for standing by, and welcome to the BlueLinx Holdings Fourth Quarter and Full Year 2023 Earnings C ...

Furthermore, our success is highly dependent on the continued services of our management team. The loss of services of one or more key members of our senior management team could have a material adverse effect on us. We cannot predict or, in some cases, control the costs to defend or resolve such claims. We cannot assure our ability to maintain suitable and adequate insurance on acceptable terms or that such insurance will provide adequate protection against potential liabilities, and the cost of any produc ...

ATLANTA--(BUSINESS WIRE)--BlueLinx Holdings Inc. (NYSE: BXC), a leading U.S. wholesale distributor of building products, will issue fourth quarter and full year 2023 financial results after the market closes on Tuesday, February 20, 2024. A conference call to discuss the Company’s results will be hosted by Shyam Reddy, President and Chief Executive Officer, and Andy Wamser, Chief Financial Officer, on Wednesday, February 21, 2024, at 10:00 AM ET. A webcast of the conference call and accompanying presentati ...

ATLANTA, Jan. 16, 2024 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE:BXC), a leading U.S. wholesale distributor of building products, and Huber Engineered Woods LLC, a subsidiary of J.M. Huber Corporation, a leading privately-held specialty building products manufacturer, are pleased to announce an expansion of their distribution partnership. The expansion will include Huber's assortment of AdvanTech® subflooring and ZIP System™ building enclosure product lines in BlueLinx's Denville, NJ, and Pensacola, ...

11 Operating Working Capital Management(1) $ in millions 40% 10% Amortization CAPITAL ALLOCATION FRAMEWORK ▪ Long-term net leverage could increase to at or around 3.0x when considering growth ▪ Acquisitions aligned to strategy 13 Q&A Total U.S. Single Family Housing Starts (SFHS) Months of inventory(2) 14 ~7 months of home inventory 12 10 8 20-year average 2 0 2000 2001 ETOZ 2007 2003 2007 2009 01.05 ttoz 5107 2014 STOF LT01 rzoi zz.0z EZOI 2004 2006 2008 9107 BT 07 2019 0201 3005 (1) Source: Historical dat ...

BlueLinx Holdings Inc (NYSE:BXC) Q3 2023 Earnings Conference Call November 1, 2023 10:00 AM ET Company Participants Tom Morabito - Investor Relations Shyam Reddy - President, CEO Andy Wamser - SVP & CFO Conference Call Participants Greg Palm - Craig-Hallum Capital Group Reuben Garner - Benchmark Company Kurt Yinger - D.A. Davidson Jeffrey Stevenson - Loop Capital Markets Operator Call has been recorded. We will begin with the opening remarks and introductions. At this time I would like to turn the conferenc ...

Supply Constraints 19 imposed by federal, state, local, and other regulations; compliance costs associated with federal, state, and local environmental protection laws; costs associated with federal law and regulations regarding importation of products; global pandemics, such as COVID-19, and other widespread public health crises and their potential effects on our business; fluctuations in our operating results; our level of indebtedness and our ability to incur additional debt to fund future needs; the cov ...