BlueLinx (US:BXC)2021-03-04 16:06Financial Performance Highlights - Full-year 2020 net sales increased by 17% to $3097 million compared to $2637 million in 2019[14] - Fourth quarter 2020 net sales increased by 41% to $865 million compared to $613 million in the fourth quarter of 2019[14] - Full-year 2020 adjusted EBITDA increased by 139% to $170 million compared to $71 million in 2019[14] - Fourth quarter 2020 adjusted EBITDA increased by 255% to $39 million compared to $11 million in the fourth quarter of 2019[14] - The company reduced bank debt by $142 million or 30% in 2020[46] Margin and Efficiency Improvements - Gross margin increased by 90 basis points to 144% in the fourth quarter of 2020[4,15] - SG&A as a percentage of sales improved by 160 basis points to 103% in the fourth quarter of 2020[4,15] - Return on working capital for full-year 2020 was 38%, up from 16% in the prior year[40] Market and Product Trends - Specialty product sales for full-year 2020 were $19 billion with a gross margin of 171%[17] - Structural product sales for full-year 2020 were $12 billion with a gross margin of 128%[17] - Single-family housing starts (SFHS) in 2020 were 990 thousand units[8]