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BlueLinx Holdings Inc. (NYSE: BXC) is a premier wholesale distributor of residential and commercial building products in the United States. The company is headquartered in Marietta, Georgia, and operates through a broad network of distribution centers, providing comprehensive coverage across all 50 states. BlueLinx services approximately 15,000 customers, including national home centers, pro dealers, cooperatives, specialty distributors, regional and local dealers, and industrial manufacturers.
BlueLinx's business is divided into two main product categories: Structural Products, which consist of lumber, plywood, oriented strand board, rebar, and remesh, and Specialty Products, encompassing engineered wood, siding, millwork, outdoor living, specialty lumber and panels, as well as industrial products. The company is known for offering both branded and private-label SKUs, ensuring a diverse range of high-quality options for various construction needs.
Recently, BlueLinx has been actively expanding its partnerships to drive further growth. Notably, the company has strengthened its collaboration with LP Building Solutions and Huber Engineered Woods, enhancing its product offerings and distribution footprint. Mike Wilson, Senior Vice President of Product Management at BlueLinx, expressed enthusiasm for these developments, highlighting the alignment of goals with partners to offer superior specialty products catering to single-family, multi-family, and light commercial building segments.
Financially, BlueLinx continues to demonstrate strong performance. The company maintains a solid market position backed by robust financial management and operational efficiency. It actively engages in providing value-added services and solutions to both customers and suppliers, ensuring reliable distribution and innovative ideas that help their clients achieve their goals.
For more detailed information about BlueLinx Holdings Inc., including the latest news updates and financial performance, visit their official website at www.BlueLinxCo.com.
BlueLinx Holdings (NYSE: BXC) has expanded its partnership with Allura USA, enhancing distribution for Allura’s Spectrum™ Prefinished Siding and other products across several Midwest markets. This expansion includes new stocking positions at over 30 BlueLinx locations in cities like St. Louis and Kansas City, aimed at meeting the rising demand for innovative siding solutions that minimize labor costs. Both companies express optimism about future growth, with Allura’s offerings featuring Sherwin-Williams® colors providing aesthetic and durable options for builders. This strategic move aims to solidify BlueLinx's standing in the competitive fiber cement siding market.
BlueLinx Holdings (NYSE: BXC) will announce its first-quarter 2023 financial results on May 2, 2023, after market close. The company will host a conference call led by President and CEO Shyam Reddy, along with CFO Kelly Janzen, on May 3, 2023, at 10:00 AM ET to discuss the results. Interested parties can access a webcast of the call and related materials via the Investor Relations section of BlueLinx's website. A replay will be available shortly after the call concludes and through May 17, 2023.
BlueLinx, headquartered in Marietta, Georgia, is a prominent distributor of building products across the U.S., catering to around 15,000 customers in various segments including national home centers and industrial manufacturers. The company provides an extensive range of products and value-added services, ensuring a comprehensive distribution network.
BlueLinx Holdings has appointed Shyam K. Reddy as President and CEO, effective immediately. Reddy, previously Senior Vice President and Chief Legal Officer, has nearly eight years of experience with the company, bringing extensive knowledge in corporate development, planning, and risk management. He replaces Dwight A.K. Gibson, who has stepped down from his role. The Board expresses confidence in Reddy's leadership amidst a challenging economic landscape. In the first quarter of 2023, BlueLinx reported a decline in sales volumes ranging from 17% to 18% compared to the previous year, while specialty product gross margins were between 18%-19%. Full financial results are expected in early May.
BlueLinx Holdings (NYSE: BXC) and Louisiana-Pacific Corporation (NYSE: LPX) have announced an expanded distribution partnership, set to begin in Q1 2023. This partnership includes Louisiana-Pacific's Siding Solutions brands, focusing on prefinished solutions such as LP® SmartSide® products in key markets including Atlanta, Omaha, and Pensacola. Both companies express optimism about the partnership, highlighting the growing demand for prefinished siding as a catalyst for business growth. The expanded partnership is expected to enhance market access for customers and align with BlueLinx's growth strategy of providing innovative building solutions.
BlueLinx Holdings reported Q4 2022 financial results with net sales of $848 million, down $125 million (13%) year-over-year. Gross profit fell 22% to $151 million, leading to a gross margin of 17.8%. Net income was $32 million, or $3.50 per diluted share, a significant drop from $74 million in Q4 2021. For the full year, net sales reached $4.5 billion, up 4%, driven by a 14% increase in specialty product sales. However, the company noted a decline in structural product sales and projected ongoing challenges in 2023. Cash flows were strong, with operating cash of $400 million for the year.
BlueLinx Holdings Inc. (NYSE: BXC) is set to announce its fourth quarter and full year 2022 financial results on February 21, 2023, after market close. A conference call will be held on February 22, 2023, at 10:00 AM ET, featuring President and CEO Dwight Gibson and CFO Kelly Janzen to discuss the results. Investors can access the call via a webcast on the company’s website, along with presentation materials. A teleconference replay will be available until March 8, 2023. Based in Marietta, Georgia, BlueLinx is a major distributor of building products across the U.S.
BlueLinx Holdings (NYSE: BXC) announced the appointment of Dionne Vernon as VP, Talent Management, and Gui Nebel as VP, Finance and Treasury. Both executives join BlueLinx to enhance its financial management and talent development strategies. Vernon, previously from Comcast, is responsible for employee programs, while Nebel, coming from Veritiv Corporation, leads the FP&A and Treasury functions. These appointments are expected to strengthen the leadership team and support the company's growth initiatives.
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