BlueLinx Holdings Inc. - BXC STOCK NEWS

BlueLinx Holdings reported a strong third quarter 2022 with net sales of $1.1 billion, a 9% increase year-over-year. Specialty product sales rose 13% to $724 million, making up 68% of total sales. Gross profit increased 24% to $189 million, with a gross margin of 17.9%. Net income reached $60 million, equating to $6.38 EPS, up 35% from the previous year. Adjusted EBITDA also grew 27% to $100 million. The company completed a $60 million share repurchase and acquired Vandermeer Forest Products for $67 million, enhancing its market position.

BlueLinx Holdings (NYSE: BXC) will announce its third quarter 2022 financial results on November 1, 2022, after market close. A conference call led by CEO Dwight Gibson and CFO Kelly Janzen is scheduled for November 2, 2022, at 10:00 AM ET to discuss the results. Investors can access a webcast and presentation materials in the Investor Relations section of BlueLinx's website. For participation in the call, domestic listeners can dial 1-877-407-4018 with passcode 13733451. Replay will be available until November 16, 2022, at 1-844-512-2921.

Lineage Logistics has appointed Lynn Wentworth to its Board of Directors, bringing over 30 years of experience in finance, technology, and logistics. Wentworth currently serves on the boards of Graphic Packaging (GPK) and Benchmark Electronics (BHE). Additionally, Natalie Matsler returns as Chief Legal Officer, tasked with overseeing global legal and compliance functions. Both appointments are positioned to enhance Lineage's strategic initiatives as it seeks to expand its global operations and optimize its supply chain.

BlueLinx Holdings Inc. (NYSE: BXC) has announced the acquisition of Vandermeer Forest Products for $67 million, which includes $3.6 million for real estate. Vandermeer, a distributor in the Pacific Northwest, reported trailing twelve-month sales exceeding $150 million. The purchase price reflects a multiple of approximately 3.3x adjusted EBITDA. Funded by cash reserves, the acquisition is projected to be immediately accretive to earnings. BlueLinx maintains a strong financial position with ample liquidity, supporting its strategic growth and market expansion goals.

BlueLinx Holdings, a major U.S. wholesale distributor of building products, will participate in the 21st Annual D.A. Davidson Diversified Industrials & Services Conference on September 22, 2022, at 2:00 PM CT. CEO Dwight Gibson and CFO Kelly Janzen will present at the event. A live webcast and presentation materials will be available on the company's Investor Relations website. BlueLinx distributes a diverse range of building products across 45 states, serving approximately 15,000 customers including national home centers and local dealers.

BlueLinx Holdings Inc. (NYSE: BXC) announced appointments of Keith A. Haas and Marietta Edmunds Zakas as new directors, expanding the Board to eight members, including six independents. Haas brings over 25 years of experience in the building products industry, notably as Group Executive at CRH plc, while Zakas has significant expertise in finance, serving as CFO of Mueller Water Products. These additions aim to strengthen BlueLinx’s leadership and support its growth strategy in becoming a leading North American distributor of building products.

BlueLinx Holdings reported its Q2 2022 results, achieving diluted EPS of $7.48 and an adjusted EBITDA of $112 million. Despite a 5% decline in net sales to $1.2 billion, specialties saw a 17% sales growth, totaling $788 million. However, gross profit fell 20% to $201 million due to a 29% drop in structural product sales, largely from declining wood prices. Operating cash generated was $101 million, while liquidity reached a record $451 million. Looking ahead, challenges from rising mortgage rates and inflation could impact housing market conditions.

BlueLinx Holdings Inc. (NYSE: BXC) announced that its CEO Dwight Gibson and CPO Kevin Henry have been recognized in Savoy Magazine's 2022 list of the Most Influential Black Executives in Corporate America. This acknowledgment highlights their impact within corporate America and their contributions to community development. Gibson, who recently celebrated his first year as CEO, led the company to strong financial performance. Henry, joining BlueLinx in 2022, has focused on creating an inclusive company culture.

BlueLinx Holdings Inc. (NYSE: BXC) will announce its second quarter 2022 financial results after market close on August 2, 2022. A conference call discussing these results is scheduled for August 3, 2022, at 10:00 AM ET, led by CEO Dwight Gibson and CFO Kelly Janzen. Investors can access the webcast and presentation materials in the Investor Relations section of BlueLinx's website. A replay of the call will be available until August 17, 2022. BlueLinx is a wholesale distributor of building products, servicing 40 states and over 15,000 customers.