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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 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.
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.
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