Welcome to our dedicated page for BlueLinx Holdings news (Ticker: BXC), a resource for investors and traders seeking the latest updates and insights on BlueLinx Holdings stock.
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.
On June 23, 2022, BlueLinx Holdings announced new appointments in leadership, naming Bryan Hall and Joan Burke as Regional Vice Presidents for the South and North regions, respectively. This strategic move aims to enhance growth and productivity within the company. Bryan, with over 20 years in warehousing and distribution, joins from S.P. Richards, while Joan, starting June 27, brings 30 years of experience, previously leading the Americas Components business at Essentra. Their leadership will cover over 40% of BlueLinx's business.
BlueLinx Holdings (NYSE: BXC) celebrated its 2022 investor day by ringing the opening bell at the New York Stock Exchange on June 1, 2022. CEO Dwight Gibson expressed excitement about sharing the company’s vision for becoming a leading distributor of building products. The investor presentation titled "A Whole New Blue" is set for June 2, 2022, at 10:00 AM ET, featuring strategic priorities and a Q&A session with the executive team. A live videocast will be available for those unable to attend.
BlueLinx Holdings reported strong financial results for Q1 2022, with net sales increasing by 27% to $1.3 billion. The gross margin improved by 470 basis points to 22.3%, and diluted earnings per share surged 110% to $13.19. Adjusted EBITDA reached $202 million, an increase of 90%. The company also increased its share repurchase authorization to $100 million, highlighting confidence in its long-term growth strategy. The growth was primarily driven by a 36% increase in sales of specialty products.
BlueLinx Holdings (NYSE: BXC) announced a significant increase in its share repurchase authorization to $100 million, up from $75 million. The company initiated an Accelerated Share Repurchase Agreement with Jefferies LLC to repurchase $60 million in common stock, demonstrating its confidence in long-term strategy and shareholder value. The ASR will initially purchase 553,584 shares based on the closing price from May 2, 2022. Through Q1 2022, BlueLinx had repurchased 81,331 shares for $6.4 million. The amended authorization expires at the end of fiscal 2023.
BlueLinx Holdings (NYSE: BXC) will host an in-person investor day on June 2, 2022, at the New York Stock Exchange starting at 10:00 AM ET. The event will feature presentations by CEO Dwight Gibson and CFO Kelly Janzen, focusing on the company's strategic priorities for growth. A live Q&A session will follow. Investors can access a live webcast and additional materials in the Investor Relations section of BlueLinx's website. A replay of the webcast will also be available.
BlueLinx Holdings (NYSE: BXC) will release its first quarter 2022 financial results after market close on May 3, 2022. A conference call will follow on May 4, 2022, at 10:00 AM ET, led by CEO Dwight Gibson and CFO Kelly Janzen. Investors can access the webcast and presentation materials via the BlueLinx Website. A replay will be available after the event.
BlueLinx Holdings (NYSE: BXC) has appointed Joshua Teteak as its new Chief Supply Chain Officer, effective April 18, 2022. With over 21 years of experience in supply chain management, particularly at Eaton Corporation, Teteak will focus on enhancing supply chain effectiveness and operational efficiencies. His expertise is expected to transform BlueLinx's distribution network, leveraging advanced technology to improve logistics and service delivery. This strategic move signals BlueLinx's commitment to improving its customer service and supply chain operations.
BlueLinx Holdings reported strong financial results for Q4 and full year 2021, with net sales of $973 million (up 12%) in Q4 and $4.3 billion for the year (up 38%). Gross margins improved significantly to 19.9% in Q4 (up 550 bps) and 18.2% for the year (up 280 bps). Diluted EPS surged to $7.30 (up 258%) in Q4 and $29.99 (up 251%) for the year. Strong demand for specialty products, which rose 29% year-over-year, contributed to these results. The company also reduced its net debt by 19%, enhancing its financial flexibility with a net leverage ratio now at 1.1x.
BlueLinx Holdings (NYSE:BXC) has appointed Kevin Alan Henry as Chief People Officer, effective March 1, 2022. With over 30 years of experience in human capital across various industries, Kevin is expected to enhance BlueLinx’s human resources functions. His expertise includes developing employee engagement strategies aimed at delivering sustainable business growth. CEO Dwight Gibson highlighted the strategic focus Kevin will bring, aiming to improve talent acquisition and retention while creating a thriving work environment. BlueLinx is a prominent wholesaler of building products in the U.S.
BlueLinx Holdings Inc. (NYSE: BXC) will release its fourth quarter and full year 2021 financial results after market close on February 22, 2022. A conference call hosted by CEO Dwight Gibson and CFO Kelly Janzen will take place on February 23, 2022, at 10:00 AM ET.
Investors can access the call via a webcast on the investor relations section of the BlueLinx website. Replay details will be available until March 9, 2022.
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