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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) announced a private offering of $300 million of 6.00% Senior Secured Notes due 2029, priced at 98.625% of principal. The proceeds will be used to repay borrowings from the ABL credit facility. The notes will be guaranteed by domestic subsidiaries and secured by a first-priority interest in most assets. Closing is expected on October 25, 2021, subject to customary conditions. The notes won't be registered under the Securities Act, limiting their sale options.
BlueLinx Holdings (NYSE: BXC) announced its intention to offer Senior Secured Notes due 2029, expected to generate approximately $300 million. The offering will be secured by a first-priority lien on most assets and will be guaranteed by domestic subsidiaries. The funds from the offering will be used to repay existing borrowings under the company's ABL credit facility. This financing approach indicates BlueLinx’s strategy to optimize its capital structure amidst market conditions.
BlueLinx Holdings (NYSE: BXC) has announced a new share repurchase program allowing for the buyback of up to $25 million of its common stock. This decision reflects the company's commitment to maximizing shareholder returns amid strong business performance and a favorable outlook for residential construction. The timing of repurchases will be based on market conditions and capital needs. CEO Dwight Gibson expressed confidence in the company's strategy, which includes organic growth, acquisitions, and capital return initiatives.
BlueLinx Holdings (NYSE: BXC) announced the termination of its "at-the-market" equity offering program with Jefferies LLC, effective September 2, 2021. The decision was made to enhance liquidity and reduce dilution uncertainty for shareholders. No shares were sold under this program, allowing the company to conclude it without further obligations. BlueLinx, located in Georgia, distributes building products across 40 states to thousands of clients, reinforcing its position in the market.
BlueLinx Holdings reported strong second quarter results with net sales of $1.3 billion, an 87% increase compared to the previous year. Net income surged to $113 million, up from $7 million, supported by higher specialty product sales amid rising demand. Adjusted EBITDA reached $166 million, a significant jump from $31 million. The company improved its balance sheet with a net leverage ratio of 1.5x, the lowest in its history. BlueLinx anticipates continued demand for specialty products despite volatility in wood-based commodity prices, indicating a stable outlook for the remainder of the year.
BlueLinx Holdings (NYSE: BXC) has amended its $600 million Senior Secured Revolving Credit Agreement, extending the maturity from October 10, 2022, to August 2, 2026. This amendment reduces borrowing costs and enhances financial flexibility, positioning the company for organic and inorganic growth opportunities. CEO Dwight Gibson stated that the improved liquidity will support future growth phases. CFO Kelly Janzen highlighted the amendment as a positive step in the company's ongoing balance sheet transformation, reflecting lender confidence in BlueLinx's long-term growth potential.
BlueLinx Holdings (NYSE: BXC) will announce its second quarter 2021 financial results after market close on August 3, 2021. A conference call to discuss these results, featuring CEO Dwight Gibson and CFO Kelly Janzen, is scheduled for August 4, 2021, at 10:00 AM ET. Investors can access a webcast of the call and related materials on the BlueLinx Investor Relations website. The announcement comes as BlueLinx continues to serve the construction industry, distributing a comprehensive range of building products across 40 states.
BlueLinx Holdings reported stellar Q1 2021 results, achieving net sales of $1 billion, a 55% increase year-over-year. The net income surged to $62 million from a loss of $0.8 million in the same quarter last year. Adjusted EBITDA rose to $107 million, marking an $87 million improvement. The company reduced its total outstanding bank debt by over $100 million and fully repaid its term loan. Increased gross margins to 17.6% reflect benefits from ongoing supply-demand imbalances, which have led to price escalations in their product offerings.
BlueLinx Holdings (NYSE: BXC) announced the retirement of President and CEO Mitchell B. Lewis, effective June 7, 2021. Dwight A.K. Gibson will succeed him and also join the Board of Directors. The Board expressed gratitude for Lewis’s leadership and noted Gibson's extensive experience in managing complex supply chains and driving growth. Gibson emphasized his commitment to enhancing stakeholder value during this transformative period. Lewis will stay on as an advisor until the end of 2021, assisting in the transition.
BlueLinx Holdings (NYSE: BXC), a prominent U.S. wholesale distributor of building products, will release its first quarter 2021 financial results on May 4, 2021, after market close. A conference call to discuss these results will be hosted by CEO Mitch Lewis and CFO Kelly Janzen on May 5, 2021, at 10:00 AM ET. Interested participants can access the live call by dialing 877.873.5864 (Passcode: 7956909). A replay will be available until May 11, 2021, at 404.537.3406. The webcast and presentation materials will be available on the official BlueLinx website.
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