Bluelinx Holdings Inc
NYSE:BXC
Bluelinx Holdings Inc
BlueLinx Holdings, Inc. engages in the distribution of building and industrial products. The company is headquartered in Marietta, Georgia and currently employs 2,055 full-time employees. The company went IPO on 2004-12-14. The firm provides both branded and private-label stock keeping units (SKUs) across product categories such as lumber, panels, engineered wood, siding, millwork, metal building products, and other construction materials. The firm distributes its products in two principal categories: specialty products and structural products. Its specialty products include engineered wood products, molding, siding and trim, cedar, metal products (excluding rebar and remesh) and insulation. Structural products include plywood, oriented strand board, rebar and remesh, lumber, spruce and other wood products primarily used for structural support in construction projects. The company also offers a range of value-added services and solutions to its customers and suppliers, including inventory stocking; intermodal distribution services; milling and fabrication services, and backhaul services.
BlueLinx Holdings, Inc. engages in the distribution of building and industrial products. The company is headquartered in Marietta, Georgia and currently employs 2,055 full-time employees. The company went IPO on 2004-12-14. The firm provides both branded and private-label stock keeping units (SKUs) across product categories such as lumber, panels, engineered wood, siding, millwork, metal building products, and other construction materials. The firm distributes its products in two principal categories: specialty products and structural products. Its specialty products include engineered wood products, molding, siding and trim, cedar, metal products (excluding rebar and remesh) and insulation. Structural products include plywood, oriented strand board, rebar and remesh, lumber, spruce and other wood products primarily used for structural support in construction projects. The company also offers a range of value-added services and solutions to its customers and suppliers, including inventory stocking; intermodal distribution services; milling and fabrication services, and backhaul services.
Revenue: Net sales were $749 million, up slightly year-over-year despite challenging market conditions.
Margins: Gross margin declined to 14.4% from 16.8% last year, with specialty gross margin at 16.6% (17% excluding duty-related adjustments).
Disdero Acquisition: BlueLinx acquired Disdero Lumber for $96 million, aiming to boost specialty product growth and expand in the Western U.S.
Specialty Product Growth: Engineered wood products and outdoor living volumes grew low double digits and low single digits respectively, offsetting flat or declining prices.
Liquidity & Buybacks: Company ended the quarter with $429 million in cash and $777 million in available liquidity, repurchasing $2.7 million in shares during Q3.
Market Conditions: Management highlighted soft housing markets, high mortgage rates, and consumer sentiment as headwinds, but remains optimistic about long-term demand.
SG&A: Operating expenses decreased $3 million from last year, but are expected to trend slightly higher as a percentage of sales going forward due to investments.
