Bluelinx Hldgs Inc Stock Price, News & Analysis

BlueLinx Holdings (NYSE: BXC), a U.S. building products distributor, has announced a $3 million year-end bonus for eligible employees. This includes cash and equity components aimed at recognizing their efforts amid a challenging market. CEO Dwight Gibson highlighted the employees' resilience despite supply constraints and price volatility in lumber. Looking ahead, the company is positioned to capitalize on robust housing market trends while fostering a performance-driven culture.

BlueLinx Holdings reported its third quarter results for 2021, with net sales reaching $971 million, an 11% increase year-over-year. Net income decreased by 14% to $47 million, reflecting a decline in commodity wood prices. Adjusted EBITDA fell by 2% to $79 million. Specialty products sales surged by 29% to $641 million, while structural products sales dropped by 12% to $330 million. Cash flow from operations rose significantly to $104 million, up 70%. The company successfully reduced its net leverage ratio to 1.3x.

BlueLinx Holdings (NYSE: BXC), a major U.S. wholesale distributor of building products, has successfully completed a $300 million offering of 6.00% Senior Secured Notes due 2029. These notes, priced at 98.625% of their principal amount, are set to mature on November 15, 2029. The financing enhances BlueLinx's borrowing capacity while maintaining a net-leverage neutral position, as proceeds will be used to reduce existing debt. This strategic move aims to support future growth, bolstering the company's capital structure.

BlueLinx Holdings (NYSE: BXC) will release its third quarter 2021 financial results after the market closes on November 2, 2021. A conference call to discuss these results will be hosted by Dwight Gibson, President and CEO, and Kelly Janzen, CFO, on November 3, 2021, at 10:00 AM ET. Investors can access the live call by dialing 1-877-407-4018 with the passcode 13723645. A webcast will also be available on the company's website, along with replay options until November 17, 2021.

MoistureShield, a division of Oldcastle APG, has significantly expanded its distribution through BlueLinx with seven new branch locations from North Carolina to Maine. This expansion includes the full line of MoistureShield composite decking products, such as the new Meridian capped wood-plastic composite decking. The new offerings feature advanced technologies like DiamondDefense Coating and CoolDeck Technology, designed to withstand harsh climates. MoistureShield products come with a 50-year transferrable structural warranty, assuring durability and performance.

BlueLinx Holdings (NYSE:BXC) announced the appointment of Ryan Taylor as the new Vice President of Investor Relations and Treasury, effective October 11, 2021. This newly created position aims to enhance the company's engagement with investors while maintaining a prudent capital structure.

Kelly Janzen, CFO, expressed excitement about Taylor's extensive experience in investor relations and capital markets, expecting him to significantly contribute to BlueLinx’s growth strategy.

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.