Bluelinx Hldgs Inc - BXC STOCK NEWS

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.

BlueLinx Holdings (NYSE: BXC) has successfully repaid approximately $16 million of its term loan facility as of April 2, 2021, utilizing funds from its revolving credit facility. This repayment aims to lower cash interest expenses and streamline the company’s capital structure. CFO Kelly Janzen highlighted the firm’s focus on deleveraging while maintaining liquidity for growth, reflecting confidence in the strength of its end-markets and efficient working capital management. BlueLinx operates across 40 states, distributing building products to over 15,000 clients.

BlueLinx reported a record year with net sales of $865 million and net income of $20 million in Q4 2020, driven by strong demand in residential construction and renovation. Full-year net sales reached $3.1 billion, up 17% from the previous year, with adjusted EBITDA hitting $170 million, a $99 million increase. The company reduced total bank debt by 30% to improve financial stability. Key growth areas included specialty products, with significant price inflation in commodity wood contributing to results. Positive market conditions are expected to persist into 2021.

BlueLinx Holdings (NYSE: BXC) announced the appointment of Carol B. Yancey to its Board of Directors, effective February 15, 2021. Yancey, currently the CFO of Genuine Parts Co., brings extensive financial expertise and industry knowledge. She will also serve on the audit and governance committees. The board believes her skills will enhance BlueLinx's growth strategies and operational efficiency in capital markets and margin enhancement.

BlueLinx Holdings (NYSE: BXC) will announce its fourth quarter and full year 2020 financial results on March 3, 2021, after market close. A conference call will follow on March 4, 2021, at 10:00 AM ET with CEO Mitch Lewis and CFO Kelly Janzen. The call will be accessible via webcast on the BlueLinx Investor Relations website. Interested participants can join the live teleconference by calling 877.873.5864, passcode 7526639. A replay will be available until March 11, 2021, by dialing 404.537.3406, also using the passcode 7526639.

BlueLinx Holdings reported impressive Q3 2020 results with net sales reaching $871 million, a 28.3% increase year-over-year. The net income surged to $55 million, up from a $7 million loss last year. Adjusted EBITDA also hit a record of $81 million, compared to $19 million in Q3 2019. The company reduced its total outstanding bank debt by $181 million, enhancing liquidity to $202 million. Despite challenges from the COVID-19 pandemic, BlueLinx capitalized on a strong housing market and rising commodity prices.

BlueLinx (NYSE: BXC) will release its third quarter 2020 financial results after market close on October 28, 2020. A conference call, featuring CEO Mitch Lewis and CFO Kelly Janzen, will take place on October 29, 2020, at 10:00 AM ET. Investors can access a webcast of the call along with presentation materials at the BlueLinx Investor Relations website. A replay of the call will be available until November 6, 2020. BlueLinx is a leading distributor in the U.S. with a product range servicing 40 states and approximately 15,000 customers.