Bluelinx Hldgs Inc Stock Price, News & Analysis

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.

BlueLinx Holdings Inc. (NYSE: BXC) announced an amendment to its universal shelf registration statement, originally filed in November 2019. This amendment is necessary to prevent the filing from being deemed abandoned by the SEC, as no actions were taken to pursue its effectiveness after the initial filing. While there are currently no plans to issue securities, successful effectiveness of the registration would allow the company to offer up to $50 million in various securities. This move positions BlueLinx for future capital opportunities.

BlueLinx Holdings (NYSE: BXC) has successfully completed a sale-leaseback transaction involving its Denver distribution facility, generating $10.6 million in net cash proceeds. This transaction, finalized on August 14, 2020, allowed BlueLinx to repay part of its term loan, reducing its balance to approximately $57.8 million. The company will no longer be subject to the total net leverage ratio covenant of the loan, provided the balance stays below $45 million. Management indicates ongoing efforts to monetize real estate assets as part of a broader deleveraging strategy.

BlueLinx Holdings Inc. (NYSE:BXC) has announced a new distribution agreement with LP Building Solutions to distribute LP® SmartSide® and LP® SmartSide® ExpertFinish® Trim & Siding in Northeast U.S. markets. This partnership will enhance BlueLinx's product offerings and improve customer service. The products will be distributed from various facilities across the Northeast, contributing to BlueLinx's commitment to provide high-quality building solutions. The agreement aligns with LP's growth strategy and aims to increase efficiency in installations and aesthetics.

BlueLinx Holdings reported net sales of $699 million for Q2 2020, slightly down from $706 million in Q2 2019. Gross margin improved to 14.4% from 13.3%, and net income rose to $7 million from $6 million. Adjusted EBITDA increased by 24% to $31 million. The company reduced debt by $125 million and has $138 million available in cash and credit. Despite challenges from COVID-19, BlueLinx observed market recovery with increased housing starts and improved commodity prices, affirming operational advancements from 2019.

BlueLinx Holdings Inc. (NYSE: BXC) will hold a conference call on August 4, 2020, at 10:00 a.m. Eastern Time to discuss its second-quarter financial results. The press release with the results will be available post-market on August 3. CEO Mitch Lewis and CFO Kelly Janzen will present the financial results during the call. Investors can join via telephone or access a live webcast on the company's website. BlueLinx operates as a major distributor of building and industrial products across 40 states, offering over 50,000 SKUs.

BlueLinx Holdings Inc. (NYSE:BXC) reported a net sales increase to $662 million in Q1 2020, up from $639 million the previous year, driven by higher volumes and price inflation. Gross margin improved to 14.1% from 13.5%, leading to an Adjusted EBITDA of $19.9 million. The company reduced its net loss to $0.8 million from $6.7 million. Despite the ongoing COVID-19 pandemic impacts, BlueLinx's operations have been designated essential, and it reports no significant supply chain disruptions. The company entered Q2 with approximately $97 million in cash and liquidity.