BlueLinx Holdings Inc. (NYSE:BXC) Q4 2023 Earnings Conference Call February 21, 2024 10:00 AM ET Company Participants Tom Morabito - Investor Relations Officer Shyam Reddy - President and CEO Andy Wamser - CFO Conference Call Participants Greg Palm - Craig-Hallum Capital Group Jeffrey Stevenson - Loop Capital Reuben Garner - Benchmark Company Kurt Yinger - D.A. Davidson Operator Ladies and gentlemen, thank you for standing by, and welcome to the BlueLinx Holdings Fourth Quarter and Full Year 2023 Earnings C ...

Financial Performance - Net sales for the fiscal year ended December 30, 2023, were $3,136,381, a decrease from $4,450,214 in the previous year, representing a decline of approximately 29.6%[151] - Gross profit for the fiscal year 2023 was $527,017, down from $832,984 in fiscal 2022, indicating a decrease of about 36.6%[151] - Operating income for fiscal 2023 was $138,449, compared to $439,087 in fiscal 2022, reflecting a decline of approximately 68.4%[151] - Basic earnings per share for fiscal 2023 were $5.40, a significant decrease from $31.75 in fiscal 2022[151] - The total operating expenses for fiscal 2023 were $388,568, slightly down from $393,897 in fiscal 2022[151] Shareholder Actions - The company repurchased 506,312 shares of common stock for $42.1 million at an average price of $83.21 per share[208] Product Segmentation - Specialty products accounted for approximately 70% of net sales in fiscal 2023, while structural products represented about 30%[209] Pension Plan Settlement - The company settled its frozen defined benefit pension plan during the fourth quarter of fiscal 2023, transferring future financial responsibility to an insurance company[153] - The company anticipates no additional funding obligations related to the settled pension plan, with some union employees still participating in multi-employer pension plans[153] Goodwill and Valuation - The valuation allowance related to net operating losses as of December 30, 2023, was approximately $3.5 million[157] - As of December 30, 2023, the carrying value of goodwill was $55.4 million, representing less than 4% of consolidated assets[162] - The company performed a quantitative annual goodwill assessment, which indicated that goodwill was not impaired[162] Financial Instruments and Risks - The company has no material financial instruments exposed to commodity price risk as of December 30, 2023[165] - The prices of building products, including OSB, plywood, lumber, and rebar, are influenced by market supply and demand, economic conditions, and competition[165] - The company had no outstanding borrowings on its revolving credit facility as of December 30, 2023[166] - Senior secured notes bear interest at a fixed rate, insulating the company from interest rate increases if debt covenants are maintained[166] - The company may enter into derivative financial instruments to mitigate commodity price fluctuations, but had none in place as of December 30, 2023[165] - Interest rate changes could impact the terms and pricing of future refinancings of term debt[166] - The company is exposed to interest rate risk from fluctuations in variable-rate SOFR when amounts are outstanding on its revolving credit facility[166] - The company is subject to market risks, including commodity price risk and interest rate risk, as part of its ongoing business operations[164]

ATLANTA--(BUSINESS WIRE)--BlueLinx Holdings Inc. (NYSE: BXC), a leading U.S. wholesale distributor of building products, will issue fourth quarter and full year 2023 financial results after the market closes on Tuesday, February 20, 2024. A conference call to discuss the Company’s results will be hosted by Shyam Reddy, President and Chief Executive Officer, and Andy Wamser, Chief Financial Officer, on Wednesday, February 21, 2024, at 10:00 AM ET. A webcast of the conference call and accompanying presentati ...

ATLANTA, Jan. 16, 2024 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE:BXC), a leading U.S. wholesale distributor of building products, and Huber Engineered Woods LLC, a subsidiary of J.M. Huber Corporation, a leading privately-held specialty building products manufacturer, are pleased to announce an expansion of their distribution partnership. The expansion will include Huber's assortment of AdvanTech® subflooring and ZIP System™ building enclosure product lines in BlueLinx's Denville, NJ, and Pensacola, ...

11 Operating Working Capital Management(1) $ in millions 40% 10% Amortization CAPITAL ALLOCATION FRAMEWORK ▪ Long-term net leverage could increase to at or around 3.0x when considering growth ▪ Acquisitions aligned to strategy 13 Q&A Total U.S. Single Family Housing Starts (SFHS) Months of inventory(2) 14 ~7 months of home inventory 12 10 8 20-year average 2 0 2000 2001 ETOZ 2007 2003 2007 2009 01.05 ttoz 5107 2014 STOF LT01 rzoi zz.0z EZOI 2004 2006 2008 9107 BT 07 2019 0201 3005 (1) Source: Historical dat ...

BlueLinx Holdings Inc (NYSE:BXC) Q3 2023 Earnings Conference Call November 1, 2023 10:00 AM ET Company Participants Tom Morabito - Investor Relations Shyam Reddy - President, CEO Andy Wamser - SVP & CFO Conference Call Participants Greg Palm - Craig-Hallum Capital Group Reuben Garner - Benchmark Company Kurt Yinger - D.A. Davidson Jeffrey Stevenson - Loop Capital Markets Operator Call has been recorded. We will begin with the opening remarks and introductions. At this time I would like to turn the conferenc ...

Supply Constraints 19 imposed by federal, state, local, and other regulations; compliance costs associated with federal, state, and local environmental protection laws; costs associated with federal law and regulations regarding importation of products; global pandemics, such as COVID-19, and other widespread public health crises and their potential effects on our business; fluctuations in our operating results; our level of indebtedness and our ability to incur additional debt to fund future needs; the cov ...

Most of my questions have been answered. I want to ask one on your warehousing versus the direct business. I don't think I saw the Q2 mix. Sorry, we had a several reports this morning. Are you seeing continued increase in the use of the warehousing piece and can you discuss maybe your margin difference between those two? Is that helping kind of margins sustain at these 6% EBITDA type levels? So it allows us to really help them manage their working capital, provide just in time delivery and do other things t ...

Sequentially speaking, the story is equally compelling. Over the last 2 quarters, we generated a total of $243 million in operating cash. During the same period, we also increased our liquidity by approximately $150 million to end the quarter at a record $723 million. The additional cash on hand further strengthens our ability to execute on our capital allocation initiatives. That discipline and relentless focus on inventory management helped us reduce our total inventory by $75 million since the beginning ...

BlueLinx Holdings Inc. (NYSE:BXC) Q4 2022 Results Conference Call February 22, 2023 10:00 AM ET Company Participants Alexandra Lukacs - Manager of Investor Relations Dwight Gibson - President and CEO Kelly Janzen - Chief Financial Officer Conference Call Participants Danny Eggerichs - Craig Hallum Kurt Yinger - D.A. Davidson Reuben Garner - The Benchmark Company Garik Shmois - Loop Capital Markets Walt Liptak - Seaport Global Operator Greetings. And welcome to the BlueLinx Holdings' Fourth Quarter and Full ...