BlueLinx Q1 sales fall 39% to $798M; net income drops to $18M from $133M

BlueLinx Holdings Inc.

2023-Q1 EPS reported $1.94 revenue$797,904,000

Diluted EPS $1.94 GAAP, adjusted diluted EPS $2.53; YoY comparisons from $13.19 GAAP.
Gross margin 16.7%, down 560 bps; specialty margin 18.8%, structural margin 11.7%.
Operating cash flow $89M, free cash flow $80M; available liquidity $723M, net leverage 0.6x.
Specialty product sales -26% to $568M; structural product sales -57% to $230M on lower prices.
Company intends to repurchase $34M of stock under existing $100M program; Q2 early margins stable.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BlueLinx Holdings Inc. reported the three months ended April 1, 2023 results: revenue $798 million, net income $18 million, EPS $1.94 diluted earnings per share.

Period: the three months ended April 1, 2023
Revenue: $798 million
Net income: $18 million
EPS: $1.94 diluted earnings per share
Result: reported results

Exact text from the filing

results for the three months ended April 1, 2023. FIRST QUARTER 2023 HIGHLIGHTS (all comparisons are versus the prior year period unless otherwise noted) • Net sales of $798 million, a decrease of $504 million • Gross profit of $134 million, gross margin of 16.7% and specialty margin of 18.8% • Net income of $18 million, or $1.94 diluted earnings per share •

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Source: SEC EDGAR

accession 0001301787-23-000023

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