BlueLinx Q2 net sales drop 34% to $816M; net income falls to $24M from $71M YoY

BlueLinx Holdings Inc.

2023-Q2 EPS reported $4.67 revenue$1,613,871,000

Net sales $816M, down $423M or 34% YoY; net income $24M ($2.70 diluted EPS) vs $71M ($7.48) prior year.
Adjusted net income $26M ($2.91 diluted EPS); Adjusted EBITDA $49M (6.0% of sales) vs $112M (9.1%) prior year.
Specialty sales $571M (-28% YoY); gross margin 19.1% vs 22.9%. Structural sales $245M (-46%); gross margin 11.0% vs 4.7%.
Operating cash flow $64M, free cash flow $59M; net debt $153M, net leverage 0.6x. Repurchased $12M of stock.
Q3 outlook: specialty gross margin 18.5-19.5%; structural 12-13%; volumes consistent with Q2.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BlueLinx Holdings Inc. reported the fiscal second quarter ended July 1, 2023 results: revenue $816 million, net income $24 million, EPS $2.70 per diluted share. Guidance initiated.

Period: the fiscal second quarter ended July 1, 2023
Revenue: $816 million
Net income: $24 million
EPS: $2.70 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

SECOND QUARTER 2023 HIGHLIGHTS (all comparisons are versus the prior year period unless otherwise noted) • Net sales of $816 million, a decrease of $423 million • Gross profit of $136 million, gross margin of 16.6% and specialty product gross margin of 19.1% • Net income of $24 million, or $2.70 diluted earnings per share

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Source: SEC EDGAR

accession 0001301787-23-000065

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