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Apr 03, 2021
BlueLinx Q1 2021 Earnings Report
BlueLinx reported first quarter results with net sales exceeding $1 billion and a record net income of $62 million.
Key Takeaways
BlueLinx Holdings Inc. reported strong first-quarter results, with net sales reaching $1.0 billion, the highest Q1 since 2006, and a record net income of $62 million. The company's performance was driven by continued strength in residential construction and home renovation, as well as price escalations in many of its products.
Net sales increased by $363 million, or 55%, to $1.0 billion.
Gross margin increased 350 basis points to 17.6%.
Net income was $62 million, an increase of $63 million.
Adjusted EBITDA improved by $87 million to $107 million.
Revenue by Segment
Forward Guidance
BlueLinx remains committed to its strategic priorities that include sales growth, margin expansion, strategic product emphasis and continuous improvements in operational efficiency.
Positive Outlook
- Committed to driving sustained sales growth and margin expansion through increased penetration of the national dealer, home center and local markets.
- Continued to invest in resources and analytical tools to support its disciplined pricing strategies and has expanded sales support for these key customer segments.
- Focused on delivering specialized, higher-value products, in which two-step distribution plays a key role.
- Committed to further building its relationships with marquee brands through its valued supplier partners, while investing in products with low disintermediation risk.
- Emphasizes continuous improvement in its operational processes through project initiatives and investments in fleet, facility optimization, and technologies.
Challenges Ahead
- Higher raw material costs impacted construction activity during the first quarter.
- Adverse weather conditions impacted construction activity during the first quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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