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Mar 30, 2024
BlueLinx Q1 2024 Earnings Report
Reported solid start to 2024 with strong margins in specialty and structural products, despite deflationary pressures and adverse weather conditions.
Key Takeaways
BlueLinx reported net sales of $726 million and a net income of $17 million, or $2.00 diluted earnings per share. Adjusted EBITDA stood at $39 million, or 5.3% of net sales. The company's available liquidity was $828 million, with a net debt of ($133) million.
Net sales reached $726 million.
Gross profit was $128 million, with a gross margin of 17.6%.
Net income amounted to $17 million, or $2.00 diluted earnings per share.
Available liquidity was $828 million, including $481 million in cash and cash equivalents.
Revenue by Segment
Forward Guidance
Through the first four weeks of the second quarter of 2024, specialty product gross margin was in the range of 18% to 19% and structural product gross margin was in the range of 10% to 11%. Average daily sales volumes were slightly improved versus the first quarter of 2024.
Positive Outlook
- Specialty product gross margin in the range of 18% to 19% for the first four weeks of Q2 2024.
- Structural product gross margin in the range of 10% to 11% for the first four weeks of Q2 2024.
- Average daily sales volumes slightly improved versus the first quarter of 2024.
- Strong margins in specialty products
- Strong margins in structural products
Challenges Ahead
- Ongoing deflationary pressures associated with the specialty business
- January weather conditions that adversely impacted volumes.
- Decrease in net sales compared to the first quarter of 2023
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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