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Jun 29, 2024
BlueLinx Q2 2024 Earnings Report
BlueLinx reported second quarter results, showing a decrease in net sales and gross profit compared to the previous year, but highlighted by solid volume growth in key specialty product categories.
Key Takeaways
BlueLinx reported a decrease in net sales by 6% and a decrease in gross profit by 10% compared to the second quarter of 2023. Despite a challenging macro environment, the company saw solid volume growth in several key specialty product categories. The company ended the quarter with a strong liquidity position, including $491 million in cash and cash equivalents.
Net sales were $768 million.
Net income was $14 million, or $1.65 diluted earnings per share.
Adjusted EBITDA was $34 million, representing 4.5% of net sales.
The company generated $36 million in operating cash flow and $29 million in free cash flow.
Revenue by Segment
Forward Guidance
Through the first four weeks of the third 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 8% to 9%. Average daily sales volumes were improved versus the second quarter of 2024.
Positive Outlook
- Specialty product gross margin in the range of 18% to 19%.
- Structural product gross margin in the range of 8% to 9%.
- Average daily sales volumes improved versus the second quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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