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Sep 30, 2023
BlueLinx Q3 2023 Earnings Report
Reported a decrease in net sales and gross profit compared to the prior year period, but maintained strong margins in specialty products and generated significant operating cash flow.
Key Takeaways
BlueLinx reported Q3 2023 results with net sales of $810 million and net income of $24 million, or $2.71 diluted earnings per share. Despite a challenging environment, the company highlighted strong margins in specialty products and generated $73 million in free cash flow. A new $100 million share repurchase authorization was announced.
Net sales reached $810 million with a gross profit of $139 million.
Net income was reported at $24 million, or $2.71 diluted earnings per share.
The company generated $78 million in operating cash and $73 million in free cash flow.
A new $100 million share repurchase program was authorized.
Revenue by Segment
Forward Guidance
Through the first four weeks of the fourth quarter of 2023, specialty product gross margin was in the range of 18% to 19% with average daily volumes slightly down compared to what we experienced during the third quarter of 2023, but in line with historical seasonality. Structural product gross margin was in the range of 9% to 10%, with average daily sales volumes slightly up compared to the third quarter of 2023.
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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