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Dec 30, 2023
BlueLinx Q4 2023 Earnings Report
BlueLinx's Q4 2023 performance was marked by net sales of $713 million and a net loss of $18 million, influenced by a one-time pension plan charge, while adjusted net income reached $26 million.
Key Takeaways
BlueLinx reported a decrease in net sales to $713 million and a net loss of $18 million for Q4 2023, primarily due to a one-time charge related to the exit of a defined benefit pension plan. However, the company demonstrated strong margin performance and free cash flow, with adjusted net income at $26 million and adjusted EBITDA at $36 million.
Net sales reached $713 million.
Gross profit was $118 million with a gross margin of 16.6%.
Net loss amounted to $18 million, or $2.08 per share, impacted by a one-time $30.4 million pension plan charge.
Adjusted net income was $26 million, or $2.94 adjusted diluted earnings per share.
Revenue by Segment
Forward Guidance
Through the first seven weeks of the first 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%. Daily sales volumes for specialty and structural were down approximately 10% versus the prior year partially reflecting severe weather conditions in January.
Positive Outlook
- Specialty product gross margin was in the range of 18% to 19%.
- Structural product gross margin was in the range of 10% to 11%.
Challenges Ahead
- Daily sales volumes for specialty were down approximately 10% versus the prior year.
- Daily sales volumes for structural were down approximately 10% versus the prior year.
- Severe weather conditions in January.
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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