BLUELINX HOLDINGS Reports Record Fourth Quarter Earnings for FY2022, Ending February 21, 2023.

Earnings report

BLUELINX HOLDINGS ($NYSE:BXC) recently reported its financial results for the fourth quarter of FY2022, ending February 21, 2023. Total revenue for the quarter hit USD 32.0 million, representing a 56.5% decrease compared to the same period the year before. Despite this decline, net income reported year over year still dropped 12.9% to USD 847.8 million. For the quarter, BLUELINX HOLDINGS reported record earnings that outperformed the previous year’s results. This strong performance was driven by the company’s focus on innovation and cost reduction.

Additionally, the company was able to successfully manage pricing and inventory levels to mitigate the effects of weak demand throughout the quarter. Looking forward, BLUELINX HOLDINGS remained confident in their ability to continue delivering strong results in the upcoming quarters. The company is focusing on product expansion and strategic investments to better position themselves for long-term growth and success.

Market Price

However, despite these positive results, the stock opened at $89.1 on Tuesday and declined to close at 83.2, representing a 8.0% drop from its previous closing price of $90.5. This was attributed to disappointment in the company’s outlook for the upcoming year, with analysts predicting slower growth. Overall, the results were a positive indication of the company’s health, but investors were still not convinced that long-term growth prospects were that strong. Nevertheless, investors will be watching closely to see how BLUELINX HOLDINGS performs in the fiscal year 2022 in order to determine if their faith in the company is warranted. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Bluelinx Holdings. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Bluelinx Holdings. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Bluelinx Holdings. More…

Key Ratios Snapshot

Some of the financial key ratios for Bluelinx Holdings are shown below. More…

Analysis

A t G o o d W h a l e , w e c o n d u c t e d a n a n a l y s i s o f t h e f i n a n c i a l s o f B L U E L I N X H O L D I N G S . B a s e d o n o u r S t a r C h a r t , B L U E L I N X H O L D I N G S f a l l s i n t o t h e c a t e g o r y o f “ r h i n o s , ” w h i c h a r e c o m p a n i e s t h a t h a v e a c h i e v e d m o d e r a t e r e v e n u e o r e a r n i n g s g r o w t h . T h i s t y p e o f c o m p a n y m a y b e a t t r a c t i v e t o d i f f e r e n t t y p e s o f i n v e s t o r s . B L U E L I N X H O L D I N G S i s s t r o n g i n t e r m s o f a s s e t s a n d g r o w t h , a n d m e d i u m i n t e r m s o f p r o f i t a b i l i t y b u t w e a k i n t e r m s o f d i v i d e n d s . More…

Peers

There is fierce competition between BlueLinx Holdings Inc and its competitors: Beacon Roofing Supply Inc, Noda Corp, Daiken Co Ltd. All four companies are vying for market share in the highly competitive roofing supplies industry.

However, its competitors are also well-established and are constantly innovating to try to gain market share.

– Beacon Roofing Supply Inc ($NASDAQ:BECN)

Beacon Roofing Supply, Inc. is engaged in the distribution of residential and commercial roofing materials in the United States and Canada. The Company’s segments include Residential Roofing, Commercial Roofing, Exterior and Interior Building Products, and Roofing Components and Metal Shingles. It offers a portfolio of products, including asphalt shingles, metal roofing, slate roofing, tile roofing, commercial roofing, siding, windows, decking, waterproofing and air barriers. The Company’s subsidiaries include Beacon Roofing Supply Canada Inc., and BRS International Holdings Limited.

– Noda Corp ($TSE:7879)

Noda Corp is a Japanese company that manufactures and sells electronic products. It has a market cap of 20.7B as of 2022 and a ROE of 17.42%. The company’s products include electronic components, semiconductors, and other electronic products.

– Daiken Co Ltd ($TSE:5900)

Daiken Co Ltd is a Japanese company that manufactures and sells electric power equipment, including transformers, circuit breakers, and cables. The company has a market cap of 3.67B as of 2022 and a Return on Equity of 2.29%. Daiken Co Ltd is a publicly traded company listed on the Tokyo Stock Exchange.

Summary

Investors in BLUELINX HOLDINGS have seen a slump in their returns for the quarter as total revenue decreased by 56.5% compared to the same period a year ago to USD 32.0 million, and net income decreased 12.9% to USD 847.8 million. The stock price reflected this downturn, dropping the same day. As the market recovers, it will be interesting to see if BLUELINX HOLDINGS can return to its pre-pandemic performance.