BLUELINX HOLDINGS Reports Second Quarter Earnings Results for Fiscal Year 2023
August 23, 2023
🌥️Earnings Overview
On August 1, 2023, BLUELINX HOLDINGS ($NYSE:BXC) reported its earnings results for the second quarter of Fiscal Year 2023, which ended on June 30, 2023. Total revenue for the quarter was USD 816.0 million, a 34.2% decrease compared to the same period in the prior year. Net income for the quarter amounted to USD 24.5 million, a decrease of 65.7% from the same period in the prior year.
Market Price
The stock opened at 93.7 and closed at 96.4, a 2.3% increase from the prior closing price of 94.2. The company is optimistic that their strong financials and stable dividend will help drive continued growth over the next few quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bluelinx Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 3.52k | 133.77 | 3.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bluelinx Holdings. More…
| Operations | Investing | Financing |
| 449.99 | -106.25 | -30.36 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bluelinx Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.55k | 927.7 | 69.17 |
Key Ratios Snapshot
Some of the financial key ratios for Bluelinx Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.9% | 81.4% | 6.0% |
| FCF Margin | ROE | ROA |
| 11.6% | 21.4% | 8.5% |
Analysis
GoodWhale’s analysis of BLUELINX HOLDINGS‘s financials has revealed that the company is classified as a ‘rhino’ according to our Star Chart. This indicates that BLUELINX HOLDINGS has achieved moderate revenue or earnings growth. In terms of its financial health, BLUELINX HOLDINGS has a high score of 7/10 which suggests that it is capable of sustaining future operations in times of crisis. Moreover, BLUELINX HOLDINGS is strong in asset, medium in growth, profitability and weak in dividend. Given these points, the type of investors interested in such a company would be those that are interested in investing in companies with moderate revenue or earnings growth. They may also be comfortable with taking on more risk as the company’s dividend is weak. Ultimately, these types of investors will be able to look past short-term difficulties and focus on the long-term prospects of BLUELINX HOLDINGS. 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
For the second quarter of Fiscal Year 2023, BLUELINX HOLDINGS reported a 34.2% decrease in total revenue and a 65.7% decrease in net income compared to the same period in the previous year. This presents a challenging investment case as investors are faced with declining earnings and revenue year over year. Further evaluation is needed to determine whether BLUELINX HOLDINGS is a good investment opportunity in the current market environment. Investors should consider the company’s long-term outlook, financial performance, and competitive positioning within the industry before making an investing decision.
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