BLUELINX HOLDINGS Reports Second Quarter Earnings Results for FY2023
August 14, 2023
🌥️Earnings Overview
For the quarter ending June 30th, 2023, BLUELINX HOLDINGS ($NYSE:BXC) reported total revenue of USD 816.0 million, a decrease of 34.2% compared to the same quarter in the prior year. Net income for the quarter was USD 24.5 million, a decline of 65.7% from the same quarter a year ago.
Share Price
On Tuesday, BLUELINX HOLDINGS reported its second quarter earnings results for fiscal year 2023. The company opened at $93.7 and closed at $96.4, a 2.3% increase from the prior closing price of $94.2. Investors were pleased with the numbers, as the stock experienced a positive reaction in the market. The company attributed the strong earnings results to improved efficiency and cost savings initiatives, as well as increased focus on customer service and satisfaction.
In addition, BLUELINX HOLDINGS’s better-than-expected performance was due to their excellent execution of strategic plans, such as expanding their portfolio of products and services to meet customer needs. Looking ahead, BLUELINX HOLDINGS expects to continue to grow their earnings by leveraging their strong financial position and focus on customer service. With their commitment to providing quality products and services, the company is confident that they will continue to outperform expectations and remain a leader in their industry. 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
At GoodWhale, we have conducted an analysis of BLUELINX HOLDINGS. Our Risk Rating for this company is medium, indicating that it presents a certain level of risk when considering financial and business aspects. Upon further inspection, our team has identified two risk warnings in BLUELINX HOLDINGS’ income sheet and balance sheet. To gain a more complete understanding of the company’s financial performance, we recommend registering with us to check out these warnings. We are committed to providing our customers with the most accurate and up-to-date information about potential investments. 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
Overall, BLUELINX HOLDINGS‘ second quarter of FY2023 has shown a decline in both revenue and income compared to the previous year. Total revenue was down 34.2%, with reported net income dropping by 65.7%. Investors should look carefully at the company’s financials, and consider any potential changes in the market or other areas that may affect the stock, before making any decisions. As always, it’s important to do proper research and understand the risks associated with investing in a company before taking any action.
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