BlueLinx Holdings Earns $2.53 Non-GAAP EPS, Revenue Misses by $56.56M
May 3, 2023
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BLUELINX ($NYSE:BXC): BlueLinx Holdings, Inc. (NYSE: BXC) is a leading provider of building and industrial products in the US. The company recently reported their earnings for the quarter, with non-GAAP earnings per share (EPS) of $2.53. The company attributed the revenue miss to softness in the building products market. This was partly due to the impact of the pandemic, which caused a decrease in demand for certain products across the industry.
In addition, the company experienced higher freight costs than expected due to increased demand for transportation services. Overall, BlueLinx Holdings reported mixed results for the quarter, with EPS beating expectations but revenue falling short of estimates. While the company is working to adjust to the new market conditions, investors will be closely monitoring their progress in the coming quarters.
Market Price
Following news of the earnings report, BLUELINX HOLDINGS stock opened at $70.0 and closed at $67.5, down by 4.0% from prior closing price of 70.3. This represents a decrease in stock price despite the reported non-GAAP EPS being above the consensus estimate. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bluelinx Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 4.45k | 296.18 | 6.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bluelinx Holdings. More…
| Operations | Investing | Financing |
| 400.3 | -98.69 | -87.87 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bluelinx Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.49k | 900.01 | 65.21 |
Key Ratios Snapshot
Some of the financial key ratios for Bluelinx Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.1% | 170.1% | 9.8% |
| FCF Margin | ROE | ROA |
| 8.2% | 47.6% | 18.3% |
Analysis
GoodWhale is the perfect place to analyze the fundamentals of BLUELINX HOLDINGS. Using our financial and business analysis tools, we rate BLUELINX HOLDINGS as a medium risk investment. Our ratings are based on a comprehensive assessment of the company’s income statement, balance sheet, and other financial metrics. GoodWhale has also identified two risk warnings—so it’s important to be aware of these factors before investing in the company. Registering with GoodWhale will give you full access to all of our analysis tools, so you can make an informed decision about your investment. More…
Peers
There is fierce competition between BlueLinx Holdings Inc and its competitors: Beacon Roofing Supply Inc, Noda Corp, Daiken Co Ltd. All four companies are vying for market share in the highly competitive roofing supplies industry.
However, its competitors are also well-established and are constantly innovating to try to gain market share.
– Beacon Roofing Supply Inc ($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
Investing in BlueLinx Holdings can be a risky proposition. Despite their Non-GAAP earnings per share of $2.53 beating expectations by $0.05, their revenue of $798M fell short of expectations by $56.56M. As a result, their stock price moved down the same day. Analysts should consider multiple factors when deciding to invest in BlueLinx Holdings, such as their financial outlook, competitive position, and management team.
Additionally, investors should be aware of external factors that may influence the company’s future performance, such as the state of the economy and changing industry trends.
