BlueLinx Holdings Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>BlueLinx Holdings Inc. has submitted its annual 10-K filing for the fiscal year 2023, detailing its financial performance and business operations.</b>

AI Summary

BlueLinx Holdings Inc. (BXC) filed a Annual Report (10-K) with the SEC on February 20, 2024. BlueLinx Holdings Inc. filed its 10-K report for the fiscal year ending December 30, 2023. The filing covers the period from January 1, 2023, to December 30, 2023. The company's principal business address is 1950 Spectrum Circle, Suite 300, Marietta, GA 30067. BlueLinx Holdings Inc. operates in the Wholesale - Lumber, Plywood, Millwork & Wood Panels sector (SIC 5031). The filing includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking BlueLinx Holdings Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of BlueLinx Holdings Inc.'s financial health, operational performance, and strategic positioning for the fiscal year 2023, which is crucial for investors and stakeholders to assess the company's current standing and future prospects. The detailed financial statements and risk factors within the report offer insights into the company's revenue streams, profitability, debt levels, and potential challenges within the wholesale lumber and building products market.

Risk Assessment

Risk Level: medium — BlueLinx Holdings Inc. shows moderate risk based on this filing. The company operates in the wholesale lumber and building products sector, which is subject to cyclical demand and price volatility, as indicated by its SIC code and the nature of its business. This exposes it to market fluctuations that can impact financial performance.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand BlueLinx Holdings Inc.'s performance and outlook in the volatile building products market.

Key Numbers

• 2023-12-30 — Fiscal Year End (The end date of the reporting period)
• 2024-02-20 — Filing Date (The date the 10-K was filed with the SEC)
• 5031 — SIC Code (Standard Industrial Classification for the company's industry)
• 001-32383 — SEC File Number (The company's SEC file number)

Key Players & Entities

• BlueLinx Holdings Inc. (company) — Filer of the 10-K report
• 1950 SPECTRUM CIRCLE SUITE 300 MARIETTA GA 30067 (company) — Business and mailing address
• 770-953-7000 (company) — Business phone number
• 0001301787 (company) — Central Index Key
• 5031 (company) — Standard Industrial Classification code for Wholesale-Lumber, Plywood, Millwork & Wood Panels
• 2023-12-30 (date) — Fiscal year end date
• 2024-02-20 (date) — Filing date
• Vandermeer Forest Products Inc (company) — Subsidiary or acquired entity mentioned in context

FAQ

Key Dates

• 2023-12-30: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-20: Filing Date — The date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share BXC New York Stock Exchange
• $93.78 — price on the New York Stock Exchange of $93.78 per share on June 30, 2023. As of Febr
• $69.7 million — ring the 2023 fiscal year, we allocated $69.7 million of capital towards the following transa
• $27.5 million — cash and cash equivalents: We invested $27.5 million in capital for our business to improve
• $42.1 million — 506,312 shares of our common stock for $42.1 million under our share repurchase programs at
• $83.21 — urchase programs at an average price of $83.21 per share, excluding broker commissions
• $6.9 million — ly Retirement Plan, we also contributed $6.9 million to the plan in fiscal 2023. This is dis

Filing Documents

• bxc-20231230.htm (10-K) — 1745KB
• exhibit41descriptionofsecu.htm (EX-4.1) — 16KB
• exhibit1013-revisedformexe.htm (EX-10.13) — 45KB
• exhibit10352023formofrsuti.htm (EX-10.35) — 54KB
• exhibit10362023formofrsupe.htm (EX-10.36) — 56KB
• exhibit10372023formofrsuag.htm (EX-10.37) — 28KB
• exhibit211subsidiaries.htm (EX-21.1) — 60KB
• exhibit231consentofey.htm (EX-23.1) — 6KB
• a123020234q10-kex311.htm (EX-31.1) — 11KB
• a123020234q10-kex312.htm (EX-31.2) — 11KB
• a123020234q10-kxex321.htm (EX-32.1) — 5KB
• a123020234q10-kex322.htm (EX-32.2) — 5KB
• exhibit971clawbackrecoupme.htm (EX-97.1) — 34KB
• bxc-20231230_g1.jpg (GRAPHIC) — 8KB
• bxc-20231230_g2.jpg (GRAPHIC) — 124KB
• 0001301787-24-000009.txt (&nbsp;) — 10473KB
• bxc-20231230.xsd (EX-101.SCH) — 63KB
• bxc-20231230_cal.xml (EX-101.CAL) — 123KB
• bxc-20231230_def.xml (EX-101.DEF) — 251KB
• bxc-20231230_lab.xml (EX-101.LAB) — 909KB
• bxc-20231230_pre.xml (EX-101.PRE) — 590KB
• bxc-20231230_htm.xml (XML) — 1501KB

Business

Business 4 ITEM 1A

Risk Factors

Risk Factors 10 ITEM 1B Unresolved Staff Comments 22 ITEM 1C Cybersecurity 22 ITEM 2

Properties

Properties 23 ITEM 3

Legal Proceedings

Legal Proceedings 23 ITEM 4 Mine Safety Disclosures 23 PART II ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 25 ITEM 6 [Reserved] 26 ITEM 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 ITEM 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 77 ITEM 9A

Controls and Procedures

Controls and Procedures 77 ITEM 9B Other Information 79 ITEM 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 79 PART III ITEM 10 Directors, Executive Officers, and Corporate Governance 80 ITEM 11

Executive Compensation

Executive Compensation 80 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 80 ITEM 13 Certain Relationships and Related Transactions, and Director Independence 80 ITEM 14 Principal Accountant Fees and Services 81 PART IV ITEM 15 Exhibits and Financial Statement Schedules 82 ITEM 16 Form 10-K Summary 86

Signatures

Signatures 87 2 Table of Contents As used herein, unless the context otherwise requires, "BlueLinx," the "Company," "we," "us," and "our" refer to BlueLinx Holdings Inc. and its wholly-owned subsidiaries. Reference to "fiscal 2023" refers to the 52-week period ending December 30, 2023. Reference to "fiscal 2022" refers to the 52-week period ended December 31, 2022. Reference to "fiscal 2021" refers to the 52-week period ended January 1, 2022. CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Annual Report" or "Form 10-K") contains forward-looking statements. Forward-looking statements include, without limitation, any statements that predict, forecast, indicate or imply future results, performance, liquidity levels or achievements, and may contain the words "believe," "anticipate," "could," "expect," "estimate," "intend," "may," "project," "plan," "should," "will," "will be," "will likely continue," "will likely result" "would," or words or phrases of similar meaning. Forward-looking statements are based on estimates and assumptions made by our management that, although believed by us to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties that may cause our business, strategy, or actual results to differ materially from the forward-looking statements. These risks and uncertainties include those discussed under the heading "Risk Factors" in Part I, Item 1A, those discussed under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 7, and those discussed elsewhere in this report and in future reports that we file with the Securities and Exchange Commission. We operate in a changing environment in which new risks can emerge from time to time. It is not possible for management to predict all of these risks, nor can it assess the extent to which any factor, or a combination of factors, may cause our business, st

BUSINESS

ITEM 1. BUSINESS General BlueLinx is a leading wholesale distributor of residential and commercial building products in the United States. We are a "two-step" distributor. Two-step distributors purchase products from manufacturers and distribute those products to dealers and other suppliers in local markets, who then sell those products to end users. We carry a broad portfolio of both branded and private-label stock keeping units ("SKUs") across two principal product categories: specialty products and structural products. Specialty products include items such as engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products. Structural products include items such as lumber, plywood, oriented strand board, rebar, and remesh. We also provide a wide range of value-added services and solutions aimed at relieving distribution and logistics challenges for our customers and suppliers, while enhancing their marketing and inventory management capabilities. We have a strong market position and a broad geographic coverage footprint servicing all 50 states. We operate our business from 66 warehouse and office facilities, allowing us to serve 75 percent of the highest growth metropolitan statistical areas as it relates to forecasted housing starts and repair and remodel spend . With the strength of a locally focused sales force, we distribute a comprehensive range of products from over 750 suppliers. Our suppliers include some of the leading manufacturers in the industry, such as Allura, Arauco, Fiberon, Georgia-Pacific, Huber Engineered Woods, Louisiana-Pacific, Oldcastle APG, Ply Gem, Roseburg, Royal and Weyerhaeuser. We supply products to a broad base of customers including national home centers, pro dealers, cooperatives, specialty distributors, regional and local dealers and industrial manufacturers. Many of our customers serve residential and commercial builders, contractors and remodelers in their respective geographic areas and

View Full Filing

View this 10-K filing on SEC EDGAR