BlueLinx Holdings Inc. Files Q2 2024 10-Q

TL;DR

BlueLinx Holdings Inc. filed its Q2 2024 10-Q. Check financials.

AI Summary

BlueLinx Holdings Inc. filed its 10-Q for the period ending June 29, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided for the second quarter of 2024.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational details for BlueLinx Holdings Inc., crucial for understanding the company's current performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided header information.

Key Numbers

• 2024 Q2 — Reporting Period (Indicates the second quarter of 2024 as the reporting period.)
• 20240629 — Period End Date (The specific end date for the reporting period.)

Key Players & Entities

• BlueLinx Holdings Inc. (company) — Filer of the 10-Q
• 20240629 (date) — Conformed period of report
• 20240730 (date) — Filed as of date
• 770-953-7000 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share BXC New York Stock Exchange
• $0 — x Holdings Inc. common stock, par value $0.01, outstanding. BLUELINX HOLDINGS IN

Filing Documents

• bxc-20240629.htm (10-Q) — 890KB
• exhibit101formofawardagree.htm (EX-10.1) — 64KB
• exhibit102formofawardagree.htm (EX-10.2) — 79KB
• exhibit103formoffy2024bodr.htm (EX-10.3) — 30KB
• a6292024q2ex311.htm (EX-31.1) — 10KB
• a6292024q2ex312.htm (EX-31.2) — 10KB
• a6292024q2ex321.htm (EX-32.1) — 6KB
• a6292024q2ex322.htm (EX-32.2) — 6KB
• bxc-20240629_g1.jpg (GRAPHIC) — 8KB
• 0001301787-24-000024.txt ( ) — 5456KB
• bxc-20240629.xsd (EX-101.SCH) — 34KB
• bxc-20240629_cal.xml (EX-101.CAL) — 76KB
• bxc-20240629_def.xml (EX-101.DEF) — 102KB
• bxc-20240629_lab.xml (EX-101.LAB) — 480KB
• bxc-20240629_pre.xml (EX-101.PRE) — 315KB
• bxc-20240629_htm.xml (XML) — 734KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements — BlueLinx Holdings Inc. (Unaudited)

Item 1. Financial Statements — BlueLinx Holdings Inc. (Unaudited) 1 Condensed Consolidated Statements of Operations and Comprehensive Income 1 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Stockholders' Equity 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 Note 1 - Basis of Presentation 5 Note 2 - Inventories 6 Note 3 - Goodwill and Other Intangible Assets 7 Note 4 - Revenue Recognition 7 Note 5 - Debt and Finance Lease Obligations 8 Note 6 - Net Periodic Pension Cost 9 Note 7 - Share-Based Compensation 9 Note 8 - Leases 10 Note 9 - Commitments and Contingencies 13 Note 10 - Accumulated Other Comprehensive Loss 13 Note 11 - Income Taxes 14 Note 12 - Earnings Per Share and Stockholders' Equity 14 Note 13 - Fair Value Disclosures 15

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 25

Controls and Procedures

Item 4. Controls and Procedures 25

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 26

Risk Factors

Item 1A. Risk Factors 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26

Other Information

Item 5. Other Information 26

Exhibits

Item 6. Exhibits 27

Signatures

Signatures 28 i Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS BLUELINX HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (In thousands, except per share data) (Unaudited) Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales $ 768,363 $ 815,967 $ 1,494,607 $ 1,613,871 Cost of products sold 645,919 680,164 1,244,482 1,344,529 Gross profit 122,444 135,803 250,125 269,342 Operating expenses (income): Selling, general, and administrative 89,453 88,750 180,703 179,924 Depreciation and amortization 10,120 7,951 19,553 15,669 Amortization of deferred gains on real estate ( 984 ) ( 984 ) ( 1,968 ) ( 1,968 ) Other operating expenses 8 993 322 4,109 Total operating expenses 98,597 96,710 198,610 197,734 Operating income 23,847 39,093 51,515 71,608 Non-operating expenses: Interest expense, net 4,801 6,311 9,425 13,998 Other expense, net — 594 — 1,188 Income before provision for income taxes 19,046 32,188 42,090 56,422 Provision for income taxes 4,710 7,722 10,262 14,144 Net income $ 14,336 $ 24,466 $ 31,828 $ 42,278 Basic earnings per share $ 1.65 $ 2.70 $ 3.68 $ 4.67 Diluted earnings per share $ 1.65 $ 2.70 $ 3.66 $ 4.67 Comprehensive income: Net income $ 14,336 $ 24,466 $ 31,828 $ 42,278 Other comprehensive income: Amortization of unrecognized pension gain, net of tax — 225 — 464 Other — ( 11 ) — ( 22 ) Total other comprehensive income — 214 — 442 Comprehensive income $ 14,336 $ 24,680 $ 31,828 $ 42,720 See accompanying Notes. 1 Table of Contents BLUELINX HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) June 29, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 491,392 $ 521,743 Receivables, less allowances of $ 3,344 and $ 3,398 , respectively 273,537 228,410 Inventories, net 357,573 343,638 Other current assets 36,220 26,608 Total current assets 1,158,722 1,120,399 Property and equipment, at co

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