BlueLinx Holdings Files Q3 2024 10-Q Report

TL;DR

BLNX Q3 24 10-Q filed. Check financials.

AI Summary

BlueLinx Holdings Inc. filed its 10-Q report for the period ending September 28, 2024. The company's fiscal year ends on December 28. Key financial data and reporting dates are included in the filing, which was submitted on October 29, 2024.

Why It Matters

This filing provides investors with an update on BlueLinx Holdings' financial performance and position as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024 Q3 — Reporting Period (The third quarter of fiscal year 2024.)
• 12/28 — Fiscal Year End (The company's fiscal year concludes on December 28th.)

Key Players & Entities

• BlueLinx Holdings Inc. (company) — Filer of the 10-Q report
• 2024-09-28 (date) — End of the reporting period
• 2024-10-29 (date) — Date the 10-Q was filed

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-20240928.htm (10-Q) — 956KB
• a9282024q3ex311.htm (EX-31.1) — 10KB
• a9282024q3ex312.htm (EX-31.2) — 10KB
• a9282024q3ex321.htm (EX-32.1) — 6KB
• a9282024q3ex322.htm (EX-32.2) — 6KB
• bxc-20240928_g1.jpg (GRAPHIC) — 8KB
• 0001301787-24-000032.txt ( ) — 5432KB
• bxc-20240928.xsd (EX-101.SCH) — 34KB
• bxc-20240928_cal.xml (EX-101.CAL) — 78KB
• bxc-20240928_def.xml (EX-101.DEF) — 108KB
• bxc-20240928_lab.xml (EX-101.LAB) — 486KB
• bxc-20240928_pre.xml (EX-101.PRE) — 321KB
• bxc-20240928_htm.xml (XML) — 770KB

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 5 Notes to Condensed Consolidated Financial Statements 6 Note 1 - Basis of Presentation 6 Note 2 - Inventories 7 Note 3 - Goodwill and Intangible Assets , net 8 Note 4 - Revenue Recognition 8 Note 5 - Debt and Finance Lease Obligations 9 Note 6 - Net Periodic Pension Cost (Benefit) 10 Note 7 - Share-Based Compensation 11 Note 8 - Leases 11 Note 9 - Commitments and Contingencies 14 Note 10 - Accumulated Other Comprehensive Loss 14 Note 11 - Income Taxes 15 Note 12 - Earnings Per Share and Stockholders' Equity 15 Note 13 - Fair Value Disclosures 16

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 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 27

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 27

Other Information

Item 5. Other Information 27

Exhibits

Item 6. Exhibits 28

Signatures

Signatures 29 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 amounts) (Unaudited) Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales $ 747,288 $ 809,981 $ 2,241,895 $ 2,423,852 Cost of products sold 621,619 670,735 1,866,101 2,015,264 Gross profit 125,669 139,246 375,794 408,588 Operating expenses (income): Selling, general, and administrative 92,210 91,354 272,913 271,278 Depreciation and amortization 9,530 8,089 29,083 23,758 Amortization of deferred gains on real estate ( 984 ) ( 984 ) ( 2,952 ) ( 2,952 ) Other operating expenses, net 888 1,131 1,210 5,240 Total operating expenses 101,644 99,590 300,254 297,324 Operating income 24,025 39,656 75,540 111,264 Non-operating expenses: Interest expense, net 4,619 5,577 14,044 19,575 Settlement of defined benefit pension plan ( 2,226 ) — ( 2,226 ) — Other expense, net — 594 — 1,782 Income before provision for income taxes 21,632 33,485 63,722 89,907 Provision for income taxes 5,616 9,103 15,878 23,247 Net income $ 16,016 $ 24,382 $ 47,844 $ 66,660 Basic earnings per share $ 1.88 $ 2.72 $ 5.54 $ 7.39 Diluted earnings per share $ 1.87 $ 2.71 $ 5.53 $ 7.38 Comprehensive income: Net income $ 16,016 $ 24,382 $ 47,844 $ 66,660 Other comprehensive income: Amortization of unrecognized pension gain, net of tax — 225 — 689 Other — — — ( 22 ) Total other comprehensive income — 225 — 667 Comprehensive income $ 16,016 $ 24,607 $ 47,844 $ 67,327 See accompanying Notes. 1 Table of Contents BLUELINX HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) September 28, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 526,281 $ 521,743 Receivables, less allowances of $ 3,244 and $ 3,398 , respectively 278,049 228,410 Inventories, net 340,541 343,638

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View this 10-Q filing on SEC EDGAR