Overview
Bluelinx Q2 sales rise 2% yr/yr but miss analyst expectations
Adjusted net income and EBITDA miss analyst estimates, per LSEG data
Co announces new $50 mln share repurchase authorization
Outlook
Bluelinx expects Q3 specialty product gross margin between 17% and 18%
Bluelinx sees Q3 structural product gross margin between 8% and 9%
Result Drivers
SPECIALTY PRODUCTS - Sales increased due to higher volumes across several categories, offset by price deflation
STRUCTURAL PRODUCTS - Sales growth driven by increased lumber prices and volumes, despite panel price declines
MARGIN PRESSURE - Specialty product margins declined due to competitive pricing environment, while structural margins benefited from lumber price increases
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Miss | $780 mln | $782 mln (4 Analysts) |
Q2 Adjusted Net Income | Miss | $5.60 mln | $7.64 mln (4 Analysts) |
Q2 Net Income | $4.30 mln | ||
Q2 Adjusted EBITDA | Miss | $26.80 mln | $27 mln (4 Analysts) |
Q2 Free Cash Flow | -$36 mln | ||
Q2 Gross Profit | $120 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction supplies & fixtures peer group is "buy"
Wall Street's median 12-month price target for Bluelinx Holdings Inc is $87.50, about 10.6% above its July 28 closing price of $78.25
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 16 three months ago
Press Release: ID:nBwby24zta
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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