Published on 20 Feb 2024 on GuruFocus.com via Yahoo Finance
BlueLinx Holdings Inc (BXC) Reports Mixed 2023 Financial Results Amid Market Challenges
Net Sales: Decreased by 16.0% in Q4 and 29.5% for the full year 2023.Gross Profit: Dropped by 21.6% in Q4, with a gross margin of 16.6%.Net Income: Reported a net loss of $18 million in Q4 due to a one-time pension plan charge.Adjusted EBITDA: $36 million in Q4, representing 5.1% of net sales.Free Cash Flow: Generated $67 million in Q4 and $279 million for the full year.Liquidity and Debt: Strong liquidity at $868 million and low net leverage ratio of 0.3x.Share Repurchases: Completed $42 million in share repurchases, reducing shares outstanding by 6%.
Warning! GuruFocus has detected 6 Warning Sign with MA.
On February 20, 2024, BlueLinx Holdings Inc (NYSE:BXC) released its 8-K filing, detailing the financial results for the fourth quarter and full year ended December 30, 2023. The company, a leading U.S. wholesale distributor of building products, faced a challenging market environment, which was reflected in its mixed financial performance.