BlueLinx Sales Up 57.7% in 2018 - Modern Distribution Management

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BlueLinx Sales Up 57.7% in 2018

Fourth-quarter sales up 55.1%.

BlueLinx Holdings Inc. (NYSE: BXC), Atlanta, Georgia, reported sales for 2018 of $2.9 billion, a 57.7% increase from the previous year. The company reported a loss of $48.1 million for the year, compared to a profit of $63 million a year ago.

Fourth-quarter sales were $672.6 million, an increase of 55.1% compared to the same period a year earlier. The company reported a loss of $16.2 million, compared to a profit of $53.5 million the same quarter a year ago.

“This was a transformative year for BlueLinx as we acquired Cedar Creek and made significant progress with our integration efforts over the course of the year. We are pleased that our integration efforts realized through December 2018 should result in annual synergies exceeding $30 million in 2019,” said Mitch Lewis, President and Chief Executive Officer. “While our fourth quarter financial results reflect a deflationary commodity environment coupled with a slow-down in single family housing starts, we remain confident in reaching annual run-rate synergies of at least $50 million as we continue integrating our Company to capture market opportunities.”

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