The 2020 Mid-Year Economic Update_long

BlueLinx Sales Up 28.3% in 3Q

Building materials distributor BlueLinx Holdings also reported a profit of $55.1 million for the quarter.
BlueLinx Holdings

BlueLinx Holdings Inc., (NYSE: BXC), Atlanta, reported sales for the third quarter of $871 million, an increase of 28.3% year-over-year. The company reported a profit of $55.1 million, compared to a loss of $7 million in the prior-year quarter.

For the first nine months, the company reported sales of $2.2 billion, up 10.3% from the same period in 2019. BlueLinx reported a profit of $61 million, compared with a loss of $7.5 million in the same period last year.

“This was a transformative quarter for BlueLinx as we took advantage of our operational improvements over the last year to maximize our financial performance,” said Mitch Lewis, president and CEO. “Although the COVID-19 pandemic continued to affect our business and the broader economy, we drove significant increases in net sales as well as historical levels of net income and Adjusted EBITDA by closely managing an improving housing market and an unprecedented inflationary environment in our wood-based structural product markets. We remain focused on our strategic imperatives, including organic sales growth, margin expansion and disciplined working capital management. We also continue to support our employees and our country’s essential infrastructure needs during the COVID-19 pandemic through strong partnerships with both our customers and suppliers.”

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