BlueLinx Holdings Posts 58% Year-Over-Year Sales Increase in 1Q

BlueLinx also reported a gross profit of $180 million compared to $93 million in the prior year period.
BlueLinx

BlueLinx Holdings Inc. (NYSE: BXC), Marietta, Georgia, reported net sales of $1 billion in the first quarter compared to $662 million in the same quarter a year ago, which marked a 58% year-over-year increase. BlueLinx also reported a gross profit of $180 million  compared to $93 million in the prior year period.

First quarter net sales for specialty products, which includes products such as engineered wood, cedar, molding, siding, metal products and insulation, accounted for $563 million of net sales in the period, up from $421 million in the prior year period. BlueLinx said the $142 million improvement year-over-year was primarily the result of price increases.

“The ongoing supply-demand imbalances for many of our products contributed to further price escalations during the first quarter, a trend that is continuing in the second quarter,” said President and CEO Mitch Lewis. “We are a beneficiary of these price escalations, which are a key near-term driver of improved margin realization and profitability, while remaining focused on preemptive actions to help mitigate the impact of downside commodity price risk.”

BlueLinx announced last month that Lewis will step down as will step down as president and CEO of the company on June 7. Dwight A.K. Gibson will take over as president and CEO on the same day that Lewis leaves the company.

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.