Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q3 2009 Earnings Presentation
20 slides from Bluelinx's earnings presentation, Nov 5, 2009
Slide 1: BlueLinx Quarterly Review 3rd Quarter 2009
BlueLinx Quarterly Review 3rd Quarter 2009
Slide 2: Forward-Looking Statement Safe Harbor
BlueLinx Holdings Inc. Forward-Looking Statement Safe Harbor - This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our management tha
Slide 3: 3rd Quarter Highlights
3rd Quarter Highlights 3rd Quarter Highlights Housing Starts Declined 31% from the same period last year Declined 31% from the same period last year Prices Average structural prices declined 21.4% from 3Q '08 to 3Q '09 Average structural prices declined 21.4% from 3Q '08 to 3Q '09 Unit Volume Total
Slide 4: Introduction and Financial Review
Doug Goforth Chief Financial Officer and Treasurer Introduction and Financial Review
Slide 5: Quarterly Revenue
Quarterly Revenue 4Q '05 1Q '06 2Q '06 3Q '06 4Q '06 1Q '07 2Q '07 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 Specialty 539.5 580 603.3 553.5 460 456.5 500.8 462.9 381.5 354 402.8 375.9 278.7 233.9 250 257.9 Structural 815.2 813.4 798.7 666.6 509.2 518.9 598.1 571.4 409.6 373 442
Slide 6: YTD 2009 Results
YTD 2009 Results revenue YTD '08 2278.2 YTD '09 1280 YOY $998.2 or 43.8% YTD '08 YTD '09 GM % 0.118 0.116 YOY 20 bp Operating Expense YTD '08 250.7 YTD '09 159.3 YTD '08 YTD '09 Net Income -6.6 -73.5 EPS -0.21 -2.37 YOY $91.3 or 36.4%
Slide 7: Cash Flows
Cash Flows BXC used $6.3 million in operating cash flow for the quarter Three Months Ended October 3, 2009 Unaudited Direct Method (in million's) (in million's) (in million's) (in million's)
Slide 8: Debt
Debt Revolver ($500 million facility) Matures May 7, 2011 $191 million excess availability as of October 3, 2009 Dividend restrictions apply if excess availability is less than $70 million No financial performance covenants provided excess borrowing availability is greater than $40 million Capital S
Slide 9: Cash Cycle
Cash Cycle TTM Cash Cycle days at 52 decreased 1 day sequentially and were flat compared to the prior year quarter 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 Inv 45.8 44.7 46.3 46.3 45.3 43.9 44 44.7 45.1 A/R 34.7 32.9 34.5 35.3 34.7 32.4 33 35.6 35.9 A/P & OD's -28.7 -27.3 -28.3
Slide 10: Business Review
George Judd Chief Executive Officer Business Review
Slide 11: 3rd Quarter Focus
3rd Quarter Focus Continued strengthening of customer and supplier relationships Gross margins Cost discipline Technology Long term strategic objectives: Profitably grow specialty revenues to 60+% of total sales Profitably manage structural Profitably outgrow the market over the long term Remarks
Slide 12: Appendix
Appendix TOPIC PAGE Revenues by Quarter 13 Unit Volume by Quarter 14 Gross Margin by Quarter 15 Profit and Loss Statement by Quarter 16 Gross Margin % Analysis 17 Channel Mix Analysis 18 Structural Product Price Trends 19 Reconciliation of GAAP to Non-GAAP 20
Slide 13: Revenues by Quarter
Revenues by Quarter Revenues by Quarter
Slide 14: Unit Volume by Quarter
Unit Volume by Quarter Unit Volume by Quarter
Slide 15: Gross Margin by Quarter
Gross Margin by Quarter Gross Margin by Quarter
Slide 16: Profit & Loss Statement by Quarter
Profit & Loss Statement by Quarter Profit & Loss Statement by Quarter
Slide 17: Gross Margin % Analysis
Gross Margin % Analysis Gross Margin % Analysis
Slide 18: Revenue Channel Mix Analysis
Revenue Channel Mix Analysis Revenue Channel Mix Analysis
Slide 19: Structural Products Price Trend
Structural Products Price Trend Source: Data from Random Lengths Publications, Inc., updated as of October 30, 2009 Source: Data from Random Lengths Publications, Inc., updated as of October 30, 2009 Source: Data from Random Lengths Publications, Inc., updated as of October 30, 2009 Source: Data fro
Slide 20: Reconciliation of GAAP to Non-GAAP
Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP