Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q4 2025 Earnings Presentation
27 slides from Bluelinx's earnings presentation, Feb 25, 2026
Slide 1: BlueLinx Q4 and Full Year 2025 Results
BlueLinx Q4 and Full Year 2025 Results Delivering What Matters February 25, 2026 © BlueLinx 2026. All Rights Reserved. 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements. Forward-looking statements include, without limitation, any statement that predicts, forecasts, indicates or implies future results, performance, liquidity levels or achievements, and may contain the words “believe,” “antic
Slide 3: Opening Remarks
Opening Remarks Shyam Reddy President & CEO 3
Slide 4: BlueLinx Strategic Priorities
BLUELINX STRATEGIC PRIORITIES BlueLinx: Delivering What Matters 4
Slide 5: Delivering What Matters
DELIVERING WHAT MATTERS ▪ FY 2025 Net sales of $3.0B q solid ✓ Delivered Delivered full yearstrong fullgiven 2025 results yearthe2022 results challenging environment ▪ FY 2025 Adjusted EBITDA of $83M (1) ▪ Q4 2025 Net sales of $716M ✓ Solid Q4 results highlighted by higher volumes and solid gross ma
Slide 6: Full Year 2025 Results
FULL YEAR 2025 RESULTS Explosive profitable growth with a highly engaged team ◼ Net sales of $3.0B, up slightly year-over-year ❑ Full year volume increases offset by market-related pricing pressures ◼ Gross profit of $452M, down 7.7% year-over-year ❑ 15.3% of net sales ❑ 82% of gross profit from spe
Slide 7: U.S. Housing Industry
U.S. HOUSING INDUSTRY ◼ New home starts continue to be volatile ❑ Labor constraints, inflation, consumer confidence all playing a role ❑ Policy uncertainty also contributing ◼ Home affordability remains challenging ❑ Mortgage rates off historic highs, but still elevated ❑ Home price appreciation ◼ R
Slide 8: Financial Review
Financial Review Kelly Wall SVP, Chief Financial Officer and Treasurer 8
Slide 9: Fourth Quarter 2025 Results
FOURTH QUARTER 2025 RESULTS $ millions, except per share data and Q4 Q4 Variance leverage ratios 2025 2024 Net Sales $716 $711 0.7% Q4 Commentary Gross Profit $113 $113 (0.6)% ◼ Net Sales increased 0.7% to $716M Gross Margin % 15.7% 15.9% (20) bps ❑ Specialty product sales up 4% ❑ Structural product
Slide 10: Specialty Products Q4 2025 Results
SPECIALTY PRODUCTS Q4 2025 RESULTS $ in millions Q4 Commentary ◼ Net sales of $505M, up 4% ❑ Driven mainly by volume increases and Disdero ❑ Specialty is approximately 70% of total net sales ◼ Gross profit of $92M, up 3% ❑ Specialty gross profit 81% of total gross profit ◼ Gross margin of 18.1%, dow
Slide 11: Structural Products Q4 2025 Results
STRUCTURAL PRODUCTS Q4 2025 RESULTS $ in millions Q4 Commentary ◼ Net sales of $211M, down 7% ❑ Driven by lower pricing partially offset by higher volumes ❑ Year-over-year average pricing for commodities: 12% decrease in average price of lumber 20% decrease in average price of panels ◼ Gross pro
Slide 12: Full Year 2025 Results
FULL YEAR 2025 RESULTS $ in millions, except per share data, FY FY Variance leverage ratios, and Net Sales 2025 2024 Net Sales $3.0 $3.0 —% ($ billions) FY 24 Commentary Gross Profit $452 $489 (8)% ◼ Net Sales of $3.0B Gross Margin % 15.3% 16.6% (130) bps ❑ Specialty product sales up slightly ❑ Stru
Slide 13: Balance Sheet
BALANCE SHEET ($ millions) Outstanding Debt and Finance Leases Debt Maturity Schedule $300 Note: debt maturity schedule does not include finance lease obligations Net Leverage (1) ◼ At the end of Q4 2025: ▪ Cash and Cash Equivalents of $386M ▪ Total available liquidity of $726M ▪ Net debt of $(5) mi
Slide 14: Working Capital and Free Cash Flow
WORKING CAPITAL AND FREE CASH FLOW Net Working Capital Management(1) FY 25 Free Cash Flow Walk * $ in millions $ in millions 1. Net working capital includes accounts receivable, inventory, and accounts payable; Return on Working Capital is calculated by dividing trailing twelve month (TTM) Adjusted
Slide 15: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK GUIDING PRINCIPLES ◼ Maintain strong balance sheet and OPERATING CASH FLOW FREE CASH FLOW financial stability ◼ Long-term net leverage could increase to at or around 2.0x when EXPAND INVEST IN THE SHARE considering growth BUSINESS GEOGRAPHIC REPURCHASES FOOTPRINT ◼ Inves
Slide 16: Q&A
Q&A BLUELINX 6
Slide 17: Appendix
Appendix BLUELINX ”
Slide 18: Macro Trends
MACRO TRENDS Total U.S. Single Family Housing Starts (SFHS) Housing starts in thousands(1) LIRA Remodeling Activity Index TTM Moving Total - Dollars in billions(2) Starts expected to be around 20-year average and well above 2009-2011 levels Remodeling spend expected to improve slightly in 2026 20-ye
Slide 19: Wood-Based Commodity Price Trends
WOOD-BASED COMMODITY PRICE TRENDS Framing Lumber Composite Index $/mbf, Quarterly Average Price(1) As of December 2025 Average Q4 25 lumber prices decreased 12% year-over-year and decreased 8% from Q3 25 Structural Panel Composite Index $/msf, Quarterly Average Price(1) As of December 2025 Average Q
Slide 20: Non-GAAP Measures and Supplemental Financial Information
Non-GAAP Measures and Supplemental Financial Information The Company reports its financial results in accordance with GAAP. The Company also believes that presentation of certain non-GAAP measures may be useful to investors and may provide a more complete understanding of the factors and trends affe
Slide 21: Supplementary Financial Information
Supplementary Financial Information Net sales, gross profit dollars, gross profit percentages, sales mix, and gross profit mix by product category by fiscal quarter, Q1 2023 – Q4 2025 In millions where dollars are presented Fiscal Quarter 4Q 2025 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 20
Slide 22: Non-GAAP Reconciliation / supplemental financial information
Non-GAAP Reconciliation / supplemental financial information Adjusted Net Income and Adjusted Diluted EPS reconciliation for fiscal quarters Q1 2023 - Q4 2025 (unaudited) In thousands, except EPS amounts. Rounded figures in this table may not agree to presentations in other formats we have published
Slide 23: Non-GAAP Reconciliation
Non-GAAP Reconciliation The following schedule reconciles Net cash provided by operating activities to Free cash flow (non-GAAP) for Q1 2023 to Q4 2025 (unaudited) In millions. Rounded figures in this table may not agree to presentations in other formats we have published such as earnings releases,
Slide 24: Non-GAAP Reconciliation
Non-GAAP Reconciliation Net Working Capital by Fiscal Quarter Q1 2023 – Q4 2025 (unaudited) $ amounts in millions Fiscal Quarter 4Q 2025 3Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 4Q 2023 3Q 2023 2Q 2023 1Q 2023 Accounts receivables, net $218 $269 $279 $276 $226 $278 $274 $288 $228 $298
Slide 25: Non-GAAP Reconciliation / supplemental financial information
Non-GAAP Reconciliation / supplemental financial information Adjusted EBITDA reconciliation by fiscal quarter, Q1 2023 – Q4 2025 (unaudited) In millions where dollars are presented. Some dollar amounts round to less than $1 million and therefore no amount is presented in the table below. Fiscal Quar
Slide 26: Non-GAAP Reconciliation
Non-GAAP Reconciliation Twelve-Month Trailing Adjusted EBITDA reconciliation by Fiscal Quarter, Q1 2023 – Q4 2025 (unaudited) In millions $. Some dollar amounts round to less than $1 million and therefore no amount is presented in the table below. Twelve-Month Trailing as of the End of Fiscal Quarte
Slide 27: Non-GAAP Reconciliation / Supplemental Financial Information
Non-GAAP Reconciliation / Supplemental Financial Information The following schedule reconciles Total debt and finance leases to: Net debt (non-GAAP) and to Net debt excluding finance lease liabilities for real property (non-GAAP). The calculations of Net leverage ratio (non-GAAP) and Net leverage ra