Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q3 2010 Earnings Presentation
22 slides from Bluelinx's earnings presentation, Nov 4, 2010
Slide 1: BlueLinx Quarterly Review 3rd Quarter 2010
1 BlueLinx Quarterly Review3rd Quarter 2010
Slide 2: Forward-Looking Statement Safe Harbor
2 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 t
Slide 3: 3rd Quarter Highlights
3 3rd Quarter Highlights 3rd Quarter Highlights Revenue Up 3.4% to $464.7 million Up 3.4% to $464.7 million Housing Starts Decreased 0.8% from the same period last year Decreased 0.8% from the same period last year Prices Average benchmark wood-based structural prices increased 11.9% from 3Q '09 to
Slide 4: Introduction and Financial Review
4 Doug GoforthChief Financial Officer and Treasurer Introduction and Financial Review
Slide 5: Quarterly Revenue
5 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 4Q '09 1Q '10 2Q '10 3Q '10 Specialty 539.5 580 603.3 553.5 460 456.5 500.8 462.9 381.5 354 402.8 375.9 278.7 233.9 250 257.9 206.2 233.1 286 264.3 Structural 815.2 813
Slide 6: 2010 YTD Results
6 2010 YTD Results revenue YTD '09 1280 YTD '10 1436.5 YTD '09 YTD '10 GM % 0.116 0.116 Operating Expense YTD '09 159.3 YTD '10 178 YTD '09 YTD '10 EBITDA 1.2 -1.8 Significant Special Items YTD '09 YTD '10 G-P contract gain $17.6 - Gain on real estate $4.4 - Facility consl severance ($1.9) (0.3) Lit
Slide 7: Cash Flows
7 Cash Flows BXC generated $33 million in operating cash flow for the quarter Unaudited Direct Method (in million's) (in million's) (in million's)
Slide 8: Debt
8 Debt Revolver $143 million excess availability as of October 2, 2010LIBOR plus 3.75% as of October 2, 2010$400 million facility with additional $100 million uncommitted accordion facilityMatures January 7, 2014No financial performance covenants provided Excess Availability is more than the greater
Slide 9: Cash Cycle
9 Cash Cycle TTM Cash Cycle days at 51, up 2 days sequentially and down 1 day compared to the prior year quarter 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 Inv 45.8 44.7 46.3 46.3 45.3 43.9 44 44.7 45.1 43.9 43.9 43.2 44.2 A/R 34.7 32.9 34.5 35.3 34.7
Slide 10: Business Review
10 George JuddChief Executive Officer Business Review
Slide 11: 3rd Quarter Focus and Remarks
11 3rd Quarter focusCustomer careRevenue growthCost disciplineCash flowLong term strategic objectives:Profitably grow specialty revenues to 60+% of total salesProfitably manage structuralProfitably outgrow the market over the long term Remarks
Slide 12: Appendix
Appendix Topic PAGE Proft and Loss Statement by Quarter 13 Revenues by Quarter 14 Channel Mix Analysis 18 Unit Volume by Quarter 16 Gross Margin by Quarter 17 Gross Margin % Analysis 18 Operating Expense by Quarter 19 Structural Product Price Trends 20 Reconciliation of GAAP Debt to Non-GAAP Net Deb
Slide 13: Profit & Loss Statement by Quarter
13 Profit & Loss Statement by Quarter Profit & Loss Statement by Quarter
Slide 14: Revenues by Quarter
14 Revenues by Quarter Revenues by Quarter
Slide 15: Revenue Channel Mix Analysis
15 Revenue Channel Mix Analysis Revenue Channel Mix Analysis
Slide 16: Unit Volume by Quarter
16 Unit Volume by Quarter Unit Volume by Quarter
Slide 17: Gross Margin by Quarter
17 Gross Margin by Quarter Gross Margin by Quarter
Slide 18: Gross Margin % Analysis
18 Gross Margin % Analysis Gross Margin % Analysis
Slide 19: Operating Expense by Quarter
19 Operating Expense by Quarter Operating Expense by Quarter
Slide 20: Structural Products Price Trend
20 Structural Products Price Trend Source: Data from Random Lengths Publications, Inc., updated as of October 29, 2010 Source: Data from Random Lengths Publications, Inc., updated as of October 29, 2010 Source: Data from Random Lengths Publications, Inc., updated as of October 29, 2010 Source: Data
Slide 21: Reconciliation of GAAP to Non-GAAP
21 Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP
Slide 22: Reconciliation of GAAP to Non-GAAP
22 Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP