Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q3 2020 Earnings Presentation
19 slides from Bluelinx's earnings presentation, Oct 28, 2020
Slide 1: Third Quarter 2020 Results Conference Call Presentation
Third QuarterDivider 2020 slide Results Conference Call Presentation 29 September, 2020 October 29, 2020
Slide 2: Safe Harbor Statement
Safe Harbor Statement Note to Our Investors 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 w
Slide 3: Executive Summary Third Quarter 2020
Executive Summary Third Quarter 2020 Market Conditions Company Performance • Single-family residential housing remains strong. Single-family residential housing • Record third quarter results. Operational emphasis coupled with recovering demand remains strong, supported by low interest rates, signif
Slide 4: Management Priorities
Management Priorities Focused on organic revenue growth, margin expansion, cost reduction and deleveraging Create sustained organic revenue growth Generate sustained margin expansion through national account growth, product through improved logistics, administrative category emphasis and local marke
Slide 5: Elevated Commodity Prices a Third Quarter Tailwind
Elevated Commodity Prices a Third Quarter Tailwind Commodity Prices began to decline in October Framing Lumber Composite Index Wood-based commodity prices As of October 2020(1) began rising sharply in May 2020 and continued through $1,000 September $800 Oct-20 framing lumber prices were 91% above th
Slide 6: Acceleration In Single-Family Housing Demand
Acceleration In Single-Family Housing Demand We are highly correlated to single-family housing start (SFHS) activity Total U.S. Single Family Housing Starts Total U.S. Monthly Single-Family Residential Home Supply Builders’ Confidence Index Housing starts in thousands(1) Months of inventory(2) reach
Slide 7: Growth In Residential Repair & Remodel Activity
Growth In Residential Repair & Remodel Activity U.S. Installed base of more than 124 million homes Total Installed Base of U.S. Homes, Including Renter and U.S. Private Residential Construction Put-In-Place Remodeling buoyed by DIY Owner-Occupied Homes Dollars in millions(2) Homes in millions(1) mai
Slide 8: 3Q20 Key Financial Indicators
3Q20 Key Financial Indicators Significant year-over-year growth in net sales, gross profit, net income and adjusted EBITDA Total Net Sales Total Gross Profit Dollars in millions Dollars in millions $2,696 $2,845 $436 $355 $871 $159 $679 $94 3Q19 3Q20 TTM 3Q19 TTM 3Q20 3Q19 3Q20 TTM 3Q19 TTM 3Q20 Tot
Slide 9: 3Q20 Key Financial Indicators: Margin Expansion
3Q20 Key Financial Indicators Margin expansion driven by improved price realization and disciplined cost management Gross Margin Operating Margin Total Gross Profit / Total Net Sales Operating Income (Loss) / Total Net Sales 18.3% 9.4% 15.3% 13.8% 13.2% 4.0% 0.9% 1.0% 3Q19 3Q20 TTM 3Q19 TTM 3Q20 3Q1
Slide 10: Specialty products performance
Specialty products performance Gross margins for specialty products continue to improve Specialty Products Sales Dollars in millions Specialty products net sales of $496 million, 57% of 3Q20 total $482 $496 net sales $442 $453 $449 $398 $421 Specialty products gross profit of $86 million, increased
Slide 11: Structural products performance
Structural products performance Broad-based net sales growth, margin expansion across both structural and specialty groups Structural Products Sales Structural product net sales of Dollars in millions $375 $375 million, 43% of total 3Q20 net sales $250 $225 $226 $241 $197 $215 Third quarter impact o
Slide 12: Targeted Reduction In Operating Working Capital
Targeted Reduction In Operating Working Capital Disciplined operating working capital management supports improved financial strength Operating Working Capital Management Days Sales of Inventory (DSI) Strong working capital performance; Dollars in millions(1) Number of Days overall working capital i
Slide 13: Significant Reduction In Bank Debt Outstanding
Significant Reduction In Bank Debt Outstanding Strong free cash flow and sale leaseback transactions supported $181 million TTM reduction in bank debt Reduced Bank Debt By Nearly 50% since 2Q18 Reduced bank debt outstanding Dollars in millions(1) by $181 million over the last ABL Term Loan year; ban
Slide 14: Significant Improvement in Liquidity and Net Leverage
Significant Improvement in Liquidity and Net Leverage Excess availability, including cash on hand, of $202 million; total net leverage improved to 4.1x Excess Availability and Cash on Hand Federal Deferred Tax Assets (NOLs) Dollars in millions(1) Dollars in millions Excess availability and cash on h
Slide 15: Appendix
Divider slide Appendix29 September, 2020
Slide 16: Non-GAAP Measures
Non-GAAP Measures BlueLinx reports its financial results in accordance with GAAP, but we also believe that presentation of certain non-GAAP measures may be useful to investors and may provide a more complete understanding of the factors and trends affecting the business than using reported GAAP resu
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation 16 -16-
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation 17 -17-
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation 18 -18-