Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q3 2017 Earnings Presentation
21 slides from Bluelinx's earnings presentation, Nov 2, 2017
Slide 1: Third Quarter 2017 Earnings Webcast
BlueLinx Third Quarter 2017 Earnings Webcast
Slide 2: Forward-looking statements
2 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 that, although believed by us to be reasonable, are inherently u
Slide 3: Non-GAAP measures
3 BlueLinx reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company also believes that presentation of certain non-GAAP measures may be useful to investors. Any non-GAAP measures used herein are reconciled to the financial t
Slide 4: Key Emphasis for BlueLinx
Key Emphasis for BlueLinx BlueLinx America’s Building Products Distributor Third Quarter 2017 * Entered into new five year $335 million revolving credit facility * $75 million accordion feature * Successful Secondary Offering * Cerberus exits after 14 year investment * Stock price as of November 1,
Slide 5: BlueLinx Leverage with Sale Leasebacks
5 BlueLinx Leverage with Sale Leasebacks
Slide 6: Market Growth Potential
Market Growth Potential Single Family Housing Starts Vs. Population Growth = The company is well-positioned to a ices continue to grow market share as: sma 2,000 = Leading economic indicators em 1,500 continue to paint a favorable ea picture for building products 200 al > and its distribution wo TY
Slide 7: BlueLinx initiatives: sales growth, margins, real estate
BlueLinx America's Building Products Diseibutor BlueLinx America’s Building Products Distributor Emphasize Sales Growth = Emphasize local customer interaction to are = Develop and deploy ce practices in selling cesses = Prio treapenees markets and Rear = Mai Enhance Margins Emphasis on products and
Slide 8: Financial Overview
woe e BlueLinx “® Financial Overview
Slide 9: Executive Summary – Third Quarter 2017 Highlights
9 Executive Summary – Third Quarter 2017 Highlights • Net Sales of $479.3 million, up $3.3 million from Q3 2016 • Adjusted same-center net sales increased $15.3 million from Q3 2016 • Gross Profit of $60.5 million, up $0.5 million from Q3 2016 • Adjusted same-center gross profit increased $1.7 milli
Slide 10: Executive Summary – YTD 2017 Highlights
10 Executive Summary – YTD 2017 Highlights • Net Sales of $1.38 billion • Adjusted same-center net sales increased $47.5 million or 3.6% from the same period in 2016 • Gross Profit of $175.5 million • Adjusted same-center gross profit increased $5.9 million or 3.5% from the same period in 2016 • Gro
Slide 11: Adjusted Same-Center Net Sales
11 Adjusted Same-Center Net Sales • Adjusted same-center sales have increased during the quarter and YTD 2017 by $15.3 million or 3.3% and $47.5 million or 3.6%, respectively from the same period last year • Same-center sales increased during the third quarter, largely led by our structural products
Slide 12: Deleveraging the Business
12 Delevering the Business • Mortgage and revolving credit facility decreased by $44.4 million and $5.4 million, respectively, from this period last year
Slide 13: Appendix
BlueLinx °e Appendix
Slide 14: Statements of Income
14 Statements of Income In thousands, except per share data (unaudited) 2017 2016 2017 2016 Q3 Q3 Q3 YTD Q3 YTD Net sales $ 479,318 $ 476,049 $ 1,381,927 $ 1,459,386 Cost of sales 418,773 415,999 1,206,402 1,284,354 Gross profit 60,545 60,050 175,525 175,032 Operating expenses (income): Selling, gen
Slide 15: Balance Sheets
15 Balance Sheets In thousands, except share data (unaudited) September 30, 2017 December 31, 2016 Assets: Current assets: Cash $ 5,590 $ 5,540 Receivables, less allowances of $2,738 and $2,733, respectively 173,748 125,857 Inventories, net 206,788 191,287 Other current assets 21,063 23,126 Total cu
Slide 16: Statements of Cash Flows
16 Statements of Cash Flows In thousands (unaudited) 2017 2016 Q3 Q3 Net cash used in operating activities $ (38,278 ) $ (170 ) Cash flows from investing activities: Property and equipment investments (241 ) (511 ) Proceeds from sale of assets 27,461 18,900 Net cash provided by investing activities
Slide 17: Adjusted EBITDA
17 Adjusted EBITDA In thousands 2017 2016 2017 2016 Q3 Q3 Q3 YTD Q3 YTD Net income $ 5,686 $ 15,008 $ 9,508 $ 5,720 Adjustments: Depreciation and amortization 2,249 2,220 6,865 7,091 Interest expense 5,670 6,105 16,280 19,562 Provision for income taxes 123 1,522 832 609 Gain from sales of property —
Slide 18: Comparable Same-Center Schedule
18 Comparable Same-Center Schedule $ in thousands 2017 2016 2017 2016 Q3 Q3 Q3 YTD Q3 YTD Net sales $ 479,318 $ 476,049 $ 1,381,927 $ 1,459,386 Less: non-GAAP adjustments — 12,024 — 124,915 Adjusted same-center net sales $ 479,318 $ 464,025 $ 1,381,927 $ 1,334,471 Adjusted year-over-year percentage
Slide 19: Debt Principal
19 Debt Principal $ in thousands 2017 2016 Q3 Q3 Change Revolving credit facilities - principal $ 217,708 $ 223,157 $ (5,449 ) Mortgage - principal 97,847 142,159 (44,312 ) Total $ 315,555 $ 365,316 $ (49,761 )
Slide 20: Operating Working Capital
20 Operating Working Capital $ in thousands 2017 2016 Q3 Q3 Change Current assets: Cash $ 5,590 $ 4,704 $ 886 Receivables, less allowance for doubtful accounts 173,748 163,388 10,360 Inventories, net 206,788 207,909 (1,121 ) Other current assets 21,063 25,176 (4,113 ) Total current assets $ 407,189
Slide 21: America's Building Products Distributor
moe eo BlueLinx “e America’s Building Products Distributor au [| Please reference our a Earnings Release and 10-Q = oy 4 =] available on our website { y be www.BlueLinxCo.com Zz