Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Investor Day (June 2022)
85 slides from Bluelinx's investor day presentation, Jun 2, 2022
Slide 1: A Whole New Blue: BlueLinx Investor Day Presentation
A Whole New Blue BlueLinx Investor Day Presentation June 2, 2022
Slide 2: Safe Harbor Statement
2 0 2 2 I N V E S T O R D AY | 2 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 co
Slide 3: Today's Speakers
2 0 2 2 I N V E S T O R D AY | 3 Today’s Speakers Dwight Gibson Kelly Janzen Kevin Henry Josh Teteak Mike Wilson PRESIDENT & CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF PEOPLE OFFICER CHIEF SUPPLY CHAIN OFFICER SVP, PRODUCT MANAGEMENT
Slide 4: Agenda
2 0 2 2 I N V E S T O R D AY | 4 Agenda 1 Dwight Gibson President and Chief Executive Officer A Whole New Blue 2 Mike Wilson SVP, Product Management Accelerating Growth 3 Josh Teteak Chief Supply Chain Officer Optimizing Productivity 4 Kevin Henry Chief People Officer Driving Performance 5 Kelly Jan
Slide 5: BlueLinx: A Whole New Blue
2 0 2 2 I N V E S T O R D AY | 5 BlueLinx: A Whole New Blue Delighting Customers, Elite Execution, Performance Driven 1 2 3Attractive market BlueLinx is well positioned to grow Leveraging growth >$40b addressable market 5%+ long-term growth rate Fragmented competition Optimizing productivity
Slide 6: BlueLinx: A Compelling Investment
2 0 2 2 I N V E S T O R D AY | 6 BLUELINX / a compelling investment A leading, U.S. two-step building products distributor with scale Comprehensive product suite with favorable specialty mix Balanced end market exposure across repair & remodel and new homes Strong balance sheet: ~1x net leve
Slide 7: America's Building Products Distributor
2 0 2 2 I N V E S T O R D AY | 7 BLUELINX / America’s Building Products Distributor TEAM ~2,200 LOCATIONS 60+ SUPPLIERS ~750 CUSTOMERS ~15,000 FOUNDED 1954 HEADQUARTERED ATLANTA 2021 SALES BY REGION Serving 46 states with locations in of the highest growth metropolitan statistical areas (MSAs) (1) 7
Slide 8: America's Building Products Distributor: Sales and Financial Results
2 0 2 2 I N V E S T O R D AY | 8 BLUELINX / America’s Building Products Distributor SALES BY END MARKET 2021 SALES BY PRODUCT 2021 FINANCIAL RESULTS SALES $4.3b Adj. EBITDA $464m GROSS PROFIT % 18% Adj. EBITDA % 11% FREE CASH FLOW $131m AVAILABLE LIQUIDITY ~$420m Note: management’s estimate of 2019
Slide 9: 3-Year Financial History
2 0 2 2 I N V E S T O R D AY | 9 2019 2020 2021 Structural Products Sales Specialty Products Sales A WHOLE NEW BLUE / 3-year financial history $2.6b $3.1b $4.3b 2.7% 5.5% 10.8% Adj. EBITDA % Strong Financial Performance 27% sales CAGR 157% adjusted EBITDA CAGR 810 basis points of adjusted EBIT
Slide 10: Delivered Profitable Growth Over Past Six Quarters
2 0 2 2 I N V E S T O R D AY | 10 $865 $1,025 $1,308 $971 $973 $1,302 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Sales 4.5% 10.4% 12.7% 8.1% 11.5% 15.5% Adj. EBITDA % A WHOLE NEW BLUE / delivered profitable growth over past six quarters Increased focus on specialty products Disciplined pric
Slide 11: Macro Trends: Key Indicators Remain Solid Despite Rising Interest Rates
2 0 2 2 I N V E S T O R D AY | 11 MACRO TRENDS / key indicators remain solid despite rising interest rates - 500 1,000 1,500 2,000 20 0 0 20 0 1 20 0 2 20 0 3 20 0 4 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 E 20 23 E 20 24 E 20
Slide 12: Macro Trends: Hybrid Work and Record Home Equity Support Home Investment
2 0 2 2 I N V E S T O R D AY | 12 MACRO TRENDS / shift to hybrid work and record levels of home equity support home investment $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 O ct -8 0 A p r- 8 2 O ct -8 3 A p r- 8 5 O ct -8 6 A p r- 8 8 O ct -8 9 A p r- 91 O ct -9 2 A p r- 94 O ct -9 5 A p r- 97
Slide 13: North America's Preeminent Building Products Distributor
2 0 2 2 I N V E S T O R D AY | 13 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor Accelerating Growth Accelerating growth with our best customers and our best specialty products Optimizing Productivity Optimizing productivity thru distribution center optimization and proc
Slide 14: Accelerating Growth
2 0 2 2 I N V E S T O R D AY | 14 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor drive to 80% specialty product sales mix grow with our best customers penetrate strategic markets build on value added services North America’s Preeminent Building Products Distributor 80/20
Slide 15: Optimizing Productivity
2 0 2 2 I N V E S T O R D AY | 15 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor North America’s Preeminent Building Products Distributor champion best-in-class safety optimize distribution centers implement procurement excellence intensify working capital management
Slide 16: Driving Performance
2 0 2 2 I N V E S T O R D AY | 16 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor North America’s Preeminent Building Products Distributor built an exceptional leadership team cultivate a performance-based culture infuse high caliber capabilities achieve 85%+ associate en
Slide 17: Creating Value
2 0 2 2 I N V E S T O R D AY | 17 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor North America’s Preeminent Building Products Distributor deliver profitable growth sustain improved financial performance maintain strong financial position execute disciplined capital alloc
Slide 18: Built an Elite Executive Team and Added Critical Capabilities
2 0 2 2 I N V E S T O R D AY | 18 A WHOLE NEW BLUE / built an elite executive team and added critical capabilities proven leaders diverse backgrounds functional experts growth oriented performance driven BUILT AN ELITE EXECUTIVE TEAM Accelerating Growth: Chief Strategy and Corporate Deve
Slide 19: Managing to Drive Accountability and Performance
2 0 2 2 I N V E S T O R D AY | 19 A WHOLE NEW BLUE / managing to drive accountability and performance ASPIRATION & CURRENT YEAR PLAN CHECK PLAN DOADJUST PLAN ensure goal alignment and establish key performance indicators DO develop execution plans that use standard work and best practices; align inc
Slide 20: ESG Focus
2 0 2 2 I N V E S T O R D AY | 20 A WHOLE NEW BLUE / ESG focus ENVIRONMENT Focused on reducing carbon footprint Investing in energy efficient infrastructure SOCIAL Culture of belonging and safety Investing in our communities GOVERNANCE Accountable governance practices Annual evaluation o
Slide 21: Midterm Annualized Targets
2 0 2 2 I N V E S T O R D AY | 21 MIDTERM ANNUALIZED TARGETS Key Assumptions Price of lumber $450 75% Specialty mix 25% Structural mix 22% Specialty GM 10% Structural GM$ %VS ADJUSTED EBITDA % Expect specialty product sales volume and margin expansion Disciplined cost management 10%+ SALES ~$4.5
Slide 22: Accelerating Growth
2 0 2 2 I N V E S T O R D AY |2 0 2 2 I N V E S T O R D AY | 22 Accelerating Growth Mike Wilson, SVP, Product Management
Slide 23: Video
2 0 2 2 I N V E S T O R D AY | 23 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor VIDEO
Slide 24: Largest Pure Play Two-Step Building Products Distributor
2 0 2 2 I N V E S T O R D AY | 24 Large, national manufacturers of specialty and framing products Largest, pure play two-step building products distributor in the United States SUPPLIERS TWO-STEP DISTRIBUTOR Pro Dealers Home Centers Cooperatives Specialty, one-step distributors Industrials
Slide 25: BlueLinx Value Proposition
2 0 2 2 I N V E S T O R D AY | 25 ESSENTIAL ROLE / BlueLinx value proposition Limited sales team / resources Logistics in complex supply structure Inability to deliver partial truck loads Customer-centric, value-added services 600+ sales associates Extended sales and marketing support
Slide 26: Comprehensive Suite of Products and Value-Added Services
2 0 2 2 I N V E S T O R D AY | 26 ACCELERATING GROWTH / comprehensive suite of products and value-added services Value engineering Custom finishing Cut-to-spec Fabrication Remanufacturing Automated order processing Next day delivery Intermodal distribution Backhaul services VALUE-A
Slide 27: Geographic Footprint
2 0 2 2 I N V E S T O R D AY | 27 ACCELERATING GROWTH / geographic footprint Source: John Burns Real Estate Consulting May 2022 BlueLinx Locations BlueLinx has locations in ~75% of the fastest growing MSAs Notable areas of strength for BlueLinx: #3 market leader nationally for engineered wood prod
Slide 28: Strategic Partnerships with Market Leaders
2 0 2 2 I N V E S T O R D AY | 28 ACCELERATING GROWTH / strategic partnerships with market leaders 2021 SALES BY CUSTOMER 2021 SPEND BY SUPPLIER Note: includes co-ops Note: no individual customer or supplier comprises more than 10% of consolidated BlueLinx sales or product spend, respectively
Slide 29: Accelerating Growth
2 0 2 2 I N V E S T O R D AY | 29 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor North America’s Preeminent Building Products Distributor drive to 80% specialty product sales mix grow with our best customers penetrate strategic markets build on value added services 80/20
Slide 30: Growing with Our Best Suppliers and Customers
2 0 2 2 I N V E S T O R D AY | 30 DEVELOP MARKET-BASED GROWTH PLANS GEOGRAPHY AND END MARKET SECURE MORE SUPPLY STRATEGIC SUPPLIERS DEFINE GROWTH PRODUCTS 5 KEY SPECIALTY PRODUCTS TARGET BEST CUSTOMERS CREATE RAVING FANS SIMPLIFY AND SCALE WITH NATIONAL PARTNERS ACCELERATING GROWTH / growing with ou
Slide 31: Targeting 80% Specialty Product Sales Mix
2 0 2 2 I N V E S T O R D AY | 31 ACCELERATING GROWTH / targeting 80% specialty product sales mix FUTURE SALES MIX GOAL2021 SALES BY PRODUCT Engineered Wood Siding Moulding and Millwork Outdoor Living Industrial Products Fewer manufacturers (suppliers) Stickier with customers Require
Slide 32: Market Leading Brands and Exclusive Distribution Models
2 0 2 2 I N V E S T O R D AY | 32 We partner with market leading brands Our distribution models provide barriers of entry Description private label top 3 brand nationally exclusive distribution Trus Joist brand / northeast exclusive distribution vinyl siding dual distribution composite siding dual d
Slide 33: Growing with National Accounts
2 0 2 2 I N V E S T O R D AY | 33 ACCELERATING GROWTH / growing with national accounts $1.8B$2.5B 39% sales growth with national accounts in 2021 20 21 S a le s Home Centers Specialty DistributorsPro DealersCo-Ops Note: no individual customer comprises more than 10% of consolidated BlueLinx sales
Slide 34: Growing with National Accounts: Market Opportunity
2 0 2 2 I N V E S T O R D AY | 34 ACCELERATING GROWTH / growing with national accounts BlueLinx strategy: A deliberate focus on growing with our best customers Targeting growth in five key specialty product categories BlueLinx advantages: Broad product offering Customized programs Value
Slide 35: Lowe's Case Study
2 0 2 2 I N V E S T O R D AY | 35 ACCELERATING GROWTH / Lowe’s case study BLUELINX STRATEGIC ALIGNMENT Expanding local market team and engaging associates in stores Investing in our digital presence with Brand Advocate program and Pro Marketplace Cobranded consumer marketing Piloting next-da
Slide 36: Accelerating Growth Summary
2 0 2 2 I N V E S T O R D AY | 36 Targeting future sales mix at 80% specialty products Aligned to grow with our best customers Targeted initiatives to further penetrate strategic markets Concentrated efforts to build out value-added services ACCELERATING GROWTH / of high value specialty prod
Slide 37: Optimizing Productivity
2 0 2 2 I N V E S T O R D AY |2 0 2 2 I N V E S T O R D AY | 37 Optimizing Productivity Josh Teteak, Chief Supply Chain Officer
Slide 38: Optimizing Productivity Priorities
2 0 2 2 I N V E S T O R D AY | 38 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor North America’s preeminent building products distributor champion best-in-class safety optimize distribution centers implement procurement excellence intensify working capital management
Slide 39: Champion Best-in-Class Safety
2 0 2 2 I N V E S T O R D AY | 39 OPTIMIZING PRODUCTIVITY / champion best-in-class safety SAFETY IS GOOD BUSINESS; DEPLOYING PROVEN TOOLS TO PROACTIVELY ELIMINATE RISKS 3.48 2.73 2.07 2019 2020 2021 Total Recordable Incident Rate 2.82 1.45 0.78 2019 2020 2021 Days Away, Restricted or Transferred Not
Slide 40: Evolving Distribution Centers to Drive Operating Efficiency
2 0 2 2 I N V E S T O R D AY | 40 OPTIMIZING PRODUCTIVITY / evolving distribution centers to drive operating efficiency CAPITAL INVESTMENTS PROCESS STANDARDIZATION DIGITAL ENABLEMENT QUALITY ON-TIME, IN-FULL customers receive full order within timeframe promised SPEED ORDER CYCLE TIME operations fas
Slide 41: Investing to Modernize Locations and Support Growth
2 0 2 2 I N V E S T O R D AY | 41 OPTIMIZING PRODUCTIVITY / investing to modernize locations and support growth 2022E Capital Expenditures of ~$30M: Increase growth capacity Modernize rolling stock Upgrade distribution centers Enhance safety Improve digital capabilities $5 $4 $14 ~$30 20
Slide 42: Distribution Center Optimization
2 0 2 2 I N V E S T O R D AY | 42 OPTIMIZING PRODUCTIVITY / distribution center optimization variable procedures manual processes role variability locally focused PRIOR STATE standard procedures and tools digitally enabled process well-defined roles and clear career path effective, cross-branch coll
Slide 43: Procurement Excellence
2 0 2 2 I N V E S T O R D AY | 43 SIMPLIFY and ALIGN TO INCREASE VELOCITY AND LEVERAGE SCALE LEVERAGE SCALE OF PROCUREMENT Procurement Excellence capabilities analytics decisions IMPLEMENT SALES, INVENTORY & OPERATIONAL PLANNING (SIOP) with emphasis on: serving best customers five key sp
Slide 44: Optimizing Productivity Summary
2 0 2 2 I N V E S T O R D AY | 44 Prioritized achieving best-in-class safety Developed detailed plans to optimize our distribution centers Took initial steps on journey to procurement excellence Ramped up efforts intensify working capital management OPTIMIZING PRODUCTIVITY / to deliver world
Slide 45: Driving Performance
2 0 2 2 I N V E S T O R D AY |2 0 2 2 I N V E S T O R D AY | 45 Driving Performance Kevin Henry, Chief People Officer
Slide 46: Driving Performance Priorities
2 0 2 2 I N V E S T O R D AY | 46 A WHOLE NEW BLUE / North America’s Preeminent Building Products Distributor North America’s preeminent building products distributor built an exceptional leadership team cultivate a performance-based culture infuse high caliber capabilities achieve 85%+ associate en
Slide 47: Cultivating a Performance-Based Culture
2 0 2 2 I N V E S T O R D AY | 47 DRIVING PERFORMANCE / cultivating a performance-based culture RECOGNITION CELEBRATE SUCCESS ALIGNED INCENTIVES QUARTERLY BONUS PROGRAM OWNERSHIP MINDSET EMPLOYEE EQUITY AWARDS ENGAGEMENT ANNUAL AND PULSE SURVEYS Q1 2022 pulse +10% increase in associate favorability
Slide 48: Infusing High Caliber Capabilities
2 0 2 2 I N V E S T O R D AY | 48 DRIVING PERFORMANCE / infusing high caliber capabilities instituting workforce planning enhancing BXC employment brand expanding talent review process defining process standards designing curriculum aligned to strategy creating individual development pla
Slide 49: It Feels Like a Whole New Blue
2 0 2 2 I N V E S T O R D AY | 49 DRIVING PERFORMANCE / it FEELS like a Whole New Blue! Engaging the head, hearts and hands of our teammates: the energy is tangible culture matters - our walk and talk are changing teams having fun while delivering results the BlueCrew is on the move! Photo f
Slide 50: Creating Value
2 0 2 2 I N V E S T O R D AY |2 0 2 2 I N V E S T O R D AY | 50 Creating Value Kelly Janzen, Chief Financial Officer
Slide 51: Creating Long-Term Shareholder Value: Key Messages
2 0 2 2 I N V E S T O R D AY | 51 CREATING LONG-TERM SHAREHOLDER VALUE / key messages 1. Transformed the balance sheet: net leverage at ~1x and available liquidity >$400 million 2. Shifting sales mix to highest value specialty products 3. Continued disciplined wood-based commodity management 4. Defi
Slide 52: Transformed Balance Sheet
2 0 2 2 I N V E S T O R D AY | 52 TRANFORMED BALANCE SHEET / strong financial position to support value creation Note: see appendix for reconciliations to all non-GAAP measures No material debt maturities until 2029 Targeting ~$30m of capex in 2022 $100m share repurchase authorization: Commi
Slide 53: Three Year Performance
2 0 2 2 I N V E S T O R D AY | 53 THREE YEAR PERFORMANCE / significant growth and margin expansion ~60% of sales and over 70% of gross profit comes from specialty products 2019 2020 2021 Structural Products Sales Specialty Products Sales 2.7% 5.5% 10.8% Adj. EBITDA % Sales and Adjusted EBITDA % 2021
Slide 54: Foundations for Growth
2 0 2 2 I N V E S T O R D AY | 54 FOUNDATIONS FOR GROWTH / driving better execution and performance Recapitalized the debt structure, including issuing $300 million of senior secured notes, providing additional liquidity and financial flexibility Focusing sales and service efforts on our most strate
Slide 55: Strong Margin Performance
2 0 2 2 I N V E S T O R D AY | 55 $23 $73 $37 $72 $86 $6 $53 $1079% 20% 10% 16% 14% 2% 16% 20% Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Gross Profit Gross Profit % STRATEGIC GROWTH / strong margin performance Significant margin expansion driven by value- based pricing… …and improving mix
Slide 56: Return on Working Capital
2 0 2 2 I N V E S T O R D AY | 56 CREATING VALUE / >60% return on working capital over past 4 quarters Cash Cycle Days Number of Days (2) 65 62 48 54 50 45 60 63 58 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Operating Working Capital Management (1) $477 $431 $446 $471 $576 $636 $571 $733 $904 0% 1
Slide 57: Midterm Annualized Targets
2 0 2 2 I N V E S T O R D AY | 57 MIDTERM ANNUALIZED TARGETS ADJUSTED EBITDA % Expect specialty product sales volume and margin expansion Disciplined cost management 10%+ SALES ~$4.5B Expect specialty product sales growth to offset wood-based commodity deflation GROSS MARGIN 18%+ Mix shift t
Slide 58: Capital Allocation Framework
2 0 2 2 I N V E S T O R D AY | 58 INVEST IN THE BUSINESS STRATEGIC ACQUISITIONS SHARE REPURCHASES OPERATING CASH FLOW GUIDING PRINCIPLES Maintain strong balance sheet and financial stability Long-term net leverage could increase to at or around 3.0x when considering growth Invest in business t
Slide 59: Strategic, Disciplined Approach to M&A
2 0 2 2 I N V E S T O R D AY | 59 CREATING VALUE / strategic, disciplined approach to M&A DISCIPLINED DEAL EXECUTION Dedicated corporate development team bringing speed and discipline Multi-channel pipeline development aligned with strategic criteria EFFICIENT INTEGRATION Prudent pre-close ass
Slide 60: BXC is Undervalued
2 0 2 2 I N V E S T O R D AY | 60 Key Assumptions COMPELLING INVESTMENT / BXC is undervalued Public Company Average 12-Month Multiples Specialty Distribution >10x Building Products Distribution 8x 8x 10x 3x 4x 6x IMPLIED MARKET CAP / STOCK PRICE BlueLinx AS OF 5/27 2021 ADJ EBITDA $464M ~9.7M outsta
Slide 61: Creating Value Summary
2 0 2 2 I N V E S T O R D AY | 61 Well-positioned to deliver profitable growth Committed to sustaining improved financial performance Dedicated to maintaining a strong financial position Clearly defined framework for disciplined capital allocation CREATING VALUE / through profitable, sustain
Slide 62: A Compelling Investment
2 0 2 2 I N V E S T O R D AY | 62 A Compelling Investment Dwight Gibson, President and CEO
Slide 63: Shareholder Feedback Leads to Action
2 0 2 2 I N V E S T O R D AY | 63 volatility of wood-based commodity prices inconsistent execution share price undervalued undefined long-term growth strategy lack of long-term financial targets leverage too high reduced wood-based inventory by 68%*; focused growth on specialty products delivered si
Slide 64: Executive Summary
2 0 2 2 I N V E S T O R D AY | 64 Improved the quality and performance of our business Confident in our ability to meet our midterm financial targets Focused on accelerating growth, optimizing productivity and driving performance Closely monitoring the U.S. economic environment Even in a r
Slide 65: BlueLinx: A Whole New Blue
2 0 2 2 I N V E S T O R D AY | 65 BlueLinx: A Whole New Blue Delighting Customers, Elite Execution, Performance Driven 1 2 3Attractive market BlueLinx is well positioned to grow Leveraging growth >$40b addressable market 5%+ long-term growth rate Fragmented competition Optimizing productivit
Slide 66: Questions
2 0 2 2 I N V E S T O R D AY | 66 Questions
Slide 67: Executive Bios
2 0 2 2 I N V E S T O R D AY | 67 Executive Bios
Slide 68: Dwight Gibson, President and Chief Executive Officer
2 0 2 2 I N V E S T O R D AY | 68 Dwight Gibson PRESIDENT AND CHIEF EXECUTIVE OFFICER Mr. Gibson has served as our President, Chief Executive Officer, and as a member of our Board since June 2021. Prior to joining BlueLinx, Mr. Gibson was the Chief Commercial Officer of SPX FLOW, Inc. While at SPX F
Slide 69: Mike Wilson, Senior Vice President, Product Management
2 0 2 2 I N V E S T O R D AY | 69 Mike Wilson SENIOR VICE PRESIDENT, PRODUCT MANAGEMENT Mr. Wilson has served as our Senior Vice President, Product Management since May 2021. He is responsible for the Product and Pricing functions for the company. Prior to his current role, Mr. Wilson also served as
Slide 70: Josh Teteak, Chief Supply Chain Officer
2 0 2 2 I N V E S T O R D AY | 70 Josh Teteak CHIEF SUPPLY CHAIN OFFICER Mr. Teteak has served as our Chief Supply Chain Officer since April 2022. He is responsible for Supply Chain, Procurement, and Capital for the company. Prior to joining BlueLinx, Mr. Teteak served as the Vice President of Suppl
Slide 71: Kevin Henry, Chief People Officer
2 0 2 2 I N V E S T O R D AY | 71 Kevin Henry CHIEF PEOPLE OFFICER Mr. Henry has served as our Chief People Officer since March 2022. He is responsible for the Talent Acquisition, Learning and Development, Team Engagement and Total Rewards functions for the company. Prior to joining BlueLinx, Mr. He
Slide 72: Kelly Janzen, Chief Financial Officer
2 0 2 2 I N V E S T O R D AY | 72 Kelly Janzen CHIEF FINANCIAL OFFICER Mrs. Janzen has served as our Chief Financial Officer since April 2020. She is responsible for the Finance, Investor Relations and Information Technology functions for the company. Prior to joining BlueLinx, Mrs. Janzen served as
Slide 73: Appendix
2 0 2 2 I N V E S T O R D AY | 73 Appendix
Slide 74: Non-GAAP Measures Definitions
2 0 2 2 I N V E S T O R D AY | 74 BlueLinx 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 affecting the business than us
Slide 75: Adjusted EBITDA Reconciliation by Quarter, Q4 2020 – Q1 2022
2 0 2 2 I N V E S T O R D AY | 75 Non-GAAP Reconciliation / Supplementary Financial Information Adjusted EBITDA reconciliation by fiscal quarter, Q4 2020 – Q1 2022 In millions
Slide 76: Adjusted EBITDA Reconciliation by Year, 2019 – 2021
2 0 2 2 I N V E S T O R D AY | 76 Non-GAAP Reconciliation / Supplementary Financial Information Adjusted EBITDA reconciliation by fiscal year, 2019 - 2021 In millions
Slide 77: Sales and Gross Profit by Product Category by Quarter
2 0 2 2 I N V E S T O R D AY | 77 Non-GAAP Reconciliation / Supplementary Financial Information Net sales, gross profit dollars, gross profit percentages, sales mix, and gross profit mix by product category by fiscal quarter, Q4 2020 – Q1 2022 In millions where dollars are presented
Slide 78: Sales and Gross Profit by Product Category by Year
2 0 2 2 I N V E S T O R D AY | 78 Non-GAAP Reconciliation / Supplementary Financial Information Net sales, gross profit dollars, gross profit percentages, sales mix, and gross profit mix by product category by fiscal year, 2019 – 2021 In millions where dollars are presented
Slide 79: Working Capital and Capital Expenditures
2 0 2 2 I N V E S T O R D AY | 79 Non-GAAP Reconciliation / Supplementary Financial Information Working capital by fiscal quarter, Q1 2020 – Q1 2022 In millions where dollars are presented Cash investments in property, plant, and equipment (CAPEX) for fiscal years 2019, 2020, and 2021 In millions wh
Slide 80: Net Leverage Ratio, December 2019
2 0 2 2 I N V E S T O R D AY | 80 Non-GAAP Reconciliation / Supplementary Financial Information Net leverage ratio for the trailing twelve months ended fiscal December 2019 with accompanying Adjusted EBITDA reconciliation In millions where dollars are presented
Slide 81: Net Leverage Ratio, September 2020
2 0 2 2 I N V E S T O R D AY | 81 Non-GAAP Reconciliation / Supplementary Financial Information Net leverage ratio for the trailing twelve months ended fiscal September 2020 with accompanying Adjusted EBITDA reconciliation In millions where dollars are presented
Slide 82: Net Leverage Ratio, December 2020
2 0 2 2 I N V E S T O R D AY | 82 Non-GAAP Reconciliation / Supplementary Financial Information Net leverage ratio for the trailing twelve months ended fiscal December 2020 with accompanying Adjusted EBITDA reconciliation In millions where dollars are presented
Slide 83: Net Leverage Ratio, December 2021
2 0 2 2 I N V E S T O R D AY | 83 Non-GAAP Reconciliation / Supplementary Financial Information Net leverage ratio for the trailing twelve months ended fiscal December 2021 with accompanying Adjusted EBITDA reconciliation In millions where dollars are presented
Slide 84: Net Leverage Ratio, March 2022
2 0 2 2 I N V E S T O R D AY | 84 Non-GAAP Reconciliation / Supplementary Financial Information Net leverage ratio for the trailing twelve months ended fiscal March 2022 with accompanying Adjusted EBITDA reconciliation In millions where dollars are presented
Slide 85: Free Cash Flow, Fiscal Year 2021
2 0 2 2 I N V E S T O R D AY | 85 Non-GAAP Reconciliation / Supplementary Financial Information Free cash flow for fiscal year 2021 In millions where dollars are presented