BlueLinx sales rise 9% in Q3

Building products distributor BlueLinx reported third quarter sales increased 9% to $1.1 billion from sales of $971 million in the third quarter 2021.

Sales of specialty products, including engineered wood, siding, millwork, outdoor living, industrial products and specialty lumber and panels, increased 13%, to $724 million for the quarter. The Marietta, Ga.-based company said the increase was driven “strategic pricing actions” with volume relatively flat year-over-year.

Structural product sales, including products lumber, plywood, oriented strand board, rebar, and remesh, increased 2%, to $336 million for the period. BlueLinx said the increase in structural sales was driven by an increase in the average composite price of framing lumber year-over-year.

The distributor also posted a net income of $60 million, rising more than 27% from a net income of $47.2 million for the same period a year ago. 

BlueLinx’s reach covers all 50 states. The company serves15,000 customers including national home centers, pro dealers, cooperatives, specialty distributors, regional and local dealers, and industrial manufacturers.

On Oct. 3, BlueLinx acquired Vandermeer Forest Products including its main branch facilities for $67 million. This strategic acquisition provides BlueLinx with a platform for growth in the Pacific Northwest.

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The Bottom Line: Profits at BlueLinx jump over 27% to $60 million for the third quarter.

What the CEO said:  “We believe our scale, strategic supplier relationships, key customer relationships and strong balance sheet are advantages that position us to successfully navigate a more challenging macro environment,” said BlueLinx President and CEO Dwight Gibson. “Operationally we are focused on optimizing productivity, lean inventory management and increasing our specialty products sales mix, while maintaining a disciplined approach to capital allocation.”

Company info: Click here to read the full third quarter financial report from BlueLinx.