BlueLinx Q2 sales beat estimates as specialty, structural products grow
BXC•Third-quarter outlook
BlueLinx expects Q3 specialty product gross margin between 18.0% and 19.0%.
The company sees Q3 structural product gross margin between 8.5% and 9.5%.
BlueLinx expects Q3 average daily sales volumes to rise year-over-year and sequentially.
Key figures and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Beat | $814 mln | $793.72 mln (3 Analysts) |
| Q2 Adjusted Net Income | Beat | $9.10 mln | $3.12 mln (2 Analysts) |
| Q2 Net Income | $6.40 mln | ||
| Q2 Adjusted EBITDA | Beat | $36 mln | $23.89 mln (3 Analysts) |
| Q2 Free Cash Flow | $8.7 mln | ||
| Q2 Gross Profit | $140 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the construction supplies & fixtures peer group is "buy".
Wall Street's median 12-month price target for BlueLinx Holdings Inc is $75.00, about 23.9% above its August 3 closing price of $60.51.
The stock recently traded at 43 times the next 12-month earnings vs. a P/E of 54 three months ago.
Q2 sales and earnings beat estimates
U.S. building products distributor BlueLinx Holdings Inc said fiscal second-quarter net sales rose 4.4%, beating analyst expectations.
