EXHIBIT 99.2
Dallas Austin |
Review Financial BlueLinx Third Quarter 2006 & Operational |
BlueLinx Holdings Inc. Safe Harbor Statement and Use of Non-GAAP and Pro Forma Information |
the |
The Company Company’s views as . business, strategy or actual results to differ materially from the November 1, 2006.The Company undertakes no obligation to To supplement GAAP financial statements, the Company uses |
All of these forward-looking statements are based on estimates and -This non-GAAP, or pro forma financial information is provided as ring, infrequent or other non-cash charges that are not material to the |
Information |
This presentation includes “forward-looking statements” within the meaning of the |
- Financial |
Harbor |
Safe |
Forma* |
These forward-looking statements should not be relied upon as representing the |
Pro |
In addition, the statements in this presentation are made as ofand |
Statement |
GAAP |
Looking - |
- Non of |
ForwardPrivate Securities Litigation Reform Act of 1995.assumptions made by our management that, although believed by BlueLinx to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of its control, that may cause itsforward-looking statements. These risks and uncertainties may include, among other things: changes in the supply and/or demand for products which we distribute; the activities of competitors; changes in significant operating expenses; changes in theavailability of capital; the ability to identify acquisition opportunities and effectively and cost-efficiently integrate acquisitions; general economic and business conditions in the United States; adverse weather patterns or conditions; acts of war or terrorist activities; variations in the performance of the financial markets; and other factors described in the “Risk Factors” section inCompany’s Annual Report on Form 10-K for the fiscal year ended December 31, 2005, and in its periodic reports filed with the SEC from time to time.expects that subsequent events or developments will cause its views to change.update any of the forward-looking statements made herein, whether as a result of new information, future events, changes in expectation or otherwise.of any date subsequent to November 1, 2006.Usenon-GAAP, or pro forma measures of operating results.additional information for investors and is not in accordance with or an alternative to GAAP. These adjusted results exclude certain costs, expenses, gains and losses, and we believe their exclusion can enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of the operating performance of the Company as opposed to GAAP results, which may include non-recurongoing performance of the Company’s business. Company management uses these non-GAAP and pro forma results as a basis for planning and forecasting core business activity in future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net earnings, diluted earnings per share or net cash provided by (used in) operating activities prepared in accordance with generally accepted accounting principles in the United States |
BlueLinx Holdings Inc. Introduction |
Steve MacadamChief Executive Officer |
BlueLinx Holdings Inc. Introduction |
Goals and Strategic Objectives |
• sales volatility to total of exposure |
•60+%to reducing revenues while specialty structural market grow grow the Profitably Profitably Outgrow |
BlueLinx Holdings Inc. Introduction |
1.2 billion $0.07persharevs. Down 17.2% toSpecialty down 1.1%, 45% of Total Revenue, 62% of GMStructural down 26.8% Total down 12%Specialty down 3.9%Structural down 17% End-use markets down 8.7%Quarter Highlightsrd Housing starts in biggest decline since 1991 Key grades of wood-based structural product prices fell 17% to Unit Volume 24% from end of Q2 #f06 Revenue3 |
(current quarter includes $1.4 million / $0.05 per share for severance costs) |
BlueLinx Holdings Inc. Operations Review |
George JuddPresident & Chief Operating Officer |
BlueLinx Holdings Inc. Unit Volume Growth by Quarter and TTM |
TTM8.0% (7.7%) (1.9%) (0.7 %) 8.7 % (7.0 %) —Q3 2006(3.9%) (17.0%) (12.0%) (8.7 %) 4.8 % (8.3 %) —Q2 20069.6% (11.3%) (3.8%) (1.8 %) 11.4 % (9.5 %) —Q1 200614.9% (0.8%) 5.0% 2.6 % 12.3 % (3.4 %) —Q4 200512.7% 0.2% 5.0% 6.7 % 6.0 % (6.5 %) versus End-Use Market Growth Estimated BXC Unit Volume Growth Specialty Structural Total Estimated Weighted End-Use Market Growth Specialty Structural versus End-Use Market Growth |
· was markets price profitability which and maintaining starts, slowdown housing construction housing volume on in unit focused the decline non-residential of specialty BlueLinx and result 19% a to 17%, growing prices, due industrial on 8.7% in declined focus structural fell strength volume to markets by declining products offset unit continued of end-use face Structural weakness BlueLinx the structural Q3 partially In in |
End-Use Markets BlueLinx Holdings Inc. Specialty Unit Volume Growth vs. |
= percentage point spread |
% Growth Volume Unit |
2005 |
2006 |
2006 |
2006 |
Continued specialty share gains reflect: |
• housing remainder growth to with specialty related TTM, to directly the 0.7% for not points markets 6 contributed and in quarter 2006, chain the August supply for the points acquired in 4 value of acquisitions creating growth from Hardwoods, on Organic coming Austin Focus |
starts |
BlueLinx Holdings Inc. Quarterly Sales |
) $ millions (unaudited |
Specialty Structural Other Total |
(21.7 ) (154.3 ) NA (176.0 )Unit Volume $ $ NA% Variance(1.1 %) (26.8 %) (17.2 %) (6.4 ) (0.3 )$ Variance(243.9 ) (250.6 ) $ $Q3 2006553.5 666.7 (16.6 ) 1,203.6 $ $Q3 2005559.9 910.6 (16.3 ) 1,454.2 $ $ |
• non-in 38% lower vs. strength and quarter volume the reflecting unit for stable, lower sales of total relatively result of a 45% was as year volume markets declined represented last unit period related sales sales specialty same housing Structural Specialty the Q3 prices for |
BlueLinx Holdings Inc. Quarterly Gross Margin |
) $ millions (unaudited |
Variance3.3 (19.8 ) 0.4 (16.1 ) 0.7 % (0.3 %) NA 0.6 % $ $$ 77.5 46.8 (3.4 ) 120.9 14.0 % 7.0 % NA 10.0 %Q3 2006 $ $ 74.2 66.6 (3.8 ) 137.0 13.3 % 7.3 % NA 9.4 %Q3 2005 $ $‘s $ Gross MarginSpecialty Structural Other TotalGross Margin %’sSpecialty Structural Other Total |
· in volume strategy increases unit lower company’s reflecting volume reflecting the and million, unit lower starts $3.3 by by significantly, housing increase offset declined in partially margin decline margin margin rate, the gross gross with gross margin maintain Specialty gross Structural associated to |
BlueLinx Holdings Inc. Inventory Analysis |
) $ millions (unaudited |
(10.0 ) 64.2 (1.9 )52.313Year Ago Quarter Variance $ (34.4 ) (7.2 ) (19.4 )61.0 )3$ Sequential Quarter Variance ( 20.753Q3 2006158.1 292.4471.2 $$ 40.150Q2 2006192.5 299.6532.2 $$ 37.447Q1 2006194.7 269.1501.2 $$ 43.042Q4 2005184.6 245.5473.1 $$ 22.640Q3 2005168.1 228.2418.9 $$ (average) |
On-hand turn days Structural Products Specialty Products Other*Total BlueLinx Ending Inventory |
· and demand slowing levels to target volume related above lower inventories quarter reflecting the declined, reduce ended further inventories inventories to underway factors Specialty Structural Efforts seasonal |
other miscellaneous items. * Other includes in-transit inventory accruals, discounts, allowances, reserves, and |
BlueLinx Holdings Inc. Other Key Indicators |
Quarterrd |
3 |
• material in 0.1% year TTM of last 2005 increase period Q3 as and same same 40 42, costs/ULE vs. at 50 at days delivery days turn in turn capital 2.2% capital of costs/ULE working reduction Working TTM Q3 handling |
ULE or unit load equivalent) |
BlueLinx Holdings Inc. Strategic Initiatives |
· and the specialty growth and high-growth recognize of business industrials, who mix specialty attractive increasing particularly serve vendors by support that product initiative to segments, accounts necessary specialty improvement represented growing existing structural processes under with of targeted, margin and in proposition volatility on gross people volume focus relationships value in continue markets Continue mitigating Invest Increase Expand BlueLinx |
Be a patient, disciplined acquirer |
BlueLinx Holdings Inc. Financial Review |
David MorrisChief Financial Officer & Treasurer |
BlueLinx Holdings Inc. Quarterly Revenue Review |
) $ millions (unaudited |
Percent(17.2%) (3.9%) (17.0%) (12.0%) (5.2%) (17.2%) —— —Increase/ (Decrease)(250.6) (21.7) (154.3) (176.0) (74.6) (250.6) — $ $3Q06 Actual1,203.6 — $3Q05 Actual1,454.2 $ Specialty Products Structural Products Total Sales Variance Analysis Unit Volume Total Unit Volume Price/Other Total Variance |
BlueLinx Holdings Inc. Quarterly Gross Profit |
) $ millions (unaudited |
Percent(17.2 %) (17.8 %) (11.8 %)Increase/ (Decrease)(250.6 ) (234.5 ) (16.1 ) 0.6 % $ $3Q06 Actual1,203.6 1,082.7 120.9 10.0 % $ $ 1,454.2 1,317.2 137.0 9.4 %3Q05 Actual $ $ Sales Cost of Sales Gross Profit Gross Margin % |
BlueLinx Holdings Inc. Quarterly Operating Income |
$ millions (unaudited) |
Gross Profit Operating Expenses SG&A D&A Total Operating Expenses Operating Income |
Percent(11.8 %) 1.7% 4.0% 1.8 % (52.8 %)Increase/ (Decrease)(16.1 ) 1.7 0.2 1.9 (18.0 ) $ $ 120.9 99.6 5.2 104.8 16.13Q06 Actual $ $ 137.0 97.9 5.0 102.9 34.13Q05 Actual $ $ |
BlueLinx Holdings Inc. Quarterly Net Income |
$ millions (unaudited) |
Percent(52.8 %) 7.1% NAIncrease/ (Decrease)(18.0 ) 0.8 0.3 (19.1 ) (7.5 ) (11.6 ) — (11.6 ) (0.39 ) $ $ $ $ 16.1 12.0 — 4.1 1.8 2.3 — 2.3 0.073Q06 Actual $ $ $ $ 34.1 11.2 (0.3) 23.2 9.3 13.9 — 13.93Q05 Actual0 . $ $ $ $ 46 Charges associated with mortgage g, net of taxes Operating Income Interest Expense Other Expense/(Income) Income before Tax Tax Expense/(Benefit) Income before charges refinancin Net income Diluted Earnings per Share before charges |
BlueLinx Holdings Inc. Year to Date Revenue Review |
) $ millions (unaudited |
Percent(7.8%) 6.5% (9.9%) (3.8%) (4.0%) (7.8%) —Increase/ (Decrease)(333.7) 104.8 (270.3) (165.5) (168.2) (333.7) — $ $YTD ‘06 Actual3,959.1 — $YTD ‘05 Actual4,292.8 $ Specialty Products Structural Products Total Sales Variance Analysis Unit Volume Unit Volume Price/Other Total Variance |
BlueLinx Holdings Inc. Year to Date Gross Profit |
) $ millions (unaudited |
Percent(7.8 %) (8.9 %) 4.1 %Increase/ (Decrease)(333.7 ) (349.0 ) 15.3 1.1 % $ $ 3,959.1 3,571.8 387.3 9.8 %YTD ‘06 Actual $ $ 4,292.8 3,920.8 372.0 8.7 %YTD ‘05 Actual $ $ Sales Cost of Sales Gross Profit Gross Margin % |
BlueLinx Holdings Inc. Year to Date Operating Income |
Gross Profit Operating Expenses SG&A D&A Total Operating Expenses Operating Income |
$ millions (unaudited) |
Percent4.1 % 6.4% 10.9% 6.6 % (4.8 %)Increase/ (Decrease)15.3 17.7 1.5 19.2 (3.9 ) $ $YTD ‘06 Actual387.3 295.0 15.3 310.3 77.0 $ $YTD ‘05 Actual372.0 277.3 13.8 291.1 80.9 $ $ |
BlueLinx Holdings Inc. Year to Date Net Income |
$ millions (unaudited) |
Percent(4.8%) 13.8% NA —Increase/ (Decrease)(3.9) 4.3 — (8.2) (2.8) (5.4) (3.0 ) (8.4 ) — $$ $YTD ‘06 Actual77.0 35.5 — 41.5 16.8 24.7 (3.0 ) 21.7 — $$ $YTD ‘05 Actual80.9 31.2 — 49.7 19.6 30.1 — 30.1 $$ $ Charges associated with mortgage g, net of taxes Operating Income Interest Expense Other Expense/(Income) Income before Tax Tax Expense/(Benefit) Income before charges refinancin Net income |
BlueLinx Holdings Inc. Quarter End Balance Sheets |
$ millions |
24.2 435.1 471.2 55.1 985.6 180.5 28.4 1,194.5 321.0 71.0 27.6 419.6 561.5 16.0 997.1September 30, 2006(unaudited) $ $ $$ 27.1 469.1 532.2 52.2 1,080.6 178.3 27.4 1,286.3 373.2 126.4 21.8 521.4 550.0 15.0 1,086.4July 1, 2006(unaudited) $ $ $$ 24.3 399.1 473.1 51.6 948.1 184.0 25.5 1,157.6 389.4 0.0 28.7 418.1 540.9 14.8 973.8December 31, 2005 $$ $$ 28.3 526.5 418.9 48.5 1,022.2 185.7 27.4 1,235.3 369.3 63.9 26.7 459.9 590.0 14.4 1,064.3October 1, 2005(unaudited) $ $ $$Assets:Cash Receivables, net Inventories, net Other current assets Total current assets Property, plant, and equipment, net Other non-current assets Total assetsLiabilities :Current liabilities: Accounts payable and bank overdrafts Current maturities of long-term debt Other current liabilities Total current liabilities Non-current liabilities: Long-term debt Other long-term liabilities Total liabilities |
BlueLinx Holdings Inc. Unaudited Statement of Cash Flows |
$ millions |
21.7YTD 2006 Actual $$ 30.1YTD 2005 Actual $$ 2.33 Q06 $$3 Q0513.9 $$Cash flows from operating activities:Net Income Adjustments to reconcile net income |
Appendix |
PAGE26 27 28 29 30 31 32 33 34 35 36 — |
TOPICRevenues by Quarter Unit Volume Growth by Quarter Market Growth by Quarter Gross Margin by Quarter Profit and Loss Statement by Quarter Inventory by Quarter Quarterly Volume by Region Year to Date Volume by Region Gross Margin % Analysis Channel Mix Analysis Structural Product Price Trends — |
BlueLinx Holdings Inc. Revenues by Quarter |
(81.8 ) 830.8 688.0 413.5 325 257 435 2,276.3 3,094.0 5,288.5 1,161.7 2,680.5 $$ $TTM$ 3,094.0 $ $ $ 2,557,446 2,679,550 2,670,598 (68.7 ) 960.8 800.5 389.1 346 293 453 2,143.1 3,547.7 5,622.1 1,397.3 3,158.6 $$ $2005$ 3,547.7 $ $ $ 2,778,824 2,732,168 3,087,100(1) (58.1 ) 743.2 430.7 363 329 47320041,959.8 3,656.5 5,558.2 1,083.2 1,399.4 3,225.8 3,656.5 $$ $ $ $ $ $ 2,984,967 2,256,427 2,955,789(1) (53.0 ) 861.5 609.2 930.9 234.4 296 254 366 1,688.8 2,636.0 4,271.8 2,401.6 $$ $2003$ 2,636.0 $ $ $ 2,914,926 2,397,699 2,543,536 553.5 666.7 (16.6 ) 188.7 114.4 245.9 549.0 117.7 666.7 296 191 406Q31,203.6 $$ $ $ $ $ $ 637,932 598,681 605,678 $ 603.3 798.7 (23.0 ) 209.5 169.4 294.8 673.7 125.0 798.7 319 245 438Q2$$ $2006$ $ 1,379.0 $ $ 657,679 692,559 673,238 $ 580.0 813.4 (16.8 ) 215.4 198.5 311.8 725.7 87.7 813.4 326 280 453Q11,376.6 $$ $ $ $ $ 659,798 709,556 688,886 $ 539.5 815.2 (25.4 ) 217.2 205.7 309.2 732.1 83.1 815.2 361 303 440Q41,329.3 $$ $ $ $ $ 602,037 678,754 702,796 $ 559.9 910.6 (16.3 ) 243.6 196.8 369.3 809.7 100.9 910.6 351 264 442Q31,454.2 $$ $ $ $ $ 693,328 744,340 835,550 $2005 |
542.6 960.7 (16.3) 255.2 213.1 381.1 849.4 111.3 960.7 337 290 460 |
Q21,487.0 $$ $ |
$ $ $ 757,948 734,042 828,620 $ 501.1 861.2 (10.7) 244.8 184.9 337.7 767.4 93.8 861.2 337 322 469 |
Q11,351.6 $$ $ |
$ $ $ 725,511 575,032 720,134 $(1) 473.9 754.9 (21.2) 211.2 132.6 319.3 663.1 91.8 754.9 320 248 446 |
Q4$$ $2004$ 1,207.6 $ $ 659,765 534,949 715,773 |
$ /MSF 3/8” /MSF 3/8” /MBF/Unit$$ $in millions(2) Sub Total$ $(3) Plywood OSB Lumber Rebar/Remesh Total Plywood OSB Lumber Plywood OSB LumberSales Specialty Structural Other Total Structural Structural Unit Sales Structural Structural Structural |
Pro Forma Includes LSV as of the acquisition date, July 2005 and Austin Hardwoods as of the acquisition date, August 2006. Includes competitive discounts, cash discounts, service revenue, Canadian conversion, and sales accruals. |
(1) (2) (3) |
BlueLinx Holdings Inc. Unit Volume Growth By Quarter |
8.0 % 2.5 % 0.9% (7.7%)(1.9 %) TTM(10.5 %) (13.6 %)20055.1 % (6.7 %) 20.4 % 4.3 % (5.4%) 3.2%3.9 % |
20047.6 % 4.1 % (3.0 %) 17.6 % 19.1% 8.6%8.2 % 20034.4 % (7.1 %) (6.9 %) 11.0 % 5.2% 1.0%2.5 % |
(3.9 %) (9.0 %) 8.4 %Q3(20.3 %) (27.4 %) (17.0 %)(12.0 %) |
9.6 % (6.4 %) 8.0 %(3.8 %) 2006 Q2(13.2 %) (18.4 %) (11.3 %) |
14.9 % 21.7 % (4.2 %) (8.1%) (0.8%)5.0 % Unit Volume Growth Q1(10.3 %) |
12.7 % (8.7 %) 23.7 % (1.8 %) (6.1%) 0.2%5.0 % Q4 |
5.8 % 24.5 % 2.6 % (5.0%) 0.9%2.6 % Q3(14.6 %)20050.5 % 9.4 % 6.6 % |
(3.3 %) 21.5 % (4.2 %)4.6 % Q2 |
1.7 % (1.0 %) 12.4 % 7.2 % (7.1%) 4.2%3.3 % Q1 |
2.9 % 9.7 % 7.0 % 23.8 % 19.4% 14.3%9.4 % 2004 Q4 |
(1) PlywoodSpecialty StructuralOSB Lumber Rebar/Remesh TotalTotal |
Includes LSV as of the acquisition date, July 2005 and Austin Hardwoods as of the acquisition date, August 2006. |
(1) |
BlueLinx Holdings Inc. Market Growth By Quarter |
(6.2%) 4.0% 2.6 % 10.7% 5.5%(0.7 %) TTM 20055.6% 3.2% (0.4 %) 14.6% (3.3%)4.4 % |
20045.8% 4.1% 5.0 % 0.0% (0.1%)4.5 % |
20038.4% 0.6% (2.4 %) (22.5%) (3.5%)2.0 % |
5.5 % (9.3%) 4.4%(8.7 %) |
Q3(18.7 %) (0.4 %) |
(9.5%) 3.7% 12.1 % 1.5% 5.0%(1.8 %) |
2006 Q2 |
2.5% 3.4% (3.5 %) 8.4% 8.2%2.6 % |
Q1 |
3.0% 2.7% 1.5 % 51.5% 5.2%6.7 % |
Market Growth Q4 |
6.7% 2.9% (0.4 %) (0.3%) (0.3%)3.9 % |
Q3 |
2005 |
6.7% 3.4% (4.0 %) 0.0% (6.7%)3.2 % |
Q2 |
5.5% 3.9% 1.8 % 6.9 %3.9 % |
Q1(10.7 %) |
(2.5%) 4.2% 10.4 % 9.5% (5.8%)1.7 % |
2004 Q4 |
Weight50.0% 22.0% 15.0 % 8.0% 5.0%100.0 % |
End Use DriverActual Housing Starts Industrial Production Repair & Remodel Actual Mobile Homes Non Residential ConstTotal |
weighted using management’s estimates. Data from Resource Information Systems, Inc., or RISI, updated as of October 2006, Source: |
BlueLinx Holdings Inc. Gross Margin by Quarter |
Gross Margin $ in millions |
2006 |
2005 |
(1) |
2004 |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Q1 |
Q2 |
Q3 |
(1) |
2004 |
(1) |
2003 |
2005 |
TTM |
321.7 226.1 (20.1 ) 527.7 14.1 % 7.3 % n/a 10.0% $ $ 284.4 245.7 (17.7 ) 512.4 13.3 % 6.9 % n/a 9.1% $ $ 279.6 310.0 (25.8 ) 563.8 14.3 % 8.5 % n/a 10.1% $ $ 223.2 247.6 (17.6 ) 453.2 13.2 % 9.4 % n/a 10.6% $ $ 77.5 46.8 (3.4 ) 120.9 14.0 % 7.0 % n/a 10.0% $ $ 86.9 55.7 (6.2 ) 136.4 14.4 % 7.0 % n/a 9.9% $ $ 80.4 55.8 (6.2 ) 130.0 13.9 % 6.9 % n/a 9.4% $ $ 76.9 67.8 (4.3 ) 140.4 14.3 % 8.3 % n/a 10.6% $ $ 74.2 66.6 (3.8 ) 137.0 13.3 % 7.3 % n/a 9.4% $ $ 70.1 50.7 (5.1 ) 115.7 12.9 % 5.3 % n/a 7.8% $ $ 63.2 60.6 (4.5 ) 119.3 12.6 % 7.0 % n/a 8.8% $ $ 64.3 36.1 1.0 101.4 13.6 % 4.8 % n/a 8.4% $ $(2) (3)(3)(2) (3)(3)(4)(4) Specialty Structural Other Total Gross Margin %’s Specialty Structural Other Total |
Pro Forma Includes LSV as of the acquisition date, July 2005 and Austin Hardwoods as of the acquisition date, August 2006. Includes product rebates. Includes competitive discounts, cash discounts, Canadian conversion, and accruals. |
(1) (2) (3) (4) |
by Quarter BlueLinx Holdings Inc. Profit and Loss Statement |
527.710.0%395.7 20.3 416.0 111.7 46.6 0.1 65.0 25.8 39.2 (3.0 ) 36.2 1.28 (0.10 ) 1.18TTM5,288.5 4,760.8 $ $ $ $9.1 %18.7 42.3 0.2 73.2 28.6 44.6 — 44.6 1.46 — 1.46(2) 512.4 378.0 396.7 115.7 5,622.1 5,109.7 $ $ $2005$ |
15.5 37.7 — 51.2 74.6 — 74.6 2.47 — 2.47 |
(1) 563.810.1%384.8 400.3 163.5 125.8 |
5,558.2 4,994.4 $ $ $2004$ |
15.6 77.7 31.9 0.4 45.4 18.5 26.9 — 26.9 0.89 — 0.89 |
(1) 453.210.6%359.9 375.5 |
4,271.8 3,818.6 $ $ $2003$ |
99.6 5.2 16.1 12.0 — 4.1 1.8 2.3 — 2.3 0.07 — 0.07 |
120.910.0%104.8 $ 1,203.6 1,082.7 $ $Q3$ |
(3)9.9 %98.1 5.1 33.2 12.3 (0.1) 21.0 8.4 12.6 (3.0) 9.6 0.41 0.31 |
136.4 103.2 $ (0.10) |
2006 Q21,379.0 1,242.6 $ $ |
$9.4 %97.3 5.0 27.7 11.2 0.1 16.4 6.6 9.8 — 9.8 0.32 — 0.32 |
130.0 102.3 $Q11,376.6 1,246.6 $ $ |
$ 140.410.6%100.7 5.0 105.7 34.7 11.1 0.1 23.5 9.0 14.5 — 14.5 0.48 — 0.48 |
Q41,329.3 1,188.9 $ $ $ |
$ 137.09.4%97.9 5.0 102.9 34.1 11.2 (0.3) 23.2 9.3 13.9 — 13.9 0.46 — 0.46 |
Q31,454.2 1,317.2 $ $ $ |
$(2) 20054.6 0.2 4.5 7.8 7.8 |
7.8 %87.9 92.5 23.2 10.7 12.3 — 0.25 — 0.25 |
115.7 $Q21,487.0 1,371.3 $ $ |
$8.8 %91.5 4.1 95.6 23.7 9.3 0.2 14.2 5.8 8.4 — 8.4 0.28 — 0.28 |
119.3 $Q11,351.6 1,232.3 $ $ |
$ 101.48.4%92.7 3.9 96.6 4.8 9.9 (0.5) (4.6) (1.9) (2.7) — (2.7) (0.09) — (0.09) |
$Q41,207.6 1,106.2 $ $ |
$(1) 20044.0 9.9 0.1 |
142.39.4%94.3 98.3 44.0 34.0 13.8 20.2 — 20.2 0.67 — 0.67 |
Q31,509.6 1,367.3 $ $ $, except per share amounts$ |
(4) in millions $ |
Tax Charges associated Charges associatedTotal OperatingExpense/(Benefit) with mortgage with mortgageProfit & Loss Gross ProfitGrossOperating Expenses Expenses Operating Income beforerefinancing, net ofDiluted EPS beforerefinancing, net ofStatement SalesCost of Goods SoldMargin %SG&A D&AIncomeInterest Expense Other Expense/(Income)Income before Tax ChargestaxNet Income ChargestaxDiluted EPS |
Pro Forma Includes LSV as of the acquisition date, July 2005. Includes Austin Hardwoods as of the acquisition date, August 2006. Immaterial rounding adjustments and differences may exist between appendix slides, presentation slides, and previously issued presentations. |
(1) (2) (3) (4) |
BlueLinx Holdings Inc. Inventory by Quarter |
292.4 158.1 20.7 471.2 42.4 10.7 67.6 120.7 37.4 158.1 53 $2006$ $ $ |
245.5 184.6 43.0 473.1 54.1 19.8 88.1 162.0 22.6 184.6 43 |
$2005$ $ $ |
248.8 225.7 25.7 500.2 59.9 22.2 98.9 181.0 44.7 225.7 41 |
$2004$ $ $ |
181.3 150.4 (25.5) 306.2 48.1 21.8 62.5 132.4 18.0 150.4 43 |
$2003$ $ $ |
292.4 158.1 20.7 471.2 42.4 10.7 67.6 120.7 37.4 158.1 53 |
Q3$ |
$ $ $ 299.6 192.5 40.1 532.2 53.8 11.7 85.7 151.2 41.3 192.5 50 |
Q2$2006$ $ $ |
269.1 194.7 37.4 501.2 59.4 16.4 84.1 159.9 34.8 194.7 47 |
Q1$ |
$ $ $ 245.5 184.6 43.0 473.1 54.1 19.8 88.1 162.0 22.6 184.6 42 |
Q4$ |
$ $ $ 228.2 168.1 22.6 418.9 48.1 13.1 82.4 143.6 24.5 168.1 40 |
Q3$ |
$ $ $2005 |
238.4 217.7 30.0 486.1 55.6 24.5 100.2 180.3 37.4 217.7 42 |
Q2$ |
$ $ $ 254.7 234.1 29.1 517.9 65.7 28.0 102.5 196.2 37.9 234.1 49 |
Q1$ |
$ $ $ 248.8 225.7 25.7 500.2 59.9 22.2 98.9 181.0 44.7 225.7 47 |
Q4$2004$ $ $in millions $(1) Sub TotalStructural(2) Plywood OSB Lumber Rebar/Remesh Total All ProductsInventory Specialty Other Total Structural On-hand turn days (average) |
Includes LSV as of the acquisition date, July 2005 and Austin Hardwoods as of the acquisition date, August 2006. Includes in-transit accruals, discounts, allowances, reserves, and other miscellaneous items. |
(1) (2) |
BlueLinx Holdings Inc. Quarterly Volume by Region |
) $ millions (unaudited |
(14.5 %) (13.7 %) (12.2 %) (12.6 %) (11.2 %) (14.7 %) NA (12.0 %)%Unit Variance (15.6 ) (45.2 ) (31.0 ) (21.8 ) (45.1 ) (26.0 ) 8.7 (176.0 )Unit $ Variance (19.7 ) (61.2 ) (44.8 ) (26.3 ) (72.5 ) (34.9 ) 9.1 (0.3 )$(250.3 ) (250.6 )Total Variance 87.6 269.2 209.1 147.2 328.8 142.5 35.8 1,220.2 (16.6 ) 1,203.6Q3 2006 Sales 107.3 330.4 253.9 173.5 401.3 177.4 26.7 1,470.5 (16.3 ) 1,454.2Q3 2005 Sales Central Western Mid Atlantic Northeast Southeast Mid West Other Total Invoiced Sales BlueLinx Miscellaneous Total Net Sales |
*Miscellaneous consists of cash and competitive discounts, Canadian conversion, service revenue and other miscellaneous items. |
BlueLinx Holdings Inc. Year to Date Volume by Region |
) $ millions (unaudited |
(10.5 %) (7.7 %) (5.0 %) (4.6 %) (0.4 %) (6.3 %) NA (3.8 %)%Unit Variance (34.3 ) (75.6 ) (37.8 ) (21.5 ) (4.6 ) (33.2 ) 41.5 (165.5 )Unit $ Variance $(44.6 ) (106.2 ) (68.2 ) (30.4 ) (63.8 ) (48.4 ) 41.1 (320.5 ) (13.2 ) (333.7 )Total Variance 281.4 877.9 688.6 436.9 1,152.8 475.4 102.6 4,015.6 (56.5 ) 3,959.1YTD 2006 Sales 326.0 984.1 756.8 467.3 1,216.6 523.8 61.5 4,336.1 (43.3 ) 4,292.8YTD 2005 Sales Central Western Mid Atlantic Northeast Southeast Mid West Other Total Invoiced Sales BlueLinx Miscellaneous Total Net Sales |
*Miscellaneous consists of cash and competitive discounts, Canadian conversion, service revenue and other miscellaneous items. |
BlueLinx Holdings Inc. Gross Margin % Analysis |
3Q06 Variance from Trend F/(U)(1.5%) 0.8% (1.4%) (1.1 %) 0.6% 0.7% 1.3% 0.7 % (0.1 %)3 Q069.1% 5.1% 5.3% 7.0 % 16.9% 8.2% 10.0% 14.0 % 10.0 %2 Q069.5% 4.6% 5.9% 7.0 % 17.7% 8.4% 11.3% 14.4 % 9.9 %1 Q0610.4% 3.7% 4.7% 6.8 % 17.9% 7.2% 9.9% 13.9 % 9.4 %4 Q0512.0% 5.1% 5.9% 8.3 % 17.8% 8.2% 10.8% 14.3 % 10.6 %(3 ) Trend10.6% 4.3% 6.7% 8.1 % 16.3% 7.5% 8.7% 13.3 % 10.1 %(1)(1) Structural ProductsWarehouse Direct Reload Total Warehouse Direct Reload Total(1) (2) (3) Specialty Products Total |
Includes product rebates. Includes competitive discounts, cash discounts, Canadian conversion, and accruals. The 11 quarters from 2001 through Q3 2003 was selected as a representative trend |
(1)(2) (3) |
period which reflects a variety of market conditions and pricing cycles. |
BlueLinx Holdings Inc. Revenue Channel Mix Analysis |
2 Q0644.6% 39.3% 16.1% 100.0 % 61.9% 28.1% 10.0% 100.0 %1 Q0644.9% 41.4% 13.7% 100.0 % 59.4% 30.1% 10.5% 100.0 %4 Q0545.1% 40.7% 14.2% 100.0 % 60.4% 29.2% 10.4% 100.0 %(1) Trend57.2% 33.6% 9.2% 100.0 % 64.8% 29.2% 6.0% 100.0 %Structural ProductsWarehouse Direct ReloadSpecialty ProductsWarehouse Direct ReloadTotal Total |
3Q06 Variance from Trend F/(U)(10.9%) 1.9% 9.0% 0.0 % 0.0% (3.4%) 3.4% 0.0 % |
3 Q0646.3% 35.5% 18.2% 100.0 % 64.8% 25.8% 9.4% 100.0 % |
The 11 quarters from 2001 through Q3 2003 was selected as a representative trend period which reflects a variety of market conditions and pricing cycles. |
BlueLinx Holdings Inc. Structural Products Price Trends |
Plywood Price Trend 2003-2006 YTDSouthern Sheathing 15/32” 4 Ply. West Zone |
2003 — 2006 YTDOriented Strand Board 7/16” North Central Zone |
Oriented Strand Board Price Trend |