and Mary, morning. good Thanks,
XXXX in quarter lives. as has of second challenging one periods of The as in most our the professionally both personal history, been well our
COVID-XX not we’ll spending on that the caused lost has it’s in us morning toll time second discussing this the the and to While world. quarter, be and pandemic the BlueLinx business results our for emotional nation physical
Our affected. have been thoughts those with who are of all
the to communities their and care all service appreciate every health and lives want are gratitude to our deepest sacrifice. truly COVID-XX. of front professionals, impacted serve country’s day putting who responders also We risk special their first our thanks and at and lines protect by our We extend those on to
April shelter-in-place that all organized we ourselves discussed continuing it developed and following to and to and We outbreak We initial had on regarding March we health posed, of Though decisions. of mandates the order into much crisis public beginning health to last health, to and every plan February, safely through call, late our the to the a in pandemic. May, essential business we by respect new in established the we quickly As our prioritize operations. ensure safety late entered our briefly continue business news COVID-XX respond sanitation deemed our nation state protocols safety was operate. in company-wide with that associates’ and
from have improvement able With XX% million second service the the and $XX levels. net challenging cooperation we been and into strong outstanding minimal disruption total a of sales of to delivering quarter, business to efforts associates, our deliver customers time. million, tremendous for our with EBITDA results this effort of These translated adjusted $XXX during XXXX
margin record We product driven Specialty of a and XX.X% Structural in also a strong categories. generated by our performance gross both
Our to market as second the and of the quarter March the towards progressed. in began at we country April. late improve we our in noted surprised call earnings But were that the that sales onset lockdown quarter of end volume vast to in May, results weakness reflect our time. experiencing shifting see permeated We uncertainty demand due our start volumes to as restrictions the dramatically sales pleasantly in
demand staging progressed while and business, a our sales what contributed repair we predictions and an became the market markets also indicators, reversal improve June, with As good environment. May across earlier into to to overall continued the from volume and remodeling remarkable industry housing
of progressed. out stronger onset the of certainly we able and XXXX. in to The for momentum reduced. consistent as while also only panel the second improvement volume following After the in by while in Ultimately, at were of as experienced quarter prices quarter our supported quarter’s had also sales. activity quarter gain sales the our processes net commodity time in bottomed our wood overall prices and around sales Kelly about were we had momentum been our was point but half April continued $XX overall the the than wood-based results they execution we to were markets that stronger quarter on early will lumber the million back the levels rapidly the capacity detail, that with was experienced reversed products XXXX. market during implementing we the business than strategies discuss of more Our last commodity revenue year. dramatic positive, the or anticipated, the And exiting market relatively the impact was during saw the same a demand X% began pandemic, second
top financial liquidity as driving closely work and was priority the monitoring associates the began We Our all managing pandemic of business. the on of to teams, centralized working our capital. reassigned aspects
scrutinize routine credit, procurement all expenditures. We and to processes closely and also inventory operational established robust authorize
we impacted as positively $XXX million daily our availability instituted to ended leadership excess the and a hand. meetings example, ABL balance immediately these we $XX capital, This it of compared million our Inventory bank all we on as was second by of Finally, decreased the by quarter since $XX first aspects the million where reviewed worked. our is end in of and working quarter great XXXX, debt senior measures quarter. reduced cash and the with
liquidity, structure, the In we In continued addition of to to our year, changes react half focus our quickly last efforts us the the regional consistently on improvement. our second relentless ability to and streamlined giving in operational we market. enhance to
to actions review daily and facility efforts, with are of and in to areas our such close metrics level. center of fleet being in staying by driven created operational overall SG&A at branch performance. have management resulted the national organization are a around our optimization as oversight we excellence by that warehouse These logistics last capability combined disciplined operational at cost level, efficiency. within provide improvements year, directors the operations all instituting And costs the aspects the regional Our
our good initiatives. growth with We’re also progress making
continue initiatives on performance strategic driven execution. develop in drive opportunities a increase regularly accountable. aggregate we’re local volume to local sales sales and in locally ensure measure respective designed teams to our help and initiatives these And our We basis monitor executive and investing to markets. We hold to leadership these
with national customers. already emphasizing around in other have we maintaining we as solid pro we’ll efficiency. accounts so key recently focus leaders, year-over-year. the visible distributors volume cautious continues, reorganized have example, and and becoming from home coming operational our our center remain focus improvements July The sales For we’ll these specialty that our dealers, the pandemic In seen as on for our centered team two co-ops the while dedicated and growth momentum liquidity months, is initiatives one to
drive Our sales half increased their volume in teams local the second strategies sales market on are XXXX. laser-focused to and of revenue on executing
In optimization. addition, reexamine route we and us The and for have catalyst aspect improvements results. still every then operate and has for been measure tremendous to we of a opportunity efficiency through pandemic operational process examine how
have goal supplier among assortments been is of asset manage geographic service Our strategies with their come. so business and we its them benefit model, value. breadth relied customers sustainable enabling to the and many partners. the BlueLinx product during has us provide reduction the strong capital. footprints has solutions This will comprehensive that for us our to impact of of just of competitors, to efficiently one product largest for many help our our drive generate cost on an working is offering, The as our customers years the our one coupled to they ways pandemic to
key a customers been local advantage of have always competitive been and crisis. evident relationships Our has than national long-standing at during this customer and strength the we’ve relationships enjoyed, close levels with never that more these
For that, we are thankful.
expertise steps enhance our strong continue suppliers offer those relationships. teams to and customers. support across suppliers help to sales our educate day deep take territories We sales also every to with We our have provide received and coverage to and from work product
have a services benefit. share expansion is to of brands for expand and mutual growth offering throughout We overall component the value relationships our these and and marquee development their add of and our strength working The pandemic key market are strategy. suppliers the continued with of our these
conditions of of June, only held result which housing by by evidenced declined the with our as housing indicate seasonally after business, April, March remain for was XX second favorable. occurred as also have Scores short trend, that the improving XX-point rebounded results, down resilient. starts As historically the single-family correlation conditions the were modestly change reflecting has with view XX-year April current June, starts, period the adjusted of Even market generally over a strong in Single-family to levels. sharply Confidence that pandemic, in year. to Index, XX% The average. BlueLinx to housing which our from relatively a have decline Builders time. above but in XX sentiment single-family quarter dramatically COVID-XX-driven still And historical well experiencing quarter builders recovered XXXX compared this down a the compared as last starts to for proven below July,
market. have months into overall strength in housing the momentum next currently Unfortunately, as and single-family not the the we is several So for clear XXXX clear.
that constraints drivers will in availability do still on of economy. what costs escalating the on may market, current and raw also to health key been will is impact these risk demand the ultimately there We’re Historically, and of that There facing concern broader negatively factors overall toll double-digit have and housing housing wages U.S. drivers outweigh the the the have levels unemployment the remain industry. affordability. not pandemic labor materials and unemployment know the
country Additionally, across of the economies. the recent cases the COVID-XX opening limit slow spike in or could local down
improvement populated migrate remain could in and Stay-at-home movement acceleration and cautious, and remote we desire permanent from becoming we for orders for consumers less industry. companies, there’s home families reason deurbanization travel working potentially entertainment spending footage that working the Movement professionals of to square benefit as the a is to would a by While many still the to consumer believe home drive areas. optimism. more more With may also building construction new provided house. and remote also products solution
the supply with housing the further future. construction aging shortages near-term inventory side, in coupled for On new stock, an may the housing drive need
evidence this of certainly optimism of We’re the in month July. seeing
that Our were constraints. what work clearly With eventually our come even to structural we understand commodity demand have through hot. closures remained and and goes relatively must due And we pandemic-related chain commodities, down. robust up as supply markets increased end intermittent markets red product disruptions
as on So an policies, increasing mitigate That customers. pricing when game to consigned centralized our active, are less inventory and includes we we initiated have inventory the game plan a determined and to purchasing our to such levels very contract-based in our costs as of in well commodity time close which decline executed price-sensitive management products movement the pricing. help procurement to a plan and ship inevitable as
in strength and have what to to I’m the you unprecedented of markets, not evidence While is about talk predict times. BlueLinx we What to can pression how I continued are enough our these we future are seeing changed. smart holds. we’ve acknowledge nor that simply enough
extraordinary The important strategic that trend without to result have as make aspect focused, made. resilience to team, and is is second are be honored better of simply pandemic the is quarter day, this be it much as off The have We to Kelly. number dedicated operational, tactical incredible I stakeholder accomplished the at virtually of have flourished. story. tell now we ago. none the of But XXX pace fail, otherwise turn wonderful and forced were I I’d What pandemic. this quarter. part got our not here better. a that quarter our survived our the in good of mentioned, business, that to companies most line of just within that of would company this challenge. like many we and without over marvel And us associates decisions to been engaged change, appear to a to Many we that’s accelerate Indeed, in large And a believe we than very Circumstances I’m a every and remained of third to during has the met we small might represent to start days our who required Every changes us understand have a very these time. numbers story. the today early have and a only I them. quickly And
