Headquartered in Atlanta, Georgia, BlueLinx, is a leading distributor of building products in North America. Employing over 1,600 people, BlueLinx offers greater than 10,000 products from over 750 suppliers to service approximately 11,500 customers nationwide, including dealers, industrial manufacturers, manufactured housing producers and home improvement retailers. The Company operates its distribution business through a vast network of 40 distribution centers located throughout the U.S.
1950 Spectrum Cir, Marietta, GA 30067
IndustryFarming Ranching & Forestry
In 2022, we worked tirelessly to capitalize on favorable market conditions to generate strong returns, while driving continuous improvement across the organization. For the full-year fiscal 2022, we delivered record adjusted EBITDA, net sales of $4.5 billion and net income of $296 million, or $31.51 diluted earnings per share. We ended the year with a fortified balance sheet and approximately $300 million of cash on hand. We also delivered strong margin performance in both specialty and structural products by remaining disciplined with our pricing strategy. We continued to employ a rigorous approach to managing our inventory, which allowed us to generate strong returns on working capital. We invested $170 million in organic and inorganic initiatives, which included the acquisition of Vandermeer Forest Products for $67 million, $35 million of fleet upgrades and distribution branch improvements, and the acquisition of approximately 9% of our outstanding shares through our previously announced $100 million share repurchase program, under which we still have capacity to repurchase shares. These actions demonstrate our steadfast commitment to delivering shareholder value. Our acquisition of Vandermeer Forest Products, a premier wholesale distributor of building products in the Pacific Northwest, was funded with cash on-hand. This acquisition is well-aligned to our specialty product growth strategy and offers us a meaningful growth platform to expand our existing product lines into the region. With the addition of Vandermeer Forest Products, we now have a footprint that serves all 50 states, including direct access to Seattle and Portland, two of the fastest growing metro areas in the United States. In summary, we were deliberate in our approach to strengthen our balance sheet, while pursuing opportunistic investments in organic growth, an accretive acquisition, and repurchases of our equity. Entering a more challenging period in the housing cycle, we expect our strong liquidity to allow us to continue to move forward with strategic investments that should position us to grow our business and produce strong returns for our investors for the long term.