BlueLinx Holdings Inc
For the period ended Mar 30, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 30, 2024 · Filed Apr 30, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
| ☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended March 30, 2024
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
Commission file number:001-32383
BlueLinx Holdings Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 77-0627356 | |
|---|---|---|
| (State of Incorporation) | (I.R.S. Employer Identification No.) | |
| 1950 Spectrum Circle, Suite 300 | ||
| Marietta | GA | 30067 |
| (Address of principal executive offices) | (Zip Code) | |
(770)953-7000
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | BXC | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑No ☐
Indicate by check mark whether the registrant has submitted electronically (Section 232.405 of this chapter) every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large Accelerated Filer | ☑ | Accelerated Filer | ☐ | Non-accelerated Filer | ☐ | Smaller Reporting Company | ☐ |
|---|---|---|---|---|---|---|---|
| Emerging Growth Company | ☐ | ||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☑
As of April 26, 2024, there were 8,661,741 shares of BlueLinx Holdings Inc. common stock, par value $0.01, outstanding.
Form 10-Q
For the Quarterly Period Ended March 30, 2024
| PAGE | |
|---|---|
| PART I. FINANCIAL INFORMATION | |
| Item 1. Financial Statements — BlueLinx Holdings Inc. (Unaudited) | 1 |
| Condensed Consolidated Statements of Operations and Comprehensive Income | 1 |
| Condensed Consolidated Balance Sheets | 2 |
| Condensed Consolidated Statements of Stockholders' Equity | 3 |
| Condensed Consolidated Statements of Cash Flows | 4 |
| Notes to Condensed Consolidated Financial Statements | 5 |
| Note 1 - Basis of Presentation and Significant Accounting Policies | 5 |
| Note 2 - Inventories | 6 |
| Note 3 - Goodwill and Other Intangible Assets | 7 |
| Note 4 - Revenue Recognition | 8 |
| Note 5 - Debt and Finance Leases | 9 |
| Note 6 - Net Periodic Pension Cost | 11 |
| Note 7 - Share-Based Compensation | 11 |
| Note 8 - Lease Commitments | 11 |
| Note 9 - Commitments and Contingencies | 15 |
| Note 10 - Accumulated Other Comprehensive Loss | 15 |
| Note 11 - Income Taxes | 15 |
| Note 12 - Earnings Per Share and Stockholders' Equity | 16 |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 17 |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk | 25 |
| Item 4. Controls and Procedures | 25 |
| PART II. OTHER INFORMATION | |
| Item 1. Legal Proceedings | 26 |
| Item 1A. Risk Factors | 26 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 27 |
| Item 3. Defaults Upon Senior Securities | 27 |
| Item 4. Mine Safety Disclosures | 27 |
| Item 5. Other Information | 27 |
| Item 6. Exhibits | 28 |
| Signatures | 29 |
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