BlueLinx Holdings Inc. (NYSE:BXC) Q2 2022 Earnings Conference Call August 3, 2022 10:00 AM ET

Company Participants

Ryan Taylor - Vice President of Investor Relations

Dwight Gibson - President and CEO

Kelly Janzen - Chief Financial Officer

Conference Call Participants

Greg Palm - Craig-Hallum

Kurt Yinger - D.A. Davidson

Reuben Garner - The Benchmark Company

Jeff Stevenson - Loop Capital Markets

Operator

Greeting, and welcome to the BlueLinx Holdings’ Second Quarter 2022 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Ryan Taylor, Vice President of Investor Relations. Thank you. You may begin.

Ryan Taylor

Thank you, Operator, and good morning, everyone. And welcome to the BlueLinx Holdings’ second quarter 2022 earnings call. Presenting today are Dwight Gibson, President and CEO of BlueLinx; and Kelly Janzen, our Chief Financial Officer. Our second quarter news release and Form 10-Q were issued yesterday after the close of the market along with our webcast presentation. These items are available in the Investors section of our Web site, bluelinxco.com. We encourage you to follow along with the detailed information on the slides during our webcast. Today's discussion contains forward-looking statements, actual results may differ significantly from those forward-looking statements due to various risks and uncertainties, including the risk described in our most recent SEC filings. Today's presentation includes certain non-GAAP and adjusted financial measures that we believe provide helpful context for investors evaluating our business. Reconciliations to the closest GAAP financial measure can be found in the appendix of our presentation. At the conclusion of our prepared remarks, we will open the line for questions.

With that, I'll turn the call over to Dwight.

Dwight Gibson

Thanks, Ryan, and good morning, everyone. Thank you for joining us on the call today. Before I get started, I want to acknowledge Leroy [Diggs], a material handler at our Richmond branch and congratulate him on celebrating 50 years of outstanding service to BlueLinx. Leroy exemplifies our core value of teamwork and we thank him for his commitment and dedication to the company. It is people like Leroy who make BlueLinx a great place to work. It continues to be an exciting time to BlueLinx and a dynamic period for the US housing industry. Our first half financial results are the best combination of first half results in our company's history. We delivered $2.5 billion of sales, $314 million of adjusted EBITDA and $97 million of free cash flow. As compared to the first half of 2021, a period of historically strong demand, we grew sales by 9% and adjusted EBITDA by 15% while generating operating cash about 5 times greater than the prior year period. This represents our most profitable first half ever.