BlueLinx Holdings Inc. (NYSE:BXC) Q2 2024 Earnings Conference Call July 31, 2024 10:00 AM ET

Company Participants

Tom Morabito - IR Officer
Shyam Reddy - President and CEO
Andy Wamser - CFO

Conference Call Participants

Jeffrey Stevenson - Loop Capital
Greg Palm - Craig-Hallum Capital Group
Reuben Garner - The Benchmark Company
Kurt Yinger - D.A. Davidson

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the BlueLinx Holdings Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode and today's call is being recorded. We will begin with opening remarks and introductions.

At this time, I would like to turn the conference over to your host, Investor Relations Officer, Tom Morabito. Please go ahead.

Tom Morabito

Thank you, operator, and welcome to the BlueLinx second quarter 2024 earnings call. Joining me on today's call is Shyam Reddy, our President and Chief Executive Officer; and Andy Wamser, our Chief Financial Officer. At the end of today's prepared remarks, we will take questions.

Our second quarter news release and Form 10-Q were issued yesterday after the close of the market along with our webcast presentation, and these items are available in the Investors section of our website, bluelinxco.com. We encourage you to follow along with the detailed information on the slides during the 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 risks described in our most recent SEC filings. Today's presentation includes certain non-GAAP and adjusted financial measures that we believe provide helpful contexts for investors evaluating our business. Reconciliations to the closest GAAP financial measures can be found in the appendix of our presentation.

Now I'll turn it over to Shyam.

Shyam Reddy

Thanks, Tom, and good morning, everyone.

Our second quarter 2024 results demonstrated solid gross margins of approximately 19% in our Specialty Products business despite the impact of continued price deflation relative to prior year comps. Volume growth in key specialty product categories such as millwork, engineered wood products, and siding helped offset declining lumber prices and weaker structural volumes during the quarter. I am proud of my teammates for their hard work to deliver these results in spite of challenging market conditions.

Before turning over to our second quarter results, I would like to note BlueLinx's 20th anniversary as a public company this year. While our origins date back to 1954 as a division of Georgia Pacific, we spent the last 20 years building the largest pure-play two-step building products distributor in the U.S.