BlueLinx reports Q1 adjusted EPS 27c, consensus 26c

Reports Q1 revenue $709M, consensus $713.88M. “Our first quarter results demonstrated our continued ability to drive profitable sales, despite challenging weather and market conditions,” said Shyam Reddy, President, and CEO of BlueLinx (BXC). “We are pleased with maintaining solid margins in both specialty products and structural products during the quarter. While current market conditions remain uncertain, we are well-positioned to benefit from an industry recovery given our strong balance sheet, ample liquidity and our continued success executing our long-term profitable sales growth strategy. In addition, we once again returned capital to shareholders by repurchasing $15 million worth of our shares in the quarter. At the end of March, we had $31 million remaining on our share repurchase authorization and remain committed to repurchasing shares opportunistically under this authorization.”