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BlueLinx Holdings Inc. (BXC) CEO Dwight Gibson on Q2 2021 Results - Earnings Call Transcript

Aug. 04, 2021 3:08 PM ETBlueLinx Holdings Inc. (BXC)4 Comments
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BlueLinx Holdings Inc. (NYSE:BXC) Q2 2021 Earnings Conference Call August 4, 2021 10:00 AM ET

Company Participants

Alexandra Lucas - IR

Dwight Gibson - President and CEO

Kelly Janzen - CFO

Conference Call Participants

Greg Palm - Craig-Hallum

Reuben Garner - Benchmark Company

Jeffrey Stevenson - Loop Capital


Greetings, and welcome to the BlueLinx Holdings Second Quarter 2021 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce Alexandra Lucas of Investor Relations. Thank you. You may begin.

Alexandra Lucas

Thank you. Welcome to BlueLinx Holdings second quarter 2021 results conference call. Leading the call today are our President and CEO, Dwight Gibson; and Chief Financial Officer, Kelly Janzen. The presentation we are sharing today is available on our website in the Webcast & Presentations section, and we encourage you to follow along accordingly.

Today's discussion contains forward-looking statements about future business and financial expectations. Actual results may differ significantly from those projected in today's forward-looking statements due to various risks and uncertainties, including the risks described in our periodic reports filed with the SEC. Except as required by law, we undertake no obligation to update our forward-looking statements.

We are using non-GAAP financial measures in our presentation. The appropriate GAAP financial reconciliations are incorporated into our presentation where available, which is posted on our website. All percentages in today's discussion refer to year-over-year progress, except where noted. At the conclusion of our prepared remarks, we will open the line for questions.

With that, I would like to turn the call over to Dwight Gibson for his prepared remarks.

Dwight Gibson

Thank you, Alexandra, and good morning.

Before we review our record second quarter results, which by all accounts are a historic achievement for more than 2,100 team members. I want

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Comments (4)

takumi012345 profile picture
Thought that RFP would have shot up in correlation with BXC, but wonder what the difference in sentiment is between these two?
So.. can anybody help me out here? If they blew earnings (over 1.3 billion YoY), with a market cap of around 500 millions.. how much is this supposed to be worth?
Benchmark upped their price target from $75 to $93. That's a 25% increase. Asking them why they think the way they do might give you some meaningful insight and an answer to your question. Josh thinks it's in the 130's.

Personally, I think the market will have to start rewarding the stock with a higher multiple soon. But all of this is based on how desirable BXC is to the market.

There's just over 9m shares in the float. A little bit of volume, buy or sell, for whatever reason (e.g.: buyout or short sellers) can have great impact on price. I think we witnessed a selloff because people were tying the price of the stock to the price of lumber. It may have been a great message for the shorts (who by the way were involved in the sell off) but it didn't work out in reality as the earnings report showed. Please look at BCC as they experienced a similar phenom.

We've got one more day of trading this week and we'll see if this sticks. Lastly, detractors of the stock used the message of "Lumber prices are dropping therefore so should BXC". What message will they use this time?
@jj221155 thanks for the insight! Let’s see what the market has for BXC. Significantly undervalued.
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