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BXC - BXC - To Recover Market Share Or Capture The Synergies That's The Question
Bluelinx Holdings Inc.
Source: Slideshare
Since my initial article, BlueLinx Holdings Inc (BXC) stock gained 12% but dropped 30% during the earnings call. In this article, I will provide a summary of the latest results, why the market took the results so negative and whether our thesis has changed.
On November 5th, BXC announced 3Q19 results. On the positive side, gross and EBITDA margins improved by 210bps and 89bps respectively. On the negative side, revenues declined 180m to 679m. Almost 40% of that decline was due to deflation in