BlueLinx Holdings (BXC) Q2 FY2022 earnings: revenue $1.2 billion, down 5.2% on the year

BlueLinx Holdings Inc. (BXC) reported revenue of $1.2 billion for Q2 FY2022, the quarter ended 2 July 2022, down 5.2% on the same quarter a year earlier as this quarter's filing gives it. Net income was $71 million, down 37.2% on the year as this quarter's filing gives it, and diluted earnings per share $7.48. The figures are the company's own, from the 10-Q it filed with the SEC on 2 August 2022.

Revenue$1.2 billiondown 5.2% on the year

Net income$71 milliondown 37.2% on the year

Diluted EPS$7.48

QuarterQ2 FY2022ended 2 July 2022

The quarter, against the one before and a year earlier

Line	Q2 FY2022	Q1 FY2022	A year earlier	Change on the year
Revenue	1,239	1,302	n/a	n/a
Cost of revenue	1,038	1,011	n/a	n/a
Gross profit	201	291	n/a	n/a
Gross margin	16.3%	22.3%	n/a
Selling, general and administrative	91.3	91.3	n/a	n/a
Operating income	104	193	n/a	n/a
Operating margin	8.4%	14.8%	n/a
Interest expense	11.3	11.3	n/a	n/a
Pre-tax income	92.7	181	n/a	n/a
Income tax	21.4	47.3	n/a	n/a
Effective tax rate	23.1%	26.2%	n/a
Net income	71.3	133	n/a	n/a
Net margin	5.8%	10.2%	n/a
Diluted EPS	$7.48	$13.19	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2022	Q1 FY2022	A year earlier	Change on the year
Operating cash flow	101	2.2	n/a	n/a
Capital expenditure	4.4	2.5	n/a	n/a
Free cash flow	96.8	-0.3	n/a	n/a
Free cash flow margin	7.8%	-0.0%	n/a
Cash from investing	-3.9	-2.5	n/a	n/a
Cash from financing	-66.8	-10.5	n/a	n/a
Depreciation and amortisation	6.5	6.7	n/a	n/a
Share-based compensation	1.8	2.2	n/a	n/a
Buybacks	60.0	6.4	n/a	n/a
Diluted shares, weighted	10m	10m	n/a	n/a
Shares outstanding at period end	9m	10m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2022	Q1 FY2022	A year earlier	Change on the year
Shareholders' equity	500	492	n/a	n/a
Debt	292	292	n/a	n/a
Operating lease liabilities	42.1	41.7	n/a	n/a
Finance lease liabilities	263	265	n/a	n/a
Other liabilities	413	444	n/a	n/a
Total liabilities and equity	1,510	1,534	n/a	n/a
Goodwill	47.8	47.8	n/a	n/a
Intangible assets	11.9	12.5	n/a	n/a
Cash and equivalents	105	74.4	n/a	n/a
Receivables	423	497	n/a	n/a
Inventory	578	563	n/a	n/a
Other assets	345	340	n/a	n/a
Total assets	1,510	1,534	n/a	n/a

Questions

What was BlueLinx Holdings' revenue in Q2 FY2022?

BlueLinx Holdings (BXC) reported revenue of $1.2 billion for Q2 FY2022, the quarter ended 2 July 2022, down 5.2% on the same quarter a year earlier as the company restated it.

How much did BlueLinx Holdings earn in Q2 FY2022?

Net income for Q2 FY2022 was $71 million, down 37.2% on the year, and diluted earnings per share $7.48.

When did BlueLinx Holdings report Q2 FY2022 results?

BlueLinx Holdings filed its 10-Q for the quarter ended 2 July 2022 with the SEC on 2 August 2022.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	971	973	1,302	1,239	1,061	848	798	816	810	713	726	768	747	711	709	780	749	716	731	814
Cost of revenue	818	779	1,011	1,038	871	697	664	680	671	594	599	646	622	597	598	660	641	603	615	674
Gross profit	153	194	291	201	189	151	134	136	139	118	128	122	126	113	111	120	108	113	116	140
Gross margin	16%	20%	22%	16%	18%	18%	17%	17%	17%	17%	18%	16%	17%	16%	16%	15%	14%	16%	16%	17%
SG&A	76.2	83.5	91.3	91.3	91.7	92.0	91.2	88.8	91.4	84.5	91.2	89.5	92.2	92.6	94.1	95.3	89.3	102	96.2	107
Operating income	71.0	110	193	104	90.7	51.1	32.5	39.1	39.7	27.2	27.7	23.8	24.0	12.0	10.7	15.0	10.0	-3.2	7.3	20.6
Operating margin	7%	11%	15%	8%	9%	6%	4%	5%	5%	4%	4%	3%	3%	2%	2%	2%	1%	-0%	1%	3%
Interest expense	8.3	11.8	11.3	11.3	10.4	9.3	7.7	6.3	5.6	4.2	4.6	11.2	11.7	11.2	12.1	12.6	12.5	12.4	12.2	12.3
Pre-tax income	63.4	98.5	181	92.7	80.6	40.7	24.2	32.2	33.5	-8.0	23.0	19.0	21.6	7.0	4.1	6.6	1.4	-12.0	-1.8	11.2
Tax rate	26%	25%	26%	23%	26%	21%	26%	24%	27%	n/a	24%	25%	26%	24%	32%	34%	-21%	n/a	n/a	43%
Net income	47.2	73.6	133	71.3	59.5	32.0	17.8	24.5	24.4	-18.1	17.5	14.3	16.0	5.3	2.8	4.3	1.7	-8.6	-1.5	6.4
Net margin	5%	8%	10%	6%	6%	4%	2%	3%	3%	-3%	2%	2%	2%	1%	0%	1%	0%	-1%	-0%	1%
Diluted EPS	$4.74	$7.36	$13.19	$7.48	$6.38	$3.50	$1.94	$2.70	$2.71	-$2.08	$2.00	$1.65	$1.87	$0.62	$0.33	$0.54	$0.20	-$1.05	-$0.18	$0.81
Operating cash flow	104	18.2	2.2	101	143	154	89.0	64.2	77.6	75.6	-31.1	35.8	61.8	18.7	-33.9	-26.8	58.6	61.8	-57.2	11.2
Capital expenditure	2.5	9.0	2.5	4.4	12.2	16.8	9.0	5.0	4.9	8.6	5.4	6.5	7.9	20.3	5.9	9.6	5.9	5.4	2.6	2.4
Free cash flow	102	9.2	-0.3	96.8	130	137	80.0	59.1	72.7	67.0	-36.6	29.3	53.8	-1.5	-39.8	-36.4	52.7	56.4	-59.8	8.8
Buybacks	0.0	0.0	6.4	60.0	0.0	0.0	0.0	11.6	17.7	12.8	0.0	14.5	15.5	15.3	15.0	20.4	2.7	0.0	2.8	2.6
Shares outstanding	10m	10m	10m	9m	9m	9m	9m	9m	9m	9m	9m	9m	8m	8m	8m	8m	8m	8m	8m	8m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 2 July 2022, filed 2 August 2022: the filing.