BlueLinx reports Q4 adjusted EPS $3.97, consensus $3.71

Reports Q4 revenue $847.77M vs. $972.95M a year ago. "Our fourth quarter and full year 2022 were highlighted by strong margin performance and record operating cash flow, demonstrating our ability to generate solid results despite more challenging macro conditions. We continue to strengthen our financial position through robust cash generation, increasing our available liquidity. Throughout 2022, we allocated approximately $170 million of capital towards the acquisition of Vandermeer, capital expenditures that improved the effectiveness of our facilities and our fleet, and share repurchases. Increasing interest rates have significantly slowed new residential construction and to a lesser extent, repair and remodel activity," continued Gibson. "We saw a meaningful deceleration in the demand for building products as the fourth quarter progressed and despite this, we delivered solid results. As we navigate this challenging cycle, our fortress balance sheet provides opportunities to further execute on our strategy. Throughout 2023 we expect that sales volumes and margins will continue to be adversely impacted. Consistent with our actions in 2022, we will continue to drive rigor around pricing and emphasize operational excellence across our business, while adjusting costs as necessary. We will also maintain our disciplined approach to capital allocation to generate shareholder returns," stated Dwight Gibson, President, and CEO of BlueLinx.