BLUELINX HOLDINGS INC BXC
December 09, 2015 - 12:42pm EST by
member
| 2015 | 2016 | ||||||
| Price: | 0.55 | EPS | -.15 | 0 | |||
| Shares Out. (in M): | 89 | P/E | n/a | 0 | |||
| Market Cap (in $M): | 48 | P/FCF | 0 | 0 | |||
| Net Debt (in $M): | 462 | EBIT | 14 | 0 | |||
| TEV (in $M): | 510 | TEV/EBIT | 36 | 0 | |||
Description
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| 47 | |
Forestry equities rise intraday as BofAML analyst George Staphos becomes more positive on the wood and timber sector; sees upside to Oriented Strand Board (OSB) pricing in 1H and upgraded Weyerhaeuser, Louisiana-Pacific.
Sees demand growth of 4%-5% for OSB,... login to read the rest | |
| 46 | |
Interesting approach with the four sale leasebacks which I like a lot. Glad to see more restricted shares going out and hoping to see more alignment with total share price when the proxy comes out.
The... login to read the rest | |
| 45 | |
Got another one for anybody who can chime in. In the writeup, it is said that "Its efficient, IT enabled logistics platform allows the company to order large, break bulk and deliver smaller quantities to... login to read the rest | |
| 44 | |
One other thought / question is that they sold only 4 DCs for proceeds of $100MM leaving BXC owning 33 remaining properties. Does anyone have a sense if these were some of the better properties... login to read the rest | |
| 42 | |
I was planning on reposting...lot of good things have happened. Pretty well have a writeup ready to go, but wanted to wait a few more days until my annual requirement date turns over. I think | |
| 40 | |
Thoughts on the recent announcement of the SLB?
Looks very positive and ahead of schedule, surprised the stock isn't trading higher.
I am definitely a buyer here, am I missing something? | |
| 39 | |
gocanucks - I would look at the slides they just posted, which will hopefully answer your question. Page 7 highlights the working capital, which I would expect to show some modest rolloff due to seasonality... login to read the rest | |
| 37 | |
What real estate do they actually own? And is it real estate you want to own in the long term? Thanks. | |
| 36 | |
Good thoughts Banjo. Agree that it's nice to see the insiders step in with a cluster buy and I read the impact to near term real estate monetization similarly. Even so, I don't think some... login to read the rest | |
| 34 | |
Agreed straw. And to answer your question below, that looks like a clear error in the original write-up. Much better to use the current numbers of $169M gross federal. Apologies. | |
| 33 | |
zipper,
You have gone above and beyond on the NOLs and Section 382. Your detail squares with my reading of Section 382. Thank you.
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| 30 | |
any idea why it's stubbornly hanging out at $8? it seemed like it had a decent base and was chugging north of $10 before the deal.
i assume it's still flow back from the block that | |
| 27 | |
uncleM,
your original report state $2bn of NOLs, but I cannot find that number or anything close in past 3 10-K's. Did you mean $200mm in NOLs rather than $2bn?
thanks | |
| 26 | |
zipper,
The final prospectus language certainly supports your argument. The shrs sold by Cerberus (including greenshoe) are a hair less than 50% of current 9.1mm shrs outstanding, but the shrs sold by other 5% holders in... login to read the rest | |
| 25 | |
Good insight here into the NOLs and this comports with my understanding entering the transaction per mgmt. The short of it is, the NOLs would be preserved for use in offsetting all real estate gains... login to read the rest | |
| 20 | |
zipper,
I am also no tax expert, but I do not understand your answer. I do not understand notion about CoC of debt versus the equity. Why is debt relevant here at all? I did not... login to read the rest | |
| 18 | |
I see that Cerberus sold less than their full position. Intentionally to avoid triggering CoC. But now Cerberus still has small position worth several million dollars that they cannot sell for 3 years, right?
I am... login to read the rest | |
| 17 | |
Everyone's favorite topic: What happens to NOLs here? Does this trigger a Section 382 CoC? Any explanation would be appreciated.
Is the reason they are doing a secondary to avoid triggering a Section 382 CoC?
Thanks | |
| 15 | |
Do you know if any insiders have made a commitment to participate in the offering and by what magnitude? If not, what do you think of current alignment? Thanks on advance. | |
| 13 | |
Zipper - Thanks for the helpful updates. All of that foots with everything I've learned from mgmt in my discussions with them. They have continued to state that Cerberus became very hands off after they... login to read the rest | |
| 10 | |
Interesting tidbit on the management hint. Makes sense. Also, it was nice to get confirmation that all their DCs etc were spared by the storm and are fully operational. | |
| 8 | |
Agree on both accounts. A near term sale seems unlikely and I think it's a short term question mark for shares as it's tough to handicap the process of how the shares get moved. On... login to read the rest | |
| 6 | |
Good points Banjo. Curious to hear your take on 1Q. I initially thought the 2.1% same-center topline was a pretty big disappointment vs SF starts +6 and some expectation for a couple points worth of... login to read the rest | |
| 2 | |
Banjo - Apologies for the delay on replying, but I haven't been paying a ton of attention to the board on this one as it hasn't gotten a whole lot of attention (probably b/c of... login to read the rest | |