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8/04/20 7:22PM
Re: Re: Re: Is anyone still following?
115
Hi Katana,
Thank you for your thoughts. I thought management was confident but cautious on the call and I do feel they think the business has turned given continuously improving margins and clear signs that market... login to read the rest
Guess I wasn't losing my mind... lol
Nice print. But once again, how much of this is higher lumber prices leading to more gross margin dollars on fixed opex/interest? Lumber will mean revert in a few
Not at all. The additional working capital is easily absorbed by the revolver and covenants are EBITDA based which rises with rising lumber. Short term that may limit some room for them to use revolver... login to read the rest
Thanks Katana and Do Em Go
I didn't mean to belittle the misteps they made. But wanted to hear if you thought I've completely lost my mind with the inflection in single family home and lumber,... login to read the rest
Katana,
I completely agree with the urban to suburban trend in helping new home sales for the next few years.
Management credibility here was completely lost following the awful integration. They cut costs too quickly, lost... login to read the rest
Silly question but the last time lumber was over $500, this was in the $30's in 2018.
Since then, they've taken costs out, done some sale/leasebacks, gotten some synnergies. Sure, it didn't play out as the... login to read the rest
Anyone still following this as market cap has shrunk to basically an option on survival?
I was curious if anyone had any thoughts on how the company can benefit from the Fed's new Main Street Lending... login to read the rest
Anyone of the mind that this is not fraudelent and just not put together extremely well?
Typically the offer would have gone to the board first, but Bluefin came out Fri end of day and promised... login to read the rest
Nice work Rosie!
MARIETTA, Ga., Feb. 20, 2020 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building and industrial products in the United States (the “Company”), responded today to a press release... login to read the rest
Hi, guys --
I've seen this sort of thing happen in real time:
https://www.theglobeandmail.com/report-on-business/gold-fields-hoax-shows-investors-too-quick-to-jump/article1073546/
It works better if you're in a bubble. Nice bullshit detector there, Rosie!
Yours,
Bowd
Why isn't the stock at 24.5?
https://www.streetinsider.com/Corporate+News/Bluefin+Acquisition+Launches+%2424.50Share+Tender+for+Minimum+of+35%25+of+Bluelinx+Holdings+%28BXC%29/16502602.html
A friend of mine spoke to IR this morning. FWIW the IR lady, who ithink is clueless, told him that she spoke to mgmt and they have told her that the sale leaseback are on... login to read the rest
if they announce big sale leaseback and/or mortgage transaction, stock will rally 50%. but if they need to raise $50mm here, massive dilution and stock not terribly cheap.
probably worth a flier but why oh why
70% ltv at 5% . . . that seems terribly optimistic.
but they should be able to get something done to raise cash from $100mm of appraised properties.
interesting that this idea came about 5 years because... login to read the rest
Coming equity offering under S-3 filing..
So it seems that mgmt has decided, after the latest poor qtr, that they don't want to operate under the specter of loan covenants that they will easily miss if... login to read the rest
I should note one other negative that has concerned me for a while. Mgmt has been discussing sale-leaseback transactions for years, and the pace has been frustratingly slow. They should have aggressively looked to reduce/eliminate... login to read the rest
shooter: I have been working on this myself. The key seems to be the optionality allowed under the credit agreements and their amendments. Must put our credit analyst hats on here.
From the 10Q: "With the... login to read the rest
I was in BXC when it was a single-digit stock and until a year ago, I was as big a bull as you could find.
But starting a year ago, I began to question my model... login to read the rest
Ugh - I can't think of how that could have gone any worse. Clearly, the topline whiff was not due just to commodity price deflation. The loss of their large siding customer is having a major... login to read the rest
Any thoughts on the share price reaction. Obviously this stock is volatile but a 35% reduction in market cap on decent volume would indicate that the market didn't like something about these results.
So the lumber / panel price headwinds continue, which should not really be a surprise given how much higher they were in Q3 last year. They quantified the impact from commodity pricing deflation at $70m... login to read the rest
Perhaps not most enticing offer just a day before announcement, but with lumber prices on the upward move, another rate cut in the books and positive momentum in single family starts doesn’t this seem like... login to read the rest
Re: stellar "guidance" - market just beginning to catch on
78
I hope they hit those numbers. I had 28M in EBITDA this qtr but one qtr is not relevant in my opinion. I agree with you that Q3 should probably yield EBITDA north of $30M... login to read the rest
I agree with lack of any multi bagger potential from here in short term. Not going to happen but this industry consolidation potential provides long runway for future growth.
Lumber losses area function of year over... login to read the rest
Here's what I don't understand. Numbers this quarter were bad. Any income generated was from gains on sales of properties. Management is blaming lumber prices as well as lower than expected single family housing starts... login to read the rest
Any thoughts on stock here? I thought the call was very good. He said the second half will be better by at least $5-8M in terms of costs and if margins improve they can... login to read the rest
Deerwood,
Do you have any numbers on what cap rate the compan is doing the sale leasebacks at? I thought 6-7% but havent been able to confirm? Have a call into them following the presenation at... login to read the rest
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