MARIETTA, Ga. — BlueLinx Holdings Inc. reported net income of $14.3 million on $768.4 million in revenue during the second quarter representing. Those financial metrics represented a nearly 42% decrease in net income and 6% decrease in revenue that were reported during the same period in 2023.

Net sales of specialty products, which includes products such as engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products, were $539 million, a decrease of $32 million, or 5.5% when compared to the second quarter of 2023. Bluelinx attributed this decrease to price deflation across specialty products, partially offset by a slight increase in volumes.

Net sales of structural products, which includes products such as lumber, plywood, oriented strand board, rebar, and remesh, decreased $16 million, or 6.6% when compared to the second quarter of 2023, to $229 million in the second quarter of 2024. The decrease in structural sales, BlueLinx said, was due primarily to lower volumes and a decline in its lumber selling prices which generally correlated to a year-over-year decline in the average composite price of framing lumber of 6%.

“Our second quarter results were highlighted by solid volume growth in several of our key specialty product categories despite a challenging macro environment,” said Shyam Reddy, president and CEO of BlueLinx. “We also generated solid specialty product gross margins of approximately 19%, despite the effects of price deflation. The quarter was adversely impacted by structural products, primarily driven by declining lumber and panel prices, in addition to volume declines due to challenges in the housing and building products sector. Although current market conditions are challenging, we believe we are well-positioned for long-term success because our vision is supported by a well-defined sales growth strategy, strong liquidity, and minimal debt.”