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BlueLinx Holdings Inc. (NYSE:BXC), a leading distributor of building and industrial products with a market capitalization of $534.5 million and strong liquidity position, announced the results of its Annual Meeting of Stockholders held on May 15, 2025. The meeting saw the election of eight directors to its board, the ratification of Ernst & Young LLP as its independent auditor for the fiscal year ending January 3, 2026, and the approval of an advisory resolution on executive compensation.
A total of 7,256,822 shares were represented at the meeting, out of 8,180,454 shares issued and outstanding as of the record date, March 18, 2025, ensuring a quorum was present.
The stockholders elected Anuj Dhanda, Kim S. Fennebresque, Keith A. Haas, Mitchell B. Lewis (JO:LEWJ), Shyam K. Reddy, J. David Smith, Carol B. Yancey, and Marietta Edmunds Zakas to the board of directors. Each nominee received a significant majority of the votes cast, with the number of broker non-votes ranging from 925,403 to 925,403 for each director.
In the second proposal, the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm was ratified with 7,204,805 votes in favor, 50,020 against, and 1,997 abstentions.
The third proposal, an advisory vote on executive compensation, received 5,759,701 votes for, 562,625 against, and 9,093 abstentions with 925,403 broker non-votes.
The announcement confirms the company’s compliance with SEC regulations and reflects the stockholders’ support for the current management and strategic direction. The stock, currently trading near its 52-week low of $63.55 and down over 43% in the past six months, appears undervalued according to InvestingPro analysis. Discover 11 more exclusive InvestingPro Tips and comprehensive financial metrics in the Pro Research Report, available with your subscription. The information is based on a press release statement and InvestingPro data.
In other recent news, BlueLinx Holdings Inc. reported its first-quarter 2025 earnings, which missed both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.27, slightly below the projected $0.28, and revenue reached $709 million, falling short of the anticipated $717.5 million. This marks a 2% year-over-year decline in net sales, with specialty product sales decreasing by 5% while structural product sales increased by 3%. Despite the earnings miss, BlueLinx continues to focus on digital transformation and expanding its product offerings. The company remains optimistic about the long-term demand for its products, estimating that 1.5 million homes need to be built annually over the next decade. Challenges such as pricing volatility in specialty products and macroeconomic uncertainties continue to impact performance. Analysts have not provided recent upgrades or downgrades, but the company is committed to its strategic priorities, including exploring mergers and acquisitions to expand its geographic reach.
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