Unifi Stock Price, News & Analysis

Unifi, Inc. (NYSE: UFI) has announced preliminary results for its third fiscal quarter ended April 2, 2023. The company expects net sales between $155 million and $157 million, marking a sequential quarter increase of 14% to 15%. A significant recovery is observed in gross profit, estimated between $9 million and $10 million, improving from a gross loss of $8 million. Additionally, the operating loss is projected to be between $2 million and $3 million, an improvement of $17 million to $18 million sequentially. Adjusted EBITDA is expected between $4 million and $5 million, also reflecting a notable sequential improvement. The company aims for continued growth as market conditions normalize.

Unifi, Inc. (NYSE: UFI) reported second-quarter fiscal 2023 results, revealing net sales of $136.2 million, down 32.4% year-over-year, primarily due to demand disruption in apparel production. The gross loss amounted to $8 million with a gross margin of -5.9%, compared to a profit of $16.9 million and a margin of 8.4% in the previous year. Net loss reached $18 million, or $1.00 per share, against a profit of $0.9 million, or $0.05 per share, last year. Despite these challenges, operating cash flow improved to $7.3 million from a loss of $4 million a year prior. Management remains optimistic about recovering demand in the latter half of the year.

Unifi, Inc. (NYSE: UFI) has announced preliminary results for its second fiscal quarter ended January 1, 2023. The company expects net sales of $135 million to $137 million, reflecting a 24% to 25% decrease compared to the previous quarter, worse than the anticipated 10% to 15%. A negative gross margin is expected between (5.5%) and (6.5%), with an operating loss projected between $19.0 million and $21.0 million. Adjusted EBITDA is expected to be between ($12.0 million) and ($14.0 million). CEO Eddie Ingle cited continued demand disruptions and inventory destocking as significant challenges but remains optimistic about long-term growth and cost-saving measures.

Unifi Inc. (NYSE: UFI) has expanded its Textile Takeback™ program, aiming to recycle polyester-based fabric waste into REPREVE®, a leading recycled performance fiber. This initiative addresses the industry's growing textile waste issue by converting discarded materials into new products, fostering a circular supply chain. With over 35 billion plastic bottles recycled since 1971, Unifi is committed to sustainable innovation. The expanded program will offer accessible sustainable solutions to partners globally, further promoting environmental responsibility, as stated by CEO Eddie Ingle.

Unifi, Inc. (NYSE: UFI) reported Q1 fiscal 2023 results, revealing a net sales decline of 8.4% to $179.5 million due to temporary demand disruptions. Gross profit fell to $6.6 million from $26.1 million, resulting in an operating loss of $4.7 million. Net loss reached $7.8 million, or $0.44 per share, contrasting with a net income of $8.7 million in the prior year. To enhance liquidity, Unifi amended its credit facility, increasing borrowing capacity to $230 million. The outlook remains cautious, with expectations for lower sales in Q2 and ongoing profitability pressures.

Unifi, Inc. (NYSE: UFI) will host a conference call on November 4, 2022, at 8:30 a.m. Eastern Time to discuss its first quarter fiscal 2023 financial results. These results will be available post-market on November 3, 2022, on their website. Interested parties can join the call by dialing (800) 715-9871 for domestic calls or (646) 307-1963 for international calls, using the conference ID 3960476. A replay will be available starting two hours after the call until November 11, 2022. Unifi specializes in synthetic and recycled performance fibers, notably through its REPREVE brand.

Hologenix and Unifi Announce Strategic Partnership

On October 25, 2022, Hologenix and Unifi unveiled a collaboration to create CELLIANT® with REPREVE®, combining infrared wellness benefits with sustainable, recycled materials. CELLIANT harnesses infrared technology for enhanced muscle recovery and performance, while REPREVE is made from 100% recycled materials. The partnership aims to introduce innovative applications across various sectors, leveraging Beverly Knits as their preferred North American manufacturing partner. This collaboration emphasizes sustainability and health benefits, aligning with growing consumer demand for eco-friendly products.