Welcome to our dedicated page for Unifi news (Ticker: UFI), a resource for investors and traders seeking the latest updates and insights on Unifi stock.
UNIFI, Inc. manufactures and sells recycled and synthetic yarns, with company updates centered on REPREVE-branded products, polyester and nylon yarn categories, and segment conditions in the Americas, Brazil and Asia. Its yarns are used by manufacturers, knitters and weavers serving apparel, hosiery, home furnishings, automotive, industrial and other end markets.
Recurring news covers quarterly operating results, cash flow, debt levels, cost and footprint actions, demand volatility, trade and tariff conditions, and product innovation. Product announcements include Luxel, a linen-inspired performance yarn; ThermaLoop insulation powered by REPREVE Textile Takeback; REPREVE Takeback circular polyester; FiberPrint tracer technology; and U-TRUST recycled-content verification.
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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.
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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.