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. (NYSE: UFI) generates a steady flow of news related to its role in fiber science, sustainable synthetic textiles, and recycled polyester and nylon yarns. Investors and industry followers can use this page to review company announcements about financial performance, restructuring initiatives, and product innovation tied to its REPREVE recycled fiber and resin platform.
Recent press releases have covered quarterly and annual earnings results, including net sales trends, gross profit or loss, segment performance in the Americas, Brazil, and Asia, and the use of non-GAAP measures such as Adjusted Net Loss and Adjusted EBITDA. These updates often discuss the impact of trade and tariff-related uncertainty, demand volatility, and foreign currency effects, as well as management’s profit improvement plans and cost-saving actions.
Unifi’s news flow also highlights strategic moves in its manufacturing footprint, such as the closure and sale of a Madison, North Carolina facility and the relocation of production capacity to other locations in North and Central America. The company links these developments to efforts to reduce debt, strengthen its balance sheet, and enhance operating efficiency.
Product and technology announcements form another key part of UFI news. Examples include the launch of A.M.Y. Peppermint, a naturally deodorizing yarn using peppermint oil; the expansion of REPREVE Takeback and ThermaLoop insulation made from textile waste; and the introduction of Fortisyn abrasion-resistant yarn for military and tactical applications. Visitors can also find notices of earnings conference calls, sustainability updates, and recognition for innovations such as ThermaLoop insulation in design and sustainability awards. Bookmark this page to review Unifi’s official communications and track how its strategy in recycled and synthetic yarns evolves over time.
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.
Unifi, Inc. (NYSE: UFI) has appointed Frank Blake to its Board of Directors, effective September 5, 2022. Blake brings extensive leadership experience, previously serving as CEO and Chairman of The Home Depot and as Chairman of Delta Air Lines. His expertise in commercial excellence is expected to enhance Unifi’s growth trajectory, particularly in sustainability practices. Al Carey, Executive Chairman, expressed confidence in Blake’s contributions towards maintaining Unifi’s market leadership in recycled and synthetic yarns, including their flagship product, REPREVE.
Unifi, Inc. (NYSE: UFI) reported strong fourth-quarter results for fiscal 2022, with net sales of $217.6 million, an 18% increase from fiscal 2021. However, gross profit declined to $18.4 million, a 33% decrease, leading to an operating income of $5.0 million and net income of $3.5 million, or $0.19 EPS. Looking ahead, Unifi expects fiscal 2023 sales to grow by at least 5%, targeting net sales between $855 million and $885 million. Despite ongoing inflationary pressures, the company aims for improved performance throughout the year.
Unifi, Inc. (NYSE: UFI) will host a conference call on August 11, 2022, at 8:30 a.m. ET, to discuss its fourth quarter fiscal 2022 financial results. These results will be available post-market on August 10, 2022. Interested parties can access the call via phone at (800) 715-9871 or through a live audio webcast on their website. A replay will be available starting two hours after the call until August 18, 2022. Unifi, known for its REPREVE technology, has transformed over 30 billion plastic bottles into recycled fibers for various applications.
Unifi, Inc. (NYSE: UFI) repurchased 500,000 shares for $6.8 million in May 2022, contributing to a total of 616,500 shares repurchased this fiscal year for $9.2 million. Approximately $38.9 million remains available under the buyback program. Leadership changes include Greg Sigmon's appointment as Executive Officer and the transition of Mauro Fernandes to President of Unifi do Brasil, replacing retiring Lucas de Carvalho Rocha. Additionally, board member Jim Kilts retired, reducing the Board to eight members.
Unifi, Inc. (NYSE: UFI) showcased sustainable innovations at the Summer Outdoor Retailer Show in Denver from June 9-11, 2022. They introduced the U TRUST Product Certification for enhanced supply chain transparency and their REPREVE SmartDye™ technology, claiming up to 30% energy savings in dyeing processes. CEO Eddie Ingle emphasized the importance of verifiable sustainability claims. With over 30 billion plastic bottles transformed into recycled fibers, Unifi continues to lead in eco-friendly textile solutions.
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Unifi, Inc. (NYSE: UFI) reported third-quarter fiscal 2022 results, highlighting net sales of $200.8 million, a 12.3% increase year-over-year, driven by strong demand for REPREVE® Fiber products, which constituted 36% of sales. Despite the growth, gross profit fell to $19.1 million from $25.6 million due to rising input costs, leading to a gross margin decline to 9.5%. Net income was $2.1 million, or $0.11 per share, down from $4.8 million, while adjusted EBITDA decreased to $12.2 million. The company's outlook anticipates net sales of $810 million or more for FY2022, despite challenges from ongoing lockdowns in China.
Unifi, Inc. (NYSE: UFI) will host a conference call on April 28, 2022, at 8:30 a.m. ET to discuss its third-quarter fiscal 2022 financial results, which will be available post-market on April 27, 2022. The call can be accessed at investor.unifi.com. A replay will be available for one week post-call. Unifi is a leader in producing synthetic and recycled performance fibers, transforming over 30 billion plastic bottles into sustainable products through its proprietary REPREVE technology.
Unifi, Inc. (UFI) hosted an investor event to outline ambitious plans for growth, targeting $1.1 billion in revenue by fiscal 2025. Highlights include expected fiscal 2022 revenues surpassing $800 million and gross margins of 14-15%. The company aims to increase REPREVE Fiber products to 50% of consolidated revenues by 2025 and transform 50 billion plastic bottles by December 2025. Initial positive results from new machinery installations were also discussed.