Welcome to our dedicated page for Unique Fabricating news (Ticker: UFAB), a resource for investors and traders seeking the latest updates and insights on Unique Fabricating stock.
Unique Fabricating, Inc. (NYSE American: UFAB) is a prominent engineering and manufacturing company headquartered in Auburn Hills, Michigan. The company specializes in creating multi-material foam, rubber, and plastic components that are essential for noise, vibration, and harshness (NVH) management as well as air and water sealing applications. These components are widely used across various industries, including transportation, appliance, medical, and consumer/off-road markets.
Unique Fabricating leverages advanced manufacturing processes such as die cutting, thermoforming, compression molding, fusion molding, and reaction injection molding. Their diverse product range includes but is not limited to air management products, HVAC systems, seals, engine covers, fender stuffers, air ducts, acoustical insulation, door water shields, gas tank pads, light gaskets, topper pads, mirror gaskets, glove box liners, personal protection equipment, and packaging solutions.
In the recent news, Unique Fabricating issued a press release on July 28, 2023, responding to increased trading activity of its common stock. Despite the heightened trading levels, the company confirmed that there were no specific announcements or events to account for this activity. This situation underscores the market's interest and confidence in Unique Fabricating's robust operations and future prospects.
The company conducts detailed cost estimating for various parts based on material, labor, and packaging considerations. They perform step-by-step labor cost analysis, configure packaging costs, and design packaging patterns, ensuring a thorough cost breakdown for different customers. Unique Fabricating also automates tasks and generates comprehensive reports using Microsoft Excel, which aids in analyzing profit margins across various jobs.
With a focus on continuous innovation and maintaining high standards, Unique Fabricating has formed strategic partnerships and consistently delivered quality products. This commitment has enabled the company to sustain its competitive edge and achieve financial stability, making it a reliable choice for investors and business partners alike.
Unique Fabricating, Inc. (NYSE American:UFAB) finalized a $1 million debt financing from current investors as part of a total $4 million financing package. The financing includes pay-in-kind notes with a 12% annual interest rate, and investors will receive warrants for 120,000 shares at an exercise price of $0.52. The funds will be used to reduce existing bank loans and revolving credit borrowings significantly. The first $3 million tranche was completed on October 4, 2022.
Unique Fabricating has secured a $3 million debt financing agreement with existing equity investors and amendments to its bank lending agreement. This financing, part of a proposed total of $4 million, aims to enhance liquidity and support the company's refinancing efforts. The notes have a 12% interest rate and will be secured by expected Employee Retention Credits. The company engaged B. Riley & Co. for a comprehensive refinancing strategy, reflecting ongoing operational improvements and lender collaboration while navigating industry challenges.
Unique Fabricating, Inc. (NYSE American:UFAB) reported a second quarter 2022 net sales of $35.0 million, up from $30.9 million in Q2 2021. The company recognized a $3.0 million employee retention credit, mitigating some operational costs. However, a $12.2 million goodwill impairment charge led to a net loss of $10.7 million or $0.91 per share. Total debt decreased to $47.7 million. Despite challenges in sourcing and operations, Unique Fabricating secured $46 million in new orders this year, indicating positive future growth potential.
Unique Fabricating (NYSE American: UFAB) announced it will release its second quarter financial results for the period ending June 30, 2022, on August 11, 2022, after market close. The company's CEO Doug Cain and CFO Brian Loftus will host a conference call at 4:30 p.m. ET the same day to discuss results. Investors can access the call by dialing 844-369-8770 or via a live webcast on the company's Investor Relations website. The webcast will be available for replay for at least 90 days.
Unique Fabricating (NYSE American: UFAB) reported its first quarter financial results, showing net sales of $35.3 million, a slight increase from $34.8 million in Q1 2021. The company recorded a net loss of $0.6 million ($0.05 per share), improved from a net loss of $1.1 million ($0.11 per share) year-over-year. Total debt decreased by $1.4 million to $47.0 million. Gross profit was $4.8 million (13.5% of sales), down from $5.9 million (16.8% of sales) a year earlier, yet improved sequentially from $3.0 million in Q4 2021.
Unique Fabricating, Inc. (NYSE American:UFAB) will release its Q1 2022 financial results on May 12, 2022. Following the release, a conference call led by CEO Doug Cain and CFO Brian Loftus will occur at 4:30 p.m. ET to discuss the results. Investors can participate by dialing 888-506-0062 or visiting the company’s Investor Relations website for a live webcast. A replay will be available for 90 days. Unique Fabricating specializes in manufacturing multi-material components for various industries including transportation and medical.
Unique Fabricating, Inc. (NYSE American:UFAB) reported its fourth quarter and full-year 2021 financial results on March 24, 2022. The company experienced a decline in net sales for Q4, totaling $30.1 million, down from $35.0 million in Q4 2020. The net loss for Q4 2021 was $1.5 million, or $0.13 per share, compared to a net loss of $82.0 thousand in Q4 2020. For the full year, net sales increased by 4.5% to $125.7 million, but the net loss widened to $7.0 million. Concerns were raised about the company's going concern status amid debt challenges and cash flow issues.
Unique Fabricating, Inc. (NYSE American:UFAB) has announced the rescheduling of its fourth-quarter earnings release and conference call from March 17, 2022, to March 24, 2022. The delay is attributed to additional time needed for completing the year-end audit based on the updated timeline from auditors. The conference call will be hosted by President Doug Cain and CFO Brian Loftus at 4:30 p.m. ET on the new date. The live call will be accessible via phone or webcast, with replays available for an extended period.
Unique Fabricating (NYSE American:UFAB) plans to release its fourth-quarter financial results for the year ending December 31, 2021, on March 17, 2022, after market close. The report will be discussed in a conference call at 4:30 p.m. ET that day, hosted by President Doug Cain and CFO Brian Loftus. Investors can participate by calling 888-506-0062 or via live webcast at the company's Investor Relations website. A replay of the call will be available for 90 days, ensuring accessibility for stakeholders.
Unique Fabricating (NYSE American: UFAB) announced that its Auburn Hills, Michigan facility achieved Q1 certification as of January 26, 2022. This certification underscores the company's commitment to high service levels and quality, evidenced by zero customer complaints and best-in-class performance metrics. It positions Unique Fabricating as a preferred supplier to Ford, enhancing its competitive edge. The company aims to secure similar certification at its Querétaro, Mexico, and LaFayette, Georgia facilities to strengthen relationships with automakers.
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