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. (UFAB) delivers essential engineering solutions for noise reduction and precision sealing across transportation, medical, and industrial markets. This news hub provides investors and industry professionals with timely updates on the NYSE American-listed company's strategic developments.
Access official press releases detailing financial performance, manufacturing innovations, and leadership updates. Our curated collection includes earnings reports, product launch announcements, and operational milestones that demonstrate UFAB's market leadership in multi-material component solutions.
Key updates cover advancements in die cutting and thermoforming technologies, partnership developments, and responses to market activity like the July 2023 trading volume statement. Content is organized for quick scanning while maintaining technical accuracy across NVH management and sealing system topics.
Bookmark this page for direct access to UFAB's verified corporate communications. Check regularly for updates on automotive sector contracts, medical equipment components, and operational efficiency initiatives that drive long-term value creation.
Unique Fabricating, Inc. (NYSE: UFAB) has appointed George L. Taylor as Chief Operating Officer, a role aimed at enhancing supply chain initiatives and operational excellence. Taylor, who joined the company in September 2021 as Director of Engineering, has previously held significant roles in the automotive industry, including General Manager at Mubea Inc. His leadership promises improved operational efficiency and responsiveness to supply chain challenges. Unique Fabricating focuses on producing multi-material components for various industries, including automotive and consumer markets.
Unique Fabricating, Inc. (NYSE American: UFAB) announced a Third Amendment to Forbearance Agreement with its lenders regarding its credit agreement. The company has been in violation of the Minimum Consolidated EBITDA Covenant but the lenders agreed to suspend this covenant for the remainder of the forbearance period, which ends on February 28, 2022. A new covenant relating to weekly cash disbursements will be enacted, while the borrowing limit under the revolving credit line has been reduced to $25 million from $27 million. The company plans to negotiate a waiver to address these defaults.
Unique Fabricating (UFAB) reported a net loss of $1.9 million for Q3 2021, compared to a net income of $1.0 million during the same period in 2020. Net sales declined to $29.9 million, down from $35.6 million in Q3 2020, primarily due to supply chain disruptions and labor shortages. Gross profit also decreased to 11.0% of net sales. On a positive note, net debt reduced to $46.4 million and the company successfully issued 1,954,000 shares for approximately $4.4 million. However, compliance issues with financial covenants pose a risk to future borrowing.
Unique Fabricating, Inc. (NYSE American: UFAB) will release its third quarter financial results for the period ending September 30, 2021, on November 15, 2021, after market close. A conference call will follow at 4:30 p.m. ET, hosted by President Doug Cain and CFO Brian Loftus, to discuss the results. Interested parties can join the call by dialing 877-545-0523 and reference conference ID 497686. A recorded version will be available for replay for 90 days on the company's Investor Relations website. Unique Fabricating specializes in multi-material components for the transportation and consumer markets.
Unique Fabricating (NYSE American:UFAB) raised approximately $4.4 million through a private offering, selling 1,954,000 shares at $2.25 each. The net proceeds of $4,044,780 will primarily be used to reduce debt under its revolving credit facility. The company amended its Forbearance Agreement with lenders to address financial covenants impacted by a semiconductor shortage affecting automotive demand. The placement agent for this offering was Taglich Brothers, which also received warrants for 156,320 shares at $3.12 per share.
Unique Fabricating, Inc. (NYSE: UFAB) reported second quarter 2021 financial results, revealing net sales of $30.9 million, significantly up from $15 million a year prior. Despite increasing sales, the company faced a net loss of $2.5 million, slightly improving from the $4.3 million loss in Q2 2020. Net debt rose to $53.6 million, indicating financial strain. The company is addressing operational challenges linked to labor shortages and supply chain issues. A recent PPP loan forgiveness is expected to boost the balance sheet with a one-time gain of $6.1 million in Q3 2021.
Unique Fabricating (NYSE American: UFAB) will release its Q2 2021 financial results on August 12, 2021, after market close. The company's President and CEO, Doug Cain, along with CFO Brian Loftus, will present the results and provide a corporate update during a conference call at 4:30 p.m. ET on the same day. Investors can join the call by dialing 844-369-8774 or via webcast on the company's Investor Relations page. A replay will be available for 90 days. Unique Fabricating specializes in manufacturing components for various markets.
Unique Fabricating (NYSE American:UFAB) announced the forgiveness of its Paycheck Protection Program (PPP) loan, resulting in a $6.1 million gain for Q3 2021. The Small Business Administration confirmed the full repayment of the loan principal and accrued interest on August 9, 2021. This financial relief underscores the company's resilience amidst economic challenges and contributes positively to its upcoming quarterly financial results.
Unique Fabricating (NYSE American: UFAB) announced the extension of its Forbearance Agreement with lenders until February 28, 2022, amid ongoing challenges in the Transportation Market due to the chip shortage. This extension enables continued access to credit facilities, with negotiations for amendments to address defaults ongoing. The company anticipates a market recovery beginning in the latter half of 2022, which may benefit its Appliance Market segment. The press release underscores the uncertainty and risks facing Unique Fabricating in achieving financial stability.
Unique Fabricating (NYSE:UFAB) reported Q1 2021 results with net sales of $34.8 million, slightly up from $34.7 million YoY. The net loss narrowed to $1.1 million or $0.11 per share, an improvement from a loss of $2.3 million or $0.24 per share in Q1 2020. Gross profit increased to 16.8% of net sales. However, the company anticipates lower Q2 revenues due to ongoing microchip shortages. It remains optimistic about recovery in the second half of 2021, driven by demand in home building and improvements in light vehicle production forecasts.
