Unifi - UFI STOCK NEWS

Unifi (NYSE: UFI), an innovator in recycled and synthetic yarn, announced its fourth quarter and fiscal 2024 results. Net sales for Q4 were $157.5 million, a 6% increase from Q3, driven by higher sales volumes. Revenues from REPREVE Fiber products reached $53.6 million, representing 34% of net sales.

Gross profit improved to $10.8 million, with a 6.9% gross margin. The net loss narrowed to $4.0 million, or $0.22 per share, from $10.3 million in Q3. Adjusted EBITDA was $5.9 million, up from ($0.8) million in the previous quarter. For fiscal 2025, Unifi expects double-digit revenue growth, enhanced margins, and increased profitability due to strategic initiatives and product innovations.

Fiscal year net sales were $582.2 million, down from $623.5 million in the previous year, reflecting lower raw material costs and selling prices. The net loss for the year was $47.4 million, compared to $46.3 million in fiscal 2023. Unifi plans capital expenditures of $10-12 million for fiscal 2025 to support growth initiatives.

UNIFI, Inc. (NYSE: UFI) has launched two new circular polyester products made from textile waste: white filament yarn and ThermaLoop™ insulation. These products, powered by UNIFI's proprietary Textile Takeback™ process, expand the REPREVE® portfolio, making it the largest offering of regenerated performance polyester globally. The new products are made from 100% recycled polyester feedstock, with at least 50% textile waste, and achieve virgin-quality standards.

The white, dyeable filament yarn is designed for critical applications across industries, while ThermaLoop™ insulation offers performance in down-like fiber, fiberball, and padding forms. Both products are available globally and can be integrated into existing supply chains. This launch supports UNIFI's goal to recycle 1.5 billion T-shirts' worth of textile waste by fiscal year 2030.

Unifi, Inc. (NYSE: UFI), the makers of REPREVE®, has announced its fourth quarter fiscal 2024 earnings conference call scheduled for Thursday, August 22, 2024, at 9:00 a.m. Eastern Time. The company will release its financial results and supporting materials after market close on Wednesday, August 21, 2024, available on their investor relations website. Investors can access the call by dialing (800) 715-9871 (Domestic) or (646) 307-1963 (International) with conference ID 9957299. A live audio webcast and replay will be available on Unifi's website, along with presentation slides accessible for 12 months following the call.

UNIFI (NYSE: UFI), renowned for its innovative recycled and synthetic yarns, announced the winners of its seventh annual REPREVE Champions of Sustainability Awards. These awards honor global brands and partners like NIKE and Inditex for recycling over 40 billion plastic bottles into new products through REPREVE.

NIKE and Rothy's received the Milestone Award for transforming 3+ billion and 100+ million bottles, respectively. Under Armour and Lovesac earned Special Recognition Awards for their contributions to performance wear and home furnishings. Inditex was awarded the Global Brand Award for recycling 360+ million bottles, while Serta Simmons Bedding was named Rising Star for its sustainable bedding efforts.

The 2024 awards will honor 37 brand partners and 64 textile partners for significant contributions to sustainability. UNIFI's CEO, Eddie Ingle, emphasized the importance of partnership in driving environmental responsibility and innovation.

Unifi, Inc. (NYSE: UFI) reported strong third-quarter fiscal 2024 results, with net sales reaching $149.0 million, a 9% increase from the previous quarter. The company showcased improved gross profit of $4.8 million and a sequential-quarter gross margin enhancement to 3.2%. However, a net loss of $10.3 million or $0.57 per share was recorded, compared to a net loss of $19.8 million in the previous quarter. Adjusted EBITDA was ($0.8) million, improving from ($5.5) million in the last quarter. Unifi is focused on sustainability, aiming to transform 1.5 billion t-shirts worth of textile waste by fiscal 2030. The company remains optimistic about future growth and expanding beyond apparel initiatives.

UNIFI, Inc., makers of REPREVE, will host a conference call to discuss its third quarter fiscal 2024 financial results on May 9, 2024. UNIFI is a global textile solutions provider known for transforming plastic bottles into recycled fiber for various consumer products. The company is a leader in synthetic and recycled performance fibers and collaborates with influential brands in multiple industries.

UNIFI, Inc. releases its FY2023 Sustainability Snapshot, highlighting its textile-to-textile recycling ambitions, waste reduction achievements, and future goals. The company aims to transform 1.5 billion T-shirts worth of textile and yarn waste by FY2030, reduce greenhouse gas emissions intensity by 30%, divert 50 billion plastic bottles by 2025, and increase revenue from REPREVE Fiber.

Unifi, Inc. (UFI) released operating results for the second fiscal quarter ended December 31, 2023. Net sales increased by 0.5% to $136.9 million, driven by higher sales volumes despite lower pricing. REPREVE Fiber products represented 33% of net sales. Gross profit was $1.6 million with a gross margin of 1.2%. The company reported a net loss of $19.8 million, but adjusted net loss improved to $14.7 million. Adjusted EBITDA was ($5.5) million, an improvement from the previous year. The company expanded cost efficiency measures, announced the promotion of key executive leaders, and implemented a Profitability Improvement Plan. CEO Eddie Ingle expressed optimism for the anticipated recovery in apparel demand in calendar 2024.

UNIFI, Inc. (UFI) has announced the implementation of a Profitability Improvement Plan focused on reducing costs and investing in innovation. The plan includes cost reset and headcount reductions expected to lower expenses by $10-15 million annually, as well as sales transformation initiatives to bolster operating margins by $6 million annually. The company also made new executive officer appointments to critical roles, promoting A.J. Eaker to Executive Vice President and CFO, Meredith S. Boyd to Executive Vice President and Chief Product Officer, Brian D. Moore to Executive Vice President and President of Unifi Manufacturing, Inc., and Gregory K. Sigmon to Executive Vice President, General Counsel, and Corporate Secretary. The company aims to reinvest savings into margin accretive opportunities and product innovation for REPREVE, strengthening its financial profile beyond current actions. The PR also mentions a severance charge of $2.4 million and the expectation of $20 million in annual run-rate cost reduction by the start of fiscal 2025 as a result of the Profitability Improvement Plan.