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. (symbol: UFI) is a leading innovator in the global textile industry, renowned for its manufacturing and sale of synthetic and recycled products. Headquartered in North Carolina, Unifi has established a strong domestic and international presence with manufacturing facilities in Yadkinville, Madison, and Reidsville, NC, and operations extending to Brazil, Central America, and China.
Unifi's core business revolves around producing high-quality polyester and nylon yarns. Their product line includes partially oriented yarn (POY), textured, solution and package dyed, twisted, beamed, and draw wound yarns, available in both virgin and recycled varieties. Unifi's offerings cater to various sectors, including apparel, hosiery, home furnishings, automotive, and industrial markets.
Committed to sustainability, Unifi operates its own recycling center and implements extensive recycling practices. The company collects and reuses motor oil to heat its maintenance facility, recycles water within its system, and reclaims energy from dye baths and drying equipment. Unifi's continuous research and innovation efforts aim to develop ecologically sound solutions and products.
Unifi's products are featured by prominent brands and retailers such as Ford, Patagonia, North Face, and Vitamin A Swimwear, reflecting the company's significant impact on the industry. The company offers a range of specialized yarns, premium value-added (PVA) yarns, and commodity yarns, serving principal geographic markets in the Americas, Europe, and Asia.
Recently, Unifi has achieved notable milestones, including expanding its international footprint and enhancing its product offerings to meet the growing demand for sustainable and innovative textile solutions. The company's commitment to green practices and continuous improvement underscores its role as a leader in the textile industry.
Unifi, Inc. (NYSE: UFI) will host a conference call on November 4, 2022, at 8:30 a.m. Eastern Time to discuss its first quarter fiscal 2023 financial results. These results will be available post-market on November 3, 2022, on their website. Interested parties can join the call by dialing (800) 715-9871 for domestic calls or (646) 307-1963 for international calls, using the conference ID 3960476. A replay will be available starting two hours after the call until November 11, 2022. Unifi specializes in synthetic and recycled performance fibers, notably through its REPREVE brand.
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.
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.
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