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Mar 27, 2022
Unifi Q3 2022 Earnings Report
Unifi's Q3 2022 earnings were consistent with expectations, demonstrating underlying strength and momentum across the business.
Key Takeaways
Unifi, Inc. reported net sales of $200.8 million, a 12.3% increase from the third quarter of fiscal 2021. REPREVE® Fiber products comprised 36% of net sales. Net income was $2.1 million, or $0.11 diluted earnings per share.
Net sales increased by 12.3% to $200.8 million.
REPREVE® Fiber products accounted for 36% of net sales.
Gross profit decreased by 25.2% to $19.1 million.
Net income was $2.1 million, or $0.11 per share.
Revenue by Geographic Location
Forward Guidance
The Company expects net sales to reach $810 million or more, representing an increase of 21% or more from fiscal 2021. Adjusted EBITDA is expected to range between $54.0 million and $57.0 million. Capital expenditures are projected to be approximately $40.0 million to $42.0 million.
Positive Outlook
- Sales volume growth.
- REPREVE® Fiber sales growth.
- Investment in new yarn texturing machinery within the U.S.
- Investment in new yarn texturing machinery within El Salvador.
- Investment in new yarn texturing machinery within Brazil.
Challenges Ahead
- Adverse impacts of recent and ongoing COVID-related lockdowns in Asia.
- Renewed global volatility.
- High effective tax rate between 45% and 55%.
- Unspecified impacts of renewed global volatility.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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