Unifi Q2 revenue falls on trade uncertainty
Overview
Recycled yarn maker's fiscal Q2 revenue fell 12.6% yr/yr due to trade uncertainty
Gross profit for fiscal Q2 rose to $3.6 mln from $0.5 mln last year
Net loss for fiscal Q2 improved to $9.7 mln from $11.4 mln last year
Outlook
Unifi expects lower operating cash flows in Q3 due to increased working capital needs
Company sees signs of a return to a normalized operating environment
Result Drivers
COST ALIGNMENT - Unifi's cost and footprint reductions improved profitability at lower revenue levels
TRADE UNCERTAINTY - Net sales decreased due to lower customer ordering patterns from trade and tariff-related uncertainty
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Slight Beat* | $121.37 mln | $120.18 mln (1 Analyst) |
Q2 EPS |
| -$0.53 |
|
Q2 Net Income |
| -$9.71 mln |
|
Q2 Adjusted EBITDA |
| -$700,000 |
|
Q2 Operating Income |
| -$7.28 mln |
|
Q2 Pretax Profit |
| -$8.75 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
Wall Street's median 12-month price target for Unifi Inc is $12.00, about 206.1% above its February 2 closing price of $3.92
Press Release: ID:nBw4LK4cPa
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