Unifi (NYSE:UFI) Announces Quarterly Earnings Results

Key Points

• Unifi reported quarterly EPS of ($0.09), beating analyst expectations of ($0.15) by $0.06, while revenue of $127.92 million fell short of the $138.03 million consensus estimate.
• Shares rose 11.6% to $6.32 in Thursday trading, although the company remained unprofitable with a negative net margin of 4.62% and negative return on equity of 10.32%.
• Analyst sentiment remains unfavorable: Unifi has a consensus rating of “Sell,” with one analyst maintaining a sell rating despite another upgrading the stock from hold to buy.

Unifi (NYSE:UFI - Get Free Report) released its quarterly earnings data on Thursday. The textile maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.06, FiscalAI reports. Unifi had a negative net margin of 4.62% and a negative return on equity of 10.32%. The business had revenue of $127.92 million during the quarter, compared to analyst estimates of $138.03 million.

Unifi Trading Up 11.6%

Shares of UFI stock traded up $0.66 during trading hours on Thursday, reaching $6.32. 316,211 shares of the stock were exchanged, compared to its average volume of 72,775. The firm has a market capitalization of $117.39 million, a price-to-earnings ratio of -4.75 and a beta of 0.72. Unifi has a 12-month low of $2.96 and a 12-month high of $8.47. The company's 50-day moving average price is $6.58 and its 200-day moving average price is $5.00. The company has a current ratio of 3.33, a quick ratio of 1.74 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

UFI has been the topic of several recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Unifi in a research report on Tuesday, October 6th. Wall Street Zen raised shares of Unifi from a "hold" rating to a "buy" rating in a report on Saturday, September 19th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of "Sell".

About Unifi

Unifi, Inc is a textile manufacturing company that produces synthetic and recycled yarns for customers in the apparel, hosiery, home furnishings, automotive, industrial and other consumer markets. Its products include polyester and nylon textured yarns, staple fiber and related value-added textile materials used in fabrics and finished goods.

The company is best known for its REPREVE brand, which transforms recycled plastic bottles and other materials into performance fibers. REPREVE fibers are used in products designed to offer attributes such as moisture management, stretch, softness, thermal performance and enhanced durability.

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