UNIFI Reports Fourth Quarter FY2023 Earnings Results for June 30, 2023
August 25, 2023
🌥️Earnings Overview
On August 23 2023, UNIFI ($NYSE:UFI) released its financial results for the fourth quarter of fiscal year 2023, ending June 30th 2023. Total revenues for the quarter were USD 151.1 million, a 30.6% decrease from the same quarter in the prior year. The company reported a net loss of USD 15.3 million compared to net income of 3.5 million the prior year.
Market Price
On Wednesday, UNIFI reported its fourth quarter FY2023 earnings results for the period ended June 30, 2023. The company’s stock opened at $7.3 and closed at $7.2, representing a decrease of 1.0% from the previous closing price of $7.3. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Unifi. More…
| Total Revenues | Net Income | Net Margin |
| 623.53 | -46.34 | -7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Unifi. More…
| Operations | Investing | Financing |
| 4.74 | -36.23 | 25.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Unifi. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 538.82 | 215.21 | 17.92 |
Key Ratios Snapshot
Some of the financial key ratios for Unifi are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.9% | 36.4% | -6.1% |
| FCF Margin | ROE | ROA |
| -5.1% | -7.2% | -4.4% |
Analysis
At GoodWhale, we recently performed an analysis of UNIFI‘s wellbeing. Our Risk Rating shows that UNIFI is a medium risk investment, taking into account both its financial and business aspects. We have also detected two risks that warrant warnings in UNIFI’s income sheet and balance sheet. If you are considering investing in UNIFI, be sure to register with us so that we can provide you with a full overview of all the risks associated with this investment. With GoodWhale, you can be assured that you are making the most informed decision about your money. More…
Peers
The company has a diversified product portfolio and a wide range of customers. Unifi‘s competitors include Valson Industries Ltd, Pioneer Embroideries Ltd, and Hsin Sin Textile Co Ltd.
– Valson Industries Ltd ($BSE:530459)
Valson Industries Ltd is a publicly traded company with a market capitalization of 189.22M as of 2022. The company has a return on equity of 2.05%. Valson Industries Ltd is engaged in the manufacture and sale of textile products. The company’s products include fabrics, garments, and home furnishings.
– Pioneer Embroideries Ltd ($BSE:514300)
Pioneer Embroideries Ltd is a publicly traded company with a market capitalization of 1.15 billion as of 2022. The company has a return on equity of 7.28%. Pioneer Embroideries Ltd is engaged in the business of manufacturing and marketing embroidery products. The company’s products are sold under the brand names of Pioneer, Janome, and Husqvarna.
– Hsin Sin Textile Co Ltd ($TPEX:4406)
Hsin Sin Textile Co Ltd is a textile company that produces a wide range of textile products, including fabrics, yarns, garments, and home textiles. The company has a market cap of 547.67M as of 2022 and a return on equity of 2.47%. Hsin Sin Textile Co Ltd is a publicly traded company listed on the Taiwan Stock Exchange.
Summary
UNIFI‘s fourth quarter earnings report for FY2023 ended June 30 2023 showed total revenue of USD 151.1 million, a 30.6% decrease from the same quarter the previous year. Net income reported was USD -15.3 million, compared to 3.5 million in the same quarter of the previous year. This is a sign that investors should be cautious when considering UNIFI as an investment option, since the company has yet to demonstrate a return on their investments.
The significant decline in revenue and net income is a warning to take into account before investing. Further research into UNIFI’s financials and operations should be conducted before making any investment decisions.
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