UNIFI Reports Total Revenue of USD 151.1 Million and Net Income of USD -15.3 Million in Q4 of FY 2023, Down 30.6% and -338.6% Respectively
September 2, 2023
☀️Earnings Overview
For the fourth quarter of fiscal year 2023, ended on June 30 2023, UNIFI ($NYSE:UFI) reported total revenue of USD 151.1 million and a net loss of USD 15.3 million, which represented a decrease of 30.6% and -338.6%, respectively, compared to the same period in the previous year.
Analysis
GoodWhale has conducted an analysis of UNIFI‘s fundamentals, and the resulting risk rating suggests UNIFI is a medium risk investment. Specifically, GoodWhale has identified three risk warnings in the income sheet, balance sheet, and financial journal that potential investors should consider before investing. GoodWhale’s analysis is particularly helpful for individuals who may not be familiar with UNIFI’s financials or have the time to conduct a thorough analysis. By registering with GoodWhale, investors can access the full report and view the risk warnings identified by GoodWhale in greater detail. This can provide insight into whether UNIFI is a good fit for an individual’s portfolio. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Unifi. More…
| Total Revenues | Net Income | Net Margin |
| 623.53 | -46.34 | -6.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Unifi. More…
| Operations | Investing | Financing |
| 4.74 | -36.23 | 25.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Unifi. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 538.82 | 215.21 | 17.9 |
Key Ratios Snapshot
Some of the financial key ratios for Unifi are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.9% | 36.4% | -6.1% |
| FCF Margin | ROE | ROA |
| -5.1% | -7.2% | -4.4% |
Peers
The company has a diversified product portfolio and a wide range of customers. Unifi‘s competitors include Valson Industries Ltd, Pioneer Embroideries Ltd, and Hsin Sin Textile Co Ltd.
– Valson Industries Ltd ($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 reported total revenue of USD 151.1 million and a net income of USD -15.3 million for the fourth quarter of fiscal year 2023, ending on June 30 2023. This represents a 30.6% decrease in revenue and a staggering -338.6% decrease in net income when compared to the same period in the prior year. This is a cause for concern among investors, as it could be an indication of a downward trend in the company’s financial performance. It would be prudent for investors to keep an eye on UNIFI’s future performance and analyze potential risks related to the company’s operations before making any investment decisions.
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