Q1 2025 Unifi Inc Earnings Call Transcript
Key Points
- Unifi Inc (UFI) reported a 6% year-over-year increase in consolidated net sales for the first quarter of fiscal 2025.
- The company's REPREVE innovation is gaining positive reception globally, with new products like Thermo Loop expected to boost sales.
- The Brazil segment showed strong performance with a 15% year-over-year increase in net sales, driven by market share gains and favorable pricing.
- Unifi Inc (UFI) is seeing traction in its beyond apparel business, particularly in home, carpet, military, and packaging segments.
- Cost reduction efforts in North America are expected to improve profitability in the second half of the fiscal year.
- The Asia segment experienced a slowdown due to economic struggles in China and pricing pressures, impacting sales volume.
- REPREVE sales decreased slightly due to the slowdown in the Asia business.
- The Americas segment faced a modest slowdown due to seasonality and impacts from Hurricane Helene.
- Unifi Inc (UFI) expects a challenging second quarter with projected net sales between $140 million and $145 million, and adjusted EBITDA ranging from negative $4 million to negative $2 million.
- The company is still in the early stages of its cost reduction and sales transformation efforts, indicating ongoing challenges in achieving efficiency savings.
Good morning and thank you for attending Unifi's first quarter, fiscal 2025 earnings conference call. Today's conference is being recorded and all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session.
Speakers for today's call include Al Carey, Executive Chairman; Eddie Ingle, Chief Executive Officer and A.J. Eaker, Chief Financial Officer.
During this call management will be referencing a webcast presentation that can be found in your Investor Relations section of unifi.com.
Please familiarize yourself with page 2 of that slide deck precautionary statements and non-GAAP measures.
I will now turn the call over to Al Carey.
Thank you and thank you everyone for joining our call today. And those of you who have followed our quarterly earnings over the last two years know that the macroeconomic headwinds have been stubborn, not just for us but for our entire industry. And until recently, high levels of
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