The following is a summary of the Unifi, Inc. (UFI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Unifi reported an improved Q3 revenue, about 10% higher than the previous quarter, amounting to $149 million.

• The Q3 EBITDA improved by $5 million compared to the last quarter.

• Significant progress in financial results indicates that Unifi may have outpaced the inventory destocking phase.

• Both Americas and Brazil segments registered increased net sales on a sequential basis.

• For Q4, the anticipated net sales range between $160 million to $165 million, with an adjusted EBITDA between $4 million and $6 million.

Business Progress:

• Unifi is gaining market share in both North America and Brazil due to a consolidated competitive set.

• Cost reduction efforts in North America are boosting company profitability.

• Revenues from the sales transformation initiative are positively impacting profit margins.

• New Business developments, beyond apparel, are underway, with innovation for REPREVE in progress.

• Recovery is consistent in Asia, with several initiatives in place to boost growth.

• The company hosts its 7th Annual REPREVE Champions of Sustainability Awards to acknowledge brand and retail partners.

• Unifi anticipates improved business results in Q4 and into the new fiscal year beginning July.

• Despite a slight drop in revenue due to holidays, overall growth is expected across the company's three business segments, driven by volume increases and minor pricing uplifts.

• Expansion is occurring beyond apparel, notably into the automotive and home markets, particularly mattresses.

• Unifi plans to maintain focus on inventory turnover management, cost controls, and returns-focused projects in the future. They aim for an average of five inventory turnovers per year in the Americas.

More details: Unifi IR

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