Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Unifi — Q3 FY2018 Earnings Presentation
14 slides from Unifi, Inc. New's earnings presentation, Apr 25, 2018
Slide 1: Conference Call Presentation
Conference Call Presentation Third Quarter Ended March 25, 2018 (Unaudited Results) April 25, 2018
Slide 2: Cautionary Statement on Forward-Looking Statements
Cautionary Statement on Forward-Looking Statements Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about the financial condition and results of operations of the Company that are based on management’s beliefs, assumptions and expect
Slide 3: Third Quarter Highlights and Challenges
Third Quarter Highlights and Challenges Highlights Challenges PVA Sales and International Growth Elevated Raw Material Costs PVA Sales (millions) International Sales Virgin PET Cost Trend $74 $52 July 2017 – March 2018 $63 $42 Q3 17 Q3 18 Q3 17 Q3 18 Q1 18 Q2 18 Q3 18 Difficult Domestic Landsc
Slide 4: Consolidated Net Income – Q3 FY17 to Q3 FY18
Consolidated Net Income – Q3 FY17 to Q3 FY18 (dollars in millions) (a) SG&A ($0.8) (b) FX ($1.4) (c) Other ($0.5) Total ($2.7) 1 2 3 4 5 When comparing Net income attributable to Unifi, Inc. from Q3 FY17 to Q3 FY18 using the Q3 FY17 effective tax rate of 8.3%: 1 Approximates the change in consolidat
Slide 5: Consolidated Diluted EPS – Q3 FY17 to Q3 FY18
Consolidated Diluted EPS – Q3 FY17 to Q3 FY18 (amounts in dollars per share) 1 2 3 4 5 When comparing Diluted EPS from Q3 FY17 to Q3 FY18 using the Q3 FY17 effective tax rate of 8.3%: 1 Approximates the change in consolidated revenues utilizing the prior year gross margin rate. 2 Approximates the ch
Slide 6: Net Sales and Gross Profit Highlights
1 Net Sales and Gross Profit Highlights (dollars in thousands) Three-Month Comparison (Q3 FY17 vs. Q3 FY18) Net Sales Polyester * Nylon * International * Subtotal 1 Prior Period $ 90,267 $ 26,987 $ 42,345 $ 159,599 Volume Change (1.1%) (13.1%) 32.3% 9.8% Price/Mix Change (0.6%) 2.1% (10.2%) (6.7%) F
Slide 7: Equity Affiliates Highlights
Equity Affiliates Highlights (dollars in thousands) For the Three Months Ended For the Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Pre-Tax Earnings: Parkdale America, LLC $ 479 $ 1,345 $ 2,957 $ 914 Nylon joint ventures 65 255 885 1,159 Total $ 544 $ 1,600 $ 3,842 $
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights (dollars in thousands) Working Capital and Adjusted Working Capital March 25, 2018 June 25, 2017 March 26, 2017 Cash and cash equivalents $ 40,576 $ 35,425 $ 30,231 Receivables, net 87,427 81,121 87,249 Inventories 121,293 111,405 109,647 Other current assets 17,823 15,686 1
Slide 9: Fiscal 2018 Guidance
Fiscal 2018 Guidance Based on third quarter results and the ongoing presence of elevated raw material costs, UNIFI has updated its fiscal 2018 outlook, as reflected below: Metric Previous Guidance Revised Guidance Sales volumes Growth Growth Net sales Low- to mid-single digit percentage growth Low-
Slide 10: Appendix
APPENDIX ae “ie
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations (dollars in thousands) EBITDA and Adjusted EBITDA For the Three Months Ended For the Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Net income attributable to Unifi, Inc. $ 176 $ 9,177 $ 20,938 $ 23,171 Interest expense, net 1,005 699 3,118 1,9
Slide 12: Non-GAAP Reconciliations (Continued)
Non-GAAP Reconciliations (Continued) (dollars in thousands) Adjusted Net Income and Adjusted EPS For the Nine Months Ended March 25, 2018 For the Nine Months Ended March 26, 2017 Pre-tax Pre-tax Income Tax Impact Net Income Diluted EPS Income Tax Impact Net Income Diluted EPS GAAP results $ 20,254 $
Slide 13: Other Reconciliations
Other Reconciliations (dollars in thousands) Consolidated Net Sales For the Three Months Ended For the Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 1 Subtotal of Net Sales by Segment $ 164,788 $ 159,599 $ 494,477 $ 471,964 Net Sales for All Other Category 1,079 1,297
Slide 14: Thank You!
Thank You! ae “ie