Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Q3 2024 Earnings Presentation
16 slides from Unifi, Inc. New's earnings presentation, May 9, 2024
Slide 1: Conference Call Presentation
Exhibit 99.2 Conference Call Presentation Third Quarter Ended March 31, 2024 (Unaudited Results) (Amounts and dollars in millions, unless otherwise noted)
Slide 2: Cautionary Statements
Cautionary Statements 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 expec
Slide 3: Today's Speakers
Today’s Speakers Al Carey Eddie Ingle A.J. Eaker Executive Chairman CEO and Director EVP, CFO, and Treasurer 3
Slide 4: Q3 Fiscal 2024 Overview
Q3 Fiscal 2024 Overview (compared to Q2 Fiscal 2024) 1. Sequential performance improvement, specifically Consolidated Adjusted Revenue EPS1 in Americas $149.0M ($0.57) (+8.8%) (+29.6%) 2. Revenue stabilizing; continue to expect calendar 2024 demand increase Adjusted REPREVE Fiber EBITDA1 % of Sales
Slide 5: REPREVE Fiber Sales
REPREVE® Fiber Sales As a % of Net Sales Quarterly Annual 32% 33% 37% 31% 31% 31% 36% 29% 27% 31% 30% 25% $49.2 $42.9 $49.6 $44.5 $42.5 $45.7 $46.8 $180 $186 $246 $293 $186 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2020 2021 2022 2023 FY 2023 FY 2024 Fiscal Year 5 Note: REPREVE Fiber represents UNIFI’s collection o
Slide 6: Sustainability
SUSTAINABILITY unifi.com/sustainability 6
Slide 7: REPREVE, Peter Millar & WM Collaboration
REPREVE, Peter Millar & WM Collaboration Unifi collaborated with Peter Millar and WM for the 2024 WM Phoenix Open, which is known for being one of the largest sustainable sporting events in the world. Bottles were collected at the previous year’s event, and REPREVE was showcased in a special edition
Slide 8: REPREVE Champions of Sustainability
REPREVE Champions of Sustainability 8
Slide 9: Consolidated Highlights
Consolidated Highlights Q3 Q2 QoQ Q3 YoY FY24 FY24 Change FY23 Change Net Sales $149.0 $136.9 8.8% $156.7 (4.9)% Gross Profit $4.8 $1.6 191.2% $9.7 (50.6)% Gross Margin 3.2% 1.2% 200 bps 6.2% (300) bps Highlights/Drivers • Net sales and gross profit increased sequentially, primarily due to continued
Slide 10: Americas Highlights
Americas Highlights Q3 Q2 QoQ Q3 YoY FY24 FY24 Change FY23 Change Net Sales $91.1 $80.5 13.1% $101.9 (10.6)% Gross (Loss) ($3.5) ($6.7) 47.8% $3.2 (211.3)% Profit Gross Margin (3.9%) (8.4%) 450 bps 3.1% (700) bps Highlights/Drivers • Net sales and gross profit increased sequentially and seasonally,
Slide 11: Brazil Highlights
Brazil Highlights Q3 Q2 QoQ Q3 YoY FY24 FY24 Change FY23 Change Net Sales $29.6 $26.1 13.5% $27.4 8.0% Gross Profit $3.8 $3.1 22.2% $2.4 61.1% Gross Margin 13.0% 12.1% 90 bps 8.7% 430 bps Highlights/Drivers • Net sales and gross profit increased sequentially and seasonally, primarily due to increase
Slide 12: Asia Highlights
Asia Highlights Q3 Q2 QoQ Q3 YoY FY24 FY24 Change FY23 Change Net Sales $28.3 $30.3 (6.6)% $27.4 3.2% Gross Profit $4.4 $5.2 (15.2)% $4.1 8.0% Gross Margin 15.7% 17.3% (160) bps 15.0% 70 bps Highlights/Drivers • Net sales and gross profit decreased sequentially and seasonally, primarily due to lower
Slide 13: Balance Sheet
Balance Sheet $4 Cost control and working capital FCF ($7) ($8) ($4) measures drive improvement in free Q3 FY23 Q1 FY24 Q2 FY24 Q3 FY24 cash flows. $40 $36 CapEx $9 < $16 FY22 FY23 YTD FY24 FY24E $97 $101 $86 $90 Net Debt1 Q3 FY23 Q1 FY24 Q2 FY24 Q3 FY24 $221 $209 $187 $174 Working Capital Q3 FY23 Q
Slide 14: Q4 Fiscal 2024 Financial Outlook
Q4 Fiscal 2024 Financial Outlook Continued Focused on Long-Term Growth Q3 FY24 Results Q4 FY24 Outlook Net Sales $149.0 $160.0 to $165.0 Adjusted EBITDA1 ($0.8) $4.0 to $6.0 Effective Tax Rate (8.3%) Continued Volatility Capital Expenditures $2.6 $4.0 to $5.0 1 Adjusted EBITDA is a non-GAAP financia
Slide 15: Fiscal 2024 & 2025 Priorities
Fiscal 2024 & 2025 Priorities Prepared to Pivot to Growth Increasing customer engagement in all business segments to 1. grow our global market share of the demand for sustainable inputs. Scrutinizing working capital expenditures to reduce interest 2. expense and improve cash flows. Leveraging the re
Slide 16: Contact Investor Relations
Contact Investor Relations: UFI@alpha-ir.com 16