Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Q2 2024 Earnings Presentation
11 slides from Unifi, Inc. New's earnings presentation, Feb 1, 2024
Slide 1: Conference Call Presentation, Second Quarter Ended December 31, 2023
Exhibit 99.2 CONFERENCE CALL PRESENTATION Second Quarter Ended December 31, 2023 (Unaudited Results) 1
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: Q2 Fiscal 2024 Overview
Q2 FISCAL 2024 OVERVIEW (compared to Q2 Fiscal 2023) Revenue stabilizing with expected calendar 2024 demand recovery • Inventory destocking nearing end; expect normalization to start in CY2024 Revenue Adjusted EPS(1) Profitability Improvement Plan and leadership promotions support more $136.9M ($0.8
Slide 4: REPREVE Fiber Sales
REPREVE® FIBER SALES as a % of Net Sales and Millions of $s QUARTERLY ANNUAL 40% 37% 36% 37% 36% 31% 30% 32% 33% 31% 31% 31% 25% 29% 27% $180 $186 $246 $293 $186 2019 2020 2021 2022 2023 Fiscal Year $71.9 $81.5 $71.9 $67.7 $49.2 $42.9 $49.6 $44.5 $42.5 $45.7 NOTE • REPREVE Fiber represents UNIFI’s c
Slide 5: Net Sales Overview, Year-Over-Year
NET SALES OVERVIEW Year-Over-Year, $s in Millions CONSOLIDATED AMERICAS BRAZIL ASIA $136.9 $136.2 $85.2 $80.5 $25.7 $26.1 $30.3 $25.3 ↑0.5% ↓5.5% ↑1.5% ↑19.9% Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Volume 8.8% Volume 14.7% Volume 19.0% Volume 13.1% Price/Mix (13.6%) Price/Mi
Slide 6: Gross Profit Overview, Year-Over-Year
GROSS PROFIT OVERVIEW Year-Over-Year, $s in Millions CONSOLIDATED AMERICAS BRAZIL ASIA $1.6 5.0% 1.2% -$6.7 $5.2 $3.1 0.0% -8.4% -5.9% -5.0% -$13.1 $3.8 -15.3% -$8.0 -10.0% $1.3 12.0% 14.8% 17.3% 5.2% -15.0% Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Gross Profit $ Gross Margin
Slide 7: Net Sales Overview, Quarter-Over-Quarter
NET SALES OVERVIEW Quarter-Over-Quarter, $s in Millions CONSOLIDATED AMERICAS BRAZIL ASIA $138.8 $136.9 $81.6 $80.5 $29.9 $26.1 $27.3 $30.3 ↓1.4% ↓1.3% ↓12.9% ↑10.8% Q1 FY24 Q2 FY24 Q1 FY24 Q2 FY24 Q1 FY24 Q2 FY24 Q1 FY24 Q2 FY24 Volume (0.4%) Volume 3.2% Volume (11.8%) Volume 6.4% Price/Mix (0.8%)
Slide 8: Gross Profit Overview, Quarter-Over-Quarter
GROSS PROFIT OVERVIEW Quarter-Over-Quarter, $s in Millions CONSOLIDATED AMERICAS BRAZIL ASIA 5.5% -$6.7 $5.2 -8.4% $4.6 $1.6 $3.1 -9.0% 3.5% 1.2% 1.5% $2.2 17.3% -$0.6 -$7.4 17.0% -0.5% 12.0% -0.4% 7.2% -2.5% Q1 FY24 Q2 FY24 -4.5% Q1 FY24 Q2 FY24 Q1 FY24 Q2 FY24 Q1 FY24 Q2 FY24 Gross Profit $ Gross
Slide 9: Balance Sheet & Liquidity
BALANCE SHEET & LIQUIDITY $s in Millions FREE CASH FLOW CAPEX Highlights $0 $4 • Reset capital expenditures levels to align $40 $36 with economic circumstances for improved free cash flow -$7 -$7 -$8 -$8 • Additional twelve-month delay of EvoCooler texturing equipment $6 < $16 Q4 Q2 Q3 Q4 Q1 Q2 • Im
Slide 10: Fiscal 2024 Second Half Priorities
FISCAL 2024 SECOND HALF PRIORITIES Prepared to Pivot to Growth • Matching production levels to meet expected rebound of demand in the U.S. and continued capture of market share • Scrutinizing working capital expenditures to reduce interest expense and improve cash flows • Leveraging the realignment
Slide 11: Q3 Fiscal 2024 Financial Outlook
Q3 FISCAL 2024 FINANCIAL OUTLOOK $s in Millions Key Financial Q2 FY24 Results Q3 FY24 Outlook Metrics Net Sales $136.9 $149.0 to $154.0 Adjusted EBITDA(1) ($5.5) ($2.0) to $1.0 Effective Tax Rate -2.0% Continued Volatility Capital Expenditures $3.0 $4.0 to $5.0 Remain Focused on Long-Term Growth For