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Unifi First Quarter 2023 Earnings: Misses Expectations

Unifi (NYSE:UFI) First Quarter 2023 Results

Key Financial Results

  • Revenue: US$179.5m (down 8.4% from 1Q 2022).

  • Net loss: US$7.83m (down by 190% from US$8.68m profit in 1Q 2022).

  • US$0.43 loss per share (down from US$0.47 profit in 1Q 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Unifi Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.9%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 1.7% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Luxury industry in the US.

Performance of the American Luxury industry.

The company's shares are down 21% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Unifi's balance sheet and an in-depth analysis of the company's financial position.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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