Unifi, Inc. (NYSE:UFI) Q3 2024 Earnings Conference Call October 31, 2024 9:00 AM ET
Company Participants
Al Carey - Executive Chairman
Eddie Ingle - Chief Executive Officer
A.J. Eaker - Chief Financial Officer
Conference Call Participants
Anthony Lebedzinski - Sidoti & Company
Operator
Good morning, and thank you for attending Unifi's First Quarter Fiscal 2025 Earnings Conference Call. Today's conference is being recorded, and all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. Speakers for today's call include Al Carey, Executive Chairman; Eddie Ingle, Chief Executive Officer; and A.J. Eaker, Chief Financial Officer. During this call, management will be referencing a webcast presentation that can be found in the Investor Relations section of unifi.com. Please familiarize yourself with Page 2 of the slide deck for cautionary statements and non-GAAP measures.
I will turn the call over to Al Carey.
Al Carey
Thank you, and thank you, everyone, for joining our call today. Those of you who have followed our quarterly earnings over the last two years know that the macroeconomic headwinds have been stubborn, not just for us but for our entire industry. And until recently, high levels of apparel inventory have been quite a problem and then slow consumer sales have held down our revenues and our profits.
Now that has continued in Q1 and even very recently, but we believe that trend is now improving when we begin our new calendar year of 2025. We're finally seeing some green shoots in the form of customer orders and in interest for our new innovation. And while it's not all the way back to what we want to see yet, we are going to see substantial improvements for half two of our fiscal year or the first half of the calendar year.
So Q1 revenues, that you'll hear more about in the next few minutes were about as expected. They were up 6% over a year ago. And our EBITDA was also about as expected at $3.3 million, and it's significantly over last year, as last year was a very depressed level. So you can expect half two will step up in both revenues and in EBITDA well above the first half of this fiscal year.
Now the improved outlook is coming from four areas. The first one is the REPREVE innovation. It's being enthusiastically received by customers around the world, especially Textile Takeback on our product called ThermaLoop. These products will begin to show up in our sales initially in Q4.