Shares of Unifi (NYSE:UFI), a leading manufacturer of recycled and synthetic textiles, surged 14.7% to $6.71, marking a seven-month high in day trading on Thursday.
The stock rally follows the company's report of a smaller-than-expected adjusted loss for Q4, which came in at 22 cents per share, compared to a loss of 39 cents per share in the same quarter last year.
Unifi's quarterly revenue saw a year-over-year increase of approximately 4%, reaching $157.45 million, driven primarily by higher sales volumes.
The company's REPREVE® Fiber products contributed $53.6 million, accounting for 34% of total net sales.
CEO Eddie Ingle highlighted the company's ongoing investments, stating that Unifi has already begun reinvesting into its "ThermaLoop™ Insulation solution" and expanding the "Textile Takeback program" across both filament and staple fiber segments.
Despite Thursday's gains, Unifi's share price remains relatively flat for the year, with a slight increase of 0.6% year-to-date.