CULP Culp Inc.

Culp, Inc. to Broadcast First Quarter Fiscal 2021 Conference Call Live on the Internet

Culp, Inc. to Broadcast First Quarter Fiscal 2021 Conference Call Live on the Internet

HIGH POINT, N.C., Aug. 28, 2020 (GLOBE NEWSWIRE) -- Culp, Inc. (NYSE: CULP) today announced that it will provide an online, real-time webcast and rebroadcast of its first quarter fiscal 2021 conference call on Thursday, September 3, 2020, at 11:00 a.m. ET.  During this call, Culp will review the company’s financial and operating results for the first quarter ended August 2, 2020.  A press release announcing these results will be issued after the close of market trading on Wednesday, September 2, 2020.

The live broadcast of Culp’s quarterly conference call will be available online at  on Thursday, September 3, 2020, beginning at 11:00 a.m. ET.  To listen to the live webcast, please visit the website at least 15 minutes early to download and install any necessary audio software.  An Internet replay of the call will be available for 30 days using the same links.

Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture.  The company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp’s manufacturing facilities and fabrics sourced through other suppliers.  Culp has operations located in the United States, Canada, China and Haiti.                                                                              





Contact:      
Kenneth R. Bowling
Chief Financial Officer
(336) 881-5630
EN
28/08/2020

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Reports on Culp Inc.

Budd Bugatch ... (+2)
  • Budd Bugatch
  • Rex Henderson
CULP CULP INC.

Lower Near-Term Expectations; Culp Likely to Restructure

We are cutting estimates on Culp, responding to weak demand, and bracing for a restructuring in 4QFY24. Culp’s 3QFY24 earnings report, issued Wednesday after the close, highlighted improved revenue and operating results, Y/Y and sequentially. Consolidated sales were $60.4 million, up 15% Y/Y and 3% sequentially, aided by a calendar shift in the Chinese New Year from 3Q to 4Q. Operating loss of $1.7 million improved from a loss of $7.8 million in 3QFY23 and a loss of $2.2 million in 2QFY24. Still...

03/08/24 March 8, 2024 1 EN
Budd Bugatch ... (+2)
  • Budd Bugatch
  • Rex Henderson
CULP CULP INC.

3QFY24 Operating Income Beats Lowered Estimates

After the close on Wednesday, Culp reported a 3QFY24 operating loss of $1.7 million, which was better than our estimate of a loss of $2.2 million. Consolidated sales were $60.4 million, roughly in line with our $60 million published estimate. Culp continues to battle weak demand in both of its Culp Home Fashions (CHF, aka mattress fabrics) and Culp Upholstery Fabrics (CUF) segments. Results in the CHF segment were below our lowered expectations. Sales were $30 million, while the operating loss w...

03/07/24 March 7, 2024 1 EN
Budd Bugatch ... (+2)
  • Budd Bugatch
  • Rex Henderson
CULP CULP INC.

3Q Results: Update on Culp Progress Out Wednesday After Close

Culp reports 3QFY24 results after the close on Wednesday, March 6. An investor conference call is scheduled for 11:00 am ET on Thursday, March 7. Culp revised its guidance for the second half of 2023 in January in conjunction with the WTR Furniture/Furnishings Virtual Conference. Recovery in the mattress segment had been slower than previously expected. WTR now projects an EPS loss of $0.22 on revenue of $60 million. We had previously expected an EPS loss of $0.17. The revised consensus is a los...

03/05/24 March 5, 2024 1 EN
Budd Bugatch ... (+2)
  • Budd Bugatch
  • Rex Henderson
CULP CULP INC.

Updating 3Q Estimate Following WTR Conference Comment

Following Culp’s presentation at the WTR Furniture/Furnishings Virtual Conference, we are updating our 3Q estimates. CEO Robert Culp IV warned that 3Q operating income will fall short of previous expectations. The 3Q operating loss will approach $2.2 million, in line with the 2Q operating loss. Prior guidance was a consolidated operating loss of $1.2 million. Culp reaffirmed that the company is still working toward operating profit by the end of 4Q. That implies that the full quarter may report ...

01/19/24 January 19, 2024 1 EN
Budd Bugatch ... (+2)
  • Budd Bugatch
  • Rex Henderson
CULP CULP INC.

Introducing Updated Model; FY24 Estimates Unchanged

After inputting data from the Culp 2QFY24 Form 10Q filing, FY24 estimates are unchanged. We moderated FY25 and FY26 revenue and profit expectations. This note incorporates that filing and introduces our reformatted earnings model. We hope the revised model and reformatting will be easier to read and understand. As is our custom, our working excel models are available to our readers on request. Our revisions and reformatting will be easier to manage for anyone inclined to test assumptions differe...

12/18/23 December 18, 2023 1 EN

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