Welcome to our dedicated page for Culp news (Ticker: CULP), a resource for investors and traders seeking the latest updates and insights on Culp stock.
Culp, Inc. (CULP) is a prominent player in the home furnishings market, headquartered at 7209 US-158, Stokesdale, North Carolina, United States. The company specializes in the manufacture, sourcing, and marketing of an extensive range of mattress fabrics and sewn covers for mattresses and box springs, as well as upholstery fabrics and cut-and-sew kits for upholstered furniture production.
Operating through two key segments, Mattress Fabrics and Upholstery Fabrics, Culp, Inc. has firmly established itself in the industry. The Mattress Fabrics segment, also known as Culp Home Fashions, focuses on producing and marketing innovative mattress fabrics and covers to bedding manufacturers. This segment is known for its high-quality jacquard woven fabrics, velvets, micro denier suedes, woven dobbies, knitted fabrics, piece-dyed woven products, and polyurethane leather look fabrics.
The Upholstery Fabrics segment caters to the residential and commercial furniture markets. It offers a wide variety of fabric options, ensuring that it meets the diverse needs of its clients. Culp, Inc. continuously strives to innovate and deliver products that reflect the latest trends and consumer preferences.
In recent years, Culp, Inc. has achieved several significant milestones. The company has expanded its product lines and strengthened its market presence through strategic partnerships and collaborations. These efforts have enhanced its ability to offer customized solutions to its customers, reinforcing its commitment to quality and excellence.
Financially, Culp, Inc. has demonstrated resilience and adaptability. Despite the challenges posed by economic fluctuations, the company has maintained a stable financial position. This stability is attributed to its diversified product portfolio, efficient supply chain management, and a customer-centric approach.
With a forward-looking approach, Culp, Inc. is dedicated to exploring new opportunities for growth and expansion. The company's focus on sustainability and innovation ensures that it remains at the forefront of the home furnishings industry. By prioritizing customer satisfaction and leveraging its expertise, Culp, Inc. continues to build a strong foundation for future success.
Culp, Inc. (NYSE: CULP) will host a conference call on December 2, 2021, at 11:00 a.m. ET to discuss its financial results for the second quarter ending October 31, 2021. The company plans to release these results following market close on December 1, 2021. Investors can access the live webcast on the company's official website. Culp is a leading marketer of mattress fabrics and upholstery fabrics, with manufacturing facilities in the US, Canada, China, Haiti, Turkey, and Vietnam.
Culp, Inc. (NYSE: CULP) expects second-quarter fiscal 2022 net sales to decline by approximately 11% from the prior quarter, with operating income projected between $1.3 million and $1.6 million. This drop is attributed to COVID-19-related shutdowns in Vietnam affecting sales in the upholstery fabrics segment. Labor shortages and supply chain constraints at U.S. facilities further pressured sales across segments. Though facing challenges, Culp's CEO emphasized the company's long-term positioning and the resumption of normalized shipping capacity.
Culp, Inc. (NYSE: CULP) elected three new independent directors,
Culp, Inc. (NYSE: CULP) reported a strong first quarter for fiscal 2022, with net sales of $83.0 million, a 28.8% increase year-over-year. Operating income rose to $3.3 million, a 76.2% increase. Net income was $2.3 million or $0.18 per diluted share, reversing a net loss of $(2.7) million in the same quarter last year. The company has total cash and investments of $44 million, with no debt. A quarterly dividend of $0.11 per share was announced. The outlook for the second quarter suggests stable sales, with expected increases in sales between 8-12% and operating income growing by 20-25% for the full fiscal year.
Culp, Inc. (NYSE: CULP) announced it will hold a real-time webcast for its first quarter fiscal 2022 conference call on September 2, 2021, at 11:00 a.m. ET. This call will cover the financial and operational results for the quarter ending August 1, 2021. A press release with these results will be issued post-market on September 1, 2021. Culp is a leading marketer of mattress and upholstery fabrics with manufacturing capabilities in the U.S., Canada, China, Haiti, Turkey, and Vietnam.
Culp, Inc. (NYSE: CULP) confirmed that its sewn mattress cover facilities in Ouanaminthe, Haiti, were unaffected by the recent magnitude-7.2 earthquake, located more than 275 miles away. Culp's president stated that all employees are safe and normal production schedules remain intact. The company is engaged in relief efforts, donating home goods and food supplies to assist those impacted by the disaster. Culp is a leading marketer of mattress and upholstery fabrics, with manufacturing capabilities spanning several countries including the U.S., Canada, China, Haiti, Turkey, and Vietnam.
Culp, a leading marketer of mattress fabrics and upholstery, announced that Ken Bowling, Executive Vice President and CFO, will participate in the Water Tower Research Fireside Chat Series.
The event is scheduled for July 20, 2021, at 1:30 p.m. ET. Budd Bugatch, Senior Analyst at Water Tower Research, will host the discussion focusing on Culp's financial model.
The event is open to the public, and interested participants can register to join live or access a replay via www.culp.com.
Culp, Inc. (NYSE: CULP) will participate in the Sidoti Virtual Investor Conference on June 23-24, 2021. Ken Bowling, CFO, will present on June 23 at 8:30 a.m. Eastern time. Investors can access a live webcast of the presentation through Sidoti Presentation Weblinks. Culp is a leading marketer of mattress and upholstery fabrics, with manufacturing capabilities in the U.S., Canada, China, Haiti, Turkey, and Vietnam.
Culp, Inc. (NYSE: CULP) reported strong financial results for the fourth quarter and fiscal year 2021, with net sales of $79.1 million, up 67% year-over-year. Mattress fabrics sales surged 84%, while upholstery fabrics increased by 50%. The company achieved net income from continuing operations of $1.5 million, or $0.12 per diluted share, recovering from a net loss of $(16.2) million in the prior year. Cash flow from operations stood at $21.5 million, with total cash and investments at $46.9 million. Looking ahead, CULP expects a 20% increase in Q1 2022 net sales compared to last year.
Culp, Inc. (NYSE: CULP) is set to host a fourth quarter and fiscal 2021 conference call on June 17, 2021, at 11:00 a.m. ET. The call will discuss financial and operational results for the quarter and fiscal year ending on May 2, 2021. A press release detailing these results will be published after market close on June 16, 2021. Culp is a leading marketer of mattress and upholstery fabrics, operating globally with manufacturing and sourcing in multiple countries including the U.S., Canada, China, and Vietnam.
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