Culp Inc Stock Price, News & Analysis

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.

Culp, Inc. has appointed Jeff Tsacoumangos as Head of Global Strategic Transformation, Supply Chain, and Service for its mattress fabrics division, Culp Home Fashions. Previously serving as Director of Quality Assurance, Tsacoumangos will leverage his expertise to enhance supply chain logistics and synergies. Additionally, Jeff Veach has been named Vice President of Sales and Marketing, bringing 23 years of industry experience. Both appointments are expected to strengthen CHF’s market position and enhance overall customer experience.

Culp, Inc. (NYSE: CULP) announced that CEO Robert G. Culp, IV will participate in the Water Tower Research Fireside Chat Series on April 21, 2021, at 1:00 p.m. ET. This public event will feature a 30-minute virtual discussion with Senior Analyst Budd Bugatch, focusing on Mr. Culp's leadership and strategic priorities. The webcast will be available live and for replay on Culp's Investor Relations website. Interested parties can register for the event, which is open to limited participants. Culp, Inc. is a leading marketer of mattress and upholstery fabrics worldwide.

Culp, Inc. (NYSE: CULP) reported financial results for Q3 FY2021, with net sales reaching $79.3 million, a 15.8% increase year-over-year. Sales from mattress fabrics rose 15.1%, while upholstery fabrics grew by 16.4%. The company achieved a pre-tax income of $3.1 million, up from $2.7 million in the prior year. Net income increased to $2.1 million or $0.17 per share, compared to $1.0 million or $0.08 per share previously. A quarterly dividend of $0.11 per share was announced, and a share repurchase program of $5 million has been reinstated.

Culp, Inc. (NYSE: CULP) will host a third quarter fiscal 2021 conference call on March 4, 2021, at 11:00 a.m. ET. The call will review the company's financial results for the quarter ending January 31, 2021.

A press release with detailed results will be issued after market close on March 3, 2021. The live webcast can be accessed at www.culp.com and will be available for replay for 30 days.

Culp, Inc. (NYSE: CULP) has announced significant steps to enhance its mattress cover operations by acquiring the remaining 50% ownership of its Haitian joint venture, becoming the sole owner. This move is driven by rising demand for sewn mattress covers, with CULP reporting better-than-expected performance in its upholstery fabrics division. The company is updating its financial outlook for Q3 fiscal 2021, projecting improved sales and operating income compared to the previous year. CULP continues to innovate and expand production capabilities across its global platform.

Culp, Inc. (NYSE: CULP) will participate in the Sidoti Winter 2021 Virtual Conference on January 13-14, 2021. The investor presentation, led by CEO Robert G. Culp, IV and CFO Ken Bowling, is scheduled for January 13 at 11:30 a.m. Eastern time and will be available via a live webinar. Interested investors can register through the provided link. Culp, Inc. is a leading marketer of mattress and upholstery fabrics, serving a global client base with operations in the U.S., Canada, China, and Haiti.