Culp Inc Stock Price, News & Analysis

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.

Culp, Inc. (NYSE: CULP) reported a 10.5% increase in net sales for Q2 FY2021, reaching $76.9 million, with mattress fabric sales up 12.2% and upholstery fabric sales up 8.7%. Pre-tax income from continuing operations was $3.9 million, while net income increased to $2.4 million ($0.19 per diluted share). The company has strengthened its balance sheet with $56.5 million in cash and no debt. A 5% dividend increase was announced, marking the eighth consecutive year of growth. Limited financial guidance is provided due to COVID-19 uncertainties, though strong demand is noted in both mattress and upholstery segments.

Culp, Inc. (NYSE: CULP) is set to host a conference call on December 4, 2020, at 11:00 a.m. ET, to discuss its financial results for the second quarter ended November 1, 2020. A press release with these results will be issued on December 3, 2020, post-market close. Culp is recognized as a leading marketer of mattress and upholstery fabrics worldwide, with operations across the U.S., Canada, China, and Haiti. Stakeholders are encouraged to access the live webcast via Culp's website.

Culp, Inc. (NYSE: CULP) announced a first quarter fiscal 2021 conference call on September 3, 2020, at 11:00 a.m. ET. The company will discuss its financial and operating results for the quarter ending August 2, 2020. A press release detailing these results will be published after market close on September 2, 2020. The call will be accessible online, and an Internet replay will be available for 30 days. Culp is a leading marketer of mattress fabrics and upholstery fabrics globally, with operations in the U.S., Canada, China, and Haiti.

Culp, Inc. (NYSE: CULP) will host a webcast on July 2, 2020, at 11:00 a.m. ET to discuss its financial results for Q4 and fiscal year 2020, ending May 3, 2020. A press release detailing these results will be issued after market close on July 1, 2020. Culp is a leading marketer of mattress and upholstery fabrics, operating in the U.S., Canada, China, and Haiti.