Every 10-Q that Culp Inc (CULP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CULP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CULP filings page.
Culp, Inc. reported continued losses for the period ended February 1, 2026, but results improved compared with the prior year. Net sales for the three months were $47,965,000 versus $52,253,000, with a net loss of $3,432,000 versus $4,126,000. For the nine months, net sales were $151,859,000 versus $164,464,000, and the net loss narrowed to $7,969,000 from $17,031,000, helped by a $4,000,000 gain on the sale of a Quebec facility and other restructuring credits.
Gross profit improved year to date despite lower sales, and restructuring moved from a $6,317,000 expense to a $2,425,000 credit. Cash and cash equivalents rose to $9,687,000, while borrowings on lines of credit increased to $18,533,000. The company is consolidating bedding and upholstery operations into a single Culp-branded platform and recorded impairments on certain Read-related intangibles, reflecting pressure in that business.
Culp, Inc. reported a smaller net loss for the second quarter of fiscal 2026 as restructuring gains offset softer sales. For the three months ended November 2, 2025, net sales were $53.2 million versus $55.7 million a year earlier, with a net loss of $4.3 million compared with $5.6 million. Over the first six months, sales declined to $103.9 million from $112.2 million, but the net loss narrowed sharply to $4.5 million from $12.9 million, helped by a $3.0 million restructuring credit that includes a $4.0 million gain on the sale of a Quebec manufacturing property.
Gross profit improved year-to-date despite lower revenue, while operating loss shrank from $12.3 million to $1.8 million. Cash used in operations was $1.2 million, with cash and cash equivalents rising to $10.7 million at period end, supported by higher borrowings under lines of credit totaling $18.3 million. Shareholders’ equity decreased to $53.6 million, reflecting accumulated losses, and the company continues multi-year restructuring and a strategic transformation to combine its bedding and upholstery operations into a single Culp-branded business.
Culp Inc. disclosed first-quarter fiscal 2026 interim details showing active restructuring and strategic transformation initiatives expected to be substantially completed by December 31, 2025. The company recorded multiple one-time and non-cash items including inventory disposals/markdowns ($450,000), non-cash lease termination costs ($125,000), accelerated depreciation and impairments ($424,000), employee termination benefits ($207,000), facility consolidation costs ($432,000) and other related charges ($35,000). Capital assets and right-of-use assets are reported across the U.S., China, Haiti and Canada with property, plant and equipment totaling $22.1 million as of August 3, 2025.
Culp has a China credit facility comprised of a 10.0 million RMB ($1.4 million) unsecured working capital loan and 25.0 million RMB ($3.5 million) letters-of-credit capacity, with expirations in July and November 2025 and negotiations underway for renewal. The company is evaluating ASU 2024-03 for potential impact. Share metrics: approximately 12.6 million shares outstanding in August 2025 and a $5.0 million repurchase authorization approved in March 2020. Tax effects include a full valuation allowance against U.S. deferred tax assets and a mix of taxable results across jurisdictions affecting effective tax rates.