Culp, Inc. filings document material events for a public fabric manufacturer focused on bedding and upholstery markets. Recent reports include earnings-related 8-K disclosures, forward-looking risk language tied to housing demand, home furnishings demand, tariffs, international operations, freight, labor and raw-material costs, and the company’s global manufacturing and sourcing model.
The filing record also covers corporate-status and governance matters, including the voluntary withdrawal of Culp’s common stock from New York Stock Exchange listing registration through Form 25, its transfer to Nasdaq under the CULP symbol, board and officer changes, director independence and committee service, annual meeting voting results, auditor ratification, and advisory executive-compensation votes.
CULP, INC. (CULP) reported much stronger results for the quarter ended August 2, 2026. Net sales rose to $54.0 million from $50.7 million a year earlier, led by bedding segment sales of $31.8 million, while upholstery sales were roughly flat at $22.2 million.
Gross profit increased to $15.4 million from $7.2 million, boosted by a $6.9 million refund of previously paid U.S. import tariffs recorded in cost of sales. Net income swung to a $6.0 million profit from a $0.2 million loss, or $0.47 diluted EPS versus a $(0.02) loss. Operating cash flow improved to $8.1 million from a $0.7 million use of cash, helped by lower inventories and working capital changes. Total assets were $108.5 million with shareholders’ equity of $54.2 million and $13.3 million of lines of credit outstanding, all maturing within one year. The company remains subject to a full U.S. deferred tax valuation allowance of $27.7 million but was in compliance with its covenants and had $17.7 million of borrowing availability under its $30 million asset-based revolver.
Culp, Inc. (CULP) reported a strong turnaround for its first fiscal quarter ended August 2, 2026, with consolidated net sales of $54.0 million, up 6.5% from $50.7 million a year earlier, despite one less selling week. Reported gross profit rose to $15.4 million, or 28.5% of sales, from $7.2 million, or 14.3% of sales. This includes $6.9 million of IEEPA tariff refunds recorded in cost of sales; excluding these, adjusted gross profit was $8.4 million, or 15.6% of sales.
Operating income increased to $6.7 million (12.4% margin) from $1.6 million, while adjusted results showed a small operating loss of $0.3 million versus a $1.9 million loss a year ago. Net income was $6.0 million, or $0.47 per diluted share, compared with a net loss of $0.2 million. Adjusted EBITDA, which excludes tariff recoveries and other non‑recurring items, improved to $0.6 million from negative $0.9 million. Net debt fell over 70% to $3.1 million, supported by $8.1 million of operating cash flow and adjusted free cash flow of $8.0 million. Bedding segment sales grew 13.2% to $31.8 million, while upholstery sales were roughly flat at $22.2 million.
Culp, Inc. will hold its 2026 annual shareholders meeting on September 23, 2026, at its High Point, North Carolina offices. Holders of 12,719,922 common shares outstanding as of July 28, 2026 are entitled to one vote per share.
Shareholders will vote on three main items: electing seven directors to one‑year terms, ratifying Grant Thornton LLP as independent auditors for fiscal 2027, and an advisory Say‑on‑Pay vote on executive compensation. The board recommends voting FOR all proposals and is reducing its size from eight to seven members, with five of seven nominees independent and 29% women.
The company highlights strong governance practices, including annually elected directors, fully independent key committees, stock ownership guidelines, and policies against hedging or pledging. In fiscal 2026, challenging industry conditions led to an adjusted EBITDA of $(4.7) million and no annual cash bonuses or performance‑based equity vesting for named executive officers, while base salaries remained frozen, reflecting a pay‑for‑performance approach.
CULP INC officer Buck Forrest E, Vice President of Information Technology, reported beneficial ownership of 4,334 shares of CULP INC common stock. These shares are listed as being held with direct ownership, providing a clear disclosure of his equity position as a company insider.
Culp Inc Chief Operating Officer Mary Elizabeth Hunsberger reported equity-award activity on July 17, 2026. She converted 18,233 restricted stock units into common stock, including 14,758 service-based and 3,475 performance-based units tied to employment and upholstery-segment performance, and 5,205 shares of common stock were withheld at $3.70 per share to cover tax obligations.
Culp Inc. SVP & CHRO Teresa Atkins Huffman exercised 8,749 restricted stock units into common stock on July 17, 2026. To cover taxes, 2,952 shares were withheld at $3.70 per share. After these transactions, she directly held 16,043 Culp common shares. The trades were not reported as made under a Rule 10b5-1 plan.
Culp Inc Chief Commercial Officer Thomas Bruno vested and converted 17,907 restricted stock units into common stock on July 17, 2026. To satisfy tax obligations related to this vesting, 5,088 shares of common stock were withheld at $3.70 per share. The transactions were not made under a Rule 10b5-1 trading plan.
CULP INC Chief Financial Officer Kenneth R. Bowling reported equity compensation activity on July 17, 2026. 18,884 restricted stock units were converted into the same number of common shares at $0.0000 per share, and 9,788 shares were withheld at $3.7000 per share to cover tax obligations. After these transactions, he directly held 48,309 common shares, plus an estimated 18,170 shares through a 401(k) stock fund.
Robert George Culp IV, President & CEO of Culp Inc., reported exercising restricted stock units covering 22,361 shares of common stock at $0.00 per share on July 17, 2026, raising his direct holdings to 318,071 common shares. He also reported indirect ownership of 1,740 shares in each of two irrevocable trusts for his children, over which he has sole voting and investment power, and an estimated 129,085 shares through a 401(k) stock fund.