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CULP

Culp, Inc.

CULP

Culp, Inc. • NYSE
$3.99 ▼ -2.44% (-0.10)
Market Cap $50.08 M
52w High $5.94
52w Low $3.42
Dividend Yield 0%
P/E -4.11
Volume 10.96K
Outstanding Shares 12.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2025 $50.691M ▲ $5.611M ▼ $2.507M ▲ 4.946% ▲ $-0.02 ▲ $1.617M ▲
Q4-2024 $48.773M ▼ $8.47M ▼ $-2.073M ▲ -4.25% ▲ $-0.17 ▲ $-950K ▲
Q3-2024 $52.253M ▼ $8.579M ▼ $-4.126M ▲ -7.896% ▲ $-0.33 ▼ $-2.305M ▲
Q2-2024 $55.674M ▼ $11.39M ▲ $-5.644M ▲ -10.138% ▲ $0.58 ▲ $-4.067M ▲
Q1-2024 $56.537M $9.296M $-7.261M -12.843% $-0.58 $-5.313M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2025 $11.094M ▲ $126.414M ▲ $68.767M ▲ $126.414M ▲
Q4-2024 $6.954M ▼ $123.37M ▼ $65.73M ▼ $57.64M ▼
Q3-2024 $7.032M ▼ $127.555M ▼ $67.905M ▲ $59.65M ▼
Q2-2024 $11.45M ▼ $128.987M ▼ $65.364M ▲ $128.987M ▲
Q1-2024 $14.426M $129.139M $60.015M $69.124M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2025 $-231K ▲ $-695K ▲ $986K ▼ $5.154M ▼ $5.465M ▲ $-874K ▲
Q4-2024 $-2.073M ▲ $-8.225M ▼ $1.218M ▲ $7.343M ▲ $350K ▲ $-8.732M ▼
Q3-2024 $-4.126M ▲ $-6.792M ▼ $167K ▲ $1.388M ▲ $-5.252M ▼ $-7.654M ▼
Q2-2024 $-5.644M ▲ $-2.427M ▼ $-455K ▼ $-68K ▼ $-2.941M ▼ $-3.504M ▼
Q1-2024 $-7.261M $-206K $-332K $4.01M $3.46M $-707K

Revenue by Products

Product Q4-2021Q1-2022Q4-2022Q1-2025
Bedding
Bedding
 $0 ▲$0 ▲$0 ▲$30.00M ▲
Upholstery
Upholstery
 $0 ▲$0 ▲$0 ▲$20.00M ▲
Mattress Fabrics
Mattress Fabrics
 $30.00M ▲$30.00M ▲$30.00M ▲$0 ▼
Upholstery Fabrics
Upholstery Fabrics
 $30.00M ▲$30.00M ▲$30.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Culp’s sales have drifted down from their pre‑pandemic peak and have been fairly flat in the last few years. Profitability is the main weak spot: gross margins are thin, operating results have been negative for several years, and net losses have become a pattern rather than a one‑off event. Earnings per share have been in the red and the loss per share has actually widened most recently, suggesting that cost pressures and soft demand are still outweighing the benefits of past restructuring. Overall, this is a business in transition that has not yet restored consistent profitability.

Balance Sheet

Balance Sheet The balance sheet is modest but generally conservative. Total assets have gradually shrunk, reflecting a smaller, leaner business footprint. Shareholders’ equity has also trended down, which is what you would expect after several years of losses. On the positive side, debt levels are very low, and the company keeps some cash on hand, which reduces financial risk compared with a heavily leveraged manufacturer. The trade‑off is that there is less asset backing and a thinner equity cushion than a few years ago, leaving less room for prolonged weak performance.

Cash Flow

Cash Flow Cash generation has been uneven. Operating cash flow flipped between positive and negative over the last few years, with the most recent periods again showing cash outflows from operations rather than inflows. Free cash flow followed the same pattern, as investment spending has been modest but not enough to offset the drag from weak operating performance. The low level of capital spending limits cash needs, but it also raises questions about how much is being reinvested for growth and efficiency. Sustained, reliable positive cash flow has not yet been re‑established.

Competitive Edge

Competitive Edge Culp operates in a tough, cyclical, and price‑sensitive part of the home furnishings value chain, where many products can look similar and buyers have bargaining power. Its edge comes less from sheer scale and more from specialized fabric technologies, design capabilities, and long‑standing relationships with large bedding and furniture manufacturers. A diversified global manufacturing and sourcing network helps it manage tariffs, labor costs, and supply disruptions. Even so, demand swings in housing and consumer spending can quickly pressure volumes and margins, so Culp’s competitive position is solid but not immune to industry cycles.

Innovation and R&D

Innovation and R&D Innovation is a clear bright spot. Culp has built branded fabric platforms around performance, wellness, and sustainability—such as stain‑resistant and moisture‑barrier lines, antimicrobial offerings, wellness‑oriented fabrics that reflect body heat as infrared energy, and products made with recycled materials. Some of these have regulatory recognition as wellness devices, and the company has also achieved environmental milestones like zero‑waste status at certain facilities. On top of that, it has invested in digital design tools and an integrated “fabric‑to‑cover” mattress solution that simplifies customers’ supply chains. The recent move to combine its divisions into a single integrated business is another attempt to tie innovation more tightly to efficiency and speed to market.

Summary

Culp is a niche textile manufacturer with a long history and a strong focus on innovative fabrics, but its recent financial record reflects a challenging environment. Revenue has softened from earlier highs and profits have remained elusive, leading to shrinking equity and inconsistent cash generation. The balance sheet is relatively low‑debt, which tempers financial risk, yet also signals limited excess resources if conditions remain weak. Strategically, the company is leaning on performance and wellness fabrics, sustainability, digital design, and a streamlined, global production footprint to strengthen its moat. The key questions going forward are whether these strengths can translate into steadier sales, improved margins, and more dependable cash flow in a cyclical and highly competitive industry.

NEWS

September 10, 2025 · 4:30 PM UTC

Culp Announces First Quarter Fiscal 2026 Results

Read more