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Culp (CULP)
NYSE:CULP
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
-$0.13Last Year’s EPS
-$0.26Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 04, 2024
|% Change Since: 5.39%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant progress in the restructuring process, particularly in the mattress fabrics segment, with sequential improvements in sales and reduced operating losses. However, the company faced challenges including a decline in consolidated revenue and continued pressure in the residential upholstery fabrics segment. The hospitality contract business showed solid performance, providing some balance to the overall results.Company Guidance
During the Culp, Inc. earnings call for Q2 2025, the company provided several metrics and insights into its ongoing restructuring efforts and financial performance. Despite a 5.2% year-over-year decline in consolidated revenue, driven by a 6.4% drop in Upholstery Fabrics sales and a 4.2% decrease in Mattress Fabrics sales, the company reported sequential improvements in Mattress Fabrics, with sales increasing by 7.1% from Q1 2025. Operating losses for the quarter reached $5.4 million, including $2.8 million in restructuring charges, while adjusted operating losses improved to $2.6 million from the prior quarter's $3.5 million. The restructuring plan aims to deliver annualized cost savings of $10 to $11 million, primarily through the Mattress Fabrics segment, with a focus on achieving positive consolidated adjusted operating income by Q4 2025. Additionally, Culp anticipates $6 to $8 million in proceeds from the sale of its Canadian facility and forecasts positive adjusted EBITDA for the second half of fiscal 2025.Sequential Improvement in Mattress Fabrics
Sales for the Mattress Fabrics segment increased 7.1% compared to the first quarter of fiscal '25, driven by higher order levels and strategic placements.
Reduced Operating Loss in Mattress Fabrics
The Mattress Fabrics segment reduced its operating loss by 70.7% for the quarter, reflecting progress in restructuring activities.
Completion of Major Restructuring Initiatives
The majority of restructuring was completed in Q3, including ceasing production in Canada and optimizing operations in North Carolina and Haiti.
Hospitality Contract Fabric Business Performance
Sales for the hospitality contract fabric business remained solid during the quarter, representing 35% of Upholstery Fabrics' total sales.
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CULP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CULP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 04, 2024 | $5.19 | $4.95 | -4.62% |
| Sep 04, 2024 | $4.94 | $5.08 | +2.83% |
| Jun 27, 2024 | $4.44 | $4.48 | +0.90% |
| Mar 06, 2024 | $4.70 | $5.03 | +7.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Culp (CULP) report earnings?
Culp (CULP) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Culp (CULP) earnings time?
Culp (CULP) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CULP EPS forecast?
CULP EPS forecast for the fiscal quarter 2025 (Q3) is -$0.13.
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