Culp Announces First Quarter Fiscal 2027 Results
Culp posted Q1 fiscal 2027 net sales of $54.0 million, up 6.5% year-over-year despite one fewer selling week, and swung to net income of $6.0 million, or $0.47 per diluted share, from a $231 thousand loss a year ago. Earnings quality carries a caveat: $6.9 million of one-time IEEPA tariff refunds from U.S. Customs and Border Protection sit in GAAP results; excluding them, adjusted gross margin still improved roughly 17% to 15.6% of sales and the adjusted operating loss narrowed to $271 thousand from $1.9 million, with adjusted EBITDA positive at $566 thousand.
Key figures
- Eps
- 0.47
- Revenue
- 53973000
- Guidance
- Limited guidance: Q2 sequential sales volumes consistent with some growth over prior-year quarter; break-even operating income expected for Q2; accelerating adjusted EBITDA; continued net debt reduction
- Revenue Yoy
- 6.5%
- Fcf
- 7788000
- Net debt
- 3089000
- Total cash
- 10235000
- Total debt
- 13324000
- Adjusted fcf
- 8028000
- Gross margin
- 28.5%
- Gross profit
- 15378000
- Bedding sales
- 31750000
- Tariff refunds
- 6900000
- Adjusted ebitda
- 566000
- Total liquidity
- 29400000
- Operating income
- 6669000
- Upholstery sales
- 22223000
- Bedding sales yoy
- 13.2%
- Cash from operations
- 8102000
- Upholstery sales yoy
- -1.9%
- Adjusted gross margin
- 15.6%
- Adjusted gross profit
- 8438000
- Net debt prior fy end
- 10856000
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