CULP INC (CULP) Form 8-K — Sep 9, 2026
Culp Inc. reported first quarter fiscal 2027 results with consolidated net sales of $54.0 million, up 6.5% year over year despite one less selling week, and net income of $6.0 million, or $0.47 per diluted share, versus a net loss of $231 thousand, or $(0.02) per share, in the prior-year period. The headline profit includes $6.9 million of one-time IEEPA tariff refunds received from U.S. Customs and Border Protection following the Supreme Court's February 2026 decision invalidating those tariffs.
Key figures
- Eps
- 0.47
- Revenue
- 53973000
- Guidance
- Q2 FY2027: consistent sequential sales volumes with some growth over the prior-year quarter; break-even operating income (significant improvement YoY); accelerating adjusted EBITDA; continued net debt improvement while maintaining strategic borrowings under China credit facilities. Only limited guidance given due to macro and tariff uncertainty.
- Net Income
- 5981000
- Total Debt
- 13324000
- Revenue Yoy
- 6.5%
- Total Assets
- 108486000
- Cash Position
- 10235000
- Shares Outstanding
- 12720000
- Net Debt
- $3.1 million, over 70% reduction from $10.9 million at fiscal year-end (May 3, 2026)
- Gross Profit
- $15.4 million (28.5% of sales) vs $7.2 million (14.3%) prior year
- Free Cash Flow
- $7.8 million vs negative $874 thousand prior year; adjusted free cash flow $8.0 million vs $311 thousand
- Tariff Refunds
- $6.9 million IEEPA tariff refunds from U.S. Customs and Border Protection, recorded in cost of sales
- Adjusted EBITDA
- $566 thousand vs negative $938 thousand prior year
- Total Liquidity
- $29.4 million
- Operating Income
- $6.7 million (12.4% of sales) vs $1.6 million (3.2%) prior year
- Insurance Proceeds
- $814,000 related to resolution of a legal matter
- Operating Cash Flow
- $8.1 million vs negative $695 thousand prior year
- Adjusted Gross Profit
- $8.4 million (15.6% of sales), ~17% increase ex-tariff recoveries
- Bedding Segment Sales
- $31.8 million, +13.2% YoY despite one less selling week
- Prior Year Diluted Eps
- -$0.02
- Adjusted Operating Loss
- -$271 thousand vs -$1.9 million prior year
- Upholstery Segment Sales
- $22.2 million, -1.9% YoY
- Trailing Twelve Month Adjusted EBITDA
- -$3.2 million
Price after filing
Close on the filing date to close N calendar days later (from $3.43). Historical, not a forecast.
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