|Over a month ago|
Culp, Inc. falls -9.0% » 12:0007/0207/02/20
Culp, Inc. is down -9.0%,…
Culp, Inc. is down -9.0%, or -90c to $9.10.
Culp, Inc. falls -12.1% » 09:4707/0207/02/20
Culp, Inc. is down…
Culp, Inc. is down -12.1%, or -$1.21 to $8.79.
Fly Intel: After-Hours Movers » 18:5507/0107/01/20
VERO, FEIM, NUS, FORM, AXNX, LDOS, CULP, BLFS, PLYA, AKRO, MCD, FIZZ
Check out this evening's…
Culp, Inc. sees Q1 revenue improved from Q4 » 16:2407/0107/01/20
Although subject to…
Although subject to unforeseen changes that may arise as the pandemic and its economic impact continue to unfold, the company is encouraged by improving business conditions and expects sales and operating performance for Q1 of FY21 to be significantly improved as compared with Q4 of FY20, with operating income expected to be near break-even and the company's net cash position expected to be comparable to its net cash position at the end of FY20 year.
Culp, Inc. reports Q4 EPS cont-op ($1.56), consensus (16c) » 16:2307/0107/01/20
Reports Q4 revenue…
Reports Q4 revenue $47.4M, consensus $58.35M. Q4 results were severely affected by the coronavirus pandemic and included non-cash asset impairment charges in connection with the related business disruption. CEO Iv Culp said, "The broad economic disruption caused by the COVID-19 pandemic significantly affected our performance for Q4. As Q4 began, we were executing well on our strategic initiatives and generating momentum in our businesses. However, the impact of the COVID-19 pandemic began to materialize in the second half of March as retail stores across the country closed and many of our customers shut down or limited their operations for several weeks. (...) As a result of the measures we have taken, we ended Q4 with a net cash position that was stronger than the end of the third quarter, even with limited operations. Although the ongoing impact and duration of this economic and health crisis remains unknown, our business has improved materially since the end of fiscal 2020, and we are encouraged by positive sales trends and reports of consumer spending in the home furnishings sector. Our mattress fabrics segment and our upholstery fabrics segment have both seen better-than-expected increases in orders, shipments, and output for the first eight weeks of FY21. (...) Barring additional shutdowns as a result of the virus, we believe business will continue its solid return through Q1 and Q2 of FY21, and we will benefit from pent-up demand and increased consumer attention to the home environment and overall comfort (...)".
Culp, Inc. rises 18.4% » 12:0005/2905/29/20
Culp, Inc. is up 18.4%,…
Culp, Inc. is up 18.4%, or $1.25 to $8.04.
Culp, Inc. rises 17.4% » 10:0005/2905/29/20
Culp, Inc. is up 17.4%,…
Culp, Inc. is up 17.4%, or $1.18 to $7.97.
Culp, Inc. rises 9.7% » 09:4705/2905/29/20
Culp, Inc. is up 9.7%, or…
Culp, Inc. is up 9.7%, or 66c to $7.45.
Culp upgraded to Buy from Hold at Stifel » 20:2005/2805/28/20
Stifel analyst John Baugh…
Stifel analyst John Baugh upgraded Culp, Inc to Buy from Hold with a price target of $13, up from $8. The stock has fallen to about two-thirds of its tangible book value and now trades close to parity with its net working capital, the analyst tells investors in a research note. Baugh believes however that Culp has sufficient liquidity to survive the downturn, and its key bedding and furniture customers are already seeing a "material rebound" in business.
|Over a quarter ago|
Culp announces measures to increase production » 16:3304/2104/21/20
Culp announced updates to…
Culp announced updates to recent measures the company has taken across several locations in its global platform in North America and Asia to increase production of face masks, bedding covers, and fabrics for healthcare operations and consumer health. These additional steps include: Expanding its work with several companies to produce face masks for supply to FEMA. These non-medical grade, three-layer cotton masks are made in accordance with FDA standards and are sewn at the company's CLASS facilities in North Carolina and Haiti; Producing and supplying face masks for consumers and healthcare workers through the company's Culp Hospitality platform in Knoxville, Tennessee, and through the company's strategic partner relationships in Vietnam, which are now sewing face masks instead of upholstery fabric kits for the company. These non-medical grade, three-layer cotton masks are also made in accordance with FDA standards; Producing and supplying sewn bedding covers and bedding fabrics used for hospital beds at the company's CLASS facility in North Carolina and through the company's Asian platform; Working to assist other companies by using certain of Culp's lamination equipment and finishing capabilities at the company's facilities in Stokesdale, North Carolina, and Canada for their production of critical products for the healthcare industry, including woven medical gowns; and Utilizing the company's full-scale research and development team to develop fabrics and other solutions for current and future personal protection equipment needs.