CULP INC
Business
Culp Inc. is a marketer of mattress and upholstery fabrics for bedding and furniture manufacturers in North America and globally. The company offers knitted and woven fabrics, sewn mattress covers, cut-and-sewn kits, and window treatment products produced at owned facilities and sourced from third-party suppliers. Culp operates two reportable segments—bedding and upholstery—with manufacturing and distribution in North Carolina, Haiti, China, and sourcing from Turkey, Vietnam, and Mexico.
Summary from 10-K filed 2026-07-17
Financials
Consolidated Statement of Income
| Concept | Trend | May 3, 2026 2026-05-03 | Apr 27, 2025 2025-04-27 |
|---|---|---|---|
| Net sales | 203 | 213 | |
| Cost of sales | 178 | 188 | |
| Gross profit | 25 | 25 | |
| Selling, general and administrative expenses | 35 | 36 | |
| Restructuring credit (expense) | 2 | −8 | |
| Loss from operations | −7 | −18 | |
| Interest expense | 759,000 | 231,000 | |
| Interest income | 1 | 915,000 | |
| Other expense, net | −1 | −1 | |
| Loss before income taxes | −8 | −19 | |
| Income tax expense | 2 | 392,000 | |
| Net loss | −10 | −19 | |
| Net loss per share-basic | −0.81 | −1.53 | |
| Net loss per share-diluted | −0.81 | −1.53 |
Consolidated Balance Sheet
| Concept | Trend | May 3, 2026 2026-05-03 | Apr 27, 2025 2025-04-27 |
|---|---|---|---|
| Current assets: | — | — | |
| Cash and cash equivalents | 8 | 6 | |
| Short-term investments - rabbi trust | 1 | 1 | |
| Accounts receivable, net | 20 | 22 | |
| Inventories | 47 | 49 | |
| Short-term note receivable | 297,000 | 280,000 | |
| Income taxes receivable | 142,000 | 0 | |
| Assets held for sale | 0 | 2 | |
| Other current assets | 3 | 3 | |
| Total current assets | 81 | 84 | |
| Property, plant and equipment | 21 | 25 | |
| Right of use assets | 3 | 6 | |
| Intangible assets | 355,000 | 960,000 | |
| Long-term investments - rabbi trust | 5 | 6 | |
| Long-term note receivable | 885,000 | 1 | |
| Deferred income taxes | 503,000 | 637,000 | |
| Other assets | 562,000 | 591,000 | |
| Total assets | 112 | 123 | |
| Current liabilities | — | — | |
| Lines of credit - current | 12 | 8 | |
| Accounts payable - trade | 26 | 27 | |
| Accounts payable - capital expenditures | 236,000 | 23,000 | |
| Operating lease liabilities - current | 956,000 | 2 | |
| Deferred compensation - current | 1 | 1 | |
| Deferred revenue | 281,000 | 422,000 | |
| Accrued restructuring | 47,000 | 610,000 | |
| Accrued expenses | 4 | 5 | |
| Income taxes payable - current | — | 1 | |
| Total current liabilities | 45 | 47 | |
| Lines of credit - long term | 7 | 5 | |
| Operating lease liabilitues - long-term | 1 | 3 | |
| Income taxes payable - long-term | 983,000 | 790,000 | |
| Deferred income taxes | 5 | 5 | |
| Deferred compensation - long-term | 5 | 6 | |
| Total liabilities | 64 | 66 | |
| Commitments and contingencies (Notes 11, 13, and 14) | — | — | |
| Shareholders' equity: | — | — | |
| Preferred stock, $.05 par value, authorized 10,000,000 shares, no shares issued and outstanding at May 3, 2026, and April 27, 2025, respectively | — | — | |
| Common stock, $.05 par value, authorized 40,000,000 shares, issued and outstanding 12,662,784 at May 3, 2026 and 12,559,129 at April 27, 2025 | 633,000 | 628,000 | |
| Capital contributed in excess of par value | 46 | 46 | |
| Accumulated earnings | 1 | 11 | |
| Accumulated other comprehensive income | 319,000 | 150,000 | |
| Total equity | 48 | 58 | |
| Total liabilities and equity | 112 | 123 |
Consolidated Statement of Cash Flows
| Concept | Trend | May 3, 2026 2026-05-03 | Apr 27, 2025 2025-04-27 |
|---|---|---|---|
| Cash flows from operating activities: | — | — | |
| Net loss | −10 | −19 | |
| Adjustments to reconcile net loss to net cash used in operating activities: | — | — | |
| Depreciation | 4 | 5 | |
| Non-cash inventory charge (credit) | 2 | −2 | |
| Amortization | 321,000 | 405,000 | |
| Stock-based compensation | 625,000 | 650,000 | |
| Deferred income taxes | −138,000 | −1 | |
| Realized gain on sale of invesments (rabbi trust) | 34,000 | — | |
| Gain on sale of equipment | 4,000 | 27,000 | |
| Non-cash restructuring (credit) expense | −3 | 3 | |
| realized loss from the sale of investments | — | — | |
| Foreign currency exchange loss (gain) | −1 | 145,000 | |
| Changes in assets and liabilities: | — | — | |
| Accounts receivable | −2 | 722,000 | |
| Inventories | −7,000 | 2 | |
| Other current assets | −390,000 | −384,000 | |
| Other assets | −111,000 | −114,000 | |
| Accounts payable-trade | −2 | 2 | |
| Deferred revenue | −141,000 | −1 | |
| Accrued restructuring | −563,000 | 633,000 | |
| Accrued expenses and deferred compensation | −1 | −2 | |
| Income taxes | −1 | −485,000 | |
| Net cash used in operating activities | −9 | −18 | |
| Cash flows from investing activities: | — | — | |
| Capital expenditures | 596,000 | 3 | |
| Proceeds from the sale of property, plant, and equipment | 1 | 2 | |
| Proceeds from note receivable | 5 | 610,000 | |
| Proceeds from the sale of investments (rabbi trust) | 1 | 2 | |
| Purchase of investments (rabbi trust) | 631,000 | 735,000 | |
| Net cash provided by (used in) investing activities | 6 | 598,000 | |
| Cash flows from financing activities: | — | — | |
| Proceeds from lines of credit | 16 | 22 | |
| Payments on lines of credit | 11 | 9 | |
| dividends paid | — | — | |
| repurchases of common stock | — | — | |
| Payments for debt issuance costs | 169,000 | — | |
| Common stock surrendered for payroll withholding taxes | 76,000 | 68,000 | |
| Net cash provided by (used in) financing activities | 5 | 13 | |
| Effect of exchange rate changes on cash and cash equivalents | 150,000 | −4,000 | |
| Increase (decrease) in cash and cash equivalents | 3 | −4 | |
| Cash and cash equivalents at beginning of year | 6 | 10 | |
| Cash and cash equivalents at end of year | 8 | 6 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is CULP INC's CIK number?
CULP INC's SEC CIK number is 0000723603 (723603). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find CULP INC's SEC filings?
All of CULP INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did CULP INC last report earnings?
CULP INC (CULP) most recently filed an earnings 8-K with the SEC on Jul 1, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-292684). This is CULP INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is CULP INC's most recent earnings 8-K?
CULP INC's latest earnings 8-K (Item 2.02) was filed Jul 1, 2026 under accession 0001193125-26-292684. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View CULP INC's latest earnings 8-K →
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