CULP Culp

Culp, Inc. engages in the design, manufacture, and trade of mattresses and upholstery products. It operates through the Mattress Fabrics and Upholstery Fabrics segments. The Mattress Fabrics segment markets and sells covers and beddings under the Culp Home Fashions brand. The Upholstery Fabrics segment produces and supplies fabrics for residential and commercial manufacturers. The company was founded by Robert G. Culp, Jr. and Robert G. Culp, III in 1972 and is headquartered in High Point, NC.
Company profile
Ticker
CULP
Exchange
Website
CEO
Robert Culp
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Crown Crafts ...
SEC CIK
Corporate docs
IRS number
561001967
CULP stock data
()
Calendar
12 Mar 21
21 Apr 21
3 May 21
Financial summary
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Financial data from Culp earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 35.99M | 35.99M | 35.99M | 35.99M | 35.99M | 35.99M |
Cash burn (monthly) | 3.1M | (positive/no burn) | (positive/no burn) | 629.67K | 350.67K | (positive/no burn) |
Cash used (since last report) | 8.38M | n/a | n/a | 1.7M | 947.44K | n/a |
Cash remaining | 27.61M | n/a | n/a | 34.29M | 35.04M | n/a |
Runway (months of cash) | 8.9 | n/a | n/a | 54.5 | 99.9 | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 Apr 21 | Decker Sharon A | Common Stock | Grant | Aquire A | No | No | 0 | 877 | 0 | 9,531 |
1 Apr 21 | Mcallister Kenneth W | Common Stock | Grant | Aquire A | No | No | 0 | 957 | 0 | 41,010 |
1 Apr 21 | Jackson Fred A | Common Stock | Grant | Aquire A | No | No | 0 | 877 | 0 | 34,097 |
1 Apr 21 | Larson Kenneth R | Common Stock | Grant | Aquire A | No | No | 0 | 877 | 0 | 21,864 |
1 Apr 21 | Davis Perry E | Common Stock | Grant | Aquire A | No | No | 0 | 877 | 0 | 8,814 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
74.3% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 65 |
Opened positions | 12 |
Closed positions | 8 |
Increased positions | 20 |
Reduced positions | 29 |
13F shares |
Current |
---|---|
Total value | 146.04M |
Total shares | 9.15M |
Total puts | 125.1K |
Total calls | 0 |
Total put/call ratio | Infinity |
Largest owners |
Shares | Value |
---|---|---|
Renaissance Technologies | 948.62K | $15.06M |
CIBC Private Wealth | 879.84K | $13.96M |
Dimensional Fund Advisors | 785.85K | $12.47M |
Mill Road Capital Management | 623.97K | $9.9M |
Brown Advisory | 545.2K | $8.65M |
Vanguard | 538.29K | $8.54M |
Russell Investments | 531.39K | $8.43M |
AMP Ameriprise Financial | 458.32K | $7.27M |
BLK Blackrock | 400.69K | $6.36M |
TROW T. Rowe Price | 347.53K | $5.52M |
Financial report summary
?Risks
- The ongoing global COVID-19 pandemic has significantly and adversely affected, and may continue to adversely affect, our business, financial position, results of operations, and cash flows.
- Loss of market share due to competition would result in declines in sales and could result in losses or decreases in earnings.
- Our operations are subject to risks of unsettled political conditions, civil unrest or instability, public health concerns or pandemics, natural or man-made disasters, acts of war, and terrorism, any one of which could adversely affect our business and results of operations.
- Our business may be adversely affected by increased tariffs or other changes in U.S. policy related to imported products, as well as violations of existing trade policies.
- Greater reliance on offshore operations and foreign sources of products or raw materials increases the likelihood of disruptions to our supply chain or our ability to deliver products to our customers on a timely basis.
- Our business faces several risks associated with doing business in China
- We may have difficulty managing the outsourcing arrangements being used for products and services.
- Changes in the price, availability, and quality of raw materials could increase our costs or cause production delays and sales interruptions, which would result in decreased earnings.
- Increases in energy costs would increase our operating costs and could adversely affect earnings.
- Business difficulties or failures of large customers could result in a decrease in our sales and earnings.
- If we fail to anticipate and respond to changes in consumer tastes and fashion trends, our sales and earnings may decline.
- Increasing dependence on information technology systems comes with specific risks, including cybersecurity breaches and data leaks, which could have an adverse effect on our business.
- We may not be able to recruit and retain key employees and skilled workers in a competitive labor market.
- We have made and expect to continue to make acquisitions, which could involve certain risks and uncertainties.
- We may require funding from external sources, which may not be available at the levels we require or may cost more than we expect. As a result, our expenses and operating results could be negatively affected.
- We are subject to litigation and environmental regulations that could adversely affect our sales and earnings.
- We must comply with many governmental regulations applicable to our business, and changes in those regulations could adversely affect our business.
Management Discussion
- Mattress fabrics sales decreased 9.8% in fiscal 2020 compared to the prior year. These results for fiscal 2020 reflected the significant disruption from the COVID-19 pandemic during the fourth quarter of fiscal 2020. We experienced a rapid drop in demand beginning in mid-March, as customers and retail mattress and home furnishings stores began closing or substantially limiting their operations. Due to government-mandated closure requirements near the end of March, we shut down our facilities in Canada and Haiti for several weeks. We also reduced our production schedules and furloughed workers at our U.S. facilities to align with the severely reduced demand, while aggressively cutting costs, delaying non-essential capital expenditures, and reducing inventory.
Content analysis
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Readability |
H.S. junior Avg
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New words:
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Removed:
building, CLIH, encouraged, Evolve, maximize, pertaining, pressured, qualitative, treatment
Financial reports
10-Q
2021 Q3
Quarterly report
12 Mar 21
10-Q
2021 Q2
Quarterly report
11 Dec 20
10-Q
2021 Q1
Quarterly report
11 Sep 20
10-K
2020 FY
Annual report
17 Jul 20
10-Q
2020 Q3
Quarterly report
13 Mar 20
10-Q
2020 Q2
Quarterly report
13 Dec 19
10-Q
2020 Q1
Quarterly report
13 Sep 19
10-K
2019 FY
Annual report
12 Jul 19
10-Q
2019 Q3
Quarterly report
8 Mar 19
10-Q
2019 Q2
Quarterly report
7 Dec 18
Current reports
8-K
Results of Operations and Financial Condition
3 Mar 21
8-K
Culp, Inc. Announces Investments and Enhancements
2 Feb 21
8-K
Results of Operations and Financial Condition
3 Dec 20
8-K
Submission of Matters to a Vote of Security Holders
6 Oct 20
8-K
Results of Operations and Financial Condition
2 Sep 20
8-K
Results of Operations and Financial Condition
5 Aug 20
8-K
Departure of Directors or Certain Officers
29 Jul 20
8-K
Entry into a Material Definitive Agreement
1 Jul 20
8-K
Other Events
14 May 20
8-K
Entry into a Material Definitive Agreement
21 Apr 20
Registration and prospectus
S-8
Registration of securities for employees
29 Sep 15
25-NSE
Exchange delisting
20 Sep 10
S-8
Registration of securities for employees
27 Nov 07
S-8 POS
Registration of securities for employees (post-effective amendment)
4 Nov 07
S-3/A
Shelf registration (amended)
1 Apr 07
S-3
Shelf registration
15 Mar 07
REGDEX
Notice of sale of securities
29 Jan 07
S-8
Registration of securities for employees
11 Dec 02
S-8 POS
Registration of securities for employees (post-effective amendment)
25 Apr 01
S-8
Registration of securities for employees
24 Apr 01
Proxies
DEF 14A
Definitive proxy
26 Aug 20
DEF 14A
Definitive proxy
22 Aug 19
DEF 14A
Definitive proxy
17 Aug 18
DEF 14A
Definitive proxy
17 Aug 17
DEF 14A
Definitive proxy
18 Aug 16
DEF 14A
Definitive proxy
11 Aug 15
DEF 14A
Definitive proxy
14 Aug 14
DEF 14A
Definitive proxy
14 Aug 13
DEF 14A
Definitive proxy
14 Aug 12
DEF 14A
Definitive proxy
17 Aug 11
Other
SD
Conflict minerals disclosure
1 Jun 20
SD
Conflict minerals disclosure
30 May 19
SD
Conflict minerals disclosure
25 May 18
SD
Conflict minerals disclosure
18 May 17
UPLOAD
Letter from SEC
5 Apr 17
CORRESP
Correspondence with SEC
3 Apr 17
CORRESP
Correspondence with SEC
14 Mar 17
UPLOAD
Letter from SEC
6 Mar 17
SD
Conflict minerals disclosure
22 May 16
SD
Conflict minerals disclosure
6 May 15
Ownership
4
CULP / PERRY E DAVIS ownership change
5 Apr 21
4
CULP / KENNETH R LARSON ownership change
5 Apr 21
4
CULP / FRED A JACKSON ownership change
5 Apr 21
4
CULP / KENNETH W MCALLISTER ownership change
5 Apr 21
4
CULP / SHARON A DECKER ownership change
2 Apr 21
SC 13G/A
CULP / PRICE T ROWE ASSOCIATES ownership change
15 Feb 21
SC 13G/A
CULP / DIMENSIONAL FUND ADVISORS ownership change
11 Feb 21
SC 13G/A
CULP / RENAISSANCE TECHNOLOGIES ownership change
11 Feb 21
4
CULP / FRANKLIN N SAXON ownership change
5 Feb 21
4
CULP / ROBERT GEORGE IV CULP ownership change
5 Feb 21
Transcripts
2021 Q3
Earnings call transcript
4 Mar 21
2021 Q2
Earnings call transcript
4 Dec 20
2021 Q1
Earnings call transcript
3 Sep 20
2020 Q4
Earnings call transcript
2 Jul 20
2020 Q3
Earnings call transcript
5 Mar 20
2020 Q2
Earnings call transcript
6 Dec 19
2020 Q1
Earnings call transcript
6 Sep 19
2019 Q4
Earnings call transcript
13 Jun 19
2019 Q3
Earnings call transcript
4 Mar 19
2019 Q2
Earnings call transcript
30 Nov 18
Reddit threads
Coupon%
14 Apr 21
Daily Discussion Thread - April 8th, 2021
8 Apr 21
Daily Discussion Thread - April 7th, 2021
7 Apr 21
Daily Discussion Thread - April 6th, 2021
6 Apr 21
Daily Discussion Thread - April 5th, 2021
5 Apr 21
Daily Discussion Thread - March 3rd, 2021
3 Mar 21
Daily Discussion Thread - March 2nd, 2021
2 Mar 21
Daily Discussion Thread - March 1st, 2021
1 Mar 21
Daily Discussion Thread - January 7th, 2021
7 Jan 21
Daily Discussion Thread - January 6th, 2021
6 Jan 21