Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture. The company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp's manufacturing facilities and fabrics sourced through other suppliers. Culp has manufacturing and sourcing capabilities located in the United States, Canada, China, Haiti, Turkey, and Vietnam.

Company profile
Ticker
CULP
Exchange
Website
CEO
Robert Culp
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Crown Crafts ...
SEC CIK
Corporate docs
Subsidiaries
Culp Fabrics (Shanghai) Co., Ltd. • Culp International Holdings Ltd. • Culp Home Fashions – Haiti, Ltd. • Culp Upholstery Fabrics – Haiti, Ltd. • Rayonese Textile Inc. • Read Window Products, LLC ...
IRS number
561001967
CULP stock data
News

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Calendar
15 Jul 22
19 Aug 22
3 May 23
Financial summary
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Diluted EPS |
Annual (USD) | May 22 | May 21 | May 20 | Apr 19 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 14.55M | 14.55M | 14.55M | 14.55M | 14.55M | 14.55M |
Cash burn (monthly) | (no burn) | 1.87M | 1.92M | (no burn) | 1.69M | 1.45M |
Cash used (since last report) | n/a | 6.83M | 7.02M | n/a | 6.17M | 5.3M |
Cash remaining | n/a | 7.72M | 7.53M | n/a | 8.38M | 9.25M |
Runway (months of cash) | n/a | 4.1 | 3.9 | n/a | 5.0 | 6.4 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
10 Aug 22 | Robert George Iv Culp | RSU Common Stock | Grant | Acquire A | No | No | 0 | 55,741 | 0 | 55,741 |
10 Aug 22 | Kenneth R Bowling | RSU Common Stock | Grant | Acquire A | No | No | 0 | 22,630 | 0 | 22,630 |
10 Aug 22 | Chumbley Boyd Brooks | RSU Common Stock | Grant | Acquire A | No | No | 0 | 26,944 | 0 | 26,944 |
10 Aug 22 | Ashley Carter Durbin | RSU Common Stock | Grant | Acquire A | No | No | 0 | 10,926 | 0 | 10,926 |
10 Aug 22 | Teresa Atkins Huffman | RSU Common Stock | Grant | Acquire A | No | No | 0 | 10,485 | 0 | 10,485 |
Institutional ownership, Q2 2022
13F holders | Current |
---|---|
Total holders | 46 |
Opened positions | 9 |
Closed positions | 6 |
Increased positions | 12 |
Reduced positions | 14 |
13F shares | Current |
---|---|
Total value | 106.24M |
Total shares | 14.33M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Mill Road Capital III | 6.8M | $64.71M |
CIBC Private Wealth | 879.84K | $3.78M |
Renaissance Technologies | 783.42K | $3.37M |
22NW | 730.91K | $3.14M |
Mill Road Capital Management | 695.47K | $2.99M |
Dimensional Fund Advisors | 689.16K | $2.96M |
AMP Ameriprise Financial | 594.01K | $2.55M |
Brown Advisory | 531.94K | $2.29M |
Vanguard | 439.73K | $1.89M |
BLK Blackrock | 389.34K | $1.68M |
Financial report summary
?Risks
- The 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.
- Continued economic and industry uncertainty could negatively affect our sales and earnings.
- 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, terrorism, and the effects of climate change, 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.
- Write-offs or write-downs of assets would result in a decrease in our earnings and shareholders’ equity.
- 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 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.
- Our intellectual property rights may not prevent others from using our copyrights or trademarks in connection with the sale of competitive products. We may be subject to claims that our products or trademarks infringe intellectual property rights of others.
- 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
- We did not meet the GILTI High-Tax exception for the 2021 tax year regarding our operations located in China. This was due primarily to significant income tax deductible foreign exchange losses that significantly lowered income tax expense associated with current year’s earnings. As a result, the current effective income tax rate was lower than the required 18.9% current effective income tax rate to meet the GILTI High-Tax exception. Consequently, we incurred a non-cash income tax charge of $1.8 million, which charge was fully offset by a $1.8 million non-cash income tax benefit due to a corresponding reversal of our full valuation allowance associated with our U.S. net deferred income tax assets.
Content analysis
?Positive | ||
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H.S. sophomore Avg
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New words:
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Removed:
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Financial reports
Current reports
8-K/A
Departure of Directors or Certain Officers
12 Aug 22
8-K
Departure of Directors or Certain Officers
27 Jul 22
8-K
Entry into a Material Definitive Agreement
29 Jun 22
8-K
Regulation FD Disclosure
25 Apr 22
8-K
Results of Operations and Financial Condition
2 Mar 22
8-K
Results of Operations and Financial Condition
1 Dec 21
8-K
Culp Announces Revised Expectations
3 Nov 21
8-K
Submission of Matters to a Vote of Security Holders
4 Oct 21
8-K
Results of Operations and Financial Condition
1 Sep 21
8-K
Departure of Directors or Certain Officers
27 Jul 21
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
Other
SD
Conflict minerals disclosure
26 May 22
SD
Conflict minerals disclosure
25 May 21
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
Ownership
4
CULP / Thomas Bernard Gallagher JR ownership change
12 Aug 22
4
CULP / Teresa Atkins Huffman ownership change
12 Aug 22
4
CULP / Ashley Carter Durbin ownership change
12 Aug 22
4
CULP / BOYD BROOKS CHUMBLEY ownership change
12 Aug 22
4
CULP / Kenneth R Bowling ownership change
12 Aug 22
4
CULP / ROBERT GEORGE IV CULP ownership change
12 Aug 22
4
CULP / Jonathan Lee Kelly ownership change
20 Jul 22
4
CULP / Jonathan Lee Kelly ownership change
19 Jul 22
4
CULP / Ashley Carter Durbin ownership change
14 Jul 22
4
CULP / Kenneth R Bowling ownership change
13 Jul 22
Transcripts
2022 Q4
Earnings call transcript
30 Jun 22
2022 Q3
Earnings call transcript
3 Mar 22
2022 Q2
Earnings call transcript
2 Dec 21
2022 Q1
Earnings call transcript
2 Sep 21
2021 Q4
Earnings call transcript
17 Jun 21
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
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Daily Discussion Thread - June 28th, 2022
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