Reported Q: Q4 2023 Rev YoY: -12.6% EPS YoY: -44.4% Move: +0.85%
Culp Inc
CULP
$3.55 0.85%
Exchange NYSE Sector Consumer Cyclical Industry Apparel Manufacturers
Q4 2023
Published: Jul 12, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for CULP

Reported

Report Date

Jul 12, 2024

Quarter Q4 2023

Revenue

49.53M

YoY: -12.6%

EPS

-0.39

YoY: -44.4%

Market Move

+0.85%

Previous quarter: N/A

Follow this company to get upcoming quarter alerts automatically.

Earnings Highlights

  • Revenue of $49.53M down 12.6% year-over-year
  • EPS of $-0.39 decreased by 44.4% from previous year
  • Gross margin of 10.5%
  • Net income of -4.87M
  • ""We ended the year with a higher cash position than the prior year, with $21 million in cash and no outstanding borrowings." - Iv Culp, CEO" - Iv Culp
CULP
Culp Inc

Executive Summary

Culp Inc (CULP) concluded its fiscal year 2023 with a modest sequential improvement in revenue and operational performance despite prevailing softness in demand across its key markets. The Q4 revenue rose to $49.53 million, driven by strategic new customer program rollouts, particularly in the Mattress Fabrics segment. While the company recorded a net loss of $4.87 million for the quarter, the performance signaled a recovery trajectory built on improved operational efficiencies and a focus on sustaining a robust balance sheet. Management underscored a commitment to a transformation strategy aimed at long-term operational excellence and market recovery as consumer spending stabilizes. Therefore, investors should keep a close watch on forthcoming program launches and macroeconomic factors influencing sector dynamics.

Key Performance Indicators

Revenue
Decreasing
49.53M
QoQ: -18.02% | YoY: -12.59%
Gross Profit
Decreasing
5.20M
10.50% margin
QoQ: -32.48% | YoY: -26.59%
Operating Income
Decreasing
-4.04M
QoQ: -125.92% | YoY: -31.21%
Net Income
Decreasing
-4.87M
QoQ: -52.60% | YoY: -45.57%
EPS
Decreasing
-0.39
QoQ: -50.00% | YoY: -44.44%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 48.77 -0.17 -1.5% View
Q3 2024 52.25 -0.33 -13.5% View
Q2 2024 55.67 0.58 -5.2% View
Q1 2024 56.54 -0.58 -3.7% View
Q4 2023 49.53 -0.39 -12.6% View