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Culp (CULP) investor relations material
Culp Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary11 Dec, 2025
Executive summary
Q2 FY26 consolidated net sales were $53.2M, up sequentially but down 4.4% year-over-year, with bedding sales increasing and upholstery sales declining.
Significant restructuring and cost optimization initiatives are expected to yield over $20M in annualized savings by FY27.
Bedding segment demonstrated sequential and year-over-year sales growth, while upholstery faced continued market softness and tariff impacts.
Revenue and gross profit have stabilized post-restructuring, with improved operating performance and narrowed net losses.
Operates two leading businesses in mattress and upholstery fabrics, serving global customers with manufacturing in the U.S., China, Haiti, Vietnam, and sourcing from Turkey.
Financial highlights
Gross profit for Q2 was $5.8M (10.9% of sales); adjusted gross profit was $6.7M (12.6% of sales), up from 12.1% last year.
SG&A expense improved by 7% year-over-year to $8.7M (16.4% of sales).
Adjusted operating loss was $2M, improved from $2.6M loss last year; net loss for Q2 was $(4.3)M, a 23.7% improvement.
Adjusted EBITDA was negative $1M, a slight improvement from negative $1.1M last year.
Cash and cash equivalents increased to $10.7M, with total liquidity of $28.1M.
Outlook and guidance
Steady consolidated sales are expected for the remainder of FY26, with higher expectations for the bedding segment.
Cost and efficiency gains from restructuring and integration, plus pricing actions, are expected to drive improved gross profit and lower SG&A, with near break-even to positive adjusted EBITDA in Q3.
Management anticipates continued bedding market stabilization and potential demand improvement from replacement cycles.
Focus remains on generating free cash flow, reducing debt, and tightly managing capital expenditures.
Industry forecasts call for 4% growth in 2026 and 8% in 2027 for mattress sales.
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Frequently asked questions
Culp, Inc. is a U.S.-based company specializing in the manufacture and distribution of fabrics for the home furnishings industry. The company operates in two primary segments: mattress fabrics and upholstery fabrics. Its products are used in mattresses, box springs, furniture, and related applications. Culp serves customers in the residential and commercial markets, providing innovative and stylish fabric solutions with a focus on quality and sustainability. The company is headquartered in High Point, North Carolina, and its shares are listed on the New York Stock Exchange (NYSE).
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