External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

<ul><li>CULP, an industry leader in the textile manufacturing sector, has experienced difficulties due to a housing sales slowdown</li><li>Stock price trading below tangible book value offers potential opportunity for investors</li><li>Strong balance sheet, history of adapting to challenges, and future growth potential make CULP a promising investment option for risk-tolerant investors</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

CULP, an industry leader in the textile manufacturing sector, has experienced difficulties due to a housing sales slowdownStock price trading below tangible book value offers potential opportunity for investorsStrong balance sheet, history of adapting to challenges, and future growth potential make CULP a promising investment option for risk-tolerant investorsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>We are cutting estimates on Culp, responding to weak demand, and bracing for a restructuring in 4QFY24.</li><li>Culp’s 3QFY24 earnings report, issued Wednesday after the close, highlighted improved revenue and operating results, Y/Y and sequentially.</li><li>Consolidated sales were $60.4 million, up 15% Y/Y and 3% sequentially, aided by a calendar shift in the Chinese New Year from 3Q to 4Q.</li></ul>

We are cutting estimates on Culp, responding to weak demand, and bracing for a restructuring in 4QFY24.Culp’s 3QFY24 earnings report, issued Wednesday after the close, highlighted improved revenue and operating results, Y/Y and sequentially.Consolidated sales were $60.4 million, up 15% Y/Y and 3% sequentially, aided by a calendar shift in the Chinese New Year from 3Q to 4Q.

Culp, Inc. - Lower Near-Term Expectations; Culp Likely to Restructure

<ul><li>After the close on Wednesday, Culp reported a 3QFY24 operating loss of $1.7 million, which was better than our estimate of a loss of $2.2 million.</li><li>Consolidated sales were $60.4 million, roughly in line with our $60 million published estimate.</li><li>Culp continues to battle weak demand in both of its Culp Home Fashions (CHF, aka mattress fabrics) and Culp Upholstery Fabrics (CUF) segments.</li></ul>

After the close on Wednesday, Culp reported a 3QFY24 operating loss of $1.7 million, which was better than our estimate of a loss of $2.2 million.Consolidated sales were $60.4 million, roughly in line with our $60 million published estimate.Culp continues to battle weak demand in both of its Culp Home Fashions (CHF, aka mattress fabrics) and Culp Upholstery Fabrics (CUF) segments.

Culp, Inc. - 3QFY24 Operating Income Beats Lowered Estimates

<ul><li>Culp reports 3QFY24 results after the close on Wednesday, March 6. An investor conference call is scheduled for 11:00 am ET on Thursday, March 7.</li><li>Culp revised its guidance for the second half of 2023 in January in conjunction with the WTR Furniture/Furnishings Virtual Conference.</li><li>Recovery in the mattress segment had been slower than previously expected.</li></ul>

Culp reports 3QFY24 results after the close on Wednesday, March 6. An investor conference call is scheduled for 11:00 am ET on Thursday, March 7.Culp revised its guidance for the second half of 2023 in January in conjunction with the WTR Furniture/Furnishings Virtual Conference.Recovery in the mattress segment had been slower than previously expected.

Culp, Inc. - 3Q Results: Update on Culp Progress Out Wednesday After Close

<ul><li>Following Culp’s presentation at the WTR Furniture/Furnishings Virtual Conference, we are updating our 3Q estimates.</li><li>CEO Robert Culp IV warned that 3Q operating income will fall short of previous expectations. </li><li>The 3Q operating loss will approach $2.2 million, in line with the 2Q operating loss.</li></ul>

Following Culp’s presentation at the WTR Furniture/Furnishings Virtual Conference, we are updating our 3Q estimates.CEO Robert Culp IV warned that 3Q operating income will fall short of previous expectations. The 3Q operating loss will approach $2.2 million, in line with the 2Q operating loss.

Culp, Inc. - Updating 3Q Estimate Following WTR Conference Comment

United States

Culp, Inc. manufactures and markets upholstery fabrics and mattress tickings for use in furniture and bedding industries. The Company's fabrics are used in the production of residential and commercial furniture and bedding products, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, office seating, panel systems, and mattress sets.

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Culp Inc (CULP US)

Culp Inc (CULP) - Sunday, Feb 4, 2024

Strong balance sheet, history of adapting to challenges, and future growth potential make CULP a promising investment option for risk-tolerant...

Value Investors Club

Culp, Inc. - Lower Near-Term Expectations; Culp Likely to Restructure

Culp’s 3QFY24 earnings report, issued Wednesday after the close, highlighted improved revenue and operating results, Y/Y and sequentially.

Water Tower Research

Culp, Inc. - 3QFY24 Operating Income Beats Lowered Estimates

After the close on Wednesday, Culp reported a 3QFY24 operating loss of $1.7 million, which was better than our estimate of a loss of $2.2 million.

Water Tower Research

Culp, Inc. - 3Q Results: Update on Culp Progress Out Wednesday After Close

Culp reports 3QFY24 results after the close on Wednesday, March 6. An investor conference call is scheduled for 11:00 am ET on Thursday, March 7.

Water Tower Research

Culp, Inc. - Updating 3Q Estimate Following WTR Conference Comment

CEO Robert Culp IV warned that 3Q operating income will fall short of previous expectations. The 3Q operating loss will approach $2.2 million, in...

Water Tower Research

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