Culp, Inc. (NYSE:CULP) one of the worlds largest marketers of mattress fabrics for bedding, is reporting first quarter earnings results on Wednesday 2nd September 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.03 per share from $ 59.06 million in revenue.
For the full year, analysts predict revenues of $ 254.45 million, while looking forward to income of $ 0.32 per share.
Previous Quarter Performance
Culp, Inc. came out with loss for the fourth quarter of $ 0.44 per share, from the revenue of $ 47.38 million. The quarterly revenues decreased 33.23 percent compared with the same quarter last year. According to street consensus, CULP was expected to report 4Q20 loss of $ 0.16 per share from revenue of $ 58.35 million. The bottom line results missed street analysts by $ 0.28 or 175 percent, at the same time, top line results fell short of analysts by $ 10.97 million or 18.8 percent.
Stock Performance
Shares of Culp, Inc. traded up $ 0.38 or 3.17 percent on Tuesday, reaching $ 12.38 with volume of 27.30 thousand shares. The stock opened down for the day at $ 11.93, after closing the previous day trading at $ 12.00.
According to the previous trading day, closing price of $ 12.00, representing a 127.27 % increase from the 52 week low of $ 5.28 and a 31.39 % decrease over the 52 week high of $ 17.49.
The company has a market capital of $ 152.17 million and is part of the Consumer Cyclical sector and Textile Manufacturing industry.
Recent Stock Dividend Announcement
On July 1, 2020, the board of directors authorized quarterly dividend of $ 0.105 per share to holders of record as of the close of business on July 10, 2020, with payment date of July 17, 2020 and ex-dividend date on July 9, 2020.
Culp, Inc. manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates in Mattress Fabrics, Upholstery Fabrics, and Home Accessories segments.
