<span item_type="fundamental" item_id="916df542c3bd3f1b21e8310ee8956d31" counter_id="ST/US/CULP" env="prod"></span><span item_type="announcement" item_id="592876284414462465" env="prod"></span><p>Revenue: As of FY2026 Q2, the actual value is USD 53.2 M, beating the estimate of USD 53.11 M.</p><p>EPS: As of FY2026 Q2, the actual value is USD -0.34, missing the estimate of USD -0.09.</p><p>EBIT: As of FY2026 Q2, the actual value is USD -3.505 M.</p><p></p><h3>Bedding Segment</h3><h4>Net Sales</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $30,763 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $30,074 thousand</li><li><strong>Change</strong>: 2.3%</li><li><strong>Six Months Ended November 2, 2025</strong>: $58,809 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $58,150 thousand</li><li><strong>Change</strong>: 1.1%</li></ul><h4>Gross Profit</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $3,102 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $2,444 thousand</li><li><strong>Change</strong>: 26.9%</li><li><strong>Six Months Ended November 2, 2025</strong>: $6,044 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $2,118 thousand</li><li><strong>Change</strong>: 185.4%</li></ul><h4>Gross Profit Margin</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: 10.1%</li><li><strong>Three Months Ended October 27, 2024</strong>: 8.1%</li><li><strong>Change</strong>: 200bp</li><li><strong>Six Months Ended November 2, 2025</strong>: 10.3%</li><li><strong>Six Months Ended October 27, 2024</strong>: 3.6%</li><li><strong>Change</strong>: 670bp</li></ul><h4>Segment Assets</h4><ul><li><strong>Accounts Receivable</strong>: $11,199 thousand (November 2, 2025), $10,352 thousand (October 27, 2024), $10,576 thousand (April 27, 2025)</li><li><strong>Inventory</strong>: $34,539 thousand (November 2, 2025), $29,253 thousand (October 27, 2024), $33,293 thousand (April 27, 2025)</li><li><strong>Property, Plant &amp; Equipment</strong>: $21,088 thousand (November 2, 2025), $24,702 thousand (October 27, 2024), $23,259 thousand (April 27, 2025)</li><li><strong>Right of Use Assets</strong>: $0 (November 2, 2025), $275 thousand (October 27, 2024), $125 thousand (April 27, 2025)</li><li><strong>Assets Held for Sale</strong>: $124 thousand (November 2, 2025), $3,301 thousand (October 27, 2024), $2,177 thousand (April 27, 2025)</li></ul><h3>Upholstery Segment</h3><h4>Net Sales</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $22,439 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $25,600 thousand</li><li><strong>Change</strong>: -12.3%</li><li><strong>Six Months Ended November 2, 2025</strong>: $45,084 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $54,061 thousand</li><li><strong>Change</strong>: -16.6%</li></ul><h4>Gross Profit</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $3,611 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $4,315 thousand</li><li><strong>Change</strong>: -16.3%</li><li><strong>Six Months Ended November 2, 2025</strong>: $7,897 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $9,833 thousand</li><li><strong>Change</strong>: -19.7%</li></ul><h4>Gross Profit Margin</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: 16.1%</li><li><strong>Three Months Ended October 27, 2024</strong>: 16.9%</li><li><strong>Change</strong>: -80bp</li><li><strong>Six Months Ended November 2, 2025</strong>: 17.5%</li><li><strong>Six Months Ended October 27, 2024</strong>: 18.2%</li><li><strong>Change</strong>: -70bp</li></ul><h4>Segment Assets</h4><ul><li><strong>Accounts Receivable</strong>: $9,443 thousand (November 2, 2025), $11,978 thousand (October 27, 2024), $11,268 thousand (April 27, 2025)</li><li><strong>Inventory</strong>: $15,402 thousand (November 2, 2025), $15,879 thousand (October 27, 2024), $16,016 thousand (April 27, 2025)</li><li><strong>Property, Plant &amp; Equipment</strong>: $785 thousand (November 2, 2025), $1,188 thousand (October 27, 2024), $1,010 thousand (April 27, 2025)</li><li><strong>Right of Use Assets</strong>: $1,224 thousand (November 2, 2025), $1,120 thousand (October 27, 2024), $2,678 thousand (April 27, 2025)</li></ul><h3>Consolidated Other Income Statement Categories</h3><h4>SG&amp;A Expenses</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $8,738 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $9,359 thousand</li><li><strong>Change</strong>: -6.6%</li><li><strong>Six Months Ended November 2, 2025</strong>: $17,858 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $18,655 thousand</li><li><strong>Change</strong>: -4.3%</li></ul><h4>Restructuring Expense</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $499 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $2,031 thousand</li><li><strong>Change</strong>: -75.4%</li><li><strong>Six Months Ended November 2, 2025</strong>: $3,010 thousand (credit)</li><li><strong>Six Months Ended October 27, 2024</strong>: $4,662 thousand (expense)</li><li><strong>Change</strong>: N.M.</li></ul><h4>Interest Expense</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $199 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $30 thousand</li><li><strong>Change</strong>: 563.3%</li><li><strong>Six Months Ended November 2, 2025</strong>: $381 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $58 thousand</li><li><strong>Change</strong>: 556.9%</li></ul><h4>Interest Income</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $249 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $244 thousand</li><li><strong>Change</strong>: 2.0%</li><li><strong>Six Months Ended November 2, 2025</strong>: $483 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $507 thousand</li><li><strong>Change</strong>: -4.7%</li></ul><h4>Other Expense</h4><ul><li><strong>Three Months Ended November 2, 2025</strong>: $694 thousand</li><li><strong>Three Months Ended October 27, 2024</strong>: $508 thousand</li><li><strong>Change</strong>: 36.6%</li><li><strong>Six Months Ended November 2, 2025</strong>: $1,225 thousand</li><li><strong>Six Months Ended October 27, 2024</strong>: $913 thousand</li><li><strong>Change</strong>: 34.2%</li></ul><h3>Future Outlook and Strategy</h3><h4>Core Business Focus</h4><ul><li>The company expects the initiatives associated with the strategic transformation announced on April 24, 2025, to be substantially completed by the end of the third quarter of fiscal 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/723603/000119312525317167/culp-20251102.htm"></span></li></ul><h4>Non-Core Business</h4><ul><li>The company is closing its leased facilities operated by the upholstery segment located in Burlington, North Carolina, and Knoxville, Tennessee, and transitioning their production and distribution activities to a shared management model within its owned facility located in Stokesdale, North Carolina.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/723603/000119312525317167/culp-20251102.htm"></span></li></ul><h4>Priority</h4><ul><li>The company expects the initiatives associated with the strategic transformation to be substantially completed by the end of the third quarter of fiscal 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/723603/000119312525317167/culp-20251102.htm"></span></li></ul>

Culp | 10-Q: FY2026 Q2 Revenue Beats Estimate at USD 53.2 M