Culp GAAP EPS of -$0.39, revenue of $49.5M (NYSE:CULP)

Financial Outlook

• Due to the uncertainty in the macro-environment, as well as the significant activity underway in connection with the company’s restructuring initiatives, the company is only providing limited financial guidance at this time. While macro demand is expected to remain challenged in the first quarter of fiscal 2025, pressuring year-over-year sales results, the company does expect its consolidated net sales for the first quarter to be moderately higher as compared sequentially to the fourth quarter of fiscal 2024. The company will update progress on its restructuring initiatives every quarter, and post restructuring, the company expects to return to positive operating income (on a monthly basis) sometime in the second half of fiscal 2025.
• The company’s expectations are based on information available at the time of this press release and reflect certain assumptions by management regarding the company’s business and trends and the projected impact of the ongoing headwinds.