Culp, Inc. Files 8-K for Financial Reporting

Ticker: CULP · Form: 8-K · Filed: Jun 27, 2024 · CIK: 723603

Sentiment: neutral

Topics: financial-reporting, 8-K

TL;DR

Culp Inc. filed its 8-K, check the financials.

AI Summary

On June 27, 2024, Culp, Inc. filed an 8-K report detailing its financial condition and results of operations. The filing includes financial statements and exhibits, but does not appear to announce any specific new material events or transactions as of that date. The report is filed in accordance with SEC regulations.

Why It Matters

This filing provides investors and the public with updated financial information and operational details for Culp, Inc., allowing for informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine financial filing and does not appear to contain any new material information that would inherently increase risk.

Key Players & Entities

FAQ

What is the primary purpose of this 8-K filing for Culp, Inc.?

The primary purpose of this 8-K filing is to report on Culp, Inc.'s results of operations and financial condition, as well as to provide Regulation FD disclosures and financial statements and exhibits.

When was this 8-K report filed by Culp, Inc.?

This 8-K report was filed on June 27, 2024.

What is Culp, Inc.'s principal executive office address?

Culp, Inc.'s principal executive office is located at 1823 Eastchester Drive, High Point, North Carolina 27265.

What is Culp, Inc.'s telephone number?

Culp, Inc.'s telephone number, including area code, is 336 889-5161.

Under which section of the Securities Exchange Act is this 8-K filed?

This 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Filing Stats: 2,920 words · 12 min read · ~10 pages · Grade level 14.6 · Accepted 2024-06-27 16:17:39

Key Financial Figures

Filing Documents

02 – Results of Operations and Financial Condition

Item 2.02 – Results of Operations and Financial Condition On June 27, 2024, we issued a news release to announce our financial results for our fourth quarter and fiscal year ended April 28, 2024. A copy of the news release is attached hereto as Exhibit 99.1. The information set forth in this Item 2.02 of this Current Report, and in Exhibit 99.1, is intended to be "furnished" under Item 2.02 of Form 8-K. Such information shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. The news release contains adjusted income statement information for the three and twelve-month periods ending April 28, 2024, and April 30, 2023, respectively, which disclose adjusted loss from operations, a non-U.S. GAAP performance measure that eliminates items which are not expected to occur on a recurring or regular basis. For the three and twelve-month periods ending April 28, 2024, these items include, as applicable for the period presented, restructuring expense associated with the rationalization of the upholstery fabrics finishing operation located in Shanghai, China, and the discontinued production of cut and sewn upholstery kits in Ouanaminthe, Haiti. For the three and twelve-month periods ending April 30, 2023, these items include, as applicable for the period presented, restructuring expense related to restructuring activities for the company's cut and sew upholstery fabric operation located in Shanghai, China, during the second quarter of fiscal 2023, and for the company's cut and sew upholstery fabric operation located in Ouanaminthe, Haiti, during the third and fourth quarters of fiscal 2023. The company has included this adjusted information in order to show operational performance excluding the effects of items not expected to occur on

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On June 27, 2024, we posted a restructuring presentation to our website at https://culpinc.gcs-web.com/ (the "Restructuring Presentation"). A copy of the Restructuring Presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated into this Item 7.01 by reference. We expect to use the Restructuring Presentation from time to time, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts, and others. The information contained in the Restructuring Presentation is summary information that should be considered within the context of the company's filings with the Securities and Exchange Commission ("SEC") and other public announcements the company may make by press release or otherwise from time to time. The Restructuring Presentation speaks only as of the date of this Current Report on Form 8-K. We undertake no duty or obligation to publicly update or revise the information contained in the Restructuring Presentation, including, without limitation, any targets, estimates, goals, or other forward-looking statements, although we may do so from time to time. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases, or through other public disclosure. The Restructuring Presentation contains statements intended as "forward-looking statements" that are subject to the cautionary statements about forward-looking statements set forth on page 2 of the Restructuring Presentation. By furnishing the information contained in this Current Report on Form 8-K, including Exhibit 99.2, we make no admission as to the materiality of any such information. The information in this Current Report on Form 8-K, including Exhibit 99.2, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the l

01 (d) – Exhibits

Item 9.01 (d) – Exhibits 6 EXHIBIT INDEX Exhibit Number Exhibit 99.1 News Release dated June 27, 2024 99.2 Restructuring Presentation 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 7

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. CULP, INC. (Registrant) By: /s/ Kenneth R. Bowling Chief Financial Officer (principal financial officer and principal accounting officer) Dated June 27, 2024 8

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