Culp Q1 FY2026 net loss narrows to $0.02/sh; bedding gross margin improves to 10.5%

CULP INC

2026-Q1 EPS reported -$0.02 revenue$50,691,000

Consolidated sales $50.7M (-10% YoY); gross margin 14.3% vs 9.0% prior year.
GAAP operating income $1.6M vs loss $(6.9)M; net loss $(231K) ($(0.02)/diluted) vs $(7.3M) ($(0.58)).
Bedding segment sales flat at $28.0M; gross profit turned positive to $2.9M (10.5%) vs negative prior year.
Upholstery sales $22.6M (-20% YoY) due to tariff-driven shipment pause; gross margin 18.9% vs 19.4%.
Guidance: sequential sales growth expected; Q2 adjusted EBITDA near breakeven to slightly positive.

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