Culp: Investor Information – December 2021

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CULP, INC.

Investor Information

December 1, 2021

FORWARD-LOOKING STATEMENTS

This presentation contains “forward-looking statements” within the meaning of federal securities laws, including the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934). These statements are inherently subject to risks and uncertainties which may cause actual events and results to differ materially from such statements. In addition, forward-looking statements are made only as of the date on which they are made, and we disclaim any obligation to update such statements to reflect any change in management’s expectations or any change in assumptions or circumstances. on which these statements are based. whether due to new information, future events or otherwise. Forward-looking statements are statements that include projections, expectations or beliefs regarding future events or results or are not statements of historical fact. Such statements are often, but not always, characterized by qualifying words such as “expect”, “believe”, “anticipate”, “estimate”, “intend”, “plan”, “plan” and derivatives thereof, and include but are not limited to statements about expectations of our future operations, production levels, new product launches, sales, profit margins, profitability, operating profit, operating expenses. capital, working capital levels, income taxes, selling and administrative costs or other expenses, pre-tax income, profits, cash and other measures of performance or liquidity, as well as any statement regarding potential acquisitions, future economic or industrial trends, public health epidemics or future developments. There can be no assurance that we will achieve these expectations or that we will respond to our advice, or that these beliefs will prove to be correct.

Factors that could influence the issues addressed in these statements include the level of housing starts and existing home sales, consumer confidence, disposable income trends and general economic conditions. A decline in these economic indicators could have a negative effect on our business and our outlook. Likewise, increases in interest rates, especially residential mortgage rates, and increases in consumer debt or the general inflation rate, could hurt us. The future performance of our business depends in part on our success in conducting and finalizing acquisition negotiations and integrating acquired businesses into our existing operations. Changes in consumer tastes or preferences for products that we do not manufacture could erode demand for our products. Changes in tariffs or trade policy, or changes in the value of the US dollar against other currencies, could affect our financial results because a significant portion of our business is located outside of the United States. The strengthening of the US dollar against other currencies could make our products less competitive based on prices in markets outside the United States, and the strengthening of currencies in Canada and China may have a negative impact. on our sales of products made in these countries. In addition, economic or political instability in international areas could affect our operations or our sources of goods in those areas, as well as the demand for our products in international markets. The impact of public health epidemics on employees, customers, suppliers and the global economy, such as the global coronavirus pandemic that is currently affecting countries around the world, could also negatively affect our operations and financial performance. In addition, the impact of any impairment of goodwill or intangible assets could affect our financial results. Increases in transportation costs, labor costs, and raw material prices, including increases in market prices for petrochemicals, can also significantly affect the prices we pay for shipping, labor and raw materials, respectively, and in turn, increase our operating costs and decrease our profitability. Finally, the disruption of our customers’ supply chains for non-textile components may result in a drop in new orders and / or delay the shipment of existing orders while our customers wait for other components, which could negatively affect our financial results. Further information on these factors, as well as other factors that could affect our operations or future financial results and matters addressed in forward-looking statements, is included in Section 1A “Risk Factors” of our recent forms. 10-K and 10- Q reports filed with the Securities and Exchange Commission. A forward-looking statement is not a prediction or guarantee of future events or circumstances, and such future events or circumstances may not occur.

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CULP AT A GLANCE

  • Manufactures, sources and markets mattress fabrics and upholstery fabrics for the furniture and bedding industries in North America and abroad.
  • Global manufacturing and supply operations in the United States, Canada, China, Haiti, Vietnam and Turkey.
  • Major customers include: Ashley Furniture, Casper, Corsicana, Flexsteel, Fusion Furniture, Kuka Home, La-Z-Boy, Resident Home, Serta Simmons Bedding, Tempur + Sealy and others.
  • Business model transformed.
  • Founded in 1972.
  • Experimented, long-term management team.
  • Culp business sectors
    • Mattress fabrics– Jacquard woven, knitted, including mattress covers, and processed fabrics for use in the manufacture of bedding products
    • 53% of sales during fiscal year 2021
    • Furnishing– For use in the production of residential and commercial upholstered furniture
    • 47% of sales during fiscal year 2021

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CULP KEY FACTS

Highlights

  • NYSE: CULP
  • Indicated annual dividend: $ 0.46
  • Dividend yield: 4.34%(1)
  • 52 weeksRange: $ 10.11 – $ 17.88 (2)
  • Shares outstanding: 12,709,810(3)
  • Revenue for fiscal year 2021: $ 300 million
  • Experimented, Long-term management team

The capital structure

  • Solid balance sheet
  • Total cash and investments: $ 36.6 million (3)
  • No unpaid debt (3)
  • Equity: $ 128.5 million (3)

Other

  • Full timeEmployees worldwide: 1,540 (3)
  • End of fiscal year: Sunday closest to April 30
  • Accounting firm: Grant Thornton
  • Website: www.culp.com
  • Headquarters: High Point, North Carolina

NYSE: CULP – Share price

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NYSE: CULP – Share price

  1. Based on an stated annual dividend of $ 0.46 per share and a closing price of $ 10.61 on November 30, 2021.
  2. As of November 30, 2021
  3. As of October 31, 2021

LEADER IN INNOVATION, FOCUSED ON HIGH PERFORMANCE

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Disclaimer

Culp inc. published this content on 01 December 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 01 December 2021 21:30:35 UTC.

Public now 2021

All news on CULP, INC.

Analyst Recommendations on CULP, INC.
Sales 2022 323 million

Net income 2022 8.35 million

Net debt 2022

PER 2022 ratio 16.2x
Yield 2022 4.11%
Capitalization 129 million
129 million
Capi. / Sales 2022 0.40x
Capi. / Sales 2023 0.38x
Number of employees 1,430
Free float 90.2%

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Culp, Inc. Technical Analysis Chart |  MarketScreener

Trends in Technical Analysis CULP, INC.

Short term Mid Road Long term
Tendencies Bearish Bearish Bearish

Evolution of the income statement

To sell

To buy

Average consensus TO BUY
Number of analysts 0
Last closing price

$ 10.94

Average price target

$ 22.00

Spread / Average target 101%


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