Culp sees Q4 consolidated operating income ($4.7M)-($4.2M)

In addition, the company is updating its previously stated financial outlook for the fourth quarter of fiscal 2024. Due to further weakness in industry demand, the company’s consolidated net sales for the fourth quarter are now expected to be approximately 19.0 percent lower as compared to the fourth quarter of fiscal 2023. The company also now expects a consolidated operating loss (loss from operations) for the fourth quarter of fiscal 2024 in the range of $(4.2) million to $(4.7) million. Additionally, the company expects to end the fiscal year with approximately $10.0 million in cash and cash equivalents and no outstanding borrowings. The financial results for the fourth quarter and full fiscal 2024 year will be released on or about June 26, 2024.