Culp Inc (CULP) shares rise 12.25% intraday after Q1 FY2027 earnings beat

Culp Inc (CULP) shares rose 12.25% in intraday trading after the company reported Q1 FY2027 net income of $6.0 million ($0.47 EPS), beating the Zacks Consensus Estimate of $0.44. Consolidated net sales increased 6.5% year-over-year to $54.0 million, and gross profit surged to $15.4 million, aided by $6.9 million in IEEPA tariff refunds. The company also significantly improved its balance sheet, reducing net debt by over 70% to $3.1 million.