Culp, Inc. provided earnings guidance for the first quarter of 2023. Due to the continued volatility in the macro environment, the company is providing only limited sequential financial guidance for fiscal 2023 at this time. The company's net sales for the first quarter of fiscal 2023 are expected to be comparable to the fourth quarter of fiscal 2022.

While the company still expects a material consolidated operating loss (loss from operations) for the first quarter of fiscal 2023, it expects a moderate improvement as compared to the loss incurred during the fourth quarter of fiscal 2022.