Interface (TILE) Reports Strong Financial Performance

By Bobby Samwell • Tuesday, February 25 10:36 • Permanent Link

Interface, Inc. has reported its fourth-quarter and full-year 2024 results, showcasing a strong performance in both periods. In the fourth quarter, the company saw net sales of $335 million, reflecting a 3.0% increase year-over-year. Additionally, the company reported GAAP earnings per diluted share of $0.37 and adjusted earnings per diluted share of $0.34 for the same period.

For the full fiscal year 2024, Interface reported net sales of $1,316 million, marking a 4.3% increase compared to the previous year. The company's GAAP earnings per diluted share for the full year were $1.48, while adjusted earnings per diluted share stood at $1.46.

One notable highlight is the company's strong cash generation, with $148 million generated from operations and $115 million of debt repaid during the fiscal year. This disciplined capital management resulted in a significant reduction in net leverage to 1.1 times fiscal year 2024 adjusted EBITDA.

The company's consolidated results for the fourth quarter and full year also reveal an increase in gross profit margin, a decrease in SG&A expenses as a percentage of net sales, and significant growth in net income and earnings per diluted share.

Interface's segment results show growth in the Americas (AMS) and a decrease in net sales for the Europe, Africa, and Asia (EAA) segment. However, the company has reported positive currency-neutral net sales growth for both segments, reflecting a strong performance in the Americas and a slight decrease in net sales for the EAA segment.

Looking ahead to 2025, Interface has provided its outlook for the first quarter and the full fiscal year, including expected net sales, adjusted gross profit margin, SG&A expenses, and other financial metrics.

The company's strong performance and strategic initiatives have positioned it for continued growth and value creation in the years ahead, as stated by Laurel Hurd, CEO of Interface. The progress in advancing strategic initiatives and the focus on sustainable innovation are highlighted as key drivers of the company's success.

Overall, Interface's financial results demonstrate a positive trajectory, with increased net sales, improved profitability, and a focused approach to driving growth and shareholder value.

As a result of these announcements, the company's shares have moved -14.2% on the market, and are now trading at a price of $18.28. For more information, read the company's full 8-K submission here.

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