Interface Inc. reports recurring developments in global flooring, sustainability, and capital allocation. The company offers an integrated portfolio that includes Interface® carpet tile and LVT, nora® rubber flooring, and FLOR® premium area rugs for commercial and residential spaces. News commonly covers quarterly results, currency-neutral sales, adjusted earnings measures, regional and market-segment demand, and execution of the One Interface strategy.
Company updates also include product expansion across resilient flooring, such as nora rubber platforms and PVC-free designs, along with regular dividend actions, debt repayment activity, share repurchases, and sustainability goals tied to carbon reduction and long-term climate targets.
Interface, a leader in sustainable flooring, introduces two new collections: Beaumont Range and Fresco Valley, inspired by nature to enhance biophilic design. Displayed at NeoCon 2022 in Chicago, the Beaumont Range features unique carpet tile designs that mimic natural patterns, while Fresco Valley offers luxury vinyl tiles with nature-inspired visuals. Both collections emphasize sustainability, with Beaumont tiles made from 100% recycled nylon and Fresco Valley containing 39% recycled content. Interface aims to reduce carbon footprints while creating inspiring interior spaces.
Interface, Inc. (Nasdaq: TILE) announced a $100 million share repurchase program, reinforcing its commitment to returning capital to shareholders. The plan allows for flexible purchases based on market conditions. Additionally, the Board declared a $0.01 quarterly cash dividend, payable on June 17, 2022. CEO Laurel Hurd expressed confidence in the company’s financial strength, emphasizing ongoing capital allocation for shareholder returns while maintaining a focus on long-term growth. These initiatives support Interface's strategy of balancing investment in the business with shareholder value enhancement.
Interface, Inc. (Nasdaq: TILE) reported Q1 2022 net sales of $288 million, a 14% increase from the previous year. GAAP operating income surged 62% to $27.4 million, with earnings per share rising 83% to $0.22. Orders increased by 15%, marking four consecutive quarters of double-digit growth. Despite challenges like supply chain disruptions and inflation, the company achieved a gross profit margin of 37.1%. Looking ahead, sales are projected between $350-$360 million for Q2 2022, with full-year growth expected around 10%-12%. New CEO Laurel Hurd began her role on April 18, 2022.
Interface, Inc. (Nasdaq: TILE) will announce its first quarter 2022 results on May 6, 2022, before the market opens. A conference call will take place on the same day at 8:00 a.m. ET, led by Chairman Daniel T. Hendrix and CFO Bruce A. Hausmann, with new CEO Laurel M. Hurd joining. The call will be available live via the company's website. Interface is a global flooring company focused on sustainability, offering carbon neutral carpet tile and resilient flooring products.
FLOR®, a premium area rug brand, has launched its first-ever carbon negative area rugs as part of its Spring Collection. This innovative range includes three styles—Peninsula, Stratosphere, and Hemisphere—designed to store more carbon than they release, achieving a negative carbon footprint. This initiative aligns with FLOR's commitment to sustainability through responsibly sourced materials and renewable energy manufacturing. The rugs will be labeled for easy identification by eco-conscious consumers, marking a significant milestone in FLOR's sustainability journey.
Interface, Inc. (Nasdaq: TILE) announced a quarterly cash dividend of $0.01 per share, payable on April 15, 2022, to shareholders of record as of April 1, 2022. This dividend underlines the company's ongoing commitment to returning value to shareholders while emphasizing its leadership in sustainability within the flooring industry. As a global leader in carbon-neutral flooring solutions, Interface continues to promote environmentally friendly practices alongside financial responsibility.
Interface, Inc. (Nasdaq: TILE) announced the appointment of Laurel M. Hurd as President and CEO, effective April 18, 2022. Hurd, who has extensive experience in sales management and brand stewardship, previously served as Segment President at Newell Brands, overseeing over $3 billion in revenue. She aims to accelerate Interface's growth and uphold its sustainability commitments, including becoming carbon negative by 2040. Hurd succeeds Daniel T. Hendrix, who remains Chairman after 39 years with the company.
Interface, Inc. (Nasdaq: TILE) reported robust financial results for Q4 and FY 2021, with net sales rising 23% to $340 million in Q4 and 9% to $1.2 billion for the year. GAAP earnings per share reached $0.37 for Q4 and $0.94 for FY 2021. The company successfully reduced SG&A expenses as a percentage of net sales and decreased net debt by $56 million, achieving a leverage ratio of 2.5x net debt-to-adjusted EBITDA. The strong demand for carbon-neutral products is expected to maintain momentum into 2022, with anticipated sales growth of 7% to 9%.
On February 7, 2022, Interface announced the launch of its new Even Path™ collection, entering the rigid core flooring market. This collection features durable, high-quality wood and stone designs engineered for commercial spaces. It includes a multi-layered tile structure that withstands heavy loads and scratches, with a glue-free installation system. The products are made with 39% recycled content and are carbon neutral throughout their lifecycle. Interface aims to further reduce the carbon footprint of its products as part of its Climate Take Back™ initiative, targeting carbon negativity by 2040.
Interface, Inc. (Nasdaq: TILE) will release its fourth quarter and fiscal year 2021 results on March 1, 2022, before market opening. A conference call will take place at 8:00 a.m. ET on the same day, featuring CEO Daniel T. Hendrix and CFO Bruce A. Hausmann. The call will be available live online, with details accessible on the Interface investor relations website. The company specializes in carbon-neutral flooring solutions, committed to sustainability through its mission, Climate Take Back.