Interface Inc - TILE STOCK NEWS

Interface (TILE) reported strong Q3 2024 results with net sales of $344.3 million, up 10.7% year-over-year. The company achieved a gross profit margin of 37.1%, increasing 162 basis points from the previous year. GAAP earnings per share reached $0.48, while currency-neutral orders grew 10%. Education billings increased 18%, and Corporate Office global billings rose 2%. The company generated $76.2 million in operating cash flow and repaid $51.3 million of debt in Q3. Interface raised its full-year outlook, projecting net sales between $1.315-1.325 billion with an adjusted gross profit margin of approximately 36.6%.

Interface, Inc. (NASDAQ: TILE), a global flooring solutions company, has been honored with the top distinction in the Net Zero: Leadership category at the Reuters 2024 Sustainability Awards. The company was recognized for its commitment to becoming carbon negative without offsets by 2040, focusing on direct carbon reduction and storage.

Interface's strategy involves investing in innovation and R&D projects to avoid, reduce, and store more carbon across its entire enterprise. This approach aligns with the goals of the Paris Agreement to maintain a safe global temperature. The award acknowledges Interface's proactive steps towards decarbonization and its 30-year journey to become a restorative business.

The Reuters Events Sustainable Business received over 700 submissions worldwide for its 2024 Sustainability Awards. Interface was the only flooring company to win across all categories, standing out among notable corporations like Amazon and Holcim

Interface, Inc. (NASDAQ: TILE), a global flooring solutions company, has announced the inclusion of project-specific embodied carbon metrics on all floor plans created by the Interface Design Studio (IDS). This initiative makes Interface the first flooring manufacturer to provide embodied carbon metrics as standard on its floor plans, helping customers understand the carbon impact of their product selections.

The floor plans now feature a dynamic bar graph showcasing the total embodied carbon value for all Interface products used in a project, including carpet tile, LVT, and nora® rubber. Additionally, an industry average embodied carbon value is provided for comparison, clearly demonstrating potential carbon footprint savings.

Interface sources the flooring-specific embodied carbon data using the Embodied Carbon in Construction Calculator (EC3), a tool developed by nonprofit Building Transparency. This move aligns with Interface's commitment to solving the climate crisis and focusing on direct carbon reductions rather than offsets.

Interface, Inc. (Nasdaq: TILE) has announced its plans to release third quarter 2024 results on Friday, November 1, 2024, before the market opens. The company will host a conference call at 8:00 a.m. Eastern Time on the same day, which will be simultaneously broadcast live over the internet.

The call will be hosted by Laurel M. Hurd, Chief Executive Officer, and Bruce A. Hausmann, Chief Financial Officer. Investors can access the live conference call through the company's website or a dedicated event link. An archived version of the call will be available for one year after the event.

Interface (NASDAQ: TILE) has expanded its recycling capabilities at its Scherpenzeel, Netherlands facility to advance circularity efforts. The plant now recycles post-consumer carpet tiles that can't be reused, immediately returning them to the production cycle for new carpet tiles in the European market. This initiative supports Interface's commitment to reducing carbon emissions and aligns with Paris Agreement goals.

Key points:

• 51% of materials used in Interface products are from recycled or bio-based sources
• Since 2016, Interface has collected over 31,750 tonnes of post-consumer carpet tile through its ReEntry program
• The expanded facility will facilitate the use of recycled content in new products, including the carbon-negative CQuest backing
• This investment supports Interface's climate goals and helps customers reduce their carbon footprint

Interface, Inc. (NASDAQ: TILE) has launched two new carpet tile styles, Knitstitch™ and Breakout™, designed for large-scale commercial spaces. These styles offer timeless patterns and textures at a smart price point, achieved through innovations in design and manufacturing. Knitstitch features a large-scale woven look with pops of color, while Breakout combines modern ombré detailing with a grid pattern.

Both styles are available in North America and are designed to enhance productivity, acoustics, and indoor air quality in commercial spaces. They complement Interface's existing product portfolio, including LVT, nora® rubber flooring, and FLOR® area rugs. Interface's commitment to sustainability is reflected in these products, which have among the lowest carbon footprint carpet tiles in the industry.

Interface, Inc. (NASDAQ: TILE), a global flooring solutions company, has been recognized as a top sustainability leader in the Sustainability Leaders 2024 Survey by GlobeScan and the ERM Sustainability Institute. Ranked fifth among companies addressing the climate crisis, Interface is the only company to maintain a spot in the ranking since 1997.

The survey, which included 484 sustainability experts from 65 countries, highlights Interface's commitment to sustainability and its goal to become carbon negative by 2040. CEO Laurel Hurd emphasized the company's focus on direct carbon reduction and carbon storage. Interface has already surpassed the halfway point for each of its 2030 science-based targets, validated by the Science Based Targets initiative (SBTi).

In April 2024, Interface committed to investing in direct carbon reduction and storage rather than offsets, aiming to inspire others and accelerate collective action in addressing the climate crisis.

Interface (Nasdaq: TILE), a global flooring solutions company and sustainability leader, has announced a regular quarterly cash dividend of $0.01 per share. The dividend is payable on September 13, 2024 to shareholders of record as of August 30, 2024. This announcement demonstrates Interface's commitment to providing consistent returns to its shareholders, albeit at a modest level. The dividend declaration suggests the company's financial stability and confidence in its ability to generate cash flow, even if the amount per share is relatively small.

Interface, Inc. (Nasdaq: TILE) reported strong Q2 2024 results, with net sales up 5.2% to $346.6 million and gross profit margin increasing to 35.4%. The company's GAAP earnings per share reached $0.38, while adjusted EPS was $0.40. Currency neutral orders grew by 8% year-over-year. Interface's One Interface strategy drove growth and profitability expansion, particularly in the Americas where net sales increased 7% and orders were up 15%. The company gained market share in Corporate Office and saw strong growth in the Education segment. Based on these results, Interface has raised its full-year guidance, expecting net sales between $1.30 billion to $1.32 billion for fiscal year 2024.