Welcome to our dedicated page for Interface news (Ticker: TILE), a resource for investors and traders seeking the latest updates and insights on Interface stock.
Interface Inc (TILE) is a leading electrical and electronic manufacturing company headquartered in Bay Shore, New York. Specializing in the design, production, and sale of carpet tiles, Interface Inc has expanded its product portfolio to include Luxury Vinyl Tiles (LVT) and rubber flooring. The company's primary markets are corporate and noncorporate office spaces, encompassing sectors like government, education, healthcare, hospitality, and retail.
With its operations segmented geographically into the Americas, Europe, and Asia-Pacific, Interface Inc is strategically positioned to serve a diverse and global clientele. The company's two primary operating and reportable units are AMS (Americas) and EAAA (Europe, Asia, Australia, Africa), ensuring a broad market reach and robust supply chains.
Recently, Interface Inc has made significant strides in both its product innovation and sustainability initiatives, earning accolades for its environmentally friendly manufacturing processes and sustainable product lines. Financially, Interface Inc continues to display strong performance, driven by strategic partnerships and a growing customer base.
Stay updated with the latest news and developments from Interface Inc to understand how this dynamic company continues to shape the future of flooring solutions.
Interface, Inc. (TILE) announced strong Q2 2022 results with net sales of $347 million, up 17.6% year-over-year. Excluding currency impacts, sales rose 22.8%. GAAP operating income increased by 18.1%, leading to a GAAP earnings per share of $0.28, up 7.7%. SG&A expenses decreased to 23.5% of sales. However, gross profit margins fell due to rising freight and raw material costs. The company reported a robust order backlog, although currency fluctuations and geopolitical issues present ongoing risks. Q3 2022 guidance forecasts net sales of $325 million to $345 million.
Interface, Inc. (Nasdaq: TILE) is set to release its second quarter 2022 results on August 5, 2022, before market opening. A conference call will take place on the same day at 8:00 a.m. ET, hosted by CEO Laurel M. Hurd and CFO Bruce A. Hausmann. Listeners can access the live broadcast online or via the company's investor relations website. The call will delve into critical financial data and company performance.
Interface launched its new website on June 16, 2022, to enhance the digital experience for customers in the commercial flooring sector. This redesign focuses on user-friendly tools for flooring specification and design, aligning with evolving customer engagement trends. The upgraded site features easier navigation, improved design tools, and showcases the company's commitment to sustainability. The website is currently live in the U.S. and planned for a global launch later in 2022.
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.
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