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.
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.
Interface, Inc. (Nasdaq: TILE), a leader in sustainable commercial flooring, announced that CFO Bruce Hausmann will participate in a fireside chat at the Credit Suisse 9th Annual Global Industrials Conference on December 1, 2021, at 1:30 p.m. ET. The event will be available via webcast on the company’s investor relations website, with a replay accessible post-presentation. Interface specializes in eco-friendly flooring solutions, aiming to operate in a restorative manner to the planet through its mission, Climate Take Back™.
On November 16, 2021, Interface announced a quarterly cash dividend of $0.01 per share, payable on December 17, 2021, to shareholders of record as of December 3, 2021. This highlights the company's commitment to returning value to its investors amidst its ongoing mission for sustainability.
Interface is a leader in carbon neutral flooring solutions and promotes a vision of environmental restoration through its Climate Take Back™ initiative.
Interface, Inc. (Nasdaq: TILE) reported a robust third quarter for 2021, with net sales reaching $313 million, a 12% increase year-over-year. The company saw a significant 24% rise in orders and generated $29 million in cash from operations while repaying $30 million in debt. Adjusted earnings per share stood at $0.29, up from $0.28 in Q3 2020. The gross profit margin decreased to 34% amidst ongoing supply chain challenges. The company anticipates Q4 net sales between $320 million and $330 million.
Interface, Inc. (Nasdaq: TILE) plans to release its third quarter 2021 financial results on November 5, 2021, before market opening. A conference call will be held that morning at 8:00 a.m. Eastern Time, featuring CEO Daniel T. Hendrix and CFO Bruce A. Hausmann. Listeners can access the call via the company's website or directly through a provided link. The company specializes in carbon-neutral flooring solutions and aims to promote sustainability with its Climate Take Back™ mission.
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