Shares of Interface Inc. (NASDAQ:TILE) surged over 14% in pre-market trading on Thursday, after the modular carpet manufacturer reported better-than-expected third-quarter 2024 financial results and raised its full-year revenue outlook.
For the quarter ended September 29, Interface posted adjusted earnings of $0.48 per share, significantly beating analysts' consensus estimate of $0.34 per share. The company's net sales rose 10.7% year-over-year to $344.27 million, also surpassing the $336.42 million expectation.
Following this strong performance, Interface raised its fiscal 2024 net sales forecast to a range of $1.315 billion to $1.325 billion, compared to its previous guidance of $1.30 billion to $1.32 billion. This upwardly revised outlook exceeded analysts' average projection of $1.31 billion for the full year.
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