Interface Shares Hit 52-Week High After 3Q Earnings Beat, Higher Sales Guidance

Dow Jones

2024-11-01

By Chris Wack

Interface shares hit their 52-week high after the company reported third-quarter earnings and sales that beat analysts' expectations, and raised its 2024 sales forecast.

Shares of the commercial flooring company were up 31% at $22.88, after trading as high as $23.19 earlier in the session.

The Atlanta company said it had quarterly earnings of $28.4 million, or 48 cents a share, compared with $9.9 million, or 17 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $20.3 million, or 36 cents a share.

Sales for the quarter came in at $344,3 million, compared with last year's $311 million and the $336.4 million analysts had expected.

Interface said education billings were up 18% over last year, and corporate billings were 2% higher.

The company also raised its sales outlook for 2024 to $1.315 billion to $1.325 billion, from previous guidance of $1.29 billion to $1.31 billion. Analysts are forecasting 2024 sales of $1.3.14 billion.

Interface cited stronger retail billings in the fourth quarter as leading to its guidance increase.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

November 01, 2024 10:49 ET (14:49 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Analysts polled by FactSet were looking for earnings of $20.3 million, or 36 cents a share. \n</p>\n<p>\n  Sales for the quarter came in at $344,3 million, compared with last year's $311 million and the $336.4 million analysts had expected. \n</p>\n<p>\n  Interface said education billings were up 18% over last year, and corporate billings were 2% higher. \n</p>\n<p>\n  The company also raised its sales outlook for 2024 to $1.315 billion to $1.325 billion, from previous guidance of $1.29 billion to $1.31 billion. Analysts are forecasting 2024 sales of $1.3.14 billion. \n</p>\n<p>\n  Interface cited stronger retail billings in the fourth quarter as leading to its guidance increase. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Chris Wack at chris.wack@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 01, 2024 10:49 ET (14:49 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TILE","symbol_name":"Interface Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2480880891","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480880891","pubTimestamp":1730472540,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Interface shares hit their 52-week high after the company reported third-quarter earnings and sales that beat analysts' expectations, and raised its 2024 sales forecast.Shares of the commercial flooring company were up 31% at $22.88, after trading as high as $23.19 earlier in the session.The Atlanta company said it had quarterly earnings of $28.4 million, or 48 cents a share, compared with $9.9 million, or 17 cents a share, in the same quarter last year. 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