Shares of Interface Inc. (NASDAQ: TILE), a leading modular carpet manufacturer, skyrocketed by more than 34% on Thursday, November 1, 2024, fueled by the company's impressive third-quarter 2024 earnings and an upwardly revised full-year revenue forecast.
For the quarter ended September 29, Interface reported adjusted earnings of $0.48 per share, significantly surpassing analysts' consensus estimate of $0.34 per share. The company's net sales rose 10.7% year-over-year to $344.27 million, also exceeding the $336.42 million expectation.
Buoyed by the robust Q3 performance, Interface raised its fiscal 2024 net sales guidance to a range of $1.315 billion to $1.325 billion, compared to its previous outlook of $1.30 billion to $1.32 billion. This upwardly revised forecast exceeded analysts' average projection of $1.31 billion for the full year.
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