Shares of Interface Inc. (NASDAQ: TILE) surged over 16% in early trading on Thursday, as 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 outpacing 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 robust 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.