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Interface Reports First Quarter 2025 Results

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Delivered strong quarter; One Interface strategy continues to drive results

ATLANTA--(BUSINESS WIRE)-- Interface, Inc. (Nasdaq: TILE), a worldwide commercial flooring company and global leader in sustainability, today announced results for the first quarter ended March 30, 2025.

First quarter highlights:

  • Net sales totaled $297 million, up 2.6% year-over-year and up 4.1% currency-neutral.
  • GAAP earnings per diluted share of $0.22; Adjusted earnings per diluted share of $0.25.
  • Momentum continues with One Interface strategy.

“We delivered a solid start to the year, with currency-neutral net sales growth of 4% year-over-year. Strong momentum continued in the Americas, where net sales grew 6% and currency-neutral orders were up 10%, partially offset by a softer macro environment in EAAA. Global billings in both Healthcare and Education grew double digits demonstrating the power of our strategy that continues to diversify and strengthen our business,� commented Laurel Hurd, CEO of Interface.

“Our first quarter performance highlights the ongoing success of our One Interface strategy, which aims to accelerate growth, expand margins, and lead in design, performance, and sustainability. To further these goals, we recently named our first Vice President of Global Product Category Management to accelerate and optimize our product innovation pipeline, ensuring we continue to deliver world-class products that meet the evolving needs of the market while embodying the essence of Interface,� continued Hurd.

“First quarter results exceeded our expectations, reflecting our team’s disciplined execution amid a dynamic macroeconomic backdrop. We are navigating the current environment from a position of strength, as our One Interface strategy continues to yield tangible results, and our strong balance sheet provides optionality and flexibility. We remain focused on delivering long-term value for our shareholders,� added Bruce Hausmann, CFO of Interface.

Consolidated Results Summary (Unaudited)

Three Months Ended

Ìý

(in millions, except percentages and per share data)

3/30/2025

3/31/2024

Change

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

GAAP

Ìý

Ìý

Ìý

Ìý

Net Sales

$

297.4

Ìý

$

289.7

Ìý

2.6

Ìý%

Ìý

Gross Profit Margin % of Net Sales

Ìý

37.3

Ìý%

Ìý

38.1

Ìý%

(80) bps

Ìý

SG&A Expenses

$

87.7

Ìý

$

86.0

Ìý

2.1

Ìý%

Ìý

SG&A Expenses % of Net Sales

Ìý

29.5

Ìý%

Ìý

29.7

Ìý%

(17) bps

Ìý

Operating Income

$

23.2

Ìý

$

24.4

Ìý

(5.0

)%

Ìý

Net Income

$

13.0

Ìý

$

14.2

Ìý

(8.3

)%

Ìý

Earnings per Diluted Share

$

0.22

Ìý

$

0.24

Ìý

(8.3

)%

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Non-GAAP

Ìý

Ìý

Ìý

Ìý

Currency-Neutral Net Sales

$

301.7

Ìý

$

289.7

Ìý

4.1

Ìý%

Ìý

Adjusted Gross Profit Margin % of Net Sales

Ìý

37.7

Ìý%

Ìý

38.6

Ìý%

(82) bps

Ìý

Adjusted SG&A Expenses

$

86.8

Ìý

$

86.2

Ìý

0.7

Ìý%

Ìý

Adjusted SG&A Expenses % of Net Sales

Ìý

29.2

Ìý%

Ìý

29.7

Ìý%

(57) bps

Ìý

Adjusted Operating Income

$

25.5

Ìý

$

25.5

Ìý

(0.3

)%

Ìý

Adjusted Net Income

$

14.6

Ìý

$

14.2

Ìý

3.0

Ìý%

Ìý

Adjusted Earnings per Diluted Share

$

0.25

Ìý

$

0.24

Ìý

4.2

Ìý%

Ìý

Adjusted EBITDA

$

37.0

Ìý

$

38.8

Ìý

(4.5

)%

Ìý

Currency-Neutral Orders Increase Year-Over-Year

Ìý

3.3

Ìý%

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

  • First quarter 2025 adjusted gross profit margin declined 82 basis points year-over-year, as expected, due to higher manufacturing costs in EAAA and higher freight costs partially offset by higher pricing.

Ìý

Ìý

Ìý

Ìý

Ìý

Additional Metrics

3/30/2025

12/29/2024

Change

Ìý

Cash

$

97.8

Ìý

$

99.2

Ìý

(1.5

)%

Ìý

Total Debt

$

302.9

Ìý

$

302.8

Ìý

0.0

Ìý%

Ìý

Total Debt Minus Cash ("Net Debt")

$

205.1

Ìý

$

203.5

Ìý

0.8

Ìý%

Ìý

Last 12-Months Adjusted EBITDA

$

187.2

Ìý

Ìý

Ìý

Ìý

Total Debt divided by Last 12-Months Net Income

3.5x

Ìý

Ìý

Ìý

Net Debt divided by Last 12-Months Adjusted EBITDA ("Net Leverage Ratio")

1.1x

Ìý

Ìý

Ìý

Segment Results Summary (Unaudited)

Three Months Ended

Ìý

(in millions, except percentages)

3/30/2025

3/31/2024

Change

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

AMS

Ìý

Ìý

Ìý

Ìý

Ìý

Net Sales

$

179.9

Ìý

$

169.9

Ìý

5.9

Ìý%

Ìý

Currency-Neutral Net Sales

$

180.7

Ìý

$

169.9

Ìý

6.3

Ìý%

Ìý

Operating Income

$

19.1

Ìý

$

18.2

Ìý

5.2

Ìý%

Ìý

Adjusted Operating Income

$

19.9

Ìý

$

18.1

Ìý

9.9

Ìý%

Ìý

Currency-Neutral Orders Increase Year-Over-Year

Ìý

9.8

Ìý%

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

EAAA

Ìý

Ìý

Ìý

Ìý

Ìý

Net Sales

$

117.5

Ìý

$

119.8

Ìý

(2.0

)%

Ìý

Currency-Neutral Net Sales

$

121.1

Ìý

$

119.8

Ìý

1.0

Ìý%

Ìý

Operating Income

$

4.1

Ìý

$

6.3

Ìý

(34.6

)%

Ìý

Adjusted Operating Income

$

5.6

Ìý

$

7.4

Ìý

(24.9

)%

Ìý

Currency-Neutral Orders (Decrease) Year-Over-Year

Ìý

(5.7

)%

Ìý

Ìý

Ìý

Ìý

Outlook

Interface is forecasting a strong second quarter and remains focused on delivering a strong year amid a dynamic macro environment and increased global macro uncertainty. Order momentum and a healthy backlog support the Company's expectations for a strong second quarter. With that backdrop in mind, Interface anticipates the following:

Ìý

Ìý

Q2 Fiscal Year 2025 Outlook

Ìý

Ìý

Net sales

Ìý

$355 million to $365 million

Ìý

Ìý

Adjusted gross profit margin

Ìý

37.2% of net sales

Ìý

Ìý

Adjusted SG&A expenses

Ìý

$90 million

Ìý

Ìý

Adjusted interest & other expenses

Ìý

$6 million

Ìý

Ìý

Adjusted effective income tax rate

Ìý

27.5%

Ìý

Ìý

Fully diluted weighted average share count

Ìý

59.3 million shares

Ìý

Ìý

Note: All figures are approximate

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Full Fiscal Year 2025 Outlook

Ìý

Previous Full Fiscal Year 2025 Outlook

Net sales

Ìý

$1.340 billion to $1.365 billion

Ìý

$1.315 billion to $1.365 billion

Adjusted gross profit margin

Ìý

37.2% to 37.4% of net sales

Ìý

37.2% to 37.4% of net sales

Adjusted SG&A expenses

Ìý

26% of net sales

Ìý

26% of net sales

Adjusted interest & other expenses

Ìý

$24 million

Ìý

$24 million

Adjusted effective income tax rate

Ìý

27.0%

Ìý

28.0%

Capital expenditures

Ìý

$45 million

Ìý

$45 million

Note: All figures are approximate

Ìý

Ìý

Ìý

Ìý

Webcast and Conference Call Information

Interface will host a conference call on May 2, 2025, at 8:00 a.m. Eastern Time, to discuss its first quarter 2025 results. The conference call will be simultaneously broadcast live over the Internet.

Listeners may access the conference call live over the Internet at:

, or through the Company's website at: .

The archived version of the webcast will be available at these sites for one year beginning approximately one hour after the call ends.

Non-GAAP Financial Measures

Interface provides adjusted earnings per share, adjusted net income, adjusted operating income ("AOI"), adjusted gross profit, adjusted gross profit margin, adjusted SG&A expenses, currency- neutral sales and currency-neutral sales growth, net debt, and adjusted EBITDA as additional information regarding its operating results in this press release. These non-GAAP measures are not in accordance with � or alternatives to � GAAP measures, and may be different from non-GAAP measures used by other companies. Adjusted EPS, adjusted net income, and AOI exclude nora purchase accounting amortization, restructuring, asset impairment, severance, and other, net, and the cyber event impact. Adjusted EPS and adjusted net income also exclude the property casualty loss impact. Adjusted gross profit and adjusted gross profit margin exclude the nora purchase accounting amortization. Adjusted SG&A expenses exclude restructuring, asset impairment, severance, and other, net and the cyber event impact. Currency-neutral sales and currency-neutral sales growth exclude the impact of foreign currency fluctuations.

Net debt is total debt less cash on hand. Adjusted EBITDA is GAAP net income excluding interest expense, income tax expense, depreciation and amortization, share-based compensation expense, cyber event impact, property casualty loss impact, restructuring, asset impairment, severance, and other, net, the nora purchase accounting amortization, and the loss on foreign subsidiary liquidation. This news release should be read in conjunction with the Company's Current Report on Form 8-K furnished today to the U.S. Securities & Exchange Commission, which explains why Interface believes presentation of these non-GAAP measures provides useful information to investors, as well as any additional material purposes for which Interface uses these non-GAAP measures.

About Interface

Interface, Inc. (NASDAQ: TILE) is a global flooring solutions company and sustainability leader, offering an integrated portfolio of carpet tile and resilient flooring products that includes Interface® carpet tile and LVT, nora® rubber flooring, and FLOR® premium area rugs for commercial and residential spaces. Made with purpose and without compromise, Interface flooring brings more sophisticated design, more performance, more innovation, and more climate progress to interior spaces.

A decades-long pioneer in sustainability, Interface remains “all in� on becoming a restorative business. Today, the company is focusing on carbon reductions, not offsets, as it works toward achieving its verified science-based targets by 2030 and its goal to become a carbon negative enterprise by 2040.

Learn more about Interface at and , nora by Interface at , FLOR at , and our sustainability journey at .

Follow us on , , , , and .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements may be identified by words such as “may,� “expect,� “forecast,� “anticipate,� “intend,� “plan,� “believe,� “could,� “should,� “goal,� “aim," “objective,� “seek,� “project,� “estimate,� “target,� “will� and similar expressions. Forward-looking statements in this press release include, without limitation, any projections we make regarding the Company’s 2025 second quarter and full year 2025 under “Outlook� above. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in “Risk Factors� in the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2024: "We compete with a large number of manufacturers in the highly competitive floorcovering products market, and some of these competitors have greater financial resources than we do. We may face challenges competing on price, making investments in our business, or competing on product design or sustainability", "Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicates a material impairment of those assets", "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives, our principal design consultant and other key personnel (including experienced sales and manufacturing personnel), and our loss of any of them could affect us adversely", "Large increases in the cost of our raw materials, shipping costs, duties or tariffs could adversely affect us if we are unable to pass these cost increases through to our customers", "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber or our primary third-party supplier for luxury vinyl tile (“LVT�) or other key raw materials could have a material adverse effect on us", "Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase our manufacturing costs, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations", "Our business operations could suffer significant losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, endemics, unstable geopolitical situations or other unexpected events", "The market price of our common stock has been volatile and the value of your investment may decline", "Sales of our principal products have been and may continue to be affected by adverse economic cycles, and effects in the new construction market and renovation market", "Disruptions to or failures of information technology systems we use could adversely affect our business", "The impact of potential changes to environmental laws and regulations and industry standards regarding climate change and other sustainability matters could lead to unforeseen disruptions to our business operations", "Health crisis events, such as epidemics or pandemics, have adversely impacted, and may continue to impact, the economy and disrupt our operations and supply chains, which may have an adverse effect on our results of operations", Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including foreign currency fluctuations, restrictive taxation, custom duties, tariffs, border closings or other adverse government regulations", "The conflicts between Russia and Ukraine and in the Middle East could adversely affect our business, results of operations and financial position", "Fluctuations in foreign currency exchange rates have had, and could continue to have, an adverse impact on our financial condition and results of operations", "The uncertainty surrounding the ongoing implementation and effect of the U.K.’s exit from the European Union, and related negative developments in the European Union, could adversely affect our business, results of operations or financial condition", "We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt", "Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness", "We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness", and "We face risks associated with litigation and claims".

You should consider any additional or updated information we include under the heading “Risk Factors� in our subsequent quarterly and annual reports.

Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.

- TABLES FOLLOW -

Consolidated Statements of Operations (Unaudited)

Three Months Ended

Ìý

(In thousands, except per share data)

3/30/2025

Ìý

3/31/2024

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Net Sales

$

297,413

Ìý

Ìý

$

289,743

Ìý

Ìý

Cost of Sales

Ìý

186,450

Ìý

Ìý

Ìý

179,338

Ìý

Ìý

Gross Profit

Ìý

110,963

Ìý

Ìý

Ìý

110,405

Ìý

Ìý

Selling, General & Administrative Expenses

Ìý

87,736

Ìý

Ìý

Ìý

85,959

Ìý

Ìý

Operating Income

Ìý

23,227

Ìý

Ìý

Ìý

24,446

Ìý

Ìý

Interest Expense

Ìý

4,415

Ìý

Ìý

Ìý

6,423

Ìý

Ìý

Other Expense (Income), net

Ìý

1,703

Ìý

Ìý

Ìý

(976

)

Ìý

Income Before Income Tax Expense

Ìý

17,109

Ìý

Ìý

Ìý

18,999

Ìý

Ìý

Income Tax Expense

Ìý

4,107

Ìý

Ìý

Ìý

4,820

Ìý

Ìý

Net Income

$

13,002

Ìý

Ìý

$

14,179

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Earnings Per Share � Basic

$

0.22

Ìý

Ìý

$

0.24

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Earnings Per Share � Diluted

$

0.22

Ìý

Ìý

$

0.24

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Common Shares Outstanding � Basic

Ìý

58,434

Ìý

Ìý

Ìý

58,238

Ìý

Ìý

Common Shares Outstanding � Diluted

Ìý

59,173

Ìý

Ìý

Ìý

58,714

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Consolidated Balance Sheets (Unaudited)

Ìý

Ìý

Ìý

Ìý

Ìý Ìý

(In thousands)

3/30/2025

Ìý

12/29/2024

Ìý

Assets

Ìý

Ìý

Ìý

Ìý

Ìý Ìý

Cash and Cash Equivalents

$

97,757

Ìý

Ìý

$

99,226

Ìý Ìý

Accounts Receivable, net

Ìý

162,754

Ìý

Ìý

Ìý

171,135

Ìý Ìý

Inventories, net

Ìý

281,741

Ìý

Ìý

Ìý

260,581

Ìý Ìý

Other Current Assets

Ìý

37,185

Ìý

Ìý

Ìý

33,355

Ìý Ìý

Total Current Assets

Ìý

579,437

Ìý

Ìý

Ìý

564,297

Ìý Ìý

Property, Plant and Equipment, net

Ìý

283,783

Ìý

Ìý

Ìý

282,374

Ìý Ìý

Operating Lease Right-of-Use Assets

Ìý

77,845

Ìý

Ìý

Ìý

76,815

Ìý Ìý

Goodwill and intangibles assets, net

Ìý

152,282

Ìý

Ìý

Ìý

148,160

Ìý Ìý

Other Assets

Ìý

98,451

Ìý

Ìý

Ìý

99,170

Ìý Ìý

Total Assets

$

1,191,798

Ìý

Ìý

$

1,170,816

Ìý Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý Ìý

Liabilities

Ìý

Ìý

Ìý

Ìý

Ìý Ìý

Accounts Payable

$

82,958

Ìý

Ìý

$

68,943

Ìý Ìý

Accrued Expenses

Ìý

114,009

Ìý

Ìý

Ìý

134,996

Ìý Ìý

Current Portion of Operating Lease Liabilities

Ìý

12,718

Ìý

Ìý

Ìý

12,296

Ìý Ìý

Current Portion of Long-Term Debt

Ìý

487

Ìý

Ìý

Ìý

482

Ìý Ìý

Total Current Liabilities

Ìý

210,172

Ìý

Ìý

Ìý

216,717

Ìý Ìý

Long-Term Debt

Ìý

302,390

Ìý

Ìý

Ìý

302,275

Ìý Ìý

Operating Lease Liabilities

Ìý

69,160

Ìý

Ìý

Ìý

68,092

Ìý Ìý

Other Long-Term Liabilities

Ìý

97,009

Ìý

Ìý

Ìý

94,584

Ìý Ìý

Total Liabilities

Ìý

678,731

Ìý

Ìý

Ìý

681,668

Ìý Ìý

Shareholders� Equity

Ìý

513,067

Ìý

Ìý

Ìý

489,148

Ìý Ìý

Total Liabilities and Shareholders� Equity

$

1,191,798

Ìý

Ìý

$

1,170,816

Ìý Ìý

Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended

Ìý

(In thousands)

3/30/2025

Ìý

3/31/2024

Ìý

OPERATING ACTIVITIES

Ìý

Ìý

Ìý

Ìý

Net Income

$

13,002

Ìý

Ìý

$

14,179

Ìý

Ìý

Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:

Ìý

Ìý

Ìý

Ìý

Depreciation and Amortization

Ìý

9,401

Ìý

Ìý

Ìý

9,616

Ìý

Ìý

Share-Based Compensation Expense

Ìý

4,145

Ìý

Ìý

Ìý

3,915

Ìý

Ìý

Amortization of Acquired Intangible Assets

Ìý

1,255

Ìý

Ìý

Ìý

1,297

Ìý

Ìý

Deferred Taxes

Ìý

(837

)

Ìý

Ìý

(678

)

Ìý

Other

Ìý

3,070

Ìý

Ìý

Ìý

(3,708

)

Ìý

Change in Working Capital

Ìý

Ìý

Ìý

Ìý

Accounts Receivable

Ìý

10,675

Ìý

Ìý

Ìý

13,837

Ìý

Ìý

Inventories

Ìý

(16,339

)

Ìý

Ìý

(20,477

)

Ìý

Prepaid Expenses and Other Current Assets

Ìý

(3,438

)

Ìý

Ìý

(2,193

)

Ìý

Accounts Payable and Accrued Expenses

Ìý

(9,195

)

Ìý

Ìý

(3,169

)

Ìý

Cash Provided by Operating Activities

Ìý

11,739

Ìý

Ìý

Ìý

12,619

Ìý

Ìý

INVESTING ACTIVITIES

Ìý

Ìý

Ìý

Ìý

Capital Expenditures

Ìý

(7,467

)

Ìý

Ìý

(4,033

)

Ìý

Proceeds from Sale of Property, Plant and Equipment

Ìý

�

Ìý

Ìý

Ìý

1,040

Ìý

Ìý

Insurance Proceeds from Property Casualty Loss

Ìý

�

Ìý

Ìý

Ìý

1,000

Ìý

Ìý

Cash Used in Investing Activities

Ìý

(7,467

)

Ìý

Ìý

(1,993

)

Ìý

FINANCING ACTIVITIES

Ìý

Ìý

Ìý

Ìý

Repayments of Long-term Debt

Ìý

(122

)

Ìý

Ìý

(34,783

)

Ìý

Borrowing of Long-term Debt

Ìý

�

Ìý

Ìý

Ìý

10,000

Ìý

Ìý

Tax Withholding Payments for Share-Based Compensation

Ìý

(7,730

)

Ìý

Ìý

(4,271

)

Ìý

Dividends Paid

Ìý

(54

)

Ìý

Ìý

(6

)

Ìý

Finance Lease Payments

Ìý

(762

)

Ìý

Ìý

(716

)

Ìý

Cash Used in Financing Activities

Ìý

(8,668

)

Ìý

Ìý

(29,776

)

Ìý

Net Cash Used in Operating, Investing and Financing Activities

Ìý

(4,396

)

Ìý

Ìý

(19,150

)

Ìý

Effect of Exchange Rate Changes on Cash

Ìý

2,927

Ìý

Ìý

Ìý

(1,574

)

Ìý

CASH AND CASH EQUIVALENTS

Ìý

Ìý

Ìý

Ìý

Net Change During the Period

Ìý

(1,469

)

Ìý

Ìý

(20,724

)

Ìý

Balance at Beginning of Period

Ìý

99,226

Ìý

Ìý

Ìý

110,498

Ìý

Ìý

Balance at End of Period

$

97,757

Ìý

Ìý

$

89,774

Ìý

Ìý

Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures (Unaudited)

(In millions, except per share amounts)

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

First Quarter 2025

Ìý

First Quarter 2024

Ìý

Ìý

Ìý

Ìý

Ìý

Adjustments

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Adjustments

Ìý

Ìý

Ìý

Gross

Profit

SG&A

Expenses

Operating

Income

(Loss)

Pre-tax

Tax

Effect

Net

Income

(Loss)

Diluted

EPS

Ìý

Gross

Profit

SG&A

Expenses

Operating

Income

(Loss)

Pre-tax

Tax

Effect

Net

Income

(Loss)

Diluted

EPS

GAAP As Reported

$

111.0

Ìý

$

87.7

Ìý

$

23.2

Ìý

Ìý

Ìý

Ìý

$

13.0

Ìý

$

0.22

Ìý

Ìý

$

110.4

Ìý

$

86.0

Ìý

$

24.4

Ìý

Ìý

Ìý

$

14.2

Ìý

$

0.24

Ìý

Non-GAAP Adjustments:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Purchase Accounting Amortization

Ìý

1.3

Ìý

Ìý

�

Ìý

Ìý

1.3

Ìý

1.3

Ìý

(0.4

)

Ìý

0.9

Ìý

Ìý

0.02

Ìý

Ìý

Ìý

1.3

Ìý

Ìý

�

Ìý

Ìý

1.3

Ìý

1.3

Ìý

(0.4

)

Ìý

0.9

Ìý

Ìý

0.02

Ìý

Restructuring, Asset Impairment, Severance, and Other, net

Ìý

�

Ìý

Ìý

(1.0

)

Ìý

1.0

Ìý

1.0

Ìý

(0.2

)

Ìý

0.7

Ìý

Ìý

0.01

Ìý

Ìý

Ìý

�

Ìý

Ìý

(0.2

)

Ìý

0.2

Ìý

0.2

Ìý

0.0

Ìý

Ìý

0.2

Ìý

Ìý

�

Ìý

Cyber Event Impact

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

�

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

Ìý

�

Ìý

Ìý

0.4

Ìý

Ìý

(0.4

)

(0.4

)

0.1

Ìý

Ìý

(0.3

)

Ìý

(0.01

)

Property Casualty Loss (1)

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

�

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

(1.0

)

0.2

Ìý

Ìý

(0.7

)

Ìý

(0.01

)

Adjustments Subtotal *

Ìý

1.3

Ìý

Ìý

(1.0

)

Ìý

2.2

Ìý

2.2

Ìý

(0.6

)

Ìý

1.6

Ìý

Ìý

0.03

Ìý

Ìý

Ìý

1.3

Ìý

Ìý

0.2

Ìý

Ìý

1.1

Ìý

0.1

Ìý

(0.1

)

Ìý

�

Ìý

Ìý

�

Ìý

Adjusted (non-GAAP) *

$

112.2

Ìý

$

86.8

Ìý

$

25.5

Ìý

Ìý

Ìý

Ìý

$

14.6

Ìý

$

0.25

Ìý

Ìý

$

111.7

Ìý

$

86.2

Ìý

$

25.5

Ìý

Ìý

Ìý

$

14.2

Ìý

$

0.24

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

(1) Represents property insurance (recovery) / loss

* Note: Sum of reconciling items may differ from total due to rounding of individual components

Reconciliation of Segment GAAP Financial Measures to Non-GAAP Financial Measures ("Currency-Neutral Net Sales", and "AOI")

(In millions)

Ìý

First Quarter 2025

Ìý

First Quarter 2024

Ìý

AMS Segment

EAAA Segment

Consolidated *

Ìý

AMS Segment

EAAA Segment

Consolidated *

Net Sales as Reported (GAAP)

$

179.9

Ìý

$

117.5

Ìý

$

297.4

Ìý

Ìý

$

169.9

Ìý

$

119.8

Ìý

$

289.7

Ìý

Impact of Changes in Currency

Ìý

0.7

Ìý

Ìý

3.6

Ìý

Ìý

4.3

Ìý

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Currency-Neutral Net Sales *

$

180.7

Ìý

$

121.1

Ìý

$

301.7

Ìý

Ìý

$

169.9

Ìý

$

119.8

Ìý

$

289.7

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

* Note: Sum of reconciling items may differ from total due to rounding of individual components

Ìý

Ìý

First Quarter 2025

Ìý

First Quarter 2024

Ìý

AMS Segment

EAAA Segment

Consolidated *

Ìý

AMS Segment

EAAA Segment

Consolidated *

GAAP Operating Income (Loss)

$

19.1

Ìý

$

4.1

Ìý

$

23.2

Ìý

Ìý

$

18.2

Ìý

$

6.3

Ìý

$

24.4

Ìý

Non-GAAP Adjustments:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Purchase Accounting Amortization

Ìý

�

Ìý

Ìý

1.3

Ìý

Ìý

1.3

Ìý

Ìý

Ìý

�

Ìý

Ìý

1.3

Ìý

Ìý

1.3

Ìý

Cyber Event Impact

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

�

Ìý

Ìý

Ìý

(0.2

)

Ìý

(0.2

)

Ìý

(0.4

)

Restructuring, Asset Impairment, Severance, and Other, net

Ìý

0.7

Ìý

Ìý

0.2

Ìý

Ìý

1.0

Ìý

Ìý

Ìý

0.1

Ìý

Ìý

0.1

Ìý

Ìý

0.2

Ìý

Adjustments Subtotal *

Ìý

0.7

Ìý

Ìý

1.5

Ìý

Ìý

2.2

Ìý

Ìý

Ìý

(0.1

)

Ìý

1.2

Ìý

Ìý

1.1

Ìý

AOI *

$

19.9

Ìý

$

5.6

Ìý

$

25.5

Ìý

Ìý

$

18.1

Ìý

$

7.4

Ìý

$

25.5

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

* Note: Sum of reconciling items may differ from total due to rounding of individual components

Ìý

Ìý

Ìý

Ìý

Ìý

(in millions)

First Quarter

2025

Ìý

First Quarter

2024

Ìý

Last Twelve

Months (LTM)

Ended

3/30/2025

Ìý

Fiscal Year

2024

Net Income as Reported (GAAP)

$

13.0

Ìý

Ìý

$

14.2

Ìý

Ìý

$

85.8

Ìý

Ìý

$

86.9

Ìý

Income Tax Expense

Ìý

4.1

Ìý

Ìý

Ìý

4.8

Ìý

Ìý

Ìý

25.9

Ìý

Ìý

Ìý

26.6

Ìý

Interest Expense (including debt issuance cost amortization)

Ìý

4.4

Ìý

Ìý

Ìý

6.4

Ìý

Ìý

Ìý

21.2

Ìý

Ìý

Ìý

23.2

Ìý

Depreciation and Amortization (excluding debt issuance cost amortization)

Ìý

9.1

Ìý

Ìý

Ìý

9.3

Ìý

Ìý

Ìý

37.2

Ìý

Ìý

Ìý

37.3

Ìý

Share-based Compensation Expense

Ìý

4.1

Ìý

Ìý

Ìý

3.9

Ìý

Ìý

Ìý

13.1

Ìý

Ìý

Ìý

12.9

Ìý

Purchase Accounting Amortization

Ìý

1.3

Ìý

Ìý

Ìý

1.3

Ìý

Ìý

Ìý

5.1

Ìý

Ìý

Ìý

5.2

Ìý

Restructuring, Asset Impairment, Severance, and Other, net

Ìý

1.0

Ìý

Ìý

Ìý

0.2

Ìý

Ìý

Ìý

3.3

Ìý

Ìý

Ìý

2.5

Ìý

Cyber Event Impact

Ìý

�

Ìý

Ìý

Ìý

(0.4

)

Ìý

Ìý

(5.1

)

Ìý

Ìý

(5.5

)

Property Casualty Loss(1)

Ìý

�

Ìý

Ìý

Ìý

(1.0

)

Ìý

Ìý

(1.4

)

Ìý

Ìý

(2.3

)

Loss on Foreign Subsidiary Liquidation (2)

Ìý

�

Ìý

Ìý

Ìý

�

Ìý

Ìý

Ìý

2.2

Ìý

Ìý

Ìý

2.2

Ìý

Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (AEBITDA)*

$

37.0

Ìý

Ìý

$

38.8

Ìý

Ìý

$

187.2

Ìý

Ìý

$

189.0

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

(1) Represents insurance recovery.

(2) In 2024 our Thailand subsidiary was substantially liquidated and the related cumulative translation adjustment was recognized in other expense.

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

* Note: Sum of reconciling items may differ from total due to rounding of individual components

Ìý

The impacts of changes in foreign currency presented in the tables are calculated based on applying the prior year period's average foreign currency exchange rates to the current year period.

The Company believes that the above non-GAAP performance measures, which management uses in managing and evaluating the Company’s business, may provide users of the Company’s financial information with additional meaningful basis for comparing the Company’s current results and results in a prior period, as these measures reflect factors that are unique to one period relative to the comparable period. However, these non‑GAAP performance measures should be viewed in addition to, and not as an alternative for, the Company’s reported results under accounting principles generally accepted in the United States. Tax effects identified above (when applicable) are calculated using the statutory tax rate for the jurisdictions in which the charge or income occurred.

Media Contact:

Christine Needles

Global Corporate Communications

[email protected]

+1 404-491-4660

Investor Contact:

Bruce Hausmann

Chief Financial Officer

[email protected]

+1 770-437-6802

Source: Interface, Inc.

Interface Inc

NASDAQ:TILE

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1.23B
57.23M
2.1%
99.38%
5.06%
Furnishings, Fixtures & Appliances
Carpets & Rugs
United States
ATLANTA