NASDAQ$TILE
Interface Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Interface reported third quarter 2023 results, showing resilience in a sluggish market with increased gross profit margin and strong cash flow.
Interface reported net sales of $311.0 million, a decrease of 5.1% year-over-year, but increased its gross profit margin to 35.5%, up 226 basis points. The company generated $66.3 million in cash from operations and repaid $30.6 million in debt. GAAP earnings per share were $0.17, and adjusted earnings per share were $0.28.
- Net sales totaled $311.0 million, down 5.1% year-over-year.
- Gross profit margin increased to 35.5%, up 226 basis points year-over-year.
- GAAP earnings per share reached $0.17; Adjusted earnings per share was $0.28.
- Generated $66.3 million of cash from operations, repaid $30.6 million of debt in the quarter.
Headline financials
Revenue & EPS history
Interface · Revenue · Quarterly
$311M
Forward guidance
Interface anticipates net sales of $1.245 billion to $1.265 billion, an adjusted gross profit margin of approximately 34.4%, and adjusted SG&A expenses of approximately $329 million for the full fiscal year 2023.
Tailwinds
- Adjusted Interest & Other expenses of approximately $35 million.
- An adjusted effective tax rate of approximately 29.5%.
- Fully diluted weighted average share count of approximately 58.3 million shares.
- Capital expenditures of approximately $32 million.
Headwinds
- Ongoing retail sector softness
- Sluggish global demand
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
+1.6%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+2.4%
Avg return
30 days after
61%
37 / 61 earnings
Positive
+34.5%
Q3 2024
Best reaction
-15.0%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | -2.2% | +9.1% | |
| Q4 2025 | +4.0% | -0.0% | -20.1% | |
| Q3 2025 | -2.9% | -2.1% | +4.6% | |
| Q1 2025 | +1.9% | +5.4% | +6.6% | |
| Q4 2024 | -11.5% | -5.1% | -4.4% | |
| Q3 2024 | +34.5% | +41.6% | +52.0% | |
| Q2 2024 | +1.4% | -1.8% | +14.1% | |
| Q1 2024 | +3.6% | +0.6% | +1.6% | |
| Q4 2023 | +15.9% | +17.4% | +26.5% | |
| Q3 2023 | +0.8% | -1.3% | +12.6% | |
| Q2 2023 | +4.1% | +5.3% | +7.9% | |
| Q1 2023 | -7.8% | -9.7% | -4.1% | |
| Q4 2022 | +4.5% | +5.3% | -11.4% | |
| Q3 2022 | +1.3% | -4.9% | +5.8% | |
| Q2 2022 | -15.0% | -13.9% | -26.8% | |
| Q1 2022 | -6.5% | -2.4% | +4.4% | |
| Q4 2021 | +12.9% | +7.6% | +4.0% | |
| Q3 2021 | +10.5% | +6.6% | -1.0% | |
| Q2 2021 | -3.0% | -1.3% | +3.7% | |
| Q1 2021 | +5.4% | +3.0% | +25.0% | |
| Q3 2020 | +13.9% | +12.0% | +35.7% | |
| Q2 2020 | +0.1% | +1.0% | -14.0% | |
| Q1 2020 | +0.0% | -11.2% | +22.7% | |
| Q4 2019 | -2.2% | -6.9% | -54.7% | |
| Q3 2019 | +11.3% | +7.8% | +10.6% | |
| Q2 2019 | -7.6% | -7.0% | -30.3% | |
| Q1 2019 | -7.4% | -4.8% | -6.7% | |
| Q4 2018 | +4.6% | +9.2% | -9.2% | |
| Q3 2018 | -7.3% | -18.2% | -16.8% | |
| Q2 2018 | -6.2% | -6.2% | -0.4% | |
| Q1 2018 | -9.2% | -12.4% | -9.2% | |
| Q4 2017 | +6.1% | +5.1% | +4.2% | |
| Q3 2017 | +5.1% | +4.6% | +18.0% | |
| Q2 2017 | +4.2% | +0.5% | +1.9% | |
| Q1 2017 | +1.0% | +0.0% | +5.1% | |
| Q4 2016 | +3.4% | +8.7% | +4.2% | |
| Q3 2016 | -4.7% | +0.3% | +14.6% | |
| Q2 2016 | +9.7% | +6.8% | +6.6% | |
| Q1 2016 | -5.2% | — | — | |
| Q4 2015 | -9.4% | — | — | |
| Q3 2015 | -13.3% | — | — | |
| Q2 2015 | +7.7% | — | — | |
| Q1 2015 | +7.0% | — | — | |
| Q4 2014 | +15.5% | — | — | |
| Q3 2014 | +2.3% | — | — | |
| Q2 2014 | -5.8% | — | — | |
| Q1 2014 | -2.4% | — | — | |
| Q4 2013 | -6.4% | — | — | |
| Q3 2013 | +2.6% | — | — | |
| Q2 2013 | +3.0% | — | — | |
| Q1 2013 | -4.2% | — | — | |
| Q2 2012 | +0.1% | — | — | |
| Q4 2012 | +5.9% | — | — | |
| Q3 2012 | -1.2% | — | — | |
| Q1 2012 | +1.3% | — | — | |
| Q3 2011 | +3.6% | — | — | |
| Q2 2011 | +10.4% | — | — | |
| Q4 2011 | +10.4% | — | — | |
| Q4 2010 | +10.4% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q1 2010 | -1.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro