NASDAQ$TILE
Interface Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported fourth quarter and full year results, showing a decrease in net sales but an increase in gross profit margin.
Interface reported a decrease in net sales for both the fourth quarter and the full year 2023, but demonstrated strong gross profit margin improvement. The company focused on debt repayment and reinvesting in the business. Education and Corporate Office segments showed strength, while the retail sector experienced softness.
- Net sales totaled $325.1 million, a 3.1% year-over-year decrease.
- Gross profit margin increased to 37.9%, up 646 basis points year-over-year.
- GAAP earnings per share were $0.33, with adjusted earnings per share at $0.41.
- Generated $27.8 million in cash from operations and repaid $29.6 million of debt in the quarter.
Headline financials
Revenue & EPS history
Interface · Revenue · Quarterly
$325M
Forward guidance
Interface anticipates net sales of $280 million to $290 million for the first quarter of fiscal year 2024. They anticipate net sales of $1.26 billion to $1.28 billion for the full fiscal year 2024.
Tailwinds
- Adjusted gross profit margin of approximately 36.0% for Q1 2024.
- Adjusted SG&A expenses of approximately $83 million for Q1 2024.
- Adjusted Interest & Other expenses of approximately $8 million for Q1 2024.
- Fully diluted weighted average share count of approximately 58.8 million shares for Q1 2024.
- Adjusted gross profit margin of approximately 35.5% to 35.8% for FY 2024.
Headwinds
- Continued softness in the retail sector is expected to persist through the first half of 2024.
- Adjusted SG&A expenses of approximately 26.0% of net sales for FY 2024.
- Adjusted Interest & Other expenses of approximately $32 million for FY 2024.
- An adjusted effective tax rate for the full year of approximately 29.0%.
- Capital expenditures of approximately $42 million.
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 Q4 2023
+1.6%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+2.2%
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% | — | |
| 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% | — | — | |
| Q4 2011 | +10.4% | — | — | |
| Q2 2011 | +10.4% | — | — | |
| Q4 2010 | +10.4% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q1 2010 | -1.3% | — | — |
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