Interface Misses Q1 Consensus, Initiates Q2 and Updates FY23 Outlook
May 6, 2023
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They have also initiated Q2 guidance and revised their FY23 outlook. This announcement has caused a dip in their share price as investors weigh in on the news. Interface ($NASDAQ:TILE) is a leading designer and maker of modular flooring products. They have established themselves as a leader in their industry by developing innovative products for both residential and commercial spaces. Their products have seen increased demand since the pandemic and the company is confident that their products will remain popular as people continue to invest in their homes. Despite this miss, Interface remains optimistic about the future, citing growth in their product sales as well as their strong customer base.
In response to the Q1 report, Interface has initiated Q2 guidance and revised their FY23 outlook. Interface’s Q1 report and revised outlook may come as a disappointment to investors, however the company remains optimistic about their future prospects. They are confident that their products will continue to find favor with consumers and that they will be able to deliver strong results going forward.
Market Price
The company has released a statement outlining their plans to take the necessary steps to address their short-term challenges and remain on track to achieve their long-term objectives. They have identified key areas of focus such as cost structure optimization, operational efficiency, and enhancing customer experience in order to drive sustainable growth over the next three years. Interface_Misses_Q1_Consensus_Initiates_Q2_and_Updates_FY23_Outlook”>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Interface. More…
| Total Revenues | Net Income | Net Margin |
| 1.3k | 19.24 | 3.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Interface. More…
| Operations | Investing | Financing |
| 43.06 | -18.44 | -19.49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Interface. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.27k | 904.97 | 6.22 |
Key Ratios Snapshot
Some of the financial key ratios for Interface are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -1.1% | -7.6% | 5.5% |
| FCF Margin | ROE | ROA |
| 1.9% | 13.1% | 3.5% |
Analysis
At GoodWhale, we have conducted an analysis of INTERFACE‘s fundamentals. According to our Star Chart, INTERFACE is classified as a ‘cow’ – a type of company with a track record of paying out consistent and sustainable dividends. This makes it an attractive prospect for investors looking for dividend income or steady returns over the long-term. We have also assessed INTERFACE’s overall financial health and determined that it scores 8/10, indicating that it is capable of both paying off debt and funding future operations. In terms of other fundamentals, we believe that INTERFACE is strong in dividend and profitability, but only medium in asset and weak in growth. More…
Peers
Interface Inc, a US-based company, is one of the world’s leading manufacturers of floorcoverings. The company produces a wide range of products, including carpet tiles, broadloom carpets, and rugs. Interface Inc has a strong competitive position in the market, with a leading market share in the US and Europe. The company faces stiff competition from a number of competitors, including Somfy SA, Churchill China PLC, and PT Imago Mulia Persada Tbk.
– Somfy SA ($LTS:0RR3)
Somfy SA is a French company that manufactures and markets motors and controls for blinds, awnings, curtains, gates, and garage doors. The company also manufactures and markets home automation products. As of 2022, Somfy SA had a market capitalization of 3.42 billion euros and a return on equity of 12.25%. The company’s products are sold in more than 60 countries around the world.
– Churchill China PLC ($LSE:CHH)
Churchill China PLC is a leading supplier of ceramic tableware to the hotel, restaurant and catering industry in the United Kingdom. The company has a market cap of 142.97M as of 2022 and a Return on Equity of 13.12%. Churchill China PLC designs, manufactures and distributes an extensive range of ceramic products for the foodservice, hospitality and retail sectors. The company’s products include dinnerware, glassware, flatware, table accessories and giftware. Churchill China PLC is headquartered in Stoke-on-Trent, the United Kingdom.
– PT Imago Mulia Persada Tbk ($IDX:LFLO)
PT Imago Mulia Persada Tbk is a publicly traded company with a market cap of 76.7 billion as of 2022. The company has a return on equity of 3.95%. The company is engaged in the business of providing services related to the management and operation of toll roads.
Summary
Interface is a global commercial flooring company that has recently reported that it missed the consensus estimates for the first quarter of the year. This has caused the stock price to decrease. Investors should carefully consider the company’s update on their outlook for the second quarter and fiscal year 2023 before making any decisions about investing in Interface. Additionally, investors should research the company’s financial performance and prospects, as well as research the flooring industry as a whole, to ensure they are making a well-informed decision.
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