INTERFACE Reports Q2 FY2023 Earnings Results for August 4 2023

🌥️Earnings Overview

INTERFACE ($NASDAQ:TILE) announced its second quarter earnings results for the financial year 2023, ending August 4, 2023, on June 30, 2023. The total revenue for the quarter was USD 329.6 million, a decrease of 4.9% compared to the previous year. Net income was reported to be USD 15.8 million, which is a decrease of 6.1% from the same period in the prior year.

Stock Price

On Friday, August 4th 2023, INTERFACE reported its Q2 FY2023 earnings results, with its stock opening at $10.1 at the start of the day. By the end of the day, the stock had closed at $9.8, a 0.8% decrease from its previous closing price of $9.8. Overall, the Q2 FY2023 earnings results show that the stock decreased from its opening price, however, this could be attributed to external factors such as the current market volatility and uncertainty. Despite this, analysts remain optimistic about INTERFACE’s long-term prospects as it continues to invest in research and development, new products, and international expansion efforts. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Interface. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Interface. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Interface. More…

Key Ratios Snapshot

Some of the financial key ratios for Interface are shown below. More…

Analysis

At GoodWhale, we performed an in-depth analysis of INTERFACE‘s wellbeing. After an extensive analysis, we have concluded that INTERFACE is a medium risk investment in terms of both financial and business aspects based on our Risk Rating. We have detected potential risk warnings in the income sheet and balance sheet of INTERFACE. To gain more insight into these risks, users can register for our service to access a detailed breakdown of the risk associated with INTERFACE. Our analysis provides a comprehensive look at INTERFACE’s current standing, and our service offers users a comprehensive toolkit for evaluating investments. 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

Investors may want to consider INTERFACE as a potential investment opportunity, as the company recently reported its second quarter earnings for FY2023. Total revenue for the quarter decreased by 4.9%, with net income reported at USD 15.8 million, a decrease of 6.1% year-over-year. However, the company’s financials remain relatively strong, with an improved balance sheet and liquidity position, as well as positive cash flows. INTERFACE has also shown resilience in the face of economic uncertainty, which may make it a solid choice for investors seeking a stable and reliable investment.