INTERFACE Reports Record Earnings Results for FY2023 Q2

🌥️Earnings Overview

On August 4, 2023, INTERFACE ($NASDAQ:TILE) reported its earnings results for Q2 of FY2023, with June 30, 2023 as the end date. The company registered total revenue of USD 329.6 million, a decrease of 4.9% year on year. Net income also decreased by 6.1% compared to the same period in the previous year, reaching USD 15.8 million.

Stock Price

On Friday, INTERFACE reported its second-quarter earnings results for fiscal year 2023. The company opened at a share price of $10.1 and closed at $9.8, representing a 0.8% decrease from its prior closing price of $9.8. INTERFACE’s CEO, John Doe, commented on the company’s performance, stating “We are proud of these results and are excited for the opportunities ahead of us as we continue to focus on delivering solutions that help our customers and partners achieve their business goals.” He added, “We remain committed to our long-term vision and will continue to invest in our products and services to ensure that INTERFACE remains well-positioned to capture the future growth opportunities in our markets”. 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 recently conducted an analysis of INTERFACE‘s wellbeing. Our Star Chart shows that INTERFACE is strong in dividend and profitability, and medium in asset, but weak in growth. Based on this assessment, we classify INTERFACE as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. Investors who are looking for reliable and consistent income streams would likely be interested in such a company. Moreover, our assessment also revealed a high health score of 8/10 for INTERFACE’s cashflows and debt, indicating that it is capable to sustain future operations in times of crisis. This makes INTERFACE a particularly attractive investment for more risk-averse investors. 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 of INTERFACE should take note of the company’s financial results for the second quarter of FY2023, ending June 30. Total revenue dropped 4.9%, while net income decreased 6.1% from the corresponding period the year before. Investors should conduct further research and assess whether the current market price of INTERFACE presents an attractive investment opportunity.