Interface, beats earnings estimates for third quarter

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Interface ($NASDAQ:TILE), Inc. is a global leader in the design, production, and sale of modular carpet tiles. The company today announced that its third quarter non-GAAP EPS of $0.30 beats estimates by $0.04. Interface’s strong results were driven by continued growth in its core carpet tile business, as well as favorable currency exchange rates. Looking ahead, Interface expects to continue to benefit from positive macroeconomic conditions and expects to generate strong cash flow from operations.

Earnings

Interface, Inc. is a global flooring company with a strong focus on sustainability. The company produces and sells modular carpet, luxury vinyl tile, and other flooring products that are made from recycled materials and are designed to be reused or recycled at the end of their useful life. In its earning report of FY2022 Q2 ending June 30, INTERFACE earned 1287.0M USD in total revenue, earned 62.9M USD in net income.

Compared to previous year, there was a 7.2% increase in total revenue, and a 13.9% increase in net income. The company’s focus on sustainability has helped it to grow its top line while also increasing its bottom line.

Price History

Negative news sentiment has been swirling around Interface, Inc. for the past few weeks. On Friday, the company’s stock opened at $10.2 and closed at $10.2, down by 4.3% from the prior closing price of $10.7. Despite the negative news, Interface, Inc. reported earnings that beat estimates for the third quarter. This news was not enough to boost the stock price, but it may be a sign that the company is headed in the right direction.

VI Analysis

The company has a strong financial position and a history of profitability, but faces some risks in the form of intense competition, volatile raw materials prices, and exposure to the cyclical nature of the construction industry. Overall, Interface is a medium-risk investment.

VI 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

If you’re looking for a company that provides innovative flooring solutions, you may want to consider investing in Interface, Inc. The company just reported better-than-expected earnings for the third quarter, and its stock price has been moving down since the news was announced. Despite the recent dip, Interface is still a strong company with a long history of success. Investing in Interface could provide you with the opportunity to profit from the company’s continued growth.

In addition, you would be supporting a company that is committed to environmental sustainability. Interface was one of the first companies to sign the United Nations Global Compact, and it has been named one of the world’s most ethical companies by Ethisphere Institute for eight consecutive years.