Interface Inc ( (TILE) ) has released its Q4 earnings. Here is a breakdown of the information Interface Inc presented to its investors.
Interface Inc., a global leader in commercial flooring and sustainability, offers a comprehensive range of carpet tile and resilient flooring products, including Interface® carpet tile and LVT, nora® rubber flooring, and FLOR® premium area rugs for both commercial and residential spaces. The company is renowned for its commitment to sustainable innovation and aims to become a carbon-negative enterprise by 2040.
Interface Inc. reported strong financial results for the fourth quarter and full year of 2024, driven by the successful implementation of its One Interface strategy. The company achieved a 4.3% increase in net sales year-over-year, reaching $1,316 million, and nearly doubled its GAAP earnings per diluted share to $1.48 for the fiscal year.
Key financial highlights include a 3% year-over-year increase in fourth-quarter net sales to $335 million and a significant reduction in total debt by 27.4% to $302.8 million. The company also reported a 174 basis point expansion in gross profit margins for the fiscal year, attributed to higher volumes, favorable mix, and lower input costs. The Americas region showed strong performance with a 9.3% increase in net sales, while the EAAA region experienced a slight decline.
Looking ahead, Interface Inc. enters 2025 with a robust backlog and anticipates customary seasonality, with expectations of a lighter first quarter followed by stronger performance in the second and third quarters. The company projects net sales between $1.315 billion and $1.365 billion for the full fiscal year 2025, with an adjusted gross profit margin ranging from 37.2% to 37.4% of net sales.