Interface, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 05:30 am EST
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Interface, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 325.12 million compared to USD 335.56 million a year ago. Net income was USD 19.56 million compared to net loss of USD 24.62 million a year ago. Basic earnings per share from continuing operations was USD 0.34 compared to basic loss per share from continuing operations of USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to diluted loss per share from continuing operations of USD 0.42 a year ago.
For the full year, sales was USD 1,261.5 million compared to USD 1,297.92 million a year ago. Net income was USD 44.52 million compared to USD 19.56 million a year ago. Basic earnings per share from continuing operations was USD 0.77 compared to USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 0.76 compared to USD 0.33 a year ago.
Interface, Inc. is a global flooring company. The Company is specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT), vinyl sheets, and nora rubber flooring. Its segments include Americas (AMS) and Europe, Africa, Asia and Australia (EAAA). The AMS segment includes the United States, Canada and Latin America geographic areas. It markets modular carpet under the brand names Interface and FLOR. It produces carpet tiles in a range of colors, patterns, textures, pile heights and densities. These varieties are designed to meet both the practical and aesthetic needs of commercial interiors. The Company offers a category of products, namely modular resilient flooring, and its product include LVT. It offers rubber flooring products under the noraplan and norament brands, which include in its resilient flooring portfolio. The Company also produces and sells a specially adapted version of carpet tile for the healthcare facilities market.