Interface Shares Rise Nearly 4% Following Strong Q3 Results

ATLANTA - Interface, Inc. (NASDAQ:TILE) reported third-quarter earnings that exceeded analyst expectations and raised its full-year revenue forecast. Following this development, the company's shares rose by 3.89% in pre-market trading on Friday.
The commercial flooring company reported adjusted earnings per share of $0.48, surpassing the analyst consensus of $0.34. Quarterly revenue stood at $344.3 million, slightly above the estimates of $343.05 million and reflecting a 10.7% increase compared to the same period last year.
CEO Laurel Hurd stated, "As our One Interface strategy continues to deliver tangible results, we have had another strong performance quarter, including double-digit sales growth and significant profitability improvement."
Interface particularly excelled in the education segment, with billings in this area rising by 18% year-over-year. The corporate office segment also performed well, with global billings increasing by 2% annually.
Looking ahead, Interface raised its full-year revenue forecast for 2024 to between $1.315 billion and $1.325 billion. This figure exceeds the previous analyst consensus of $1.31 billion. The company attributed this revision to strong orders and entering the fourth quarter with a healthy order book.