Interface Q1 Net Sales Down 2% YOY, Income Up Substantially

Atlanta, GA, May 3, 2024-Interface reported net sales of $289.7 million for Q1 2024, down 2% from $295.8 in Q1 2023.

Net income for Q1 2024 was $14.2 million, compared to a net loss of $714,000 in Q1 2023.

"We delivered a strong start to the year. First quarter net sales came in at the high end of our guidance with notable strength in the Americas business. Our One Interface strategy is yielding tangible results including reduced complexity, continuous improvement of pricing and mix management, and synergies from the globalization of our core functions. These improvements contributed to significant profitability expansion in the first quarter,” commented Laurel Hurd, CEO of Interface.

According to Guru Focus, "Interface's operational success was mirrored in its segment performance. The Americas (AMS) segment saw a slight increase in sales, while orders surged by 6.8%. Conversely, the EMEA and Asia segments experienced a sales dip, although orders in Asia notably jumped by 14.9%. This mixed geographical performance illustrates the dynamic challenges Interface faces across different markets."