Interface Q2 Net Sales Up 5.2%, Earnings Up 4.3%

Atlanta, GA, August 5, 2024-Interface has reported that Q2 2024 net sales were $346.6 million, up 5.2% versus $329.6 million in the prior year period.

The company recorded Q2 2024 net income of $22.6 million, compared Q2 2023 net income of $15.8 million, a 4.3% increase.

Net sales for the first six months of 2024 were $636.4 million, up 1.8% versus $625.4 million in the prior year period.

The company recorded net income of $36.7 million in the first half of 2024 compared to first half 2023 net income of $15.1 million, a 243% increase. 

"Our growth and profitability expansion in the second quarter demonstrates the successful execution of our One Interface strategy. Growth in the quarter was primarily driven by continued strength from our Americas business as net sales increased 7% and orders were up 15% on a currency neutral basis. We are proactively driving growth in Education which remains a prominent market segment with global billings up 13% year-over-year. Based on industry trends, we gained market share in Corporate Office, with global billings up 4% year-over-year," commented Laurel Hurd, CEO of Interface.

“Strong commercial execution led to an 8% increase in consolidated currency neutral orders in the second quarter, and our backlog increased by 33% since the beginning of 2024, positioning us for strong year-over-year growth in the second half of the year. As a global organization, we are focused on strategically leveraging our strengths to accelerate growth and create value for our shareholders,” concluded Hurd.

“We continue to drive margin expansion through increased volume and higher selling prices while benefiting from overall input cost deflation, which expanded gross profit margin in the second quarter. We also continue to pay down debt and strengthen the balance sheet while investing in the business,” added Bruce Hausmann, CFO of Interface.

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