Interface Q3 Sales Up 10.7%, Earnings Up 190%

Atlanta, GA, November 1, 2024-Interface reported Q3 net sales were $344.3 million, up 10.7% compared to $311 million.

Net earnings for Q3 were $28.4 million, a 190% increase compared to $9.9 million in the same period last year.

For the first nine months of 2024, net sales were $980.6 million, a 4.7% increase compared to $936.4 million in the same period last year.

Net earnings for the first nine months of 2024 were $65.2 million, a 161% increase compared to Q3 2023’s $25 million.

“We delivered another quarter of strong performance, as our One Interface strategy continues to yield tangible results, including double-digit sales growth and significant profitability expansion. Education billings were up 18% year-over-year in the third quarter. In the Corporate Office segment, our global billings were up 2% year-over-year, outpacing overall industry trends and demonstrating that we are gaining market share. As expected, Retail billings increased in the third quarter compared to soft activity in the prior year,” commented Laurel Hurd, CEO of Interface.

“Effective commercial execution drove double-digit growth in currency-neutral orders in the third quarter. Currency-neutral orders in the Americas were up 17% with growth across all product categories, highlighting the effectiveness of our combined nora and Interface selling teams in the U.S. Currency-neutral orders in EAAA were flat, with increased activity in Asia offset by softness in Australia. Our ability to adapt globally in a dynamic market has enabled us to consistently deliver strong results, gain market share, and grow our business,” concluded Hurd.