Interface Sales Rose 4.8% in Q3, Earnings Up 28%
Atlanta, GA, November 4, 2022-Interface reported Q3 2022 net sales of $327.8 million, a 4.8% increase compared to Q3 2021’s $312.7 million.
Net earnings for Q3 2022 were $14.1 million, a 28% increase compared to earnings of $11 million in the same period last year.
For the first nine months of 2022, net sales were $962.4 million, a 12% increase compared to $860.8 million in the first nine months of 2021.
Net earnings for the first nine months of 2022 were $44.2 million, a 32% increase compared to earnings of $33.4 million in the same period last year.
“Interface had another solid quarter with currency neutral net sales growth of 10.9% and adjusted EPS of 30 cents. Demand for our best-in-class lower carbon offerings continues across the business, with notable strength in Q3 in the office and retail sectors," commented Laurel Hurd, CEO of Interface. "In the back half, we are lapping tougher comps as we saw pent up COVID demand that was released in Q3 and Q4 of 2021. Even with currency neutral orders down 4% in Q3 this year, we enter Q4 encouraged about order rates and with a strong backlog that is up 7% since the beginning of the year. I'm proud of the entire global team for consistently controlling costs and managing our SG&A to deliver strong results.”