Interface (TILE) Tops Q2 EPS by 21c, Revenues Beat

Interface (NASDAQ: TILE) reported Q2 EPS of $0.27, $0.21 better than the analyst estimate of $0.06. Revenue for the quarter came in at $260 million versus the consensus estimate of $251.7 million.

Outlook

Given the continued disruption of the global economy due to COVID-19, and the significant level of uncertainty created by the global pandemic, Interface is not providing fiscal year 2020 guidance.

The company has implemented several cost reducing initiatives to align with reduced customer demand and anticipates full year 2020 adjusted SG&A expenses of approximately $320 million. In addition, the company has moderated its capital spending plans and currently anticipates capital expenditures of $45 - $50 million for the full year 2020.

For earnings history and earnings-related data on Interface (TILE) click here.

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