Interface Reports First Quarter 2020 Results
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Interface (TILE) Tops Q1 EPS by 11c, Revenues Miss; Withdraws FY20 Guidance
May 8, 2020 5:47 AM EDTInterface (NASDAQ: TILE) reported Q1 EPS of $0.32, $0.11 better than the analyst estimate of $0.21. Revenue for the quarter came in at $288 million versus the consensus estimate of $298.12 million.
First Quarter 2020 Financial Summary
Sales: First quarter net sales were $288 million, down 3% versus $298 million in the prior year period. Organic sales were down 2% year-over-year with solid growth in resilient flooring being offset by a decline in carpet tile.Gross profit margin was 39.7% in the first quarter, an increase of 60 basis points from the prior year period. Adjusted gross profit margin was 40.1%, an... More