Interface Q1 net sales $295.8M (+2.7%); GAAP loss $0.01 EPS; cuts FY23 guidance on macro uncertainty

INTERFACE INC

2023-Q1 EPS reported -$0.01 revenue$295,792,000

Net sales $295.8M (+2.7% YoY, +5.2% currency neutral); GAAP net loss $0.7M vs income $13.3M a year ago.
Adjusted EPS $0.07 vs $0.28 prior year; adjusted EBITDA $26.3M down from $42.9M.
FY23 guidance revised: net sales growth 0-3% (prior 1-5%); adj. gross margin 33-34% (prior ~35%).
Americas sales +8.1%; EAAA -3.8% on FX; China orders weak; exit of Russia business.
Generated $29.6M cash from ops, repaid $19.2M debt; cash $101.3M, debt $501.1M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTERFACE INC reported first quarter ended April 2, 2023 results: revenue $295.8 million, net income net loss of $0.7 million, EPS $0.01 per diluted share. Guidance reaffirmed.

Period: first quarter ended April 2, 2023
Revenue: $295.8 million
Net income: net loss of $0.7 million
EPS: $0.01 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

solutions company where everything is certified carbon neutral, today announced results for the first quarter ended April 2, 2023. First quarter highlights: • Net sales totaled $295.8 million, up 2.7% year-over-year. Currency neutral net sales were up 5.2% year-over-year. • GAAP loss per share of $0.01; Adjusted earnings per share of $0.07 . • Strong year-over-year

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Source: SEC EDGAR

accession 0000715787-23-000022

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