secwatch.observer — SEC 8-K summary
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Issuer:     INTERFACE INC (TILE)
CIK:        0000715787
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0000715787-23-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/715787/000071578723000022/0000715787-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/715787/000071578723000022/tile-20230505.htm
  HTML page:      https://secwatch.observer/filing/0000715787-23-000022

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