Interface Q2 net sales down 4.9% YoY; GAAP EPS $0.27, adj EPS $0.25, guidance tempered

INTERFACE INC

2023-Q2 EPS reported $0.26 revenue$625,374,000

Q2 net sales $329.6M (-4.9% YoY); GAAP EPS $0.27 vs $0.28; adj EPS $0.25 vs $0.36.
Adj gross margin 33.9% (down 39 bps); AOI $27.9M vs $38.5M; SG&A rose as % of sales.
Generated $18.3M cash from ops; repaid $25.9M debt; total debt $475.6M, cash $92.9M.
FY 2023 guidance: net sales $1.285-$1.310B; adj gross margin 34.0-34.5%; capex ~$32M.
AMS segment sales -2.7%; EAAA -8.2% (Asia recovery slow); backlog up $23M YTD.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

INTERFACE INC reported second quarter ended July 2, 2023 results: revenue $329.6 million, net income $15.8 million, EPS $0.27 per diluted share.

Period: second quarter ended July 2, 2023
Revenue: $329.6 million
Net income: $15.8 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

flooring company and global leader in sustainability, today announced results for the second quarter ended July 2, 2023. Second quarter highlights: • Net sales totaled $329.6 million , down 4.9% year-over-year. Currency neutral net sales were down 4.7% year-over-year. • GAAP earnings p er share of $0.27; Adjusted earnings per share of $0.25 . • Generated

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INTERFACE INC filing history →

Source: SEC EDGAR

accession 0000715787-23-000030

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