secwatch.observer — SEC 8-K summary
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Issuer:     INTERFACE INC (TILE)
CIK:        0000715787
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0000715787-23-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/715787/000071578723000030/0000715787-23-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/715787/000071578723000030/tile-20230804.htm
  HTML page:      https://secwatch.observer/filing/0000715787-23-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer