secwatch.observer — SEC 8-K summary
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Issuer:     INTERFACE INC (TILE)
CIK:        0000715787
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0000715787-23-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Interface Q3 net sales fall 5.1% to $311M, guides FY sales $1.245-1.265B
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- Q3 net sales $311.0M, down 5.1% YoY; gross margin up 226bps to 35.5%.
- GAAP EPS $0.17, adjusted EPS $0.28; adjusted operating income $32.4M vs $31.2M YoY.
- Generated $66.3M cash from ops, repaid $30.6M debt; total debt $444.4M, cash $119.6M.
- Revises FY23 guidance: net sales $1.245-1.265B, adjusted gross margin ~34.4%, capex ~$32M.
- CEO cites retail softness and macroeconomic uncertainty as headwinds; healthcare up 13% YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/715787/000071578723000034/0000715787-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/715787/000071578723000034/tile-20231103.htm
  HTML page:      https://secwatch.observer/filing/0000715787-23-000034

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