Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
INTERFACE INC reported first quarter ended March 31, 2024 results: revenue $289.7 million, net income $14.2 million, EPS $0.24 per diluted share. Guidance raised.
- Period
- first quarter ended March 31, 2024
- Revenue
- $289.7 million
- Net income
- $14.2 million
- EPS
- $0.24 per diluted share
- Guidance
- raised
- Result
- reported results
Exact text from the filing
First quarter net sales were $289.7 million, down 2.0% versus $295.8 million in the prior year period. Gross profit margin was 38.1% in the first quarter of 2024, an increase of 569 basis points from the prior year period. Adjusted gross profit margin was 38.6%, an increase of 528 basis points from adjusted gross profit margin for the prior year period due primarily to input cost deflation, higher selling prices and favorable product mix. 1 First quarter SG&A expenses were $86.0 million, or 29.7% of net sales, compared to $86.3 million, or 29.2% of net sales in the first quarter of 2023. Adjusted SG&A expenses were $86.2 million, or 29.7% of net sales, in the first quarter of 2024, compared to $83.2 million, or 28.1% of net sales, in the first quarter of 2023. Operating Income: First quarter 2024 operating income was $24.4 million, compared to operating income of $9.5 million in the prior year period. First quarter 2024 adjusted operating income ("AOI") was $25.5 million versus AOI of
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