Interface (NASDAQ:TILE) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Interface (NASDAQ:TILEGet Rating) issued its quarterly earnings data on Friday. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04, RTT News reports. The business had revenue of $346.60 million during the quarter, compared to the consensus estimate of $357.70 million. Interface had a net margin of 4.89% and a return on equity of 23.39%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Interface updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

Interface Stock Performance

TILE traded down $0.55 during trading on Monday, hitting $12.55. The stock had a trading volume of 543,909 shares, compared to its average volume of 222,927. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.24 and a current ratio of 2.51. The firm has a market capitalization of $746.01 million, a P/E ratio of 11.84 and a beta of 1.77. The company’s 50-day moving average price is $13.46 and its 200 day moving average price is $13.38. Interface has a twelve month low of $11.87 and a twelve month high of $18.03.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were paid a $0.01 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $0.04 annualized dividend and a yield of 0.32%. Interface’s dividend payout ratio is currently 3.77%.

Institutional Investors Weigh In On Interface

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Interface by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 6,379,991 shares of the textile maker’s stock worth $86,577,000 after buying an additional 24,264 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Interface by 49.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,854,133 shares of the textile maker’s stock worth $61,474,000 after buying an additional 1,270,697 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Interface by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,469,657 shares of the textile maker’s stock worth $33,513,000 after buying an additional 14,962 shares in the last quarter. State Street Corp boosted its position in shares of Interface by 2.5% in the 1st quarter. State Street Corp now owns 2,028,972 shares of the textile maker’s stock worth $27,553,000 after buying an additional 48,654 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Interface by 4.0% in the 1st quarter. Wellington Management Group LLP now owns 1,476,394 shares of the textile maker’s stock worth $20,035,000 after buying an additional 57,309 shares in the last quarter. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

About Interface

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Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR brand names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brand names; and luxury vinyl tile products.

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Earnings History for Interface (NASDAQ:TILE)

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