TILE
Interface, Inc.28.41
-0.02-0.07%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Noravant sized; margins ahead of schedule
Q&A put numbers on Noravant, pegging $5M-$10M revenue in 2026 and $50M-$100M over five years, building on its prepared remarks launch. Management touted hitting 38.5% adjusted gross margins ahead of schedule, offsetting 50bps tariff headwinds and nonrecurring inventory benefits via global automation rollout. Backlog climbed 7%, broad-based across initiatives. Q4 billings showed health care and education up 11.7% and 11.6%, corporate flat on retail choppiness, but NY/Bay Area rebounding. Tariffs diluted margins 20bps in 2025, eyed cautiously. Confident tone; investors track Noravant traction and cost navigation.
Key Stats
Market Cap
1.66BP/E (TTM)
14.80Basic EPS (TTM)
1.92Dividend Yield
0%Recent Filings
10-K
FY2025 results
Interface delivered FY2025 net sales of $1.39B, up 5.4% y/y, with AMS up 5.4% on healthcare (+21%) and education (+8%) strength while EAAA rose 5.5% via Euro gains and volume. Gross margins expanded to 38.7% from manufacturing efficiencies despite tariffs, driving operating income to $164M (11.8% margin). Q4 accelerated AMS rubber flooring demand; margins progressed steadily. AMS AOI hit 16.3% vs 13.3%. Debt stands at $182M under new facility maturing 2030, with $243M revolver capacity; $18M buybacks executed. Backlog steady at $223M. Tariffs threaten quarterly momentum.
8-K
Record sales, margin expansion
Interface crushed 2025 with record $1.39B sales, up 5.4% (4.3% currency-neutral), and adjusted gross margin hitting 39.0%. Adjusted EPS climbed to $1.94 amid strong cash flow that slashed net debt to $110M (0.5x adj. EBITDA). One Interface strategy drove gains in healthcare and education. Q1 2026 sales eyed at $315-325M. Balance sheet flexes.
8-K
Interface refinances notes with term loan
Interface refinanced its $300M 5.50% notes due 2028 with a $170M term loan drawn at closing, extending maturities to 2030 while trimming the revolver from $300M to $250M. Rates now flex 1.125-2.00% over SOFR based on net leverage, with estimated all-in cost of 5.24% at close. Secured debt now ~$205M; covenants cap leverage at 3.0x and interest coverage at 2.25x.
8-K
Conditional Notes redemption notice
Interface issued a conditional redemption notice on November 18, 2025, for its entire $300,000,000 of 5.50% Senior Notes due 2028, targeting a December 3 close at 100% of principal plus accrued interest. Redemption hinges on securing sufficient net proceeds from a planned term loan facility—commitments in hand, yet no guarantees. Financing may flop.
10-Q
Q3 FY2025 results
Interface posted solid Q3 results ended September 28, 2025, with net sales up 5.9% y/y to $364.5M on higher pricing and volume, especially healthcare and offices; gross margin expanded to 39.4% from 37.1% via efficiencies offsetting tariffs. Operating income rose 26.5% y/y to $53.4M, diluted EPS climbed to $0.78 from $0.48 (reconciles to 59.1M shares), while YTD sales gained 5.8% to $1.0B and EPS hit $1.55. Cash swelled to $187M on $119M operating cash flow (FCF $93M derived), with $310M debt steady at low rates and $295M revolver room. AMS drove gains; EAAA grew 8.8% y/y. Cash builds fast. PFAS suits loom as a regulatory wildcard.
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