Interface (NASDAQ:TILE) Reports Quarterly Earnings, Beats Expectations by $0.04 EPS

Interface (NASDAQ:TILE – Get Rating) released its quarterly results on Friday. The textile maker reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.32 by $0.04, reports RTT News. The company posted revenue of $346.60 million for the quarter, versus analyst estimates of $357.70 million. Interface had a net margin of 4.99% and a return on equity of 22.58%. The company’s quarterly revenue increased 17.6% year over year. In the same period of the previous year, the company had earned earnings per share of $0.30. Interface has updated its full year 2022 guidance to EPS and its third quarter 2022 guidance to EPS.

Interface price performance

Shares of TILE were down $1.36 during Friday trading hours, hitting $13.41. Shares of the company had a trading volume of 7,507 shares, compared to an average volume of 181,570. The interface has a 12-month low of $11.87 and a 12-month high of $18.03 . The company has a fifty-day moving average of $13.53 and a 200-day moving average of $13.40. The stock has a market capitalization of $797.49 million, a price/earnings ratio of 13.00 and a beta of 1.76. The company has a current ratio of 2.37, a quick ratio of 1.08 and a debt ratio of 1.38.

Interface announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Friday, June 3 received a dividend of $0.01. The ex-dividend date was Thursday, June 2. This represents an annualized dividend of $0.04 and a dividend yield of 0.30%. Interface’s dividend payout ratio is currently 3.85%.

Interface Institutional Trade

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Interface by 82.1% during the first quarter. Bank of America Corp DE now owns 105,298 shares of the textile maker worth $1,429,000 after acquiring 47,487 additional shares in the last quarter. Zebra Capital Management LLC acquired a new stake in Interface during the first quarter valued at approximately $174,000. Goldman Sachs Group Inc. increased its position in Interface by 10.8% during the first quarter. Goldman Sachs Group Inc. now owns 90,035 shares of the textile maker worth $1,222,000 after acquiring 8,808 additional shares in the last quarter. Captrust Financial Advisors increased its position in Interface by 228.8% during the first quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker worth $35,000 after acquiring 1,812 additional shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Interface by 4.0% during the first quarter. Wellington Management Group LLP now owns 1,476,394 shares of the textile maker worth $20,035,000 after acquiring an additional 57,309 shares in the last quarter. Institutional investors and hedge funds own 96.30% of the company’s shares.

About Interface

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

Further reading

Revenue History for Interface (NASDAQ: TILE)

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