Modular flooring manufacturer Interface (NASDAQ:TILE) will be reporting earnings this Friday before the bell. Here’s what investors should know.
Interface beat analysts’ revenue expectations by 4.6% last quarter, reporting revenues of $375.5 million, up 8.3% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Is Interface a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Interface’s revenue to grow 3.8% year on year to $357.3 million, slowing from the 10.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.48 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Interface has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Interface’s peers in the office & commercial furniture segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Steelcase delivered year-on-year revenue growth of 4.8%, beating analysts’ expectations by 2.7%, and MillerKnoll reported revenues up 10.9%, topping estimates by 4.9%. Steelcase’s stock price was unchanged after the resultswhile MillerKnoll was down 10.4%.
Read our full analysis of Steelcase’s results here and MillerKnoll’s results here.
Investors in the office & commercial furniture segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. Interface is down 8.2% during the same time and is heading into earnings with an average analyst price target of $32.67 (compared to the current share price of $26.57).
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