Modular flooring manufacturer Interface (NASDAQ: TILE) will be reporting results this Friday before the bell. Here’s what to look for.
Interface met analysts’ revenue expectations last quarter, reporting revenues of $297.4 million, up 2.6% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.
Is Interface a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Interface’s revenue to grow 3.6% year on year to $359.1 million, slowing from the 5.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.47 per share.
The majority of analysts covering the company have 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 three times over the last two years.
Looking at Interface’s peers in the office & commercial furniture segment, some have already reported their Q2 results, giving us a hint as to what we can expect. HNI delivered year-on-year revenue growth of 7%, beating analysts’ expectations by 3.2%, and MillerKnoll reported revenues up 8.2%, topping estimates by 5.3%. HNI’s stock price was unchanged after the resultswhile MillerKnoll was up 12.2%.
Read our full analysis of HNI’s results here and MillerKnoll’s results here.
Investors in the office & commercial furniture segment have had steady hands going into earnings, with share prices flat over the last month. Interface is down 3.9% during the same time and is heading into earnings with an average analyst price target of $31.33 (compared to the current share price of $20.64).
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