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Interface Inc Up 9.77% To $14.60 After Earnings Beat

Tuesday, February 27, 2024 12:48 PM | InvestorsObserver Analysts

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Interface Inc Up 9.77% To $14.60 After Earnings Beat

Interface Inc (TILE) said before open Tuesday that it earned $0.41 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $325.1 million, beating estimates by $3.3 million.

In the same quarter a year ago, the company earned $0.31 per share on revenue of $335.6 million.

The stock is up 9.77% to $14.60 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Interface Inc a Bullish Sentiment Rank from InvestorsObserver.

Interface Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 75, putting Interface Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $13.78 on February 15, 2024 and set a 52-week low on May 16, 2023 at $6.51.

Interface Inc is engaged in the designing, production, and sale of carpet tile. It also provides Luxury Vinyl tiles and rubber flooring. The company mainly targets corporate and noncorporate office markets, including government, education, healthcare, hospitality, and retailers. Its geographical segments include the Americas, Europe, and Asia-Pacific.

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