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Apr 05, 2020
Interface Q1 2020 Earnings Report
Interface reported first quarter results, impacted by COVID-19 and strategic cost management.
Key Takeaways
Interface reported a decrease in net sales by 3% and a GAAP loss per share of $1.75, which includes a $121 million non-cash charge. Adjusted EPS increased to $0.32. The company is focused on managing expenses and liquidity amidst the COVID-19 pandemic.
Net sales decreased by 3% compared to the prior year period.
Organic sales were down 2% year-over-year.
GAAP loss per share was $1.75, including a significant impairment charge.
Adjusted EPS increased to $0.32, driven by cost management.
Forward Guidance
Interface has withdrawn its fiscal year 2020 guidance due to the continued disruption of the global economy and the significant level of uncertainty created by the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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