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Oct 04, 2020
Interface Q3 2020 Earnings Report
Reported third quarter results, showing a decrease in sales but strong liquidity and debt repayment.
Key Takeaways
Interface, Inc. reported a decrease in net sales by 20% compared to the prior year period. However, the company maintained strong liquidity and repaid $43 million of debt during the quarter. The company also launched the world's first carbon negative carpet tile.
Strong liquidity of $378 million at quarter end.
GAAP earnings per share of $0.10; adjusted earnings per share of $0.28.
Cash generated by operating activities of $65 million.
Repaid $43 million of debt during the quarter.
Forward Guidance
Interface expects the fourth quarter to track similarly to the third quarter due to the continued disruption of the global economy due to COVID-19 and the significant level of uncertainty created by the global pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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