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Oct 03, 2021
Interface Q3 2021 Earnings Report
Reported solid results with sales growth and debt reduction.
Key Takeaways
Interface, Inc. reported a 12% increase in net sales to $313 million and GAAP earnings per share of $0.19 for the third quarter ended October 3, 2021. The company also reduced its debt by $30 million and saw a 24% increase in orders compared to the same quarter last year.
Q3 2021 orders increased 24% year over year compared to Q3 2020.
Net sales totaled $313 million, up 12% year over year compared to Q3 2020.
Q3 2021 GAAP earnings per share of $0.19; Q3 2021 adjusted earnings per share of $0.29.
Debt paydown continues to be strong with $30 million of debt repaid in the third quarter.
Forward Guidance
The Company is anticipating net sales in the fourth quarter of 2021 of $320 million to $330 million and adjusted gross profit percentage in the fourth quarter of 2021 of approximately 35.5% to 36.5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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