Interface stock rises nearly 4% on upbeat outlook after posting strong Q3 results

ATLANTA - Interface , Inc. (NASDAQ:TILE ) reported third quarter earnings that beat analyst expectations and raised its full-year revenue guidance, sending shares up 3.89% in premarket trading Friday.

The commercial flooring company posted adjusted earnings per share of $0.48, surpassing the analyst consensus of $0.34. Revenue for the quarter came in at $344.3 million, slightly above estimates of $343.05 million and up 10.7% year-over-year.

"We delivered another quarter of strong performance, as our One Interface strategy continues to yield tangible results, including double-digit sales growth and significant profitability expansion," said CEO Laurel Hurd.

Interface saw particular strength in its education segment, with billings up 18% compared to last year. The company's corporate office segment also outperformed, with global billings rising 2% year-over-year.

Looking ahead, Interface raised its full-year 2024 revenue outlook to between $1.315 billion and $1.325 billion, above the previous analyst consensus of $1.31 billion. The company cited strong orders and a healthy backlog entering the fourth quarter.

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Source: Investing.com