Modular flooring manufacturer Interface (NASDAQ: TILE) will be reporting results this Friday before market hours. Here’s what to look for.
Interface met analysts’ revenue expectations last quarter, reporting revenues of $349.4 million, up 4.3% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and revenue guidance for next quarter beating analysts’ expectations.
Is Interface a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Interface’s revenue to grow 7.5% year on year, improving from the 2.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Interface rarely misses Wall Street’s revenue estimates.
Looking at Interface’s peers in the business services & supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. HNI delivered year-on-year revenue growth of 125%, missing analysts’ expectations by 2%, and MillerKnoll reported revenues up 5.8%, falling short of estimates by 1.6%. MillerKnoll traded down 22.4% following the results.
Read our full analysis of HNI’s results here and MillerKnoll’s results here.
There has been positive sentiment among investors in the business services & supplies segment, with share prices up 11.2% on average over the last month. Interface is up 11.5% during the same time and is heading into earnings with an average analyst price target of $36.67 (compared to the current share price of $27.68).
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