Modular flooring manufacturer Interface (NASDAQ: TILE) will be reporting earnings this Friday before the bell. Here’s what to look for.
Interface beat analysts’ revenue expectations last quarter, reporting revenues of $395.7 million, up 5.4% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance meeting 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 3.3% year on year, slowing from the 5.9% 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 will 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 Q3 results, giving us a hint as to what we can expect. HNI delivered year-on-year revenue growth of 133%, missing analysts’ expectations by 0.6%, and MillerKnoll reported a revenue decline of 3.4%, falling short of estimates by 2.1%. HNI traded down 1.2% following the results while MillerKnoll was also down 1.4%.
Read our full analysis of HNI’s results here and MillerKnoll’s results here.
Investors in the business services & supplies segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Interface is up 14.6% during the same time and is heading into earnings with an average analyst price target of $46.25 (compared to the current share price of $40.18).
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