Interface(TILE) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 2024 were $344.3 million, an increase of 10.7% year-over-year[2] - GAAP earnings per share for Q3 2024 were$ 0.48, compared to $0.17 in Q3 2023[9] - The company reported a net income of$ 28.4 million for Q3 2024, significantly up from $9.9 million in Q3 2023[9] - Consolidated net sales for the third quarter reached$ 344.3 million, a 10.5% increase from $311.0 million in the same period last year[35] - Net income for the three months ended September 29, 2024, was$ 28,443, compared to $9,879 for the same period in 2023, indicating a significant increase of 187.5%[31] - The company’s diluted EPS for the third quarter was$ 0.48, significantly higher than $0.17 in the same quarter of the previous year, marking a growth of 182.4%[37] Profitability Metrics - Gross profit margin rose to 37.1%, up 162 basis points from the prior year[6] - Adjusted EBITDA for Q3 2024 was$ 53.7 million, compared to $43.7 million in Q3 2023[10] - The gross profit for the third quarter was$ 127.6 million, compared to $110.3 million in the same quarter last year, reflecting a year-over-year increase of 15.6%[39] - The company reported a consolidated AOI of$ 43.5 million for the third quarter, compared to $32.4 million in the same quarter last year, representing a 34.3% increase[35] Operational Efficiency - Operating income for Q3 2024 was$ 42.2 million, up from $31.0 million in the prior year[8] - The company reported a significant increase in operating income for the three months ended September 29, 2024, at$ 42,175, compared to $30,985 for the same period in 2023, a growth of 36.5%[31] - Cash generated from operations in Q3 2024 was$ 76.2 million, with $51.3 million of debt repaid during the quarter[5] - Cash provided by operating activities for the third quarter was$ 76.2 million, up from $66.3 million year-over-year, indicating a growth of 13.5%[34] Sales Growth - Currency-neutral orders in the Americas increased by 17% year-over-year, with double-digit growth across all product categories[4] - Segment AMS net sales for the third quarter were$ 210.2 million, up from $178.2 million, which is a 17.9% increase year-over-year[40] - Net sales for the First AMS Segment reported at$ 595.1 million, up from $548.7 million in the same period last year, representing an increase of 8.5%[41] - Currency-Neutral Net Sales for the consolidated period were$ 981.4 million, up from $936.4 million in the previous year, reflecting a growth of 4.8%[41] Balance Sheet Highlights - Total assets as of September 29, 2024, were$ 1,243,264, compared to $1,230,095 as of December 31, 2023, showing a slight increase of 1.1%[33] - Total liabilities decreased to$ 741,701 as of September 29, 2024, from $804,148 as of December 31, 2023, a reduction of 7.8%[33] - The company’s total shareholders' equity rose to$ 501,563 as of September 29, 2024, compared to $425,947 as of December 31, 2023, reflecting an increase of 17.7%[33] - Total Debt as of September 29, 2024, stood at$ 337.9 million, with Net Debt (Total Debt minus Total Cash) at $222.3 million[47] Future Outlook - For the full fiscal year 2024, the company anticipates net sales between$ 1.315 billion and $1.325 billion[21] - Adjusted gross profit margin for the full year is expected to be approximately 36.6%[21] - The company reported a Total Debt to LTM Net Income ratio of 4.0x, indicating a leverage position that may impact future financial flexibility[47] - The company continues to focus on non-GAAP performance measures to provide a clearer view of operational performance, which may aid in strategic decision-making[48]