Core Insights - Meros Investment Management sold 259,973 shares of Interface, reducing its position by approximately $4.1 million in the third quarter, leaving a remaining stake of 166,576 shares valued at $4.8 million as of September 30 [2][3][7] - The sale decreased Interface's representation in Meros's reportable assets under management (AUM) to 2.1%, down from 4.24% in the previous quarter [4] - Interface's stock price was $27.32, reflecting a 5% increase over the past year, but underperforming compared to the S&P 500, which rose 13% in the same period [4] Company Overview - Interface, Inc. has a market capitalization of $1.6 billion, with a trailing twelve months (TTM) revenue of $1.4 billion and a net income of $113 million [5] - The company specializes in modular flooring products, including carpet tiles, resilient flooring, and luxury vinyl tiles, serving both commercial and residential markets [6][9] Recent Performance - In the third quarter, Interface reported net sales of $364.5 million, a 5.9% increase year-over-year, and a GAAP EPS of $0.78, which is a 62.5% increase from the previous year [10] - Management raised full-year sales guidance to nearly $1.38 to $1.39 billion, indicating confidence in future performance [10] - The company generated $76.7 million in cash during the third quarter, highlighting strong cash flow and operational momentum [11] Sales Channels - Interface generates revenue through direct sales to end-users, indirect sales via contractors and distributors, and online channels, complemented by project management and maintenance services [12]

Core Insights - Meros Investment Management sold 259,973 shares of Interface, reducing its stake by approximately $4.1 million, leaving a remaining position of 166,576 shares valued at $4.8 million at quarter-end [2][3] Company Performance - Interface reported a 5.9% increase in net sales to $364.5 million for the third quarter, with GAAP EPS rising 62.5% year-over-year to $0.78 and adjusted EPS increasing by 27% to $0.61 [9] - The company raised its full-year sales guidance to nearly $1.38 to $1.39 billion, indicating improved operational performance and higher adjusted gross margins [9] Market Position - As of the latest filing, Interface's shares were priced at $27.32, reflecting a 5% increase over the past year, although this performance lags behind the S&P 500, which rose by 13% in the same period [3] - Interface's market capitalization stands at $1.6 billion, with a trailing twelve-month (TTM) revenue of $1.4 billion and a TTM net income of $113 million [4] Business Overview - Interface is a modular flooring company with a diverse product portfolio, including modular carpet tiles, resilient flooring, and luxury vinyl tile, serving both commercial and residential markets globally [6][8] - The company generates revenue through direct sales to end-users, indirect sales via contractors and distributors, and online channels, complemented by project management and maintenance services [8]