Interface, Inc. reported a consolidated net sales increase of 4.3% for the fiscal year 2024, reaching $1.316 billion compared to $1.261 billion in 2023. The company's operating income also rose significantly to $134.4 million, up from $104.5 million in the previous year, driven by higher sales volumes and lower raw material costs. Net income for 2024 was $86.9 million, or $1.48 per diluted share, compared to $44.5 million, or $0.76 per diluted share, in 2023. This performance reflects a recovery from the previous year's challenges, including a non-recurring goodwill impairment charge of $36.2 million in 2022.
The company operates through two reportable segments: Americas (AMS) and Europe, Africa, Asia, and Australia (EAAA). In 2024, the AMS segment accounted for 61% of total net sales, up from 58% in 2023, while the EAAA segment decreased to 39% from 42%. The AMS segment saw a notable sales increase of 8.7%, primarily in the retail and education markets, while the EAAA segment experienced a decline of 1.8%, attributed to lower sales volumes in public buildings and hospitality sectors. The overall customer base remains diverse, with no single customer accounting for more than 10% of total sales.
Strategically, Interface has focused on enhancing its product offerings and sustainability initiatives. The company launched new products, including the carbon-negative nora rubber flooring prototype in January 2025, and continued to expand its modular resilient flooring business. The company’s sustainability goals include reducing CO2 emissions by 50% by 2030 and achieving carbon negativity by 2040. As of December 29, 2024, Interface employed 3,636 individuals, reflecting a commitment to maintaining a skilled workforce to support its growth strategies.
Looking ahead, Interface anticipates continued challenges from macroeconomic factors such as inflation, high interest rates, and geopolitical tensions, which may impact demand for its products. The company expects to see higher production volumes and lower per-unit fixed costs in 2025, which should benefit gross profit margins. However, ongoing supply chain issues may lead to increased freight costs, particularly in the first half of the year. The company’s backlog of unshipped orders stood at approximately $223.4 million as of February 2, 2025, indicating a solid pipeline for future revenue generation.
About INTERFACE INC
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