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TILE Interface

Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. Interface helps its customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. With its mission, Climate Take Back™, Interface commits to operating in a way that is restorative to the planet and creates a climate fit for life.

Company profile

Ticker
TILE
Exchange
CEO
Daniel Hendrix
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
581451243

TILE stock data

(
)

Calendar

11 May 21
3 Aug 21
3 Jan 22
Quarter (USD)
Apr 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Interface earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 May 21 Burke John Patrick Common Stock Grant Aquire A No No 0 7,547 0 50,053
18 May 21 Keough Joseph Common Stock Grant Aquire A No No 0 7,547 0 27,020
18 May 21 Kennedy Christopher G Common Stock Grant Aquire A No No 0 7,547 0 159,776
18 May 21 Kilbane Catherine M Common Stock Grant Aquire A No No 0 7,547 0 30,570
18 May 21 Kohler K David Common Stock Grant Aquire A No No 0 7,547 0 76,053

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

96.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 156 161 -3.1%
Opened positions 20 31 -35.5%
Closed positions 25 26 -3.8%
Increased positions 42 48 -12.5%
Reduced positions 62 56 +10.7%
13F shares
Current Prev Q Change
Total value 1.04B 1.26B -18.1%
Total shares 56.75M 56.71M +0.1%
Total puts 134.3K 177.7K -24.4%
Total calls 151.5K 67.3K +125.1%
Total put/call ratio 0.9 2.6 -66.4%
Largest owners
Shares Value Change
BLK Blackrock 9.63M $120.16M +5.7%
Vanguard 6.04M $75.37M +3.9%
Frontier Capital Management 4.66M $48.89M 0.0%
Frontier Capital Management 4.53M $56.58M -2.6%
Capital World Investors 2.62M $32.69M +3.0%
Dimensional Fund Advisors 2.57M $32.03M -2.4%
STT State Street 1.89M $23.61M +2.5%
LSV Asset Management 1.55M $19.3M -8.0%
Deprince Race & Zollo 1.43M $17.88M -4.5%
Geode Capital Management 983.54K $12.27M +7.8%
Largest transactions
Shares Bought/sold Change
Wellington Management 948.72K +948.72K NEW
IVZ Invesco 945.85K +677.36K +252.3%
Canada Pension Plan Investment Board 0 -529.9K EXIT
BLK Blackrock 9.63M +520.18K +5.7%
Healthcare Of Ontario Pension Plan Trust Fund 11.9K -496.2K -97.7%
MS Morgan Stanley 820.9K -462.39K -36.0%
Arrowstreet Capital, Limited Partnership 80.51K -326.55K -80.2%
Reynders McVeigh Capital Management 319.2K +319.2K NEW
D. E. Shaw & Co. 426.17K -269.85K -38.8%
Royce & Associates 858.8K +239.13K +38.6%

Financial report summary

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Competition
Armstrong Flooring
Risks
  • The COVID-19 pandemic could have a material adverse effect on our ability to operate, our ability to keep employees safe from the pandemic, our results of operations, financial condition, liquidity, capital investments, our near term and long term ability to stay in compliance with debt covenants under our Syndicated Credit Facility and Senior Notes, our ability to refinance our existing indebtedness, and our ability to obtain financing in capital markets.
  • Sales of our principal products have been and may continue to be affected by the COVID-19 pandemic, adverse economic cycles, and effects in the new construction market and renovation market.
  • Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicate a material impairment of those assets.
  • Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including by restrictive taxation or other government regulation and by foreign currency fluctuations.
  • We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt.
  • Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness.
  • We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness.
  • Unanticipated termination or interruption of any of our arrangements with our primary third party suppliers of synthetic fiber or our sole third party supplier for luxury vinyl tile (“LVT”) could have a material adverse effect on us.
  • If we fail to realize the expected synergies and other benefits of the nora acquisition, our results of operations and stock price may be negatively affected.
  • The market price of our common stock has been volatile and the value of your investment may decline.
  • Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations.
  • Our business operations could suffer significant losses from natural disasters, catastrophes, fire, pandemics or other unexpected events.
  • We face risks associated with litigation and claims.
Management Discussion
  • For the quarter ended April 4, 2021, consolidated net sales decreased $34.9 million (12.1%) versus the comparable period in 2020, net of positive currency fluctuations of approximately $11.8 million (4.1%). The sales decline was primarily due to the impact of the COVID-19 pandemic as discussed above. Currency fluctuations had a positive impact on first quarter 2021 sales compared to the first quarter of 2020 mostly due to the strengthening of the Euro, British Pound sterling and Australian dollar against the U.S. dollar.
  • For the quarter ended April 4, 2021, consolidated cost of sales decreased $16.6 million (9.6%) compared to the first quarter of 2020, primarily due to lower net sales and the negative impact of currency fluctuations of approximately $7.6 million (4.3%) on the year-over-year comparison. As a percentage of net sales, our cost of sales increased to 62.1% for the first quarter of 2021 versus 60.3% for the first quarter of 2020, primarily due to changes in fixed cost absorption driven by lower production volumes due to the impact of COVID-19.
  • For the quarter ended April 4, 2021, consolidated selling, general and administrative (“SG&A”) expenses decreased $8.4 million (9.6%) versus the comparable period in 2020. Currency translation had a $2.8 million (3.2%) negative impact on the year-over-year comparison. SG&A expenses were lower for the first quarter of 2021 primarily due to (1) lower selling expenses of $8.9 million due to lower net sales, and (2) lower marketing expenses of $1.3 million due to fewer marketing initiatives. These decreases were partially offset by higher performance-based compensation of $2.4 million as these costs were lower in the prior year due to the impacts of COVID-19. As a percentage of sales, SG&A expenses increased to 31.3% for the first quarter of 2021 versus 30.4% for the first quarter of 2020. 
Content analysis
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H.S. junior Avg
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Removed: accrual, accrue, active, adjustment, aggregated, Aid, amendment, arrangement, assigned, benchmark, capitalize, capitalized, capitalizing, China, classification, Cloud, Codification, collected, comparative, Computing, consent, continuing, country, Craigavon, curtailment, deferral, delayed, depreciation, development, disclose, disruption, distribute, downturn, Dutch, eliminate, elimination, enhance, entered, environment, equal, essentially, exceeded, existed, existence, expanding, fluctuated, forward, fund, funding, hosting, implementation, incentive, incurred, inherent, intercompany, July, key, Kingdom, law, leisure, light, longer, matching, measurement, meeting, methodology, modified, negligible, newly, NSP, obsolete, participate, past, payroll, performing, phase, post, preliminary, premium, preparing, principal, proceeded, prospective, protection, pursue, qualify, qualitative, ranged, receipt, recognize, redeployed, regulatory, relevant, relief, requirement, retained, retaining, retrospective, salary, Security, selected, software, step, strategic, substantially, support, suspended, technology, test, testing, type, UK, underutilized, unfavorable, unobservable, unrealized, valuation, variety, weakening, yielding

Patents

GRANT
Reissue
Border, edge or pattern carpet tile design, manufacture and installation
4 May 21
Design and manufacture of tufted articles, carpet tile webs and carpet tiles, and installation of carpet tiles, having different color, pile height, pile texture or other characteristics that, together with similar other such tiles, may be installed to create borders, edges or other multiple-tile designs, usually without any of the tiles looking out of place or improperly oriented relative to nap or the direction the tile is “facing.”
GRANT
Utility
Axial force pressure transducer
4 May 21
A system and method configured to measure applied force and pressure on a load cell.
APP
Utility
Surface Coverings Including Carbon Sequestering Materials and Methods of Making
18 Mar 21
Floor coverings, such as modular panels or tiles, for installation on interior surfaces include one or more layers, for example, an upper wear layer and a backing layer, where at least one layer includes a filler that includes a carbon negative material, such as concentrated carbon.
GRANT
Utility
Surface coverings including carbon sequestering materials and methods of making
16 Feb 21
Floor coverings, such as modular panels or tiles, for installation on interior surfaces include an upper wear layer and a backing layer, where the backing layer includes a filler that includes concentrated carbon.
APP
Utility
Surface Coverings Including Carbon Sequestering Materials and Methods of Making
8 Jul 20
Floor coverings, such as modular panels or tiles, for installation on interior surfaces include an upper wear layer and a backing layer, where the backing layer includes a filler that includes concentrated carbon.