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
Sector
Industry (SIC)
Mohawk Industries • Dixie ...
SEC CIK
Corporate docs
IRS number
581451243
TILE stock data
()
Press releases
BlueLinx Announces CEO Succession
21 Apr 21
Interface, Inc. To Broadcast First Quarter 2021 Results Conference Call Over the Internet
8 Apr 21
Interface Declares Regular Quarterly Dividend
16 Mar 21
Interface Reports Fourth Quarter 2020 Results
2 Mar 21
Interface, Inc. Investors Who Have Held Their Stock Since 2018 Encouraged To Contact Kehoe Law Firm, P.C.
10 Feb 21
Calendar
3 Mar 21
22 Apr 21
3 Jan 22
Financial summary
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Financial data from Interface earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 103.05M | 103.05M | 103.05M | 103.05M | 103.05M | 103.05M |
Cash burn (monthly) | 222K | (positive/no burn) | (positive/no burn) | 3.27M | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 809.6K | n/a | n/a | 11.94M | n/a | n/a |
Cash remaining | 102.24M | n/a | n/a | 91.11M | n/a | n/a |
Runway (months of cash) | 460.6 | n/a | n/a | 27.8 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
16 Mar 21 | James Poppens | Common Stock | Grant | Aquire A | No | No | 0 | 23,585 | 0 | 30,981 |
16 Mar 21 | Stansfield Nigel | Common Stock | Grant | Aquire A | No | No | 0 | 39,280 | 0 | 110,273 |
16 Mar 21 | Bruce Andrew Hausmann | Common Stock | Grant | Aquire A | No | No | 0 | 40,197 | 0 | 136,057 |
16 Mar 21 | David B Foshee | Common Stock | Grant | Aquire A | No | No | 0 | 28,957 | 0 | 120,475 |
16 Mar 21 | Robert Pridgen | Common Stock | Grant | Aquire A | No | No | 0 | 4,639 | 0 | 4,639 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
96.7% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 160 |
Opened positions | 30 |
Closed positions | 26 |
Increased positions | 48 |
Reduced positions | 56 |
13F shares |
Current |
---|---|
Total value | 1.26B |
Total shares | 56.7M |
Total puts | 177.7K |
Total calls | 67.3K |
Total put/call ratio | 2.6 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 9.11M | $95.63M |
Vanguard | 5.81M | $61.01M |
Frontier Capital Management | 4.66M | $48.89M |
Frontier Capital Management | 4.66M | $48.89M |
Dimensional Fund Advisors | 2.63M | $27.6M |
Capital World Investors | 2.54M | $26.69M |
STT State Street | 1.84M | $19.36M |
LSV Asset Management | 1.68M | $17.64M |
Deprince Race & Zollo | 1.5M | $15.76M |
MS Morgan Stanley | 1.28M | $13.47M |
Financial report summary
?Competition
Armstrong FlooringRisks
- 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 fiscal year 2020, our net sales decreased $239.8 million (17.9%) compared to 2019. As discussed above, the decrease was primarily due to the impacts of COVID-19 resulting in lower sales volumes globally. Fluctuations in currency exchange rates had a positive impact on our year-over-year sales comparison of approximately $7.1 million, meaning that if currency levels had remained constant year over year our 2020 sales would have been lower by this amount. On a geographic basis, we experienced sales declines across all our regions. Sales in the Americas were down 21.6%, sales in Europe were down 10.7% as reported in U.S. dollars, and sales in our Asia-Pacific region were down 17.7%.
- The sales decrease of 21.6% in the Americas in 2020 was due primarily to the impacts of COVID-19 and lower carpet tile sales volumes. On a market segment basis, the sales decrease in the Americas was most significant in the corporate office (down 33.8%), retail (down 34.8%), healthcare (down 15.2%) and education (down 8.3%) market segments, partially offset by increases in the residential living (up 23.8%) and public buildings (up 8.2%) market segments.
- In Europe, net sales in the region decreased both in U.S. dollars (down 10.7%) and local currency (down 12.5%). The decrease in sales was due primarily to the impacts of COVID-19 and lower carpet tile sales volumes, partially offset by the strengthening of the Euro and British pound sterling against the U.S. dollar. On a market segment basis, the sales decrease in Europe was most significant in the corporate office (down 18.0%), hospitality (down 47.5%) and public buildings (down 14.2%) market segments, partially offset by increases in the transportation (up 40.3%), leisure (up 57.1%), healthcare (up 10.5%) and education (up 9.0%) market segments.
Content analysis
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New words:
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Financial reports
10-K
2020 FY
Annual report
3 Mar 21
10-Q
2020 Q3
Quarterly report
9 Nov 20
10-Q
2020 Q2
Quarterly report
11 Aug 20
10-Q
2020 Q1
Quarterly report
12 May 20
10-K
2019 FY
Annual report
26 Feb 20
10-Q
2019 Q3
Quarterly report
7 Nov 19
10-Q
2019 Q2
Quarterly report
8 Aug 19
10-Q
2019 Q1
Quarterly report
10 May 19
10-K
2018 FY
Annual report
28 Feb 19
10-Q
2018 Q3
Quarterly report
9 Nov 18
Current reports
8-K
Regulation FD Disclosure
2 Mar 21
8-K
Interface Reports Fourth Quarter 2020 Results
2 Mar 21
8-K
Regulation FD Disclosure
14 Dec 20
8-K
Regulation FD Disclosure
2 Dec 20
8-K
Departure of Directors or Certain Officers
24 Nov 20
8-K
Entry into a Material Definitive Agreement
17 Nov 20
8-K
Other Events
16 Nov 20
8-K
Interface Announces Proposed Offering of $300 Million of Senior Notes Due 2028
9 Nov 20
8-K
Regulation FD Disclosure
6 Nov 20
8-K
Interface Reports Third Quarter 2020 Results
6 Nov 20
Registration and prospectus
S-8
Registration of securities for employees
28 Aug 20
S-8
Registration of securities for employees
29 Jul 15
S-4/A
Registration of securities issued in business combination transactions (amended)
22 Mar 11
S-4/A
Registration of securities issued in business combination transactions (amended)
9 Mar 11
S-4
Registration of securities issued in business combination transactions
2 Feb 11
S-8
Registration of securities for employees
28 Jul 10
424B3
Prospectus supplement
15 Oct 09
S-4/A
Registration of securities issued in business combination transactions (amended)
12 Oct 09
S-4/A
Registration of securities issued in business combination transactions (amended)
8 Sep 09
S-4
Registration of securities issued in business combination transactions
28 Jul 09
Proxies
DEFA14A
Additional proxy soliciting materials
7 Apr 21
DEF 14A
Definitive proxy
7 Apr 21
DEFA14A
Additional proxy soliciting materials
10 Apr 20
DEF 14A
Definitive proxy
10 Apr 20
DEFA14A
Additional proxy soliciting materials
2 Apr 19
DEF 14A
Definitive proxy
2 Apr 19
DEFA14A
Additional proxy soliciting materials
2 May 18
DEF 14A
Definitive proxy
2 Apr 18
DEFA14A
Additional proxy soliciting materials
2 Apr 18
DEF 14A
Definitive proxy
3 Apr 17
Other
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
12 May 20
UPLOAD
Letter from SEC
14 Oct 18
UPLOAD
Letter from SEC
21 Nov 17
CORRESP
Correspondence with SEC
26 Oct 17
CORRESP
Correspondence with SEC
18 Oct 17
UPLOAD
Letter from SEC
4 Oct 17
CORRESP
Correspondence with SEC
11 Sep 17
UPLOAD
Letter from SEC
27 Aug 17
UPLOAD
Letter from SEC
12 Jul 16
CORRESP
Correspondence with SEC
7 Jul 16
Ownership
4
INTERFACE / DANIEL T HENDRIX ownership change
18 Mar 21
4
INTERFACE / Robert Pridgen ownership change
18 Mar 21
4
INTERFACE / James Poppens ownership change
18 Mar 21
4
INTERFACE / Stansfield Nigel ownership change
18 Mar 21
4
INTERFACE / Bruce Andrew Hausmann ownership change
18 Mar 21
4
INTERFACE / David B Foshee ownership change
18 Mar 21
4/A
INTERFACE / Bruce Andrew Hausmann ownership change
18 Feb 21
4/A
INTERFACE / David B Foshee ownership change
18 Feb 21
SC 13G/A
INTERFACE / FRONTIER CAPITAL MANAGEMENT ownership change
16 Feb 21
SC 13G/A
INTERFACE / VANGUARD ownership change
10 Feb 21
Patents
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.
APP
Utility
Axial Force Pressure Transducer
18 Mar 20
A system and method configured to measure applied force and pressure on a load cell.
APP
Utility
Digital Printing for Flooring and Decorative Structures
4 Mar 20
Certain aspects and features relate to using an image modifier to generate digital designs and to printing the digital designs on a structure for flooring or other decoration that can more realistically mimic designs found in nature or otherwise provide designers with the freedom to create aesthetic designs more easily.
Transcripts
2020 Q4
Earnings call transcript
2 Mar 21
2020 Q3
Earnings call transcript
8 Nov 20
2020 Q3
Earnings call transcript
6 Nov 20
2020 Q2
Earnings call transcript
7 Aug 20
2020 Q1
Earnings call transcript
8 May 20
2019 Q4
Earnings call transcript
26 Feb 20
2019 Q3
Earnings call transcript
25 Oct 19
2019 Q2
Earnings call transcript
27 Jul 19
2019 Q1
Earnings call transcript
28 Apr 19
2018 Q4
Earnings call transcript
20 Feb 19
Reddit threads
Daily Discussion Thread - March 31st, 2021
31 Mar 21
Daily Discussion Thread - March 30th, 2021
30 Mar 21
Daily Discussion Thread - March 29th, 2021
29 Mar 21
Daily Discussion Thread - March 2nd, 2021
2 Mar 21
Daily Discussion Thread - March 1st, 2021
1 Mar 21
Daily Discussion Thread - December 3rd, 2020
3 Dec 20
Daily Discussion Thread - December 2nd, 2020
2 Dec 20
Daily Discussion Thread - December 1st, 2020
1 Dec 20
Daily Discussion Thread - November 30th, 2020
30 Nov 20
Daily Discussion Thread - November 6th, 2020
6 Nov 20