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Hot Stocks
Interface says has 'experienced near-term disruption' to business » 09:24
03/23/20
03/23
09:24
03/23/20
09:24
TILE

Interface

$6.02 /

-0.05 (-0.82%)

"While this global…

"While this global coronavirus pandemic and everything about it are unprecedented, we have endured severe business downturns in the past. Globally, we are working diligently to support the health and wellbeing of our employees, while also maintaining our operations," said Dan Hendrix, Chairman and CEO, Interface. "Due to our global footprint, we have experienced near-term disruption to our business, and we expect further such disruptions until the pandemic ends. However, despite these short-term headwinds, our business is built to last, and the long-term fundamentals are sturdy. We are confident that we can continue to deliver industry-leading new product innovation that will drive meaningful growth over the long term while bolstering our position as the industry leader in sustainability." Bruce Hausmann, CFO of Interface, added, "Our balance sheet remains very strong today, evidenced by our $80 million of available cash and $244 million of borrowing availability under our revolving credit facility. In addition, our minimum annual required debt payment is $31 million per year, and our syndicated credit facility does not mature until August of 2023. As we continue to navigate through this challenging business environment, we remain committed to prudent management of the company's financial resources and are focused on our stated financial objectives of paying down debt and reinvesting in our business."

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Conference/Events
Interface management to meet with SunTrust » 04:55
03/13/20
03/13
04:55
03/13/20
04:55
TILE

Interface

$8.99 /

-3.2 (-26.25%)

Meeting to be held in…

Meeting to be held in Canada on March 12-13 hosted by SunTrust.

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Conference/Events
Interface management to meet with SunTrust » 04:55
03/12/20
03/12
04:55
03/12/20
04:55
TILE

Interface

$12.19 /

-1.03 (-7.79%)

Meeting to be held in…

Meeting to be held in Canada on March 12-13 hosted by SunTrust.

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Conference/Events
Interface management to meet with SunTrust » 09:10
03/11/20
03/11
09:10
03/11/20
09:10
TILE

Interface

$13.22 /

+0.05 (+0.38%)

Meeting to be held in…

Meeting to be held in Canada on March 12-13 hosted by SunTrust.

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Over a month ago
Upgrade
Interface's valuation, guidance 'more reasonable,' says Raymond James » 08:47
02/27/20
02/27
08:47
02/27/20
08:47
TILE

Interface

$16.16 /

+0.46 (+2.93%)

Raymond James analyst…

Raymond James analyst Samuel Darkatsh upgraded Interface to Market Perform from Underperform. The analyst views the stock's valuation and the company's fiscal 2020 guidance as more reasonable and believes there is a "non-zero chance" that Interface's board entertains monetization overtures given the need for new senior leadership. That said, the analyst notes that Interface has more exposure to coronavirus risks thanmany other names in his building products coverage and adds that distractions from an ongoing SEC investigation as well as recent litigation with the former CEO are "not helpful."

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Upgrade
Interface upgraded to Market Perform from Underperform at Raymond James » 04:51
02/27/20
02/27
04:51
02/27/20
04:51
TILE

Interface

$16.16 /

+0.46 (+2.93%)

Raymond James analyst…

Raymond James analyst Samuel Darkatsh upgraded Interface to Market Perform from Underperform. The analyst views the stock's valuation and the company's fiscal 2020 guidance as more reasonable.

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Earnings
Interface sees FY20 adj. EPS $1.60-$1.70, consensus $1.69 » 05:49
02/26/20
02/26
05:49
02/26/20
05:49
TILE

Interface

$15.70 /

-0.4 (-2.48%)

Sees FY20 revenue up…

Sees FY20 revenue up 2%-4%. Sees FY20 CapEx $50M-$60M.

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Earnings
Interface reports Q4 adj. EPS 46c, consensus 41c » 05:48
02/26/20
02/26
05:48
02/26/20
05:48
TILE

Interface

$15.70 /

-0.4 (-2.48%)

Reports Q4 revenue $339M,…

Reports Q4 revenue $339M, consensus $344.63M. "We ended 2019 with a solid finish, delivering strong operating and financial performance, and executing on our strategic plan. Organic sales grew 2% in the fourth quarter with carpet tile and resilient flooring contributing equally to growth, while adjusted EPS grew 12% through continued gross margin expansion and SG&A optimization," said Dan Hendrix, Chairman and CEO of Interface. "Full year 2019 growth was in-line with our most recent guidance at 2% organic sales growth and 7% adjusted EPS growth, ending the year with $1.3 billion in sales and adjusted EPS of $1.59. We enter 2020 with strong momentum, as our team remains focused on delivering robust new product innovation to capitalize on the expanded market opportunities we have in front of us," Hendrix added. "We also continue to make significant progress on our Climate Take Back(TM) journey. We expect to invest approximately $50 million between 2019 and 2021 in manufacturing innovations. This includes tufting technology that will provide us with new design capability, and a new backing system that should increase our addressable market and further differentiate us in the marketplace. We believe these advancements will have great value for our customers. Our goal is to keep driving increased value to our shareholders by continuing the strategic investments and operational improvements we have made over the past several years."

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Recommendations
Interface named top Building pick into Q4 earnings at Nomura Instinet » 06:25
01/22/20
01/22
06:25
01/22/20
06:25
TILE

Interface

$16.03 /

-1.34 (-7.71%)

, AWI

Armstrong World

$104.72 /

+2.72 (+2.67%)

, VMC

Vulcan Materials

$141.77 /

+0.71 (+0.50%)

, MWA

Mueller Water

$12.12 /

-0.01 (-0.08%)

, MLM

Martin Marietta

$267.69 /

+1.11 (+0.42%)

Nomura Instinet analyst…

Nomura Instinet analyst Michael Wood names Interface (TILE) his top pick in Americas Building Products for the Q4 reporting season. The analyst's Commercial Current Index increased two points to 53.0, indicating growth in November after "hovering around flattish territory" from early summer through October. Growth appears to be reaccelerating given stabilization in trade and the subsequent rally in equity markets, Wood tells investors in a research note. The analyst views Interface's set-up most favorably "given low investor sentiment, improving organic growth, and internally-driven margin initiatives." He also expects below-consensus initial 2020 frameworks from several commercially-exposed companies, including Armstrong World (AWI), Vulcan Materials (VMC) and Mueller Water (MWA). Wood adds that data continues to support his Buy ratings on Martin Marietta (MLM) and Vulcan.

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Hot Stocks
Interface names Dan Hendrix as President, CEO » 16:22
01/20/20
01/20
16:22
01/20/20
16:22
TILE

Interface

$17.37 /

+0.23 (+1.34%)

Interface announced that…

Interface announced that its Board of Directors has named Dan Hendrix, most recently Chairman of the Board of Interface as President and Chief Executive Officer, effective immediately. Hendrix will also maintain his position as Board Chairman. Hendrix succeeds Jay Gould who was terminated after an investigation concluded that he engaged in personal behavior that violated company policy and core values. Interface confirmed that this leadership transition is unrelated to the company's operational or financial performance.

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