Commercial flooring manufacturer Interface posted robust third-quarter 2024 results, thanks to strong performance in education and corporate segments, coupled with improved margins and significant debt reduction.

Third-quarter net sales were $344.3 million for the period ended September 29, 2024, up 10.7% compared to $311.0 million in the prior-year period. The company recorded net income of $28.4 million in the third quarter of 2024, or $0.48 per diluted share, compared to third-quarter 2023 GAAP net income of $9.9 million, or $0.17 per diluted share. 

“We delivered another quarter of strong performance, as our One Interface strategy continues to yield tangible results, including double-digit sales growth and significant profitability expansion," said Interface CEO Laurel Hurd. "Education billings were up 18% year-over-year in the third quarter. In the Corporate Office segment, our global billings were up 2% year-over-year, outpacing overall industry trends and demonstrating that we are gaining market share. As expected, Retail billings increased in the third quarter compared to soft activity in the prior year."

Net sales for the first nine months of 2024 were $980.6 million, up 4.7% versus $936.4 million in the prior-year period. The company recorded net income of $65.2 million in the first nine months of 2024, or $1.11 per diluted share, compared to first nine months of 2023 net income of $25.0 million, or $0.43 per diluted share.