Interface announced sales were up 12% year over year for the third quarter ending October 3, 2021.
"We delivered solid results this quarter, growing sales 12% year over year, while generating $29 million of cash from operating activities and paying down debt to reach pre-pandemic leverage," said Dan Hendrix, chairman and CEO of Interface. "Order momentum continued, increasing 24% year over year, reflecting a 34% increase in the Americas region and a 12% increase in our EAAA region. Demand for our carbon neutral and carbon negative products continues to build, and we are proud to announce that we have transitioned our European carpet tile backing entirely to CQuest Bio, removing petroleum-based bitumen in favor of bio-based materials and recycled fillers."
Bruce Hausmann, CFO of Interface, said the company expects a strong end to the year.
"We ended Q3 with backlog up 33% year over year and 8% sequentially," he said. "Gross margins will continue to be hampered due to ongoing industry-wide supply chain challenges, but those impacts will be partially offset with pass throughs of price increases and freight surcharges."
For more information, visit interface.com.