Why Interface's Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of modular carpet maker Interface (NASDAQ: TILE  ) jumped as much as 13% today after releasing earnings.

So what: Sales rose 6.1% in the quarter to $243.5 million and net income rose 6.9% to $11.0 million, or $0.17 per share. That was in line with estimates and turned around a series of massive earnings misses.  

Now what: The Americas business led the way with an 11.6% rise in sales to reach a record quarter. Europe was still a drag but that's to be expected given the state of the European economy. The company still has a lot to prove to live up to an 18 times forward P/E ratio but at least it's headed in the right direction operationally right now.

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Related Tickers

9/27/2016 4:00 PM
TILE $16.50 Up +0.16 +0.98%
Interface CAPS Rating: *****