TILE - Earnings call transcript Q2 2024

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Operator

Thank you for standing by. My name is Bailey, and I will be your conference operator today. At this time, I would like to welcome everyone to the Second Quarter 2024 Interface, Inc. Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Christine Needles, Corporate Communications.

begin. may You

Christine Needles

welcome XXXX and Bruce Conference regarding Call CFO. Good hosted to by quarter results, and Laurel second morning, Interface's Hurd, Hausmann, CEO;

During the meaning Interface's federal securities comments historical any are of today's are information, within which not regarding statements forward-looking laws. conference call, business, management

assumes future current not based. as actual and statements on the during most statements. that today. Form performance Reconciliations explanations update described Forward-looking the recent with or which statements guarantees Any management use comparable annual in call of on our this of such XX-K uncertainties our statements, and to most report materially uncertainties the regarding risks certain furnished of include measures are including earnings company's forward-looking results company from assumptions responsibility GAAP Management's are statements the team of belief no forward-looking statements SEC number and and Form a non-GAAP remarks filed the intent, release X-K expectations refer as SEC. The also differ involve are the and such to to to well any measures contained measures. in risks their non-GAAP cause the for with could

being is not copyrighted material be for recorded and call this permission. Interface. Lastly, may Interface's without rerecorded broadcasted and It express contains or rebroadcasted

your the remarks, taping company's confirms to and it. consent for call open will we prepared the up After of on our participation the Your questions. broadcasting call

CEO. the will turn Hurd, I call over Laurel to Now

Laurel Hurd

X% the XX.X%. delivered operational basis and team entire everyone. strong to very achieving Interface One committed commercial XXX points want and year-over-year call, net thank Thank strong continues the I second increased to be another morning, adjusted strategy with good sales our performance our for in begin combined to Interface Christine, and you, quarter. The discipline, profit gross increased as currency To neutral team to margin quarter and we execution excellent

and yielding working is strategy Interface tangible One Our results.

power One entire operating As to focused growth multiyear resetting accelerate reminder of our is Interface a profit. effort on the company improve our a leverage to model and

quarter, growth building with and accelerating drive net are year-over-year team, our and and strong categories, We expanded global including across expanding and sales LVT new designs productivity strength product global strong to local growth. We supply the world-class Americas. profitability. second X% products of were our selling currency-neutral rubber. significantly growth this and chain delivered improved Much all Billings a to of margins fueled by support incremental management very carpet, in through was up functions

transitioned One Americas, You earlier may and year-over-year. strategy. together, orders year, we as and that maximizes part U.S. selling and this in were Interface sales of we the tremendous see currency-neutral to continue recall Interface results. In win approach XX% selling X% our net aligns and incentives unified to QX team coverage grew to This in combined up business Nora the year-over-year

Nora's recently quarters. In sales, after EAAA, and driven by a business see integrated operations initial several our relatively X% post-COVID currency-neutral in lower while visited are is and was winning the we sales in sales our are the longer Australia. and small customers tour manufacturing partially that premium still by to engagement can with and in product to our local team's we Nora growing of region. by very China with the consolidated at on business that opportunity time of stages the we for our the the facility early have our of by Museum, saw withstand growth we in EMEA with energy spend given highlighting depend encouraged foot signs our on firsthand beautiful customers by Asia, showroom selling our I design, products local team in see sales can high in brand. in where the often increased cycle Nora's experience China, large and to quality And our providing I net installed about are premium sales offset slow that this we growth recently ground. and and recovery. We got results, X%, Shanghai starting Although impressed also approach, particularly traffic the a span net

wear air expanding increase billings we our year-over-year X% on XX% of focus segment our run sales. well. as allowing segmentation global be for open and up air breadth prominent Our meet on learning our Interface. environment aesthetics period. Momentum is designed the and were the performance offering the points, to with services connect Ed, driving us of education collection, and products market continues Building for growth for fair requirements. more to needs collection, was stand open point both price a We're has year-over-year, plants areas accessible high-quality a by LVT and up quarter performance Higher to provide in success while for and which coring, a are sustainability, in a high-traffic compelling of teachers. price customer our strong our education students continues seasonally K-XX overall continues expanded of to of because and to include to increased margin design and the in and designs support. In at our Education efficiently reputation to and differentiated positive product fuel for through year our education, driven top QX prior

on X% our added we market we of to year-over-year. office, gaining have in top-selling designs are industry believe example, some addition For existing wood trends, share. were global corporate to grain X.X-millimeter offering. In we Based options X-millimeter billings up

moving and overall strong increase A a as to our in Class we where tenant premium have We see well space, an to with to design as leadership. activity win sustainability continue right and companies products

A&D working companies some needs how space our to and flooring organization commercial broad and their our as meet their great all their for the continues relocate community is and selection provide system are leverages to projects relationships that's is carpet space, LVT evolve to of design to and The they're architects and firms use to deep in cases, continue return tile Our answer. our the offerings of thing the they modular and with one integrated business. flexibility they the looking for office on as

currency-neutral to up Turning comp growth Australia, Consolidated rates year-over-year offset a in by in EAAA XX%. orders X%, a environment Currency-neutral each partially and were in softer driven with orders. strong up in Europe by were Americas on orders strong the down Asia. X% win orders in

QX, our backlog enter XX% year-to-date. we As strong, is up

geographic with on of the success commercial and the focus customers our the and beginning with markets segments, been fastest-growing Our our aligning U.S. productivity, sales has team

quarter. teams evident doing winning in Our are order business, all categories collaborating great growth selling and job in a the which product our is across

by We working. are our Nora which activity increased products that the also for Americas, in gives us thrilled order strategy is our confidence

and supply chain. Turning manufacturing to

Chief year, profit recall to we unlock that first Global Supply margin expansion. supply and our our help optimize appointed Chain might lead generate us that to You last efforts gross productivity Officer chain globally

We our improvement strategy. organization all globally One to our supply chain have of continuous now realigned interface emphasize in support solutions, aligned in technology-enabled productivity,

of will over solutions and next processes the us carpet help mentioned to can to the most supply XX in invest For for positions on efforts solutions efficiency help margins as chain They that carpet to robotic new drive manufacturing more better These tile of and the is in leading U.S., is robotic manufacture some we've labor-intensive automate months. and efficiently. our profitability automation parts our these our better in we for in workforce our hard-to-fill the improved XX which be team manufacturing implemented operational plants. calls, as prior example, will

are material is which implementation, of a yielding strategy. waste. we Simplifying and complexity we initial also in fundamental early more by aspect raw While are labor One encouraged efficient stages less costs the our of Interface are results,

and We to we in processes the and enterprise. This continue provide industry-leading to includes how our reduce complexity our products functional across areas customers. our services simplifying

and our simplifies For are products us focuses prioritizing more narrow products on design, offering, our LVT assortment new best-selling in go deep product LVT like design reducing X-millimeter our needs. Rationalizing enabling in our into deep our products product our wood ] like strategy customers' [ X.X-millimeter expanding and to option. driving SKUs desired our popular most as effectively the example, while new line such that product a we by complexity grain

consistent our internal Our unifies launches global of strategy customer resources the campaigns faster One marketing also enables experience. and approach while overall offerings. This Interface enhancing product new global

our they for new and globally. Our brand everywhere at trade global introduced made customers same this the can now experience see Interface time the major attitude us, at the we year, same design world around more fares. Earlier way including events

believe pre-COVID we events. customer top came London, our important products out with Threaded, quarter, generation June, Etched is with up event. NeoCon learn showroom of with Etched will During office. This and best in new was performing spaces. In and was brought very be of strong high-end corporate our experts. And customers world. collection, connected specify launched message in in the the Traffic to amazing to soften showrooms were a help want came from at Week collection, who and everywhere at latest day the to received. Threaded activities some Chicago buzzing sustainability collections tile design these second levels on LVT May global the In their showroom and to design all our David in going new carpet well global global developments we customers and Oakey's coming around second designs with design our see at the quarter, life traffic is our and days, our projects with We hand, lead very & collection, to to of X to was customers especially back Clerkenwell and Earthen Design same that work & Forms, the we same promising

We also design. third-party brand carbon More sustainability low and infused our verified with for a the focus our with messaging highlighted Made on showrooms differentiation design

the for I share midsized proud sustainability purpose-driven drive last leader, that we Interface by will important best shareholders Before employees, Bruce we be to the accolades in along brands to and and as magazine. in we the of as a corporate report Globescan's Patagonia want environment companies recognized sustainable differentiation bolster I'm of we cited annual sustainability These a and our America's Interface financials, organization. the do like annual Time Separately, as growth survey, quarter. leader brand the in most customers, IKEA. globally a work XXXX do prioritize the covers our one with again fifth more it. once of continues recognized and we couple selected and as ways great experts. In was were recognitions GlobeScan's to survey

available most Investor and and Bruce? fantastic, for was robust that, with excellence Relations of all, we Lastly, report operational on go an through entered highlighting our focus It's every impact on we Bruce second launched our second focus vigilant XXXX website. In last customers week, quarter strong ESG of the a over our XXXX leadership, half our brand our order progress. to our a bolstering it financials. sum, turn the delivering acute and design momentum, on to day. With I'll book,

Bruce Hausman

thank Well, and morning, you, everyone. Laurel, good

X% quarter an market second that sales the in X% net offset FX-neutral and EMEA Second was net were increase quarter was Australia, X% partially the was of up an totaled by year-over-year. On X% FX-neutral Second Asia education EAAA, X% up sales the primarily XXXX, up versus in segment. In strength XX%, basis, down Americas and sales of year-over-year. were by up year-over-year, $XXX.X million, net driven quarter

and costs. Adjusted the points gross of XX.X% in $XX.X the quarter net input lower prices in XXX Second expenses increase sales of an basis million higher margin quarter net million profit was selling material raw on or were quarter XX.X%, second second XX.X% $XX.X year. sales to compared or of SG&A last higher volume, adjusted

adjusted in increase quarter. and second was million, versus income profit XX% in year. margins $XX.X gross million was the operating driven higher adjusted last higher net of quarter The operating by up $XX.X Second income quarter sales the

was EPS versus quarter $X.XX second adjusted in $X.XX last the year. quarter Second

million debt XX The second or $XXX.X of cash quarter, capacity. In net year-to-date, Second last operating second of quarter's million hand the debt last totaled the million $XX.X adjusted net in of our as million net EBITDA. Capital the from was quarter year activities EBITDA in resulting at second calculated leverage and of $XXX $X.X strong $XX.X the of was million $X.X expenditures minus adjusted of on $XXX.X and quarter X.Xx at liquidity in cash have of which and revolver million year. million $XXX by divided debt line strategy, second in paid versus XXXX. totaling months adjusted allocation in quarter. end million, cash million to compared we $XX.X We end quarter this $XX.X with were $XX our total generated capital consisted million, EBITDA debt ratio was the XXXX of million of down

sales and full a our to year outlook. its Interface is increasing orders strong net strong backlog, With Turning estimate.

Adjusted million. With we to profit the following: We $XXX of net anticipating a XXXX, of profit to third expect year-over-year this sales rate in $XX net million sales approximately million, of gross expenses adjusted of year. And continue and count adjusted approximately for other margins of XX%, expenses XX%. shares. And billion, expenses Adjusted XX.X million the effective the $X.XX to SG&A are $XX profit full $X.X and fiscal of of of million. that, and turn fiscal interest XXXX, year Laurel approximately for billion million. to of margin million adjusted gross SG&A adjusted approximately fully increase share $XXX expenses approximately adjusted full remarks. of quarter margin fully tax for gross expenditures for Adjusted of million interest back call $XXX fiscal $X approximately approximately share million diluted of and concluding I'll $XX leverage approximately approximately the weighted the of weighted of XX.X year diluted shares and capital approximately average count other XX.X%,

Laurel Hurd

gaining thank Interface of I'm the continue half for we segments corporate health making and trends in global delivering entire discipline. We strong XXXX. share Despite team the with One combined commercial by strong are against remain and the focused delivering care, progress our our Thank second business. dynamic our against I want Interface first efforts in Bruce. and we our priorities, high-growth amplifying positive while quarter you, strategy a education markets, execution growth see to office. continued encouraged operational we're a like and with to on

We needs. With on it to that, market, a continue in to opportunities. mix questions. specified product leveraging premium right and designs selling our to system offer Operator? competitive meet we aligning strength selection We're on biggest delivering I'll build are our differentiated to our open also as customers' advantage innovative and low-carbon focused and expanded to while the the products our up

Operator

We Q&A move our will into now session.

Group. Your Kathryn Research first the from line of question Thompson comes with Thomas

Kathryn Thompson

line. reported in backdrop, versus initiatives the already slightly I your in the guide. earnings is top you is primary who's of of nonresident your The the guess more on expected, this first are in the some driving It a color one discuss the top Could momentum separating cited higher And little of better clearly, market. did peers And end above Interface-specific than bit this your focus. of that fundamentals line terms quarter. slowing

Laurel Hurd

seeing We're Yes. it have there's strength in We still with seeing the built. migration also the happening do really is Thanks, are business, Kathryn. quarter, the in up the continuing break really, new top in Look, of X% I'd K-XX, in we down, the across there. say as in talked if strong. we're order XX% the of up said, Both XX% book year. We're our means That on Americas, and pleased really regional funding we there, quarter schools I positive which momentum. the progress see And the our really about that to momentum we're education top line, in prior being there's out country. government a category. that business lot there's in

working. and a are seeing we're business the there top tailwinds lot then our important teams business strategy, It's really on that is think of Interface I an category. then for you strategy in our execution, take winning us. go-to-market of So that And One

is Our working. product assortment

hold in education low So were And really again, that of offerings really through Ed. in we're space. seeing that a strong, were seeing the of kind our I projects There carbon winning perspective, Higher lot COVID. same think strength from an we're on

are care seeing about were for share. before. think office, which category, us. believe and but we are There we and gaining a education. we about challenging If really feel than Corporate globally that quality, flight in our segment share. in It's really in momentum in have office, X% we're segment, has to space customers that's that that a we're we carbon a they gaining we up growth So ever tailwinds the about market good seeing more corporate and we're been

winning. that areas really are we're those So

it's good driving think I overall, execution market, dynamic world, around our that dynamic sure, is So the and I really feel for results. the look, great

Bruce Hausman

I just One all of that our across add would up. quarter metric was our that. lines, really is in to And nice volume Laurel, price the product and

and I it's need and price, metrics, we need -- of is volume are. they fantastic. controlling a just that we're think So categories, -- good it's seeing example which the focusing organization really controllable important We across our and all product both how and selling on

Kathryn Thompson

is at gross expectations, modeled And on fairness of look quarter. Great. in when came but the little in Okay. last we ahead margins. it's bit line. Again, had it a Essentially, follow-up then what I

So in quarter things some that previously margins into better was the with it are to than upside that implies quarter? what that the What this something of expected. drive helped you [ ]

Bruce Hausman

Kathryn. question, Great

our stepping productivity back XX% by and was driven a just input So price. and about XX% for gross moment, about expansion by deflation was cost driven margin of

us points year-over-year So of that got XXX to the basis improvement.

I chain material kicking and was which the -- in the our supply productivity our hired year costs. organization raw together mentioned leader strong, we global around it to supply in, of is ago which initiatives worked environments seeing we're a remarks, our speaks in chain our I think continues purchasing price our is global really chain, manufacturing prepared global hold drive that our in then that globally about and environment fantastic. And supply productivity to our Laurel great. think leveraging that are again And to

Operator

the question with next line of Barrington comes from Research. Paris Alex Your

Alexander Paris

on and half. strong quarter strong first the Congratulations

next segment office was market wondering next on segments, the Just strength wanted in project probably Hearty the segment, did And then recent of quarter? health retail, corporate quarters. market a to been a in market of about about the has maybe continuing we couple it the do the on largest on talk by how which care. I couple typically in and delays side. That's follow things education. challenged on comment up congratulations

Laurel Hurd

great delays, we we remarks, but with business are mentioned. had tough coming half. retail last significant you quarter. it project we didn't year talked when a that's had really the question. And prepared And back Yes, those retail. I'll it mention start the in in a last back about as We

stores kick really So the the in said haven't lost good and It half. that orders news We've got in. we're was business. that remodeled, hand those is, for seeing we we as to before, and be delayed that back need for

only for segment did the the we little So we team approach a in question. U.S. that selling which volume, gross if perspective, come great with still the that, a half, -- but the And that if think remember and January. it's back really to a the business does health to profit a organization important in selling the the back Interface. about a pressure bit selling will from pretty One heartily combine in move in not great care, Interface in we a what back half. And really mix team, good you in It's did

about added on health also in XX% care the sellers feet important is We our and the really street Nora to Nora market.

and see really the with segment, continual aging the we're to health forward. in growth care drive -- that fueling a on basis that growth all we're up So the here going we of population

Alexander Paris

care were in segment? global the health billings How

Laurel Hurd

in health... billings Global the

Bruce Hausman

quarter, Alex. in slightly were down the They

Laurel Hurd

longer -- those Nora think a projects, have the are projects you lead. the And care actually actually -- about health

we get over then quarters. and several in the orders those out projects next So ship

Bruce Hausman

caution just about I'll have myself health data. the you at It's care I quarter-to-quarter. always interesting looking to Yes. look add. when

come cycles, it selling to in really transactions. because bigger waves, back step bigger You deals, longer have does and in,

like to And just at then look so perspective versus quarter-to-quarter. broader a we to it from tend

Alexander Paris

increase in quarter keep on Understood. XX% time margins. higher guidance. Last cost and its outperformance -- basis? for of due were going related, deflation. that price intermediate-term just the deflation have the and they in And back you prior your as full and the Do gross a they that a Really then to versus margins comparison then the high, input run Can your well year-over-year represents cost target for this lastly, year volume keep Has gross expanding? they course guidance XX% can was that input a and the follow-up slight great as an from XXXX.

Laurel Hurd

of up first do productivity the relentlessly. the to get that's margins driving take over I'll our kicking years. A which lot in we're of half to And ambition we XX%. believe our that, what over is an initiatives we will of Alex, couple have be gross back next

really All organization. our of investments automation the and chain through that making in of global the benefits supply we're reaping

We to that continue. expect

I lot question. more We're just good started. second Bruce part and the like do. And making we're progress, feel that to So of there's I'll getting let a take

Bruce Hausman

imagine, Yes. still A good around news seeing as lot Alex. in runway that costs, might moving you pieces, input we're of deflation. our is The

help our So back months. in they when we to in if next That down to the and P&L obviously, you were until X flow think help because stuff, through X will year-over-year. half, about us the us will doesn't purchases the QX, it that purchase the

of for us. And flip that to from controllable. of few those costs namely natural be make -- So certain fortunately, there And big trajectory will But a that the raws. them. general, lift really organization are with cargo. in for our again, a pleased to up freight we're side, we're fair, where our focus material we're it's be a up, benefiting is then some chain are on raw things that's our then and controlling in of that deflation supply the the at happening And are we're the

Operator

David with And question comes next MacGregor your from Research. Longbow

David S. MacGregor

the all getting of including on progress. very impressive, lot Interface. a here. traction this It's One Congratulations We're

factors we -- gross well, as combining it's with the that start go-to-market. and LVT Nora about know a in I'm just and wanted and asking that volume lot So making. of I leverage that profit the what you pretty bridge, that in sales And work I'm and of of what to just predominantly cost a just I meaningful but price talked by realizing talk the effort about been of you've of got What is we a in the potential terms couple terms is? benefits follow-ups. are contributor that effort? done inning here. Can in, in combining consolidated the there then, sales I've And about guessing guessing

Laurel Hurd

we're think quarter and it Yes, that move was take them thanks, in to in that But making. projects, years move, getting they it is One seeing and got to Interface was team, And they're -- you've the bold running calls is I'm some impressed that. in time, selling sellers, compelling. the right? So combining with you making in going, the the a their I'll about take U.S. care these then the Interface the teams just And some really with And David. progress organization they're their selling projects, collaborating new and January on the that sales Nora of that that unified the they pulled starting stages it's some of the and in team last And the a the order early projects. is together market off after cases. The especially team of joint combined the X, hit they're growth selling a are progress making health exciting. test way in ground year. field

the happening So iterating What team it's make leadership breeding I teams just together. feel like day is want win to doing progress. Momentum to momentum, job every And a is and these early innings. there. fantastic again, is sales

and accountability driving it. that's each it of to fueling the in desire to other is just win some that market So

of front I think the is benefits the us. real in true still teams of collaborative

that. I'm by encouraged So

Bruce Hausman

with and think I mix, both important headlines my focusing important volume lines. focus When few a It's selling and levers and on is. the large a to I'll of all in that great David, I just of that volume, how product that see teamwork, organization. a on about just all certain selling in tenure, as so cross-selling, a And I'm lot, of so our around our I making about teamwork really impressed pricing hear organization. there's pushing course, that team the momentum how is; on and and add, our we're across cross-selling hear

Laurel Hurd

volume the across kudos that, out categories. Bruce to growth but just of that and our add team all I'll again, just this, there, price we're to product in the And seeing said fact too, and

we've been to that. it's been while say think I able a since

So it's a really sign. encouraging

David S. MacGregor

ask the issue wanted SG&A just you to seemed been -- seem and It Interface, about has an for is. [indiscernible] I do around stabilized got level this at arms of have in number, sort to capacity to a least is you your historically how guess but of basis. it on have the question here of you think this growth you have kind I SG&A? much quarterly at mid-XXs that

Laurel Hurd

Yes.

we'll be into that efficient just we we great we built all want fuel day a to So side, anything right? then we've on commercial the anything on got then take efficiencies. we right think long. that the be can product the and question, making we'll And has it's that really try on that's customer. test the and to been going that's on trade-off the the discipline this growth work ruthless we're is whether to innovation the touches or focused The Bruce we a make And we'll those sure growth. And where invest fueling and organization, we'll thing and about go It's sure that bet. to And organization. touching and talked learn customer it's selling drive think

that is we're we then going from those hold and and back #X, in So our continue going going not think learn U.S. We're on drive market. will most to prioritized fuel largest, the we'll that to been growth, there we our to learn that that choices. be and profitable drive We've initiatives it. to are clear growth, test to but

disciplined, but growth-minded. it's it's So

David S. MacGregor

your guessing well. up. of here I as to some we guess education you also to And and rates wanted One the talked I'm it offering. ask I with discussed win regard is some you -- this that in about it Interface the is initiative sales about comment of your are your But just what differentiation

maybe you've Some that about forward your product XXXX? into about of if to of the you continue that this -- above new just feel the going got. could And growing ability rollout I market and just wonder is probably the sustainability in talk how you

Laurel Hurd

just right selling and lot the teams a the will driver with has have think a to Class grow. but growth traction end and place, ammunition it. Health us. we go our market not -- that do perfect combined to continue of there. Yes. as move on say. that the and can't It's about of but going opportunity we've to be we've really office, going care, care for to that. going more think, fact to control continue the sure we've we to And market about the that about -- products launch and our love here's need. got We the sort do, what to And just relentless be grow that we focused our customers to share. than to product, that all for We customers that. I'd think before. going it we're long-term our corporate what is is more We're we're what that want, customers They so got our A And will we premium that these fuel market, education, gain that's much launch new We've that they we're customers about carbon like to then -- products got just spaces, opportunity it's making brand think

that. products Our perfect for are

fuel mindset in mindset and our gain health our share corporate and a we So to continue care, think office will education growth. is

David S. MacGregor

Last of questions couple Nice. for me.

a perspective margin standpoint... you how much backlog. on that from visibility the forward that, and profitability backlog gross Any gives Just net on the

Bruce Hausman

healthy But -- business. retail all And fair, course, our a be down mixing more little David. business into that's margin that's I will It's of mean gross our good to It's a good, there's a good bit built business. strong, profitable on guide. line. business, that

David S. MacGregor

in And so balance sheet. deleveraging. I just the me of you've accomplished last terms much is mean question for the

Just repurchase activity. kind you allocation see capital and in structure the of now, share the talk maybe capital about optionality

the Just talk about how you reinvest cash.

Bruce Hausman

Yes. about to our here's We structure. and Great able we're talk so it's question, be to debt great -- the progress. at where with

on We might rate go A. pay term variable to have left a we our remember $XX that that. And million you loan interest on

our the paying it's investing rate in investing investing SOFR the down -- the at fixed -- interest about A. also we're it's we So We're plus Laurel then plant X.XX%. robotic some right investment technology right Germany. term prepared We're some rate our pay In business. have million in in $XXX we in. of in mentioned remarks, And continue levels, we now, of debt. And automation and that these also loan rubber to our think

between so our our down is there's right this return, optionality the focus of building continuing we're And pay putting our balance right trade-off cash. investing really next with where the dollar where that's to sheet. a business in And and now debt on

Operator

questions back Hurd will over at are there closing the call further And time. this to remarks. hand no Laurel for I

Laurel Hurd

the thank to all want the then the just I to momentum. Interface team again, the for And of It's progress. entire And to listening you. you for exciting great see Thank call. all thank

Operator

conclude conference This call. does today's

disconnect. You may now

Interface (TILE) 2 Aug 242024 Q2 Earnings call transcript