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 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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The article Why Interface's Shares Popped originally appeared on Fool.com.Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Interface. The Motley Fool owns shares of Interface. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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