Interface, Inc. (NASDAQ:TILE) Q2 2023 Earnings Call Transcript August 4, 2023 8:00 AM ET

Company Participants

Christine Needles - IR

Laurel Hurd - CEO

Bruce Hausmann - VP and CFO

Conference Call Participants

Brian Biros - Thomson Research Group

David MacGregor - Longbow Research

Keith Hughes - Truist

Operator

Hello, and welcome to the Q2 2023 Interface, Inc. Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I will now turn the call over to Christine Needles. Please go ahead. Christine, please go ahead. [Technical Difficulty] My apologies for the technical difficulties. I will now turn the conference over to Christine Needles. Please go ahead.

Christine Needles

Good morning, and welcome to Interface's conference call regarding second quarter 2023 results hosted by Laurel Hurd, CEO, and Bruce Hausmann, Vice President and CFO.

During today's conference call, any management comments regarding Interface's business, which are not historical information, are forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements regarding the intent, belief or current expectations of our management team, as well as the assumptions on which such statements are based. Any forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could cause actual results to differ materially from any such statements, including risks and uncertainties described in our most recent annual report on Form 10-K filed with the SEC. The company assumes no responsibility to update forward-looking statements.

Management's remarks during this call also refer to certain non-GAAP measures. Reconciliations of the non-GAAP measures to the most comparable GAAP measures and explanations for their use are contained in the company's earnings release and Form 8-K furnished with the SEC today.

Lastly, this call is being recorded and broadcasted for Interface. It contains copyrighted material and may not be re-recorded or rebroadcasted without Interface's expressed permission. Your participation on the call confirms your consent to the company's taping and broadcasting of it. After our prepared remarks, we will open up the call for questions.

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

Laurel Hurd

Thank you, Christine, and good morning, everyone. Once again, I want to thank the Interface team for delivering a solid quarter. It was in line with our guidance and expectations on strong execution around the globe. Currency-neutral net sales were down 5% year-over-year as we anticipated compared to a strong prior year comp that was up 23%. Overall, given ongoing macro challenges, we're pleased with Q2's net sales results and the steady customer demand that we saw throughout the quarter.