Interface, Inc. (Nasdaq: TILE), a worldwide commercial flooring company and global leader in sustainability, today announced results for the second quarter ended June 29, 2025.

Second quarter highlights (all comparisons are year-over-year):

  • Net sales totaled $376 million, up 8% and up 7% currency neutral.
  • GAAP earnings per diluted share of $0.55, a 45% increase; Adjusted earnings per diluted share of $0.60, a 50% increase.
  • One Interface strategy continues to drive shareholder value.

“We delivered strong second quarter results ahead of our expectations with currency-neutral net sales growth of 7% and significantly expanded profitability. We continued to see strong momentum and market share gains in the Americas with currency-neutral net sales growth of 11% driven by our combined selling teams and expanded product offerings,” commented Laurel Hurd, CEO of Interface.

“Our One Interface strategy continues to yield measurable results, fueling growth across all product categories and key market segments. Second quarter global billings increased 28% in Healthcare, 11% in Education, and 3% in Corporate Office. Our performance reflects the strength of our strategy and market position, and our team’s disciplined execution, despite market uncertainty,” continued Hurd.

“Gross profit margin expanded 403 basis points driven by higher pricing, favorable product mix, and higher sales volumes that generated manufacturing cost benefits in the second quarter. We are operating from a position of strength, with a solid balance sheet that gives us flexibility and optionality as we remain focused on long-term value creation for shareholders,” added Bruce Hausmann, CFO of Interface.

Consolidated Results Summary (Unaudited)

Three Months Ended

Six Months Ended

(in millions, except percentages and per share data)

6/29/2025

6/30/2024

Change

6/29/2025

6/30/2024

Change

GAAP

Net Sales

$

375.5

$

346.6

8.3

%

$

672.9

$

636.4

5.7

%

Gross Profit Margin % of Net Sales

39.4

%

35.4

%

403 bps

38.5

%

36.6

%

186 bps

SG&A Expenses

$

95.9

$

84.5

13.6

%

$

183.7

$

170.4

7.8

%

SG&A Expenses % of Net Sales

25.5

%

24.4

%

118 bps

27.3

%

26.8

%

51 bps

Operating Income

$

52.0

$

38.2

36.4

%

$

75.3

$

62.6

20.3

%

Net Income

$

32.6

$

22.6

44.3

%

$

45.6

$

36.7

24.0

%

Earnings per Diluted Share

$

0.55

$

0.38

44.7

%

$

0.77

$

0.63

22.2

%

Non-GAAP

Currency-Neutral Net Sales

$

371.1

$

346.6

7.1

%

$

672.9

$

636.4

5.7

%

Adjusted Gross Profit Margin % of Net Sales

39.8

%

35.7

%

402 bps

38.9

%

37.0

%

184 bps

Adjusted SG&A Expenses

$

93.4

$

84.3

10.8

%

$

180.2

$

170.5

5.7

%

Adjusted SG&A Expenses % of Net Sales

24.9

%

24.3

%

56 bps

26.8

%

26.8

%

(1) bps

Adjusted Operating Income

$

55.9

$

39.6

41.2

%

$

81.4

$

65.1

24.9

%

Adjusted Net Income

$

35.4

$

23.6

49.9

%

$

50.0

$

37.8

32.3

%

Adjusted Earnings per Diluted Share

$

0.60

$

0.40

50.0

%

$

0.85

$

0.64

32.8

%

Adjusted EBITDA

$

64.8

$

50.5

28.4

%

$

101.8

$

89.2

14.1

%

Currency-Neutral Orders Increase Year-Over-Year

2.9

%

  • Second quarter 2025 adjusted gross profit margin increased 402 basis points year-over-year, due to higher pricing, favorable product mix, and lower manufacturing costs per unit on higher volume; partially offset by higher raw material costs.
  • Second quarter 2025 adjusted SG&A expenses increased $9.1 million year-over-year due to higher sales commissions and variable compensation on increased sales and profits, higher healthcare costs, inflation, and foreign currency exchange variances.

Additional Metrics

6/29/2025

12/29/2024

Change

Cash

$

121.7

$

99.2

22.6

%

Total Debt

$

304.4

$

302.8

0.6

%

Total Debt Minus Cash ("Net Debt")

$

182.7

$

203.5

(10.2

)%

Last 12-Months Adjusted EBITDA

$

201.6

Total Debt divided by Last 12-Months Net Income

3.2x

Net Debt divided by Last 12-Months Adjusted EBITDA ("Net Leverage Ratio")

0.9x

Segment Results Summary (Unaudited)

Three Months Ended

Six Months Ended

(in millions, except percentages)

6/29/2025

6/30/2024

Change

6/29/2025

6/30/2024

Change

AMS

Net Sales

$

239.4

$

215.0

11.4

%

$

419.4

$

384.9

9.0

%

Currency-Neutral Net Sales

$

239.6

$

215.0

11.5

%

$

420.3

$

384.9

9.2

%

Operating Income

$

48.8

$

26.8

82.2

%

$

68.0

$

45.0

51.1

%

Adjusted Operating Income

$

48.8

$

26.9

81.3

%

$

68.7

$

45.0

52.6

%

Currency-Neutral Orders Increase Year-Over-Year

2.1

%

EAAA

Net Sales

$

136.1

$

131.6

3.4

%

$

253.6

$

251.5

0.8

%

Currency-Neutral Net Sales

$

131.5

$

131.6

(0.1

)%

$

252.6

$

251.5

0.4

%

Operating Income

$

3.2

$

11.3

(71.8

)%

$

7.3

$

17.6

(58.5

)%

Adjusted Operating Income

$

7.1

$

12.7

(44.2

)%

$

12.7

$

20.1

(37.0

)%

Currency-Neutral Orders (Decrease) Year-Over-Year

4.3

%

Outlook

Based on strong Q2 2025 results, Interface is raising its full fiscal year guidance, while acknowledging a dynamic and uncertain global macro environment. With that backdrop in mind, Interface anticipates the following:

Q3 Fiscal Year 2025 Outlook

Net sales

$350 million to $360 million

Adjusted gross profit margin

38.0% of net sales

Adjusted SG&A expenses

$92 million

Adjusted interest & other expenses

$6 million

Adjusted effective income tax rate

27.0%

Fully diluted weighted average share count

59.1 million shares

Note: All figures are approximate

Full Fiscal Year 2025 Outlook

Previous Full Fiscal Year 2025 Outlook

Net sales

$1.370 billion to $1.390 billion

$1.340 billion to $1.365 billion

Adjusted gross profit margin

37.7% of net sales

37.2% to 37.4% of net sales

Adjusted SG&A expenses

$362 million

26% of net sales

Adjusted interest & other expenses

$25 million

$24 million

Adjusted effective income tax rate

26.0%

27.0%

Capital expenditures

$45 million

$45 million

Note: All figures are approximate

Webcast and Conference Call Information

Interface will host a conference call on August 1, 2025, at 8:00 a.m. Eastern Time, to discuss its second quarter 2025 results. The conference call will be simultaneously broadcast live over the Internet.

Listeners may access the conference call live over the Internet at:

https://events.q4inc.com/attendee/783508824, or through the Company's website at: https://investors.interface.com.

The archived version of the webcast will be available at these sites for one year beginning approximately one hour after the call ends.

Non-GAAP Financial Measures

Interface provides adjusted earnings per share, adjusted net income, adjusted operating income ("AOI"), adjusted gross profit, adjusted gross profit margin, adjusted SG&A expenses, currency- neutral sales and currency-neutral sales growth, net debt, and adjusted EBITDA as additional information regarding its operating results in this press release. These non-GAAP measures are not in accordance with – or alternatives to – GAAP measures, and may be different from non-GAAP measures used by other companies. Adjusted EPS, adjusted net income, and AOI exclude nora purchase accounting amortization, restructuring, asset impairment, severance, and other, net, and the cyber event impact. Adjusted EPS and adjusted net income also exclude the property casualty loss impact. Adjusted gross profit and adjusted gross profit margin exclude the nora purchase accounting amortization. Adjusted SG&A expenses exclude restructuring, asset impairment, severance, and other, net and the cyber event impact. Currency-neutral sales and currency-neutral sales growth exclude the impact of foreign currency fluctuations.

Net debt is total debt less cash on hand. Adjusted EBITDA is GAAP net income excluding interest expense, income tax expense, depreciation and amortization, share-based compensation expense, cyber event impact, property casualty loss impact, restructuring, asset impairment, severance, and other, net, the nora purchase accounting amortization, and the loss on foreign subsidiary liquidation. This news release should be read in conjunction with the Company's Current Report on Form 8-K furnished today to the U.S. Securities & Exchange Commission, which explains why Interface believes presentation of these non-GAAP measures provides useful information to investors, as well as any additional material purposes for which Interface uses these non-GAAP measures.

About Interface

Interface, Inc. (NASDAQ: TILE) is a global flooring solutions company and sustainability leader, offering an integrated portfolio of carpet tile and resilient flooring products that includes Interface® carpet tile and LVT, nora® rubber flooring, and FLOR® premium area rugs for commercial and residential spaces. Made with purpose and without compromise, Interface flooring brings more sophisticated design, more performance, more innovation, and more climate progress to interior spaces. A decades-long pioneer in sustainability, Interface remains “all in” on becoming a restorative business. Today, the company is focusing on carbon reductions, not offsets, as it works toward achieving its verified science-based targets by 2030 and its goal to become a carbon negative enterprise by 2040.

Learn more about Interface at interface.com and blog.interface.com, nora by Interface at nora.com, FLOR at FLOR.com, and the company’s sustainability journey at interface.com/sustainability.

Follow us on Facebook, Instagram, LinkedIn, X, and Pinterest.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements may be identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” “should,” “goal,” “aim," “objective,” “seek,” “project,” “estimate,” “target,” “will” and similar expressions. Forward-looking statements in this press release include, without limitation, any projections we make regarding the Company’s 2025 third quarter and full year 2025 under “Outlook” above. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in “Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2024: "We compete with a large number of manufacturers in the highly competitive floorcovering products market, and some of these competitors have greater financialresources than we do. We may face challenges competing on price, making investments in our business,orcompetingon product design or sustainability", "Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicates a material impairment of those assets", "Our success depends significantly upon the efforts, abilities and continued serviceof our senior management executives,our principal design consultantand other key personnel(including experienced sales and manufacturing personnel), and our lossof any of them could affect us adversely", "Large increases in the cost of our raw materials, shipping costs, duties or tariffs could adversely affectus if we are unable to pass these cost increases through to our customers", "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber or our primary third-party supplier for luxury vinyl tile (“LVT”) or other key raw materials could have a material adverse effect on us", "Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase our manufacturing costs, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations", "Our business operations could suffer significant losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, endemics, unstable geopolitical situations or other unexpected events", "The market price of our common stock has been volatile and the value of your investment may decline", "Sales of our principal products have been and may continue to be affected by adverse economic cycles, and effects in the new construction market and renovation market", "Disruptions to or failures of information technology systems we use could adversely affect our business", "The impact of potential changes to environmental laws and regulations and industry standards regarding climate change and other sustainability matters could lead to unforeseen disruptions to our business operations", "Health crisis events, such as epidemics or pandemics, have adversely impacted, and may continue to impact, the economy and disrupt our operations and supply chains, which may have an adverse effect on our results of operations", Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including foreign currency fluctuations, restrictive taxation, custom duties, tariffs, border closings or other adverse government regulations", "The conflicts between Russia and Ukraine and in the Middle East could adversely affect our business, results of operations and financial position", "Fluctuations in foreign currency exchange rates have had, and could continue to have, an adverse impact on our financial condition and results of operations", "The uncertainty surrounding the ongoing implementation and effect of the U.K.’s exit from the European Union, and related negative developments in the European Union, could adversely affect our business, results of operations or financial condition", "We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt", "Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness", "We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness", and "We face risks associated with litigation and claims".

You should consider any additional or updated information we include under the heading “Risk Factors” in our subsequent quarterly and annual reports.

Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.

- TABLES FOLLOW -

Consolidated Statements of Operations (Unaudited)

Three Months Ended

Six Months Ended

(In thousands, except per share data)

6/29/2025

6/30/2024

6/29/2025

6/30/2024

Net Sales

$

375,522

$

346,635

$

672,935

$

636,378

Cost of Sales

227,545

224,022

413,995

403,360

Gross Profit

147,977

122,613

258,940

233,018

Selling, General & Administrative Expenses

95,930

84,462

183,666

170,421

Operating Income

52,047

38,151

75,274

62,597

Interest Expense

4,443

6,173

8,858

12,596

Other Expense (Income), net

3,411

832

5,114

(144

)

Income Before Income Tax Expense

44,193

31,146

61,302

50,145

Income Tax Expense

11,632

8,588

15,739

13,408

Net Income

$

32,561

$

22,558

$

45,563

$

36,737

Earnings Per Share – Basic

$

0.56

$

0.39

$

0.78

$

0.63

Earnings Per Share – Diluted

$

0.55

$

0.38

$

0.77

$

0.63

Common Shares Outstanding – Basic

58,555

58,281

58,495

58,260

Common Shares Outstanding – Diluted

59,073

58,692

59,123

58,703

Consolidated Balance Sheets (Unaudited)

(In thousands)

6/29/2025

12/29/2024

Assets

Cash and Cash Equivalents

$

121,701

$

99,226

Accounts Receivable, net

194,251

171,135

Inventories, net

288,165

260,581

Other Current Assets

38,969

33,355

Total Current Assets

643,086

564,297

Property, Plant and Equipment, net

291,839

282,374

Operating Lease Right-of-Use Assets

80,619

76,815

Goodwill and intangibles assets, net

162,770

148,160

Other Assets

99,908

99,170

Total Assets

$

1,278,222

$

1,170,816

Liabilities

Accounts Payable

$

86,621

$

68,943

Accrued Expenses

122,850

134,996

Current Portion of Operating Lease Liabilities

13,571

12,296

Current Portion of Long-Term Debt

506

482

Total Current Liabilities

223,548

216,717

Long-Term Debt

303,943

302,275

Operating Lease Liabilities

71,541

68,092

Other Long-Term Liabilities

104,165

94,584

Total Liabilities

703,197

681,668

Shareholders’ Equity

575,025

489,148

Total Liabilities and Shareholders’ Equity

$

1,278,222

$

1,170,816

Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended

Six Months Ended

(In thousands)

6/29/2025

6/30/2024

6/29/2025

6/30/2024

OPERATING ACTIVITIES

Net Income

$

32,561

$

22,558

$

45,563

$

36,737

Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:

Depreciation and Amortization

9,829

9,728

19,230

19,344

Share-Based Compensation Expense

2,771

2,616

6,917

6,531

Deferred Taxes

1,091

(361

)

254

(1,039

)

Other

(1,959

)

(58

)

1,111

(3,766

)

Amortization of Acquired Intangible Assets

1,352

1,287

2,606

2,584

Change in Working Capital

Accounts Receivable

(25,414

)

(32,744

)

(14,739

)

(18,907

)

Inventories

4,238

14,816

(12,101

)

(5,661

)

Prepaid Expenses and Other Current Assets

(970

)

(4,139

)

(4,408

)

(6,332

)

Accounts Payable and Accrued Expenses

6,629

7,836

(2,566

)

4,667

Cash Provided by Operating Activities

30,128

21,539

41,867

34,158

INVESTING ACTIVITIES

Capital Expenditures

(7,354

)

(9,574

)

(14,821

)

(13,607

)

Proceeds from Sale of Property, Plant and Equipment

—

—

—

1,040

Insurance Proceeds from Property Casualty Loss

—

—

—

1,000

Cash Used in Investing Activities

(7,354

)

(9,574

)

(14,821

)

(11,567

)

FINANCING ACTIVITIES

Repayments of Long-term Debt

(131

)

(12,147

)

(253

)

(46,930

)

Borrowing of Long-term Debt

1,306

7,334

1,306

17,334

Repurchase of Common Stock

(4,286

)

—

(4,286

)

—

Tax Withholding Payments for Share-Based Compensation

(6

)

(483

)

(7,736

)

(4,754

)

Dividends Paid

(1,173

)

(1,167

)

(1,227

)

(1,173

)

Finance Lease Payments

(782

)

(721

)

(1,544

)

(1,437

)

Cash Used in Financing Activities

(5,072

)

(7,184

)

(13,740

)

(36,960

)

Net Cash Provided by (Used in) Operating, Investing and Financing Activities

17,702

4,781

13,306

(14,369

)

Effect of Exchange Rate Changes on Cash

6,242

(368

)

9,169

(1,942

)

CASH AND CASH EQUIVALENTS

Net Change During the Period

23,944

4,413

22,475

(16,311

)

Balance at Beginning of Period

97,757

89,774

99,226

110,498

Balance at End of Period

$

121,701

$

94,187

$

121,701

$

94,187

Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures (Unaudited)

(In millions, except per share amounts)

Second Quarter 2025

Second Quarter 2024

Adjustments

Adjustments

Gross Profit

SG&A Expenses

Operating Income (Loss)

Pre-tax

Tax Effect

Net Income (Loss)

Diluted EPS

Gross Profit

SG&A Expenses

Operating Income (Loss)

Pre-tax

Tax Effect

Net Income (Loss)

Diluted EPS

GAAP As Reported

$

148.0

$

95.9

$

52.0

$

32.6

$

0.55

$

122.6

$

84.5

$

38.2

$

22.6

$

0.38

Non-GAAP Adjustments:

Purchase Accounting Amortization

1.4

—

1.4

1.4

(0.4

)

1.0

0.02

1.3

—

1.3

1.3

(0.4

)

0.9

0.02

Restructuring, Asset Impairment, Severance, and Other, net

—

(2.5

)

2.5

2.5

(0.6

)

1.9

0.03

—

(0.1

)

0.1

0.1

0.0

0.1

—

Adjustments Subtotal *

1.4

(2.5

)

3.9

3.9

(1.0

)

2.8

0.05

1.3

(0.2

)

1.5

1.5

(0.4

)

1.0

0.02

Adjusted (non-GAAP) *

$

149.3

$

93.4

$

55.9

$

35.4

$

0.60

$

123.9

$

84.3

$

39.6

$

23.6

$

0.40

* Note: Sum of reconciling items may differ from total due to rounding of individual components

First Six Months 2025

First Six Months 2024

Adjustments

Adjustments

Gross Profit

SG&A Expenses

Operating Income (Loss)

Pre-tax

Tax Effect

Net Income (Loss)

Diluted EPS

Gross Profit

SG&A Expenses

Operating Income (Loss)

Pre-tax

Tax Effect

Net Income (Loss)

Diluted EPS

GAAP As Reported

$

258.9

$

183.7

$

75.3

$

45.6

$

0.77

$

233.0

$

170.4

$

62.6

$

36.7

$

0.63

Non-GAAP Adjustments:

Purchase Accounting Amortization

2.6

—

2.6

2.6

(0.8

)

1.8

0.03

2.6

—

2.6

2.6

(0.8

)

1.8

0.03

Restructuring, Asset Impairment, Severance, and Other, net

—

(3.5

)

3.5

3.5

(0.9

)

2.6

0.04

—

(0.3

)

0.3

0.3

(0.1

)

0.3

—

Cyber Event Impact

—

—

—

—

—

—

—

—

0.4

(0.4

)

(0.4

)

0.1

(0.3

)

(0.01

)

Property Casualty Loss (1)

—

—

—

—

—

—

—

—

—

—

(1.0

)

0.2

(0.7

)

(0.01

)

Adjustments Subtotal *

2.6

(3.5

)

6.1

6.1

(1.6

)

4.5

0.08

2.6

0.1

2.5

1.6

(0.5

)

1.1

0.02

Adjusted (non-GAAP) *

$

261.5

$

180.2

$

81.4

$

50.0

$

0.85

$

235.6

$

170.5

$

65.1

$

37.8

$

0.64

(1) Represents property insurance (recovery) / loss

* Note: Sum of reconciling items may differ from total due to rounding of individual components

Reconciliation of Segment GAAP Financial Measures to Non-GAAP Financial Measures ("Currency-Neutral Net Sales", and "AOI")

(In millions)

Second Quarter 2025

Second Quarter 2024

AMS Segment

EAAA Segment

Consolidated *

AMS Segment

EAAA Segment

Consolidated *

Net Sales as Reported (GAAP)

$

239.4

$

136.1

$

375.5

$

215.0

$

131.6

$

346.6

Impact of Changes in Currency

0.2

(4.6

)

(4.4

)

—

—

—

Currency-Neutral Net Sales *

$

239.6

$

131.5

$

371.1

$

215.0

$

131.6

$

346.6

* Note: Sum of reconciling items may differ from total due to rounding of individual components

First Six Months 2025

First Six Months 2024

AMS Segment

EAAA Segment

Consolidated *

AMS Segment

EAAA Segment

Consolidated *

Net Sales as Reported (GAAP)

$

419.4

$

253.6

$

672.9

$

384.9

$

251.5

$

636.4

Impact of Changes in Currency

0.9

(1.0

)

(0.1

)

—

—

—

Currency-Neutral Net Sales *

$

420.3

$

252.6

$

672.9

$

384.9

$

251.5

$

636.4

* Note: Sum of reconciling items may differ from total due to rounding of individual components

Second Quarter 2025

Second Quarter 2024

AMS Segment

EAAA Segment

Consolidated *

AMS Segment

EAAA Segment

Consolidated *

GAAP Operating Income (Loss)

$

48.8

$

3.2

$

52.0

$

26.8

$

11.3

$

38.2

Non-GAAP Adjustments:

Purchase Accounting Amortization

—

1.4

1.4

—

1.3

1.3

Restructuring, Asset Impairment, Severance, and Other, net

—

2.5

2.5

0.1

—

0.1

Adjustments Subtotal *

—

3.9

3.9

0.1

1.3

1.5

AOI *

$

48.8

$

7.1

$

55.9

$

26.9

$

12.7

$

39.6

* Note: Sum of reconciling items may differ from total due to rounding of individual components

First Six Months 2025

First Six Months 2024

AMS Segment

EAAA Segment

Consolidated *

AMS Segment

EAAA Segment

Consolidated *

GAAP Operating Income (Loss)

$

68.0

$

7.3

$

75.3

$

45.0

$

17.6

$

62.6

Non-GAAP Adjustments:

Purchase Accounting Amortization

—

2.6

2.6

—

2.6

2.6

Cyber Event Impact

—

—

—

(0.2

)

(0.2

)

(0.4

)

Restructuring, Asset Impairment, Severance, and Other, net

0.7

2.8

3.5

0.3

0.1

0.3

Adjustments Subtotal *

0.7

5.4

6.1

—

2.5

2.5

AOI *

$

68.7

$

12.7

$

81.4

$

45.0

$

20.1

$

65.1

* Note: Sum of reconciling items may differ from total due to rounding of individual components

(in millions)

Second Quarter 2025

Second Quarter 2024

First Six Months 2025

First Six Months 2024

Last Twelve Months (LTM) Ended 6/29/2025

Fiscal Year 2024

Net Income as Reported (GAAP)

$

32.6

$

22.6

$

45.6

$

36.7

$

95.8

$

86.9

Income Tax Expense

11.6

8.6

15.7

13.4

28.9

26.6

Interest Expense (including debt issuance cost amortization)

4.4

6.2

8.9

12.6

19.5

23.2

Depreciation and Amortization (excluding debt issuance cost amortization)

9.6

9.1

18.7

18.4

37.6

37.3

Share-based Compensation Expense

2.8

2.6

6.9

6.5

13.3

12.9

Purchase Accounting Amortization

1.4

1.3

2.6

2.6

5.2

5.2

Restructuring, Asset Impairment, Severance, and Other, net

2.5

0.1

3.5

0.3

5.7

2.5

Cyber Event Impact

—

—

—

(0.4

)

(5.1

)

(5.5

)

Property Casualty Loss(1)

—

—

—

(1.0

)

(1.4

)

(2.3

)

Loss on Foreign Subsidiary Liquidation (2)

—

—

—

—

2.2

2.2

Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (AEBITDA)*

$

64.8

$

50.5

$

101.8

$

89.2

$

201.6

$

189.0

(1) Represents insurance recovery.

(2) In 2024 our Thailand subsidiary was substantially liquidated and the related cumulative translation adjustment was recognized in other expense.

* Note: Sum of reconciling items may differ from total due to rounding of individual components

The impacts of changes in foreign currency presented in the tables are calculated based on applying the prior year period's average foreign currency exchange rates to the current year period.

The Company believes that the above non-GAAP performance measures, which management uses in managing and evaluating the Company’s business, may provide users of the Company’s financial information with additional meaningful basis for comparing the Company’s current results and results in a prior period, as these measures reflect factors that are unique to one period relative to the comparable period. However, these non‑GAAP performance measures should be viewed in addition to, and not as an alternative for, the Company’s reported results under accounting principles generally accepted in the United States. Tax effects identified above (when applicable) are calculated using the statutory tax rate for the jurisdictions in which the charge or income occurred.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250801982850/en/

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