tile-20261004

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________

Form 10-Q

þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended October 4, 2026

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 001-33994

INTERFACE INC

(Exact name of registrant as specified in its charter)


Georgia						58-1451243
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)


1280 West Peachtree Street	Atlanta	Georgia	30309
(Address of principal executive offices)			(zip code)

Registrant’s telephone number, including area code: (770) 437-6800

Securities Registered Pursuant to Section 12(b) of the Act:


Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, $0.10 Par Value Per Share	TILE	Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

☐

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No þ

Number of shares outstanding of each of the registrant’s classes of common stock, as of November 5, 2026:


Class			Number of Shares
Common Stock, $0.10 par value per share			57,800,460

TABLE OF CONTENTS


			Page
PART I.	FINANCIAL INFORMATION

	Item 1.	Financial Statements (Unaudited)	3

		Consolidated Condensed Balance Sheets – October 4, 2026 and December 28, 2025	3

		Consolidated Condensed Statements of Operations – Three Months and Nine Months Ended October 4, 2026 and September 28, 2025	4

		Consolidated Condensed Statements of Comprehensive Income – Three Months and Nine Months Ended October 4, 2026 and September 28, 2025	5

		Consolidated Condensed Statements of Cash Flows – Nine Months Ended October 4, 2026 and September 28, 2025	6

		Notes to Consolidated Condensed Financial Statements	7

	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	30

	Item 3.	Quantitative and Qualitative Disclosures about Market Risk	40

	Item 4.	Controls and Procedures	41

PART II.	OTHER INFORMATION

	Item 1.	Legal Proceedings	42

	Item 1A.	Risk Factors	42

	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	43

	Item 3.	Defaults Upon Senior Securities	44

	Item 4.	Mine Safety Disclosures	44

	Item 5.	Other Information	44

	Item 6.	Exhibits	45

SIGNATURE			46

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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

INTERFACE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED BALANCE SHEETS

(in thousands, except par values)


	OCTOBER 4, 2026		DECEMBER 28, 2025
	(UNAUDITED)
ASSETS
Current assets
Cash and cash equivalents	$	81,077	$	71,323
Accounts receivable, net	176,715		174,457
Inventories, net	305,382		275,014
Prepaid expenses and other current assets	43,296		34,048
Total current assets	606,470		554,842
Property, plant and equipment, net	311,902		309,449
Operating lease right-of-use assets	90,513		78,191
Deferred tax assets	24,609		25,272
Goodwill and intangible assets, net	156,065		163,012
Other assets	77,984		75,756

Total assets	$	1,267,543	$	1,206,522

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	88,812	$	64,768
Accrued expenses	152,904		147,770
Current portion of operating lease liabilities	13,096		15,748
Current portion of long-term debt	8,791		8,778
Total current liabilities	263,603		237,064
Long-term debt	121,422		172,801
Operating lease liabilities	81,744		67,205
Deferred income taxes	22,738		23,365
Other long-term liabilities	64,490		65,413

Total liabilities	553,997		565,848

Commitments and contingencies (Note 14)

Shareholders’ equity
Preferred stock, par value $1.00 per share; 5,000 shares authorized; none issued or outstanding at October 4, 2026 and December 28, 2025	—		—
Common stock, par value $0.10 per share; 120,000 shares authorized; 57,800 and 57,891 shares issued and outstanding at October 4, 2026 and December 28, 2025, respectively	5,780		5,789
Additional paid-in capital	227,189		248,910
Retained earnings	626,863		517,980
Accumulated other comprehensive loss – foreign currency translation	(108,642)		(92,691)
Accumulated other comprehensive loss – pension liability	(37,644)		(39,314)

Total shareholders’ equity	713,546		640,674

Total liabilities and shareholders’ equity	$	1,267,543	$	1,206,522

See accompanying notes to consolidated condensed financial statements.

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INTERFACE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

(in thousands, except per share data)


	THREE MONTHS ENDED				NINE MONTHS ENDED
	OCTOBER 4, 2026		SEPTEMBER 28, 2025		OCTOBER 4, 2026		SEPTEMBER 28, 2025
Net sales	$	366,736	$	364,526	$	1,093,471	$	1,037,461
Cost of sales	217,991		220,894		639,921		634,889
Gross profit	148,745		143,632		453,550		402,572

Selling, general and administrative expenses	92,436		90,272		289,995		273,938
Operating income	56,309		53,360		163,555		128,634

Interest expense, net	2,246		4,211		7,285		13,069
Other expense, net	1,131		659		3,622		5,773

Income before income tax expense	52,932		48,490		152,648		109,792
Income tax expense	13,712		2,344		38,410		18,083

Net income	$	39,220	$	46,146	$	114,238	$	91,709

Earnings per share – basic	$	0.68	$	0.79	$	1.97	$	1.57
Earnings per share – diluted	$	0.67	$	0.78	$	1.95	$	1.55

Common shares outstanding – basic	57,800		58,371		57,943		58,453
Common shares outstanding – diluted	58,376		59,134		58,565		59,155

See accompanying notes to consolidated condensed financial statements.

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INTERFACE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)

(in thousands)


	THREE MONTHS ENDED				NINE MONTHS ENDED
	OCTOBER 4, 2026		SEPTEMBER 28, 2025		OCTOBER 4, 2026		SEPTEMBER 28, 2025
Net income	$	39,220	$	46,146	$	114,238	$	91,709
Other comprehensive (loss) income, after tax:
Foreign currency translation adjustment	(6,102)		(2,356)		(15,951)		46,923
Pension liability adjustment	442		1,015		1,670		(1,462)
Other comprehensive (loss) income	(5,660)		(1,341)		(14,281)		45,461

Comprehensive income	$	33,560	$	44,805	$	99,957	$	137,170

See accompanying notes to consolidated condensed financial statements.

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INTERFACE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(in thousands)


	NINE MONTHS ENDED
	OCTOBER 4, 2026		SEPTEMBER 28, 2025
OPERATING ACTIVITIES:
Net income	$	114,238	$	91,709
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	29,801		29,166
Share-based compensation expense	13,007		10,541
Deferred income taxes	1,029		(10,321)
Amortization of acquired intangible assets	—		3,073
Other	(5,358)		(1,509)
Working capital changes:
Accounts receivable	(4,469)		(8,610)
Inventories	(34,897)		(10,912)
Prepaid expenses and other current assets	(9,840)		743
Accounts payable and accrued expenses	34,676		14,716

Cash provided by operating activities	138,187		118,596

INVESTING ACTIVITIES:
Capital expenditures	(31,607)		(25,477)

Cash used in investing activities	(31,607)		(25,477)

FINANCING ACTIVITIES:
Borrowings of long-term debt	101,768		4,579
Repayments of long-term debt	(153,502)		(380)
Repurchases of common stock	(20,795)		(5,143)
Tax withholding payments for share-based compensation	(13,990)		(8,372)
Dividends paid	(5,355)		(2,397)
Finance lease payments	(2,855)		(2,282)

Cash used in financing activities	(94,729)		(13,995)

Net cash provided by operating, investing and financing activities	11,851		79,124
Effect of exchange rate changes on cash	(2,097)		9,005

CASH AND CASH EQUIVALENTS:
Net increase	9,754		88,129
Balance, beginning of period	71,323		99,226

Balance, end of period	$	81,077	$	187,355

See accompanying notes to consolidated condensed financial statements.

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INTERFACE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

References in this Quarterly Report on Form 10-Q to “Interface,” “the Company,” “we,” “our,” “ours” and “us” refer to Interface, Inc. and its subsidiaries or any of them, unless the context requires otherwise.

As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10-Q, the following footnotes have been condensed and, therefore, do not contain all disclosures required in connection with annual financial statements. Reference should be made to the Company’s year-end financial statements and notes thereto contained in its Annual Report on Form 10-K for the fiscal year ended December 28, 2025, as filed with the Commission.

The financial information included in this report has been prepared by the Company. In the opinion of management, the financial information included in this report contains all adjustments necessary for a fair presentation of the results for the interim periods. All such adjustments are of a normal recurring nature unless otherwise disclosed. Nevertheless, the results shown for interim periods are not necessarily indicative of results to be expected for the full year. The December 28, 2025, consolidated condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States (“GAAP”).

The nine-month period ended October 4, 2026 includes 40 weeks and the nine-month period ended September 28, 2025 includes 39 weeks. The three-month periods ended October 4, 2026 and September 28, 2025 both include 13 weeks.

Risks and Uncertainties

Ongoing global economic challenges including but not limited to inflation, government-imposed tariffs, supply chain disruptions, disruptions in global energy markets, the Russia-Ukraine war and conflicts in the Middle East, and slow market conditions in certain parts of the globe could cause economic uncertainty and volatility. The Company considered these impacts and subsequent general uncertainties and volatility in the global economy on the assumptions and estimates used herein. These uncertainties could result in a future material adverse effect to the amounts reported within the Company’s consolidated condensed financial statements if actual results differ from these estimates.

Accounting Policies

The Company’s accounting policies are set forth in its most recently filed Annual Report on Form 10-K. There have been no material changes to the Company’s accounting policies during the first nine months of 2026. During the first quarter of 2026, the U.S. Supreme Court ruled that tariffs previously paid under the International Emergency Economic Powers Act (“IEEPA”) were invalid. The Company elected to apply the gain contingency model to account for potential tariff refunds previously paid under the IEEPA. Under this model, a gain contingency is not recognized in the financial statements until the gain is realized or realizable.

During the second quarter of 2026, the Company recognized approximately $15.6 million in refunds for tariffs previously paid under the IEEPA, which were recognized as a reduction to cost of sales in the consolidated condensed statements of operations. In connection with these tariff refunds, the Company also recorded approximately $0.5 million of interest income, presented as a reduction to interest expense, net in the consolidated condensed statements of operations. As of October 4, 2026, any outstanding requests for IEEPA tariff refunds are not material.

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Recently Issued Accounting Pronouncements – Not Yet Adopted

In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-06 - “Intangibles--Goodwill and Other--Internal Use Software (Subtopic 350-40)”. This ASU amends the accounting for internal-use software costs by removing reference to prescriptive and sequential software development stages used to evaluate capitalizable costs. The ASU requires entities to consider whether significant uncertainties associated with development activities have been resolved prior to capitalization of software costs and aligns disclosure requirements with Accounting Standards Codification (“ASC”) 360, “Property, Plant, and Equipment”. The new guidance in ASU 2025-06 is effective for annual periods beginning after December 15, 2027, and interim periods within those annual reporting periods, and may be applied prospectively, retrospectively, or using a modified retrospective approach. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, “Income Statement Reporting--Comprehensive Income-- Expense Disaggregation Disclosures (Subtopic 220-40)”. This ASU requires public entities to provide additional footnote disclosures to disaggregate the cost and expense line items presented in the income statement into specific categories including (a) purchases of inventory; (b) employee compensation; (c) depreciation; and (d) intangible asset amortization. The ASU also requires qualitative disclosure of other relevant expense categories not separately disclosed, the total amount of selling expenses, and the definition of selling expenses in annual reporting periods. The new guidance in ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

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NOTE 2 – REVENUE RECOGNITION

The Company generates revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material, and from the installation of carpet and other flooring-related material. A summary of these revenue streams, as a percentage of consolidated net sales, for the three and nine months ended October 4, 2026 and September 28, 2025 is as follows:


	Three Months Ended		Nine Months Ended
	October 4, 2026	September 28, 2025	October 4, 2026	September 28, 2025
Revenue from the sale of flooring material	97%	97%	98%	98%
Revenue from installation of flooring material	3%	3%	2%	2%

Disaggregation of Revenue

For the three and nine months ended October 4, 2026 and September 28, 2025, revenue from the Company’s customers is broken down by geography as follows:


	Three Months Ended		Nine Months Ended
Geography	October 4, 2026	September 28, 2025	October 4, 2026	September 28, 2025
Americas	60%	60%	61%	61%
Europe	29%	30%	29%	29%
Asia-Pacific	11%	10%	10%	10%

Revenue from the Company’s customers in the Americas corresponds to the AMS reportable segment, and the EAAA reportable segment includes revenue from the Europe and Asia-Pacific geographies. See Note 10 entitled “Segment Information” for additional information.

For the three and nine months ended October 4, 2026 and September 28, 2025, revenue by material market segment as a percentage of consolidated totals is as follows:


	Three Months Ended		Nine Months Ended
Market Segment	October 4, 2026	September 28, 2025	October 4, 2026	September 28, 2025
Corporate Office	45%	45%	44%	44%
Education	20%	19%	21%	21%
Healthcare	11%	10%	11%	10%
Other	24%	26%	24%	25%

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NOTE 3 – INVENTORIES

Inventories are summarized as follows:


	October 4, 2026		December 28, 2025
	(in thousands)
Finished goods	$	223,608	$	205,115
Work-in-process	22,340		17,418
Raw materials	59,434		52,481
Inventories, net	$	305,382	$	275,014

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NOTE 4 – EARNINGS PER SHARE

The Company computes basic earnings per share (“EPS”) by dividing net income by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings.

The Company includes all unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding for basic EPS as these awards are considered participating securities. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock and are considered participating securities. As a result, the Company includes all outstanding restricted stock awards during the period in the calculation of basic and diluted EPS. As of October 4, 2026, there were no unvested restricted stock awards. Any unvested share-based awards considered non-participating securities (restricted share units and performance shares) are included in diluted EPS calculations when the inclusion of these shares would be dilutive. The following table shows the computation of basic and diluted EPS:


	Three Months Ended				Nine Months Ended
	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
	(in thousands, except per share data)
Numerator:
Net income (1)	$	39,220	$	46,146	$	114,238	$	91,709

Denominator:
Weighted average shares outstanding	57,800		58,371		57,943		58,407
Participating securities	—		—		—		46
Shares for basic EPS	57,800		58,371		57,943		58,453
Dilutive effect of non-participating securities	576		763		622		702
Shares for diluted EPS	58,376		59,134		58,565		59,155

Basic EPS	$	0.68	$	0.79	$	1.97	$	1.57
Diluted EPS	$	0.67	$	0.78	$	1.95	$	1.55

(1) Income attributable to participating securities for the nine-month period ended September 28, 2025 was not material.

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NOTE 5 – LONG-TERM DEBT

Long-term debt consisted of the following:


	October 4, 2026				December 28, 2025
	Outstanding Principal		Interest Rate(1)		Outstanding Principal		Interest Rate(1)
	(in thousands)				(in thousands)
Syndicated Credit Facility:(2)
Revolving loan borrowings	$	1,739	5.64	%	$	6,158	6.07	%
Term loan borrowings	128,603		5.05	%	175,621		5.09	%
Total borrowings under Syndicated Credit Facility	130,342		5.06	%	181,779		5.12	%

Total debt	130,342				181,779
Less: Unamortized debt issuance costs	(129)				(200)

Total debt, net	130,213				181,579
Less: Current portion of long-term debt	(8,791)				(8,778)

Total long-term debt, net	$	121,422			$	172,801

(1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility without the effect of debt issuance costs.

(2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $250 million.

Syndicated Credit Facility

The Company’s Syndicated Credit Facility (the “Facility”) provides to the Company U.S. denominated and multicurrency term loans and provides to the Company and certain of its subsidiaries a multicurrency revolving loan facility. Each of the Company’s material domestic subsidiaries guarantees the obligations of the Company under its Facility. The Facility matures December 3, 2030. At October 4, 2026, the Company had available borrowing capacity of $247.7 million under the revolving loan facility.

Interest on base rate loans is charged at varying rates computed by applying a margin depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on Secured Overnight Financing Rate (“SOFR”)-based and alternative currency loans is charged at varying rates computed by applying a margin over the applicable SOFR or alternative currency rate, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. In addition, the Company pays a commitment fee per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility.

Fees for commercial letters of credit are computed as a percentage of the amount available to be drawn under such letters of credit. Fees for standby letters of credit are charged at varying rates computed by applying a margin of the amount available to be drawn under such standby letters of credit, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter.

Under the Facility, the Company is required to make quarterly amortization payments on the term loan borrowings, which are due on the last day of the calendar quarter.

The Company is in compliance with all covenants under the Facility and anticipates that it will remain in compliance with the covenants for the foreseeable future.

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Future Maturities

The aggregate maturities of borrowings outstanding at October 4, 2026 were as follows:


Fiscal Year	Amount
	(in thousands)
Remainder of 2026	$	2,198
2027	8,791
2028	8,791
2029	8,791
2030	101,771
Total debt	$	130,342

Total long-term debt in the consolidated condensed balance sheets includes a reduction for unamortized debt issuance costs, which are excluded from the maturities table above.

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NOTE 6 – SHAREHOLDERS’ EQUITY

The following tables depict the activity in the accounts which make up shareholders’ equity for the three and nine months ended October 4, 2026 and September 28, 2025:


	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		PENSION LIABILITY		TOTAL
	(in thousands, except per share data)
Balance, at December 28, 2025	57,891	$	5,789	$	248,910	$	517,980	$	(92,691)	$	(39,314)	$	640,674
Net income	—	—		—		23,611		—		—		23,611
Issuances of stock related to restricted share units and performance shares	1,065	106		(106)		—		—		—		—
Cash dividends declared, $0.03 per common share	—	—		—		(1,882)		—		—		(1,882)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(440)	(44)		(8,818)		—		—		—		(8,862)
Share repurchases	(461)	(46)		(11,954)		—		—		—		(12,000)
Foreign currency translation adjustment	—	—		—		—		(8,344)		—		(8,344)
Pension liability adjustment	—	—		—		—		—		1,388		1,388
Balance, at April 5, 2026	58,055	$	5,805	$	228,032	$	539,709	$	(101,035)	$	(37,926)	$	634,585
Net income	—	—		—		51,407		—		—		51,407
Issuances of stock related to restricted share units and performance shares	58	5		(5)		—		—		—		—
Cash dividends declared, $0.03 per common share	—	—		—		(1,739)		—		—		(1,739)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(3)	—		4,572		—		—		—		4,572
Share repurchases	(310)	(30)		(8,765)		—		—		—		(8,795)
Foreign currency translation adjustment	—	—		—		—		(1,505)		—		(1,505)
Pension liability adjustment	—	—		—		—		—		(160)		(160)
Balance, at July 5, 2026	57,800	$	5,780	$	223,834	$	589,377	$	(102,540)	$	(38,086)	$	678,365
Net income	—	—		—		39,220		—		—		39,220

Cash dividends declared, $0.03 per common share	—	—		—		(1,734)		—		—		(1,734)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	—	—		3,355		—		—		—		3,355

Foreign currency translation adjustment	—	—		—		—		(6,102)		—		(6,102)
Pension liability adjustment	—	—		—		—		—		442		442
Balance, at October 4, 2026	57,800	$	5,780	$	227,189	$	626,863	$	(108,642)	$	(37,644)	$	713,546

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	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		PENSION LIABILITY		TOTAL
	(in thousands, except per share data)
Balance, at December 29, 2024	58,304	$	5,830	$	261,028	$	405,441	$	(143,317)	$	(39,834)	$	489,148
Net income	—	—		—		13,002		—		—		13,002
Issuances of stock related to restricted share units and performance shares	658	66		(66)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(641)		—		—		(641)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(352)	(35)		(3,546)		—		—		—		(3,581)
Foreign currency translation adjustment	—	—		—		—		15,834		—		15,834
Pension liability adjustment	—	—		—		—		—		(695)		(695)
Balance, at March 30, 2025	58,610	$	5,861	$	257,416	$	417,802	$	(127,483)	$	(40,529)	$	513,067
Net income	—	—		—		32,561		—		—		32,561
Issuances of stock related to restricted share units and performance shares	1	—		—		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(586)		—		—		(586)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	—	—		2,765		—		—		—		2,765
Share repurchases	(218)	(22)		(4,423)		—		—		—		(4,445)
Foreign currency translation adjustment	—	—		—		—		33,445		—		33,445
Pension liability adjustment	—	—		—		—		—		(1,782)		(1,782)
Balance, at June 29, 2025	58,393	$	5,839	$	255,758	$	449,777	$	(94,038)	$	(42,311)	$	575,025
Net income	—	—		—		46,146		—		—		46,146
Issuances of stock related to restricted share units	54	5		(5)		—		—		—		—
Cash dividends declared, $0.02 per common share	—	—		—		(1,170)		—		—		(1,170)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(24)	(2)		2,991		—		—		—		2,989
Share repurchases	(32)	(3)		(695)		—		—		—		(698)
Foreign currency translation adjustment	—	—		—		—		(2,356)		—		(2,356)
Pension liability adjustment	—	—		—		—		—		1,015		1,015
Balance, at September 28, 2025	58,391	$	5,839	$	258,049	$	494,753	$	(96,394)	$	(41,296)	$	620,951

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Repurchases of Common Stock

In May 2022, the Company adopted a share repurchase program in which the Company is authorized to repurchase up to $100 million of its outstanding shares of common stock. The program has no specific expiration date. During the nine months ended October 4, 2026, the Company repurchased 771,125 shares of common stock at a weighted average price of $26.90 per share pursuant to this program.

Stock Incentive Plan

The Company has share-based employee compensation plans, which are described more fully in Note 13 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025.

Restricted Share Unit Awards

Compensation expense related to the restricted share units was $5.5 million and $4.6 million for the nine months ended October 4, 2026 and September 28, 2025, respectively. The Company has reduced its expense for any restricted share units forfeited during the period.

The following table summarizes restricted share units outstanding as of October 4, 2026, as well as activity during the nine months then ended:


	Restricted Share Units	Weighted Average Grant Date Fair Value
Outstanding at December 28, 2025	797,400	$	15.88
Granted	256,000	31.04
Vested	(487,500)	13.95
Forfeited or canceled	(11,500)	20.54
Outstanding at October 4, 2026	554,400	$	24.48

As of October 4, 2026, the unrecognized total compensation cost related to unvested restricted share units was $9.1 million. That cost is expected to be recognized by the second quarter of 2029.

Performance Share Awards

The following table summarizes the performance shares outstanding as of October 4, 2026, as well as the activity during the nine months then ended:


	Performance Shares	Weighted Average Grant Date Fair Value
Outstanding at December 28, 2025	1,070,300	$	14.04
Granted	399,200	21.53
Vested	(635,500)	10.79
Forfeited or canceled	(14,900)	19.34
Outstanding at October 4, 2026	819,100	$	20.11

Compensation expense related to the performance shares was $7.5 million and $5.5 million for the nine months ended October 4, 2026 and September 28, 2025, respectively. The Company has reduced its expense for any performance shares forfeited during the period. Unrecognized compensation expense related to these performance shares was approximately $11.1 million as of October 4, 2026. The amount and timing of future compensation expense will depend on the performance of the Company. The compensation expense related to these outstanding performance shares is expected to be recognized by the first quarter of 2029.

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The tax benefit recognized with respect to restricted share units and performance shares was approximately $1.5 million for the nine months ended October 4, 2026.

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NOTE 7 – LEASES

The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of October 4, 2026 and December 28, 2025:


	October 4, 2026				December 28, 2025
Balance Sheet Location	Operating Leases		Finance Leases		Operating Leases		Finance Leases
	(in thousands)
Operating lease right-of-use assets	$	90,513			$	78,191

Current portion of operating lease liabilities	$	13,096			$	15,748
Operating lease liabilities	81,744				67,205
Total operating lease liabilities	$	94,840			$	82,953

Property, plant and equipment, net			$	10,480			$	9,574

Accrued expenses			$	3,501			$	3,155
Other long-term liabilities			7,368				6,817
Total finance lease liabilities			$	10,869			$	9,972

As of October 4, 2026, there were no significant leases that had not commenced.

Lease Costs


	Three Months Ended				Nine Months Ended
	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
	(in thousands)
Finance lease cost:
Amortization of right-of-use assets	$	1,008	$	883	$	3,071	$	2,600
Interest on lease liabilities	160		137		502		413
Operating lease cost	4,540		5,152		14,878		15,271
Short-term lease cost	108		116		379		412
Variable lease cost	768		1,007		2,246		2,496
Total lease cost	$	6,584	$	7,295	$	21,076	$	21,192

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Other Supplemental Information


	Three Months Ended				Nine Months Ended
	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	143	$	132	$	471	$	397
Operating cash flows for operating leases	4,806		4,696		15,846		13,743
Financing cash flows for finance leases	933		738		2,855		2,282
Right-of-use assets obtained in exchange for new finance lease liabilities	462		559		4,057		1,545
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	24,486		691		25,655		6,318

(1) During the three months ended October 4, 2026, the Company modified the lease on its manufacturing facility in Germany to extend the lease term for an additional 10 years.

Lease Term and Discount Rate

The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of October 4, 2026 and December 28, 2025:


	October 4, 2026		December 28, 2025
Weighted-average remaining lease term – finance leases (in years)	3.92		4.07
Weighted-average remaining lease term – operating leases (in years)	13.38		7.05
Weighted-average discount rate – finance leases	5.70	%	6.52	%
Weighted-average discount rate – operating leases	6.96	%	6.33	%

Maturity Analysis

A maturity analysis of lease payments under non-cancellable leases is presented as follows:


Fiscal Year	Operating Leases		Finance Leases
	(in thousands)
2026 (excluding the nine months ended October 4, 2026)	$	4,762	$	1,054
2027	17,869		3,845
2028	14,183		2,887
2029	11,825		1,899
2030	8,906		1,185
Thereafter	95,729		1,245
Total future minimum lease payments (undiscounted)	153,274		12,115
Less: Present value discount	(58,434)		(1,246)
Total lease liabilities	$	94,840	$	10,869

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NOTE 8 – EMPLOYEE BENEFIT PLANS

The Company has defined benefit and multi-employer pension plans, which are described more fully in Note 18 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025.

During the three-month and nine-month periods ended October 4, 2026, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.8 million and $2.4 million, respectively. During the three-month and nine-month periods ended September 28, 2025, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.8 million and $2.1 million, respectively.

The following tables provide the components of net periodic benefit cost for the three and nine months ended October 4, 2026 and September 28, 2025:


	Three Months Ended				Nine Months Ended
Defined Benefit Retirement Plans (Europe)	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
	(in thousands)
Interest cost	$	1,845	$	1,961	$	5,551	$	5,703
Expected return on plan assets	(1,766)		(2,094)		(5,314)		(6,093)
Amortization of prior service cost	47		48		142		139
Amortization of net actuarial losses	407		405		1,225		1,178
Net periodic benefit cost	$	533	$	320	$	1,604	$	927


	Three Months Ended				Nine Months Ended
Salary Continuation Plan	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
	(in thousands)
Interest cost	$	256	$	274	$	768	$	823
Amortization of net actuarial losses	63		47		190		142
Net periodic benefit cost	$	319	$	321	$	958	$	965


	Three Months Ended				Nine Months Ended
nora Defined Benefit Plan	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
	(in thousands)
Service cost	$	93	$	115	$	282	$	329
Interest cost	307		281		926		806
Amortization of net actuarial gains	(187)		(91)		(565)		(263)
Net periodic benefit cost	$	213	$	305	$	643	$	872

The service cost component of net periodic benefit costs is presented within operating income in the consolidated condensed statements of operations, while all other components of net periodic benefit costs are presented within other expense, net, in the consolidated condensed statements of operations.

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NOTE 9 – GOODWILL AND OTHER INTANGIBLE ASSETS

The ending balance and the change in the carrying amount of goodwill for the nine months ended October 4, 2026 is as follows:


	Goodwill(1)
	(in thousands)
Balance, at December 28, 2025	$	112,127
Foreign currency translation(2)	(4,702)
Balance, at October 4, 2026	$	107,425

(1) The goodwill balance is allocated entirely to the AMS reportable segment.

(2) A portion of the goodwill balance is comprised of goodwill denominated in a foreign currency attributable to the nora acquisition.

The net carrying value of intangible assets other than goodwill was $48.6 million and $50.9 million at October 4, 2026 and December 28, 2025, respectively.

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NOTE 10 – SEGMENT INFORMATION

The Company determines that an operating segment exists if a component (i) engages in business activities from which it earns revenues and incurs expenses, (ii) has operating results that are regularly reviewed by the chief operating decision maker (“CODM”) and (iii) has discrete financial information. Additionally, accounting standards require the utilization of a “management approach” to report the financial results of operating segments, which is based on information used by the CODM to assess performance and make operating and resource allocation decisions. The Company determined that it has two operating segments organized by geographical area – namely (a) Americas (“AMS”) and (b) Europe, Africa, Asia and Australia (collectively “EAAA”). The AMS operating segment includes the United States, Canada and Latin America geographic areas.

Pursuant to the management approach discussed above, the Company’s CODM, our chief executive officer, evaluates performance at the AMS and EAAA operating segment levels and makes operating and resource allocation decisions based on segment adjusted operating income (“AOI”). The CODM uses AOI to evaluate segment operating results compared to expectations. AOI is also used by the CODM to develop variable compensation targets and make capital spend decisions. AOI excludes restructuring, asset impairment, severance, and other, net, and nora purchase accounting amortization. Intersegment revenues for the three and nine months ended October 4, 2026, were $43.1 million and $106.2 million, respectively, and intersegment revenues for the three and nine months ended September 28, 2025, were $28.6 million and $92.4 million, respectively. Intersegment revenues are eliminated from net sales presented below since these amounts are not included in the information provided to the CODM.

The Company has determined that it has two reportable segments – AMS and EAAA, as each operating segment meets the quantitative thresholds defined in the accounting guidance.

The following table outlines information by reportable segment including net sales, significant segment expenses, and AOI. The table also includes a reconciliation to income before taxes for the three and nine months ended October 4, 2026 and September 28, 2025.


	Three Months Ended
	October 4, 2026						September 28, 2025
	AMS		EAAA		TOTAL		AMS		EAAA		TOTAL
	(in thousands)
Net sales	$	219,364	$	147,372	$	366,736	$	218,614	$	145,912	$	364,526

Less: significant segment expenses (1)
Adjusted cost of sales (2)	125,355		92,636				127,566		92,862
Adjusted selling, general, & administrative expenses (3)	52,780		38,743				50,572		39,380
Segment AOI	41,229		15,993		57,222		40,476		13,670		54,146
Reconciliation of AOI to income before taxes
Restructuring, severance, asset impairment and other, net					913						319
Purchase accounting amortization					—						467

Interest expense, net					2,246						4,211
Other expense, net					1,131						659
Income before taxes					$	52,932					$	48,490

(1) Significant segment expense categories and amounts align with segment level information that is regularly provided to the CODM, included in the measure of segment profit, and considered to be significant. Amounts include allocation of corporate overhead and global support costs. Intersegment expenses are excluded.

(2) Adjusted cost of sales excludes purchase accounting amortization.

(3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net.

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	Nine Months Ended
	October 4, 2026						September 28, 2025
	AMS		EAAA		TOTAL		AMS		EAAA		TOTAL
	(in thousands)
Net sales	$	662,701	$	430,770	$	1,093,471	$	637,994	$	399,467	$	1,037,461

Less: significant segment expenses (1)
Adjusted cost of sales (2)	368,441		271,480				371,134		260,683
Adjusted selling, general, & administrative expenses (3)	168,149		120,507				157,676		112,459
Segment AOI	126,111		38,783		164,894		109,184		26,325		135,509
Reconciliation of AOI to income before taxes
Restructuring, severance, asset impairment and other, net					1,339						3,802
Purchase accounting amortization					—						3,073
Interest expense, net					7,285						13,069
Other expense, net					3,622						5,773
Income before taxes					$	152,648					$	109,792

(2) Adjusted cost of sales excludes purchase accounting amortization.

(3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net.

Segment depreciation and amortization for the three and nine months ended October 4, 2026 and September 28, 2025 is presented as follows:



	Three Months Ended				Nine Months Ended
	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
	(in thousands)				(in thousands)
Depreciation and amortization
AMS	$	4,870	$	4,748	$	14,469	$	14,075
EAAA	5,135		5,188		15,332		15,091
Total depreciation and amortization	$	10,005	$	9,936	$	29,801	$	29,166

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A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts is presented as follows:


	October 4, 2026		December 28, 2025
	(in thousands)
Assets
AMS	$	671,121	$	660,189
EAAA	662,889		619,663
Total segment assets	1,334,010		1,279,852
Corporate assets	117,581		98,853
Eliminations	(184,048)		(172,183)
Total reported assets	$	1,267,543	$	1,206,522

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NOTE 11 – SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental cash flow information for the nine months ended October 4, 2026 and September 28, 2025 is presented in the following table:


	Nine Months Ended
	October 4, 2026		September 28, 2025
	(in thousands)
Cash paid for interest	$	8,735	$	9,183

See Note 7 entitled “Leases” for additional supplemental disclosures related to finance and operating leases.

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NOTE 12 – INCOME TAXES

The Company determines its provision for income taxes for interim periods using an estimate of its annual effective tax rate (“AETR”) and records any changes affecting the estimated AETR in the interim period in which the change occurs, including discrete tax items.

During the nine months ended October 4, 2026, the Company recorded a total income tax provision of $38.4 million on pre-tax income of $152.6 million resulting in an effective tax rate of 25.2%, as compared to a total income tax provision of $18.1 million on pre-tax income of $109.8 million resulting in an effective tax rate of 16.5% during the nine months ended September 28, 2025. The increase in the effective tax rate for the nine months ended October 4, 2026 as compared to the nine months ended September 28, 2025, was primarily due to statutory tax rate changes requiring the remeasurement and adjustment of deferred taxes as discussed below partially offset by an increase in deductions related to foreign-derived income.

In July 2025, Germany enacted tax legislation to gradually reduce the corporate income tax rate. The current income tax rate of 15% is set to decrease by 1% annually beginning in 2028 reaching 10% by 2032. As a result of this change to tax rates, deferred tax assets and liabilities were remeasured using the new rates applicable to the periods in which the underlying temporary differences are expected to reverse. The remeasurement of the Company’s German deferred tax positions and other deferred tax adjustments resulted in a favorable deferred income tax benefit of $10.4 million for the nine months ended September 28, 2025.

On December 20, 2021, the Organization for Economic Co-operation and Development (“OECD”) published Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD has since issued administrative guidance providing transition and safe harbor rules around the implementation of the Pillar Two global minimum tax. Many non-U.S. tax jurisdictions have enacted legislation to adopt the Pillar Two Model Rules beginning in 2024 (including the European Union Member States) or announced plans to enact legislation in future years. For fiscal year 2026, we expect to meet the Transitional Country-by-Country Reporting (“CbCR”) Safe Harbor rules for most jurisdictions and do not expect these provisions to have a material impact on the Company’s financial statements. We will continue to closely monitor ongoing developments and evaluate any potential impact on future periods.

In 2026, the OECD issued a Side-by-Side package (“SbS”) that simplifies Pillar Two, creates new safe harbors, fully exempts U.S. parent groups from two of the three top-up taxes, and extends the CbCR Safe Harbor through fiscal year 2027. In certain jurisdictions, local legislative action is needed to effectuate the SbS agreement and will be considered in our accounting estimate upon enactment.

As of October 4, 2026, the Company had accrued approximately $5.3 million for unrecognized tax benefits.

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NOTE 13 – ITEMS RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

Amounts reclassified out of accumulated other comprehensive loss (“AOCL”), before tax, to the consolidated condensed statements of operations during the three and nine months ended October 4, 2026 and September 28, 2025 are reflected in the tables below:


		Three Months Ended				Nine Months Ended
	Statement of Operations Location	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
		(in thousands)				(in thousands)
Amortization of benefit plan net actuarial losses and prior service cost	Other expense, net	$	(330)	$	(409)	$	(992)	$	(1,196)
Total loss reclassified from AOCL		$	(330)	$	(409)	$	(992)	$	(1,196)

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NOTE 14 – COMMITMENTS AND CONTINGENCIES

From time to time, we are a party to legal proceedings, whether arising in the ordinary course of business or otherwise. For additional information see disclosures set forth in Note 17 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025. There have been no material changes since December 28, 2025.

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NOTE 15 – FAIR VALUE OF FINANCIAL INSTRUMENTS

Accounting standards establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure estimated fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under applicable accounting standards are described below:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 Inputs to the valuation methodology include:

•quoted prices for similar assets in active markets;

•quoted prices for identical or similar assets in inactive markets;

•inputs other than quoted prices that are observable for the asset; and

•inputs that are derived principally from or corroborated by observable data by correlation or other.

Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The following table presents the carrying values and estimated fair values, including the level within the fair value hierarchy, of certain financial instruments:


	October 4, 2026						December 28, 2025
	Carrying Value		Fair Value (Level 1)		Fair Value (Level 2)		Carrying Value		Fair Value (Level 1)		Fair Value (Level 2)
	(in thousands)
Assets:
Company-owned life insurance	$	23,211	$	—	$	23,211	$	23,048	$	—	$	23,048
Deferred compensation investments	36,032		8,890		27,142		33,728		8,941		24,787

Liabilities(1):
Borrowings under Syndicated Credit Facility(2)	130,342		—		130,342		181,779		—		181,779

(1) Carrying values are presented gross, excluding the impact of unamortized debt issuance costs and including amounts presented as current liabilities on the consolidated condensed balance sheets.

(2) The carrying value of borrowings under the Facility approximates fair value as the Facility bears variable interest rates that are similar to existing market rates. The fair value of borrowings under the Facility is estimated using observable market rates.

The fair value of Company-owned life insurance is measured based on its readily determinable cash surrender value on a recurring basis.

Assets associated with the Company’s nonqualified savings plans are held in a rabbi trust and consist of investments in mutual funds and insurance contracts. The fair value of the mutual funds is derived from quoted prices in active markets. The fair value of the insurance contracts is based on observable inputs related to the performance measurement funds that shadow the deferral investment allocations made by participants in the nonqualified savings plans.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Our discussions below in this Item 2 are based upon the more detailed discussions about our business, operations and financial condition included in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025, under Part II, Item 7 of that Form 10-K. Our discussions here focus on our results during the quarter and nine months ended October 4, 2026, or as of, October 4, 2026, and the comparable periods of 2025, and to the extent applicable, any material changes from the information discussed in that Form 10-K or other important intervening developments or information since that time. These discussions should be read in conjunction with that Form 10-K for more detailed and background information. The nine-month period ended October 4, 2026 includes 40 weeks and the nine-month period ended September 28, 2025 includes 39 weeks. The three-month periods ended October 4, 2026 and September 28, 2025 both include 13 weeks.

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Executive Overview

During the quarter ended October 4, 2026, we had consolidated net sales of $366.7 million, up 0.6% compared to $364.5 million in the third quarter last year as favorable prices were partially offset by lower sales volume and the deferral of certain retail market segment renovation projects into future periods. Consolidated operating income was $56.3 million for the third quarter of 2026 compared to $53.4 million in the third quarter last year, primarily due to higher gross profit margin mostly driven by favorable product mix partially offset by higher tariff costs. Consolidated net income for the quarter ended October 4, 2026, was $39.2 million, or $0.67 per diluted share, compared to $46.1 million, or $0.78 per diluted share, in the third quarter last year. Prior year net income was impacted by an income tax benefit related to certain deferred tax adjustments. See Note 12 entitled “Income Taxes” of Part 1, Item 1 of this Quarterly Report on Form 10-Q for additional information.

During the first nine months of 2026, we had consolidated net sales of $1,093.5 million, up 5.4% compared to $1,037.5 million in the first nine months of last year, primarily due to higher customer demand partially driven by an extra week in the first nine months of 2026 compared to the first nine months of 2025. Consolidated operating income was $163.6 million for the first nine months of 2026, compared to $128.6 million in the same period last year, primarily due to higher sales and higher gross profit margin driven by IEEPA tariff refunds as discussed below and favorable product mix. Consolidated net income for the nine months ended October 4, 2026, was $114.2 million, or $1.95 per diluted share, compared to $91.7 million, or $1.55 per diluted share, in the same period last year.

Impact of Macroeconomic Trends

Macroeconomic conditions including inflation, energy market volatility, interest rates, evolving trade policies and tariffs, supply chain challenges, financial pressures in the commercial office market, and geopolitical conflicts may increase our costs and impact the demand for our products, which may adversely affect our future financial performance. We continue to evaluate our cost structure and global manufacturing footprint to identify and activate opportunities to reduce costs and optimize operating efficiency.

In 2025, the U.S. government imposed a series of higher tariffs on goods imported into the U.S. As a result, the Company incurred higher tariff costs on rubber and luxury vinyl tile products imported into the U.S. in the second half of fiscal year 2025 and in the first nine months of 2026. In February 2026, the U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were invalid. During the second quarter of 2026, the Company recognized approximately $15.6 million in refunds for tariffs previously paid under the IEEPA. These refunds were recognized as a reduction to cost of sales in the consolidated condensed statements of operations. The Company also recorded approximately $0.5 million of interest income associated with these tariff refunds, presented as a reduction to interest expense, net in the consolidated condensed statements of operations. As of October 4, 2026, any outstanding requests for IEEPA tariff refunds are not material.

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Analysis of Results of Operations

Consolidated Results

The following table presents, as a percentage of net sales, certain items included in our consolidated condensed statements of operations for the three-month and nine-month periods ended October 4, 2026 and September 28, 2025:


	Three Months Ended				Nine Months Ended
	October 4, 2026		September 28, 2025		October 4, 2026		September 28, 2025
Net sales	100.0	%	100.0	%	100.0	%	100.0	%
Cost of sales	59.4		60.6		58.5		61.2
Gross profit	40.6		39.4		41.5		38.8
Selling, general and administrative expenses	25.2		24.8		26.5		26.4
Operating income	15.4		14.6		15.0		12.4
Interest/Other expense, net	1.0		1.3		1.0		1.9
Income before income tax expense	14.4		13.3		14.0		10.5
Income tax expense	3.7		0.6		3.6		1.7
Net income	10.7	%	12.7	%	10.4	%	8.8	%

Consolidated Net Sales

Below is information regarding our consolidated net sales, and analysis of those results, for the three-month and nine-month periods ended October 4, 2026, and September 28, 2025:


	Three Months Ended				Percentage Change		Nine Months Ended				Percentage Change
	October 4, 2026		September 28, 2025				October 4, 2026		September 28, 2025
	(in thousands)						(in thousands)
Consolidated net sales	$	366,736	$	364,526	0.6	%	$	1,093,471	$	1,037,461	5.4	%

For the quarter ended October 4, 2026, consolidated net sales increased $2.2 million (0.6%) versus the comparable period in 2025, mostly due to higher average sales prices (approximately 1%) partially offset by lower sales volume. Currency fluctuations had no material impact on consolidated net sales for the third quarter of 2026 compared to the same period last year. On a market segment basis, the sales increase was primarily in the corporate office, education, and healthcare market segments, partially offset by lower sales in the retail market segment.

For the nine months ended October 4, 2026, consolidated net sales increased $56.0 million (5.4%) versus the comparable period in 2025, primarily due to higher sales volume (approximately 3%) partially driven by an extra week in the first nine months of 2026, higher average sales prices (approximately 1%), and favorable currency fluctuations of approximately $19.9 million (approximately 2%) from the strengthening of the Euro and Australian dollar against the U.S. dollar. On a market segment basis, the sales increase was primarily in the corporate office, healthcare, and education market segments.

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Consolidated Cost and Expenses

The following table presents our consolidated cost of sales and selling, general and administrative expenses for the three-month and nine-month periods ended October 4, 2026, and September 28, 2025:


	Three Months Ended				Percentage Change		Nine Months Ended				Percentage Change
	October 4, 2026		September 28, 2025				October 4, 2026		September 28, 2025
	(in thousands)						(in thousands)
Consolidated cost of sales	$	217,991	$	220,894	(1.3)	%	$	639,921	$	634,889	0.8	%
Consolidated selling, general and administrative expenses	92,436		90,272		2.4	%	289,995		273,938		5.9	%

Consolidated Cost of Sales

For the quarter ended October 4, 2026, consolidated cost of sales decreased $2.9 million (1.3%) compared to the third quarter of 2025, primarily due to lower sales volume partially offset by higher tariff costs ($1.7 million). Currency translation had no material impact on consolidated cost of sales in the third quarter of 2026 compared to the same period last year. As a percentage of net sales, our cost of sales decreased to 59.4% for the third quarter of 2026 versus 60.6% for the third quarter of 2025.

For the nine months ended October 4, 2026, consolidated cost of sales increased $5.0 million (0.8%) versus the comparable period in 2025, primarily due to higher sales partially offset by the impact of IEEPA tariff refunds. Currency translation had a negative impact on consolidated cost of sales for the first nine months of 2026 and partially increased our costs by approximately $13.0 million (2.1%) compared to the same period last year. As a percentage of net sales, our cost of sales decreased to 58.5% for the first nine months of 2026 versus 61.2% for the first nine months of 2025.

Consolidated Gross Profit

For the quarter ended October 4, 2026, gross profit, as a percentage of net sales, was 40.6% compared with 39.4% in the same period last year. The increase in gross profit percentage was primarily due to favorable product mix and pricing (approximately 1%) partially offset by higher tariff costs.

For the nine months ended October 4, 2026, gross profit, as a percentage of net sales, was 41.5% compared with 38.8% in the same period last year. The increase in gross profit percentage was primarily due to lower costs (approximately 1%) driven by IEEPA tariff refunds, higher sales volume and product mix (approximately 1%), and higher average sales prices (approximately 1%).

Consolidated Selling, General and Administrative (“SG&A”) Expenses

For the quarter ended October 4, 2026, consolidated SG&A expenses increased $2.2 million (2.4%) versus the comparable period in 2025, primarily due to higher employee labor and benefits costs of $3.3 million partially offset by lower variable compensation of $1.8 million. Currency translation had no material impact on consolidated SG&A expenses in the third quarter of 2026 compared to the same period last year. As a percentage of net sales, SG&A expenses were 25.2% for the third quarter of 2026 and 24.8% for the third quarter of 2025.

For the nine months ended October 4, 2026, consolidated SG&A expenses increased $16.1 million (5.9%) versus the comparable period in 2025. Currency translation had a negative impact on consolidated SG&A expenses of approximately $4.1 million (approximately 2%) in the first nine months of 2026 compared to the same period last year. SG&A expenses were higher for the first nine months of 2026 primarily due to (i) higher variable compensation of $9.0 million; (ii) higher employee labor and benefits costs of $5.7 million; (iii) higher advertising costs of $2.0 million mostly driven by a new product launch; and (iv) higher professional fees of $2.3 million. These increases were partially offset by lower severance costs of $2.4 million due to employee reduction initiatives recognized in the comparable prior year period. As a percentage of net sales, SG&A expenses increased to 26.5% for the first nine months of 2026 versus 26.4% for the first nine months of 2025.

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Interest Expense

During the quarter ended October 4, 2026, interest expense was $2.2 million, a decrease of $2.0 million from the comparable period in 2025, primarily due to lower outstanding borrowings as our formerly outstanding senior notes were redeemed in December 2025. For the nine months ended October 4, 2026, interest expense was $7.3 million, a decrease of $5.8 million from the comparable period in 2025, primarily due to lower outstanding borrowings as discussed above.

Provision for Income Taxes

The effective tax rate for the three and nine months ended October 4, 2026, was 25.9% and 25.2%, respectively, compared to 4.8% and 16.5% for the same periods in 2025. The increase in the effective tax rate for the three and nine months ended October 4, 2026, compared to the same periods in the prior year was primarily due to statutory tax rate changes requiring the remeasurement and adjustment of deferred taxes which resulted in a tax benefit in fiscal year 2025, partially offset by an increase in deductions related to foreign-derived income. See Note 12 entitled “Income Taxes” of Part 1, Item 1 of this Quarterly Report on Form 10-Q for additional information.

Segment Operating Results

AMS Segment – Net Sales and Adjusted Operating Income (“AOI”)

The following table presents AMS segment net sales and AOI for the three-month and nine-month periods ended October 4, 2026, and September 28, 2025:


	Three Months Ended				Percentage Change		Nine Months Ended				Percentage Change
	October 4, 2026		September 28, 2025				October 4, 2026		September 28, 2025
	(in thousands)						(in thousands)
AMS segment net sales	$	219,364	$	218,614	0.3	%	$	662,701	$	637,994	3.9	%
AMS segment AOI(1)	41,229		40,476		1.9	%	126,111		109,184		15.5	%

(1) Includes allocation of corporate and global support SG&A expenses. Excludes restructuring, asset impairment, severance, and other, net. See Note 10 entitled “Segment Information” of Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.

During the third quarter of 2026, net sales in AMS increased 0.3% versus the comparable period in 2025, primarily due to higher average sales prices partially offset by lower volume. On a market segment basis, the AMS sales increase was primarily in the education, corporate office, and healthcare market segments partially offset by a decrease in the retail market segment.

During the first nine months of 2026, net sales in AMS increased 3.9% versus the comparable period in 2025, primarily due to higher sales volume and higher average blended sales prices on favorable price / mix. On a market segment basis, the AMS sales increase was primarily in the corporate office, healthcare, and education market segments.

AOI in AMS increased 1.9% during the third quarter of 2026 compared to the prior year period, primarily due to higher gross profit margin driven by higher average sales prices partially offset by higher tariff costs. As a percentage of net sales, AOI increased to 18.8% during the third quarter of 2026 compared to 18.5% in the same period last year.

AOI in AMS increased 15.5% during the first nine months of 2026 compared to the prior year period, primarily due to higher sales and higher gross profit margin mostly driven by the impact of IEEPA tariff refunds and product mix. As a percentage of net sales, AOI increased to 19.0% during the first nine months of 2026 compared to 17.1% in the same period last year.

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EAAA Segment – Net Sales and AOI

The following table presents EAAA segment net sales and AOI for the three-month and nine-month periods ended October 4, 2026, and September 28, 2025:


	Three Months Ended				Percentage Change		Nine Months Ended				Percentage Change
	October 4, 2026		September 28, 2025				October 4, 2026		September 28, 2025
	(in thousands)						(in thousands)
EAAA segment net sales	$	147,372	$	145,912	1.0	%	$	430,770	$	399,467	7.8	%
EAAA segment AOI(1)	15,993		13,670		17.0	%	38,783		26,325		47.3	%

(1) Includes allocation of corporate and global support SG&A expenses. Excludes restructuring, asset impairment, severance and other, net and purchase accounting amortization. See Note 10 entitled “Segment Information” of Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.

During the third quarter of 2026, net sales in EAAA increased 1.0% versus the comparable period in 2025, primarily due to higher sales volume and favorable currency fluctuations of approximately $1.0 million (0.7%) from the strengthening of the Australian dollar against the U.S. dollar partially offset by the weakening of the Euro against the U.S. dollar. On a market segment basis, the EAAA sales increase was primarily in the public buildings market segment partially offset by decreases in transportation and education market segments.

During the first nine months of 2026, net sales in EAAA increased 7.8% versus the comparable period in 2025, primarily due to higher sales volume and favorable currency fluctuations of approximately $19.6 million (4.9%) from the strengthening of the Euro and Australian dollar against the U.S. dollar. On a market segment basis, the EAAA sales increase was primarily in the corporate office, public buildings, and education market segments.

AOI in EAAA increased 17.0% during the third quarter of 2026 versus the comparable period in 2025, primarily due to higher sales and higher gross profit margin driven by production efficiencies and favorable product mix. Currency fluctuations had no material impact on EAAA AOI for the third quarter of 2026 compared to the same period last year. As a percentage of net sales, AOI increased to 10.9% during the third quarter of 2026 compared to 9.4% in the same period last year.

AOI in EAAA increased 47.3% during the first nine months of 2026 versus the comparable period in 2025, primarily due to higher sales and gross profit margin as discussed above. Currency fluctuations had a positive impact on AOI of approximately $3.0 million (5.2%) for the first nine months of 2026 compared to the same period in 2025. As a percentage of net sales, AOI increased to 9.0% during the first nine months of 2026 compared to 6.6% in the same period last year.

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Financial Condition, Liquidity and Capital Resources

General

At October 4, 2026, the Company had $81.1 million in cash. At that date, the Company had $128.6 million in term loan borrowings, $1.7 million in revolving loan borrowings, and $0.6 million in letters of credit outstanding under our Facility. As of October 4, 2026, we had additional borrowing capacity of $247.7 million under the Facility. We anticipate that our liquidity is sufficient to meet our obligations for the next 12 months, and we expect to generate sufficient cash to meet our long-term obligations.

Balance Sheet

Accounts receivable, net, were $176.7 million at October 4, 2026, compared to $174.5 million at December 28, 2025. The increase of $2.3 million was primarily due to the impact of higher net sales as a result of increased customer demand during fiscal year 2026.

Inventories, net, were $305.4 million at October 4, 2026, compared to $275.0 million at December 28, 2025. The increase of $30.4 million was primarily due to higher finished goods inventory driven by increased production volumes and higher customer demand.

Analysis of Cash Flows

The following table presents a summary of cash flows for the nine-month periods ended October 4, 2026 and September 28, 2025, respectively:


	Nine Months Ended
	October 4, 2026		September 28, 2025
	(in thousands)
Net cash provided by (used in):
Operating activities	$	138,187	$	118,596
Investing activities	(31,607)		(25,477)
Financing activities	(94,729)		(13,995)
Effect of exchange rate changes on cash	(2,097)		9,005
Net change in cash and cash equivalents	9,754		88,129
Cash and cash equivalents at beginning of period	71,323		99,226
Cash and cash equivalents at end of period	$	81,077	$	187,355

Cash provided by operating activities was $138.2 million for the nine months ended October 4, 2026, which represents an increase of $19.6 million from the prior year comparable period, primarily attributable to higher net income for the nine months ended October 4, 2026, partially offset by a higher use of cash related to inventory build as discussed above.

Cash used in investing activities was $31.6 million for the nine months ended October 4, 2026, which represents an increase of $6.1 million from the prior year comparable period, primarily attributable to a continued capital investment in manufacturing automation and robotics solutions during the first nine months of 2026.

Cash used in financing activities was $94.7 million for the nine months ended October 4, 2026, which represents an increase of $80.7 million from the prior year comparable period. The year-over-year increase was primarily due to higher repayments of borrowings under the Facility, including a prepayment of $40.6 million on the outstanding term loan borrowings. The increase was additionally driven by higher repurchases of common stock during the first nine months of 2026 compared to the prior year.

Share Repurchases

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Outlook

Based on our third quarter and year to date 2026 results, we anticipate revenue growth for fiscal year 2026 compared to the prior year comparable period. However, during the third quarter of 2026, we experienced softer conditions in EAAA, particularly in Europe, which contributed to lower year over year orders received for that area, which may negatively impact future net sales. We also anticipate that our fourth quarter 2026 will be impacted by higher input costs amid increased global macroeconomic uncertainty.

Cash flows from operations, cash and cash equivalents, and other sources of liquidity are expected to be available and sufficient to meet foreseeable cash requirements. However, the Company’s cash flows from operations can be affected by numerous factors including raw material availability and cost, and demand for our products.

Backlog

As of October 19, 2026, the consolidated backlog of unshipped orders was approximately $256.7 million. As disclosed in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025, backlog was approximately $222.8 million as of February 2, 2026. Historically, backlog is subject to significant fluctuations due to the timing of orders for individual large projects. Disruptions in supply and distribution chains or delays in construction projects and flooring installations worldwide have caused, and may continue to cause, fluctuations in our backlog.

Forward-Looking Statements

This report contains statements which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Words such as “believes,” “anticipates,” “plans,” “expects,” “projects,” “estimates” and similar expressions are intended to identify forward-looking statements. 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 those contemplated by such forward-looking statements.

Forward-looking statements in this report include, without limitation, any statements regarding our anticipated revenue growth for fiscal year 2026; the anticipated impact on our fourth quarter 2026 results from higher input costs amid increased global macroeconomic uncertainty; the sufficiency of our liquidity, cash flows from operations, cash and cash equivalents, and other sources of liquidity to meet our obligations and foreseeable cash requirements; our expectation that we will remain in compliance with the covenants under our Syndicated Credit Facility; the expected timing of recognition of unrecognized share-based compensation expense; the expected impact of the OECD Pillar Two global minimum tax rules; and the effects of inflation, energy market volatility, interest rates, evolving trade policies and tariffs, supply chain challenges, financial pressures in the commercial office market, geopolitical conflicts and other macroeconomic factors.

Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include risks and uncertainties associated with the following:

•competition in the highly competitive floorcovering products market, including from competitors with greater financial resources, and challenges competing on price, product design or sustainability;

•non-cash impairment charges to goodwill or other intangible assets;

•our dependence on our senior management, our principal design consultant and other key personnel, and disruption from changes within our sales organization;

•changes in U.S. and foreign trade policies and tariffs, including retaliatory tariffs;

•economic, political, regulatory and other uncertainties associated with our substantial international operations, including recent softer conditions in our European business and the potential for continued sales deterioration in that market;

•risks related to our backlog, which historically has been subject to significant fluctuations due to the timing of orders for individual large projects, disruptions in supply and distribution chains or delays in construction projects and flooring installations worldwide, and which may not be fully realized into revenue;

•large increases in the cost of our raw materials, energy, shipping costs, duties or tariffs that we are unable to offset or pass through to our customers;

•the termination or interruption of our arrangements with our primary suppliers of synthetic fiber, luxury vinyl tile or other key raw materials;

•disruptions, increased costs, customer complaints or warranty claims resulting from changes to our facilities, manufacturing processes, product construction and product composition;

•losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, unstable geopolitical situations or other unexpected events;

•volatility in the market price of our common stock;

•adverse economic conditions and cycles affecting the new construction and renovation markets, particularly the corporate office market segment;

•disruptions to or failures of the information technology systems we use, including as a result of cybersecurity incidents;

•changes to environmental laws, regulations and industry standards regarding climate change and other sustainability matters, and our ability to meet our sustainability targets and commitments;

•the conflicts between Russia and Ukraine and in the Middle East;

•fluctuations in foreign currency exchange rates;

•our substantial indebtedness, our ability to generate sufficient cash flow to service it and comply with the covenants in our debt agreements, and our ability to incur additional indebtedness;

•litigation and claims; and

•other factors set forth under the title “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025, as the same may be amended or supplemented in any subsequent Quarter Reports on Form 10-Q.

In addition, factors currently unknown to us could cause actual results to differ materially from our forward-looking statements. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The discussion below in this Item 3 is based upon the more detailed discussions of our market risk and related matters included in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025, under Part II, Item 7A of that Form 10-K. The discussion here focuses on the nine months ended October 4, 2026, and any material changes from (or other important intervening developments since the time of) the information discussed in that Form 10-K. This discussion should be read in conjunction with that Form 10-K for more detailed and background information.

Sensitivity Analysis

For purposes of specific risk analysis, we use sensitivity analysis to measure the impact that market risk may have on the fair values of our market sensitive instruments. To perform sensitivity analysis, we assess the risk of loss in fair values associated with the impact of hypothetical changes in interest rates and foreign currency exchange rates on market sensitive instruments.

Because the debt outstanding under our Facility has variable interest rates based on an underlying prime lending rate, SOFR, or other benchmark rate, we do not believe changes in interest rates would have any significant impact on the fair value of that debt instrument. Changes in the underlying prime lending rate, SOFR, or other benchmark rate would, however, impact the amount of our interest expense. For a discussion of these hypothetical impacts on our interest expense, please see the discussion in Part II, Item 7A of our Annual Report on Form 10-K for the year ended December 28, 2025.

As of October 4, 2026, a 10% decrease or increase in the levels of foreign currency exchange rates against the U.S. dollar, with all other variables held constant, would result in a respective decrease or increase in the net fair value of our financial instruments of $10.7 million. As the impact of offsetting changes in the fair market value of our net foreign investments is not included in the sensitivity model, these results are not indicative of our actual exposure to foreign currency exchange risk.

ITEM 4. CONTROLS AND PROCEDURES

As of the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was performed under the supervision and with the participation of our management, including our President and Chief Executive Officer and our Vice President and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Act”), pursuant to Rule 13a-15(b) under the Act.

No system of controls, no matter how well designed and operated, can provide absolute assurance that the objectives of the system of controls are met, and no evaluation of controls can provide absolute assurance that the system of controls has operated effectively in all cases. Our disclosure controls and procedures, however, are designed to provide reasonable assurance that the objectives of disclosure controls and procedures are met.

Based on the evaluation, our President and Chief Executive Officer and our Vice President and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this Quarterly Report to provide reasonable assurance that the objectives of disclosure controls and procedures are met.

There were no changes in our internal control over financial reporting that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, we are a party to legal proceedings, whether arising in the ordinary course of business or otherwise. See Note 14 of Part I, Item 1 of this Quarterly Report on Form 10-Q and Note 17 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025, for summaries of some of those proceedings.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this report, you should carefully consider the risk factors disclosed in Part I, Item 1A, “Risk Factors,” of our Annual Report on Form 10-K for the fiscal year ended December 28, 2025. There have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table contains information with respect to purchases made by or on behalf of the Company, or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of our common stock during our third quarter ended October 4, 2026:


Period(1)	Total Number of Shares Purchased	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(2)	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs(2)
July 6 – August 2, 2026	—	$	—	—	$	43,912,724
August 3 – August 30, 2026	—	—		—	43,912,724
August 31 – October 4, 2026	—	—		—	43,912,724
Total	—	$	—	—

(1) The monthly periods identified above correspond to the Company’s fiscal third quarter of 2026, which commenced July 6, 2026 and ended October 4, 2026. There were no share repurchases during the third quarter of 2026.

(2) On May 17, 2022, the Company announced a share repurchase program authorizing the repurchase of up to $100 million of common stock. The program has no specific expiration date.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

During the three months ended October 4, 2026, no director or officer (as defined in Rule 16a-1(f) of the Exchange Act) of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.

ITEM 6. EXHIBITS

The following exhibits are filed or furnished with this report:


Exhibit Number			Description of Exhibit
31.1			Section 302 Certification of Chief Executive Officer.
31.2			Section 302 Certification of Chief Financial Officer.
32.1			Certification of Chief Executive Officer pursuant to 18 U.S.C. § 1350.
32.2			Certification of Chief Financial Officer pursuant to 18 U.S.C. § 1350.
101.INS			XBRL Instance Document – The Instance Document does not appear in the Interactive Data Files because its XBRL tags are embedded within the Inline XBRL document.
101.SCH			XBRL Taxonomy Extension Schema Document.
101.CAL			XBRL Taxonomy Extension Calculation Linkbase Document.
101.LAB			XBRL Taxonomy Extension Label Linkbase Document.
101.PRE			XBRL Taxonomy Presentation Linkbase Document.
101.DEF			XBRL Taxonomy Definition Linkbase Document.
104			The cover page from this Quarterly Report on Form 10-Q for the quarter ended October 4, 2026, formatted in Inline XBRL (included as Exhibit 101).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.