Interface (NASDAQ:TILE) Stock, Quote.Headers.trade-ideas

Interface

Interface Inc is engaged in the design, production, and sale of carpet tiles. It also provides Luxury Vinyl tiles and rubber flooring. The company mainly targets corporate and noncorporate office markets, including government, education, healthcare, hospitality, and retailers. Its geographical segments include the Americas, Europe, and Asia-Pacific. It has two operating and reportable segments - AMS and EAAA.

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Homebuilder and building product stocks may rise with potential Fed rate cut, as seen in past. BoA predicts higher valuations and outperformance.

Homebuilder Stocks Outperform Ahead Of Potential Rate Cuts — But What&#39;s Next?

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U.S. stock markets suffered a bloody blow in the first week of August. Wall Street&#39;s turmoil was triggered by weak labor market data, which heightened concerns of a near-term recession. The massive unwinding of Yen-carry trade due to an unexpected rate hike by the Bank of Japan aggravated the situation.

5 Stocks With Recent Price Strength in an Uncertain Market

CROX

A steady rise in income has been a challenge for the Federal Reserve in controlling sky-high inflation. However, inflation is finally showing signs of cooling, while wages continue to be on the rise. A steadily rising personal income is also allowing consumers to spend more freely.

4 Solid Stocks to Buy on a Steady Rise in Consumer Spending

Interface Inc

Tile Shop Holdings Inc

Homebuilder and building product stocks <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40882613/builders-first-source-other-homebuilder-stocks-rise-with-catalysts-such-as-mortgage">could see an upward trend</a> if the Federal Reserve cuts the key interest rate on Wednesday, based on historical performance, according to a major U.S. bank.
The Fed is expected to lower rates by either 25 or 50 basis points, marking the first change since July 2023 when it raised the rate to a range of 5% to 5.25%.
&#8220;Builders and building product stocks have outperformed in anticipation of rate cuts,&#8221; BofA Securities said in a note on Tuesday.
&#8220;Lower rates would benefit home demand.&#8221;
Homebuilder and building product stocks have rallied since early July as 30-year mortgage rates have fallen from 7% to roughly 6.2%, boosting new home demand and spending on home improvements, BofA said.
&#8220;In our view, the stock performance has been stronger than the improvement in underlying fundamentals as investors look through near-term weakness to a 2025 recovery fueled by lower mortgage rates and pent-up demand,&#8221; the note stated.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/07/39988310/homebuilder-stocks-rally-to-record-highs-on-rate-cut-frenzy-but-housing-sales-still-struggle">Homebuilder Stocks Rally To Record Highs On Rate-Cut Frenzy But Housing Sales Still Struggle</a>
&#8220;Housing sector outperformance ahead of rate cuts is consistent with prior cycles, but the magnitude and valuations are higher this time around. Stock performance following the first cut is more mixed although usually positive for homebuilders.&#8221;
BofA noted that homebuilders outperformed the S&amp;P 500 in the three months before three of the last five initial rate cuts, and building products outperformed in four of the last five.
In the last three months, homebuilder stocks have gone up 26% and building product shares have risen 13%, compared to the S&amp;P 500&#8217;s 2% uptick over the same period, BofA said.
&#8220;Assuming the Fed starts to cut rates in September, homebuilder and building product stocks will be trading at a higher valuation than going into any of the last five periods when the Fed started to cut.&#8221;
BofA also pointed out that homebuilders and building products typically underperform the S&amp;P 500 ahead of a recession but outperform it during and after a recession.
Price Action: Homebuilder stocks traded higher on Tuesday.
<ul>
<li>Pulte Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) rose 0.04% to $140.46.</li>
<li>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) was up 0.3% to $195.37.</li>
<li>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) gained 1.1% to $189.36.</li>
</ul>
Building products also saw gains and losses.
<ul>
<li>Antelope Enterprise Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHL#NASDAQ">AEHL</a>) rose 2.94% to $1.05.</li>
<li>Interface, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) dropped 1.37% to $18.76.</li>
<li>Technoglass Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGLS#NYSE">TGLS</a>) went up 1.12% to $67.51.</li>
</ul>
The S&amp;P 500, which is tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), was up 0.02% to 5,634.58.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40474111/toll-brothers-q3-earnings-revenue-beat-eps-beat-homes-delivered-up-11-backlog-down-10-momentum-into">Toll Brothers Q3 Earnings: Revenue Beat, EPS Beat, Homes Delivered Up 11%, Backlog Down 10%, Momentum Into August And More</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Homebuilder Stocks Outperform Ahead Of Potential Rate Cuts — But What's Next?

Interface, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>), the global flooring solutions company and leader in sustainability, today announced continued efforts to develop a circular economy with expanded capabilities at its recycling facility in Scherpenzeel, Netherlands.
The Scherpenzeel recycling plant will now use an innovative process to recycle post-consumer carpet tiles that cannot be reused, supporting Interface's commitment to circularity. This will enable the used products to be immediately returned to the production cycle and used to make new carpet tiles for the European market.

Global

Interface Expands Recycling Capabilities In Scherpenzeel, Netherlands To Advance Circularity Efforts

U.S. stock markets suffered a bloody blow in the first week of August. Wall Street&#39;s turmoil was triggered by weak labor market data, which heightened concerns of a near-term recession. The massive unwinding of Yen-carry trade due to an unexpected rate hike by the Bank of Japan aggravated the situation.
However, U.S. stock markets recovered their lost ground to a great extent within the next 3-4 trading sessions as more released data showed that the fundamentals of the U.S. economy remain firm. Market participants started to buy on the dip.
Consequently, a few stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here&#39;s how you should create the screen to shortlist the current as well as the potential winners.
<h2>Screening Parameters:</h2>
Percentage Change in Price (4 Weeks) greater than zero: This criterion shows that the stock has moved higher in the last four weeks.
Percentage Change Price (12 Weeks) greater than 10: This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.
Zacks Rank 1: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance.
Average Broker Rating 1: This indicates that brokers are also highly hopeful about the stock&#39;s future performance.
Current Price greater than 5: The stocks must all be trading at a minimum of $5.
Current Price/ 52-Week High-Low Range more than 85%: This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.
Just these few criteria narrowed down the search from over 7,700 stocks to seven.
Let&#39;s discuss five out of these seven stocks:
Climb Global Solutions Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clmb#NASDAQ">CLMB</a>) operates as a value-added information technology distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. CLMB operates in two segments, Distribution and Solutions. CLMB markets its products through its own web sites, local and on-line seminars, events, webinars, and social media, as well as direct email and printed materials.
CLMB distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions, and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.
The stock price of Climb Global Solutions has soared 55.2% in the past four weeks. The company has expected earnings growth of 7.4% for the current year. The Zacks Consensus Estimate for the current year has improved 0.001% over the last 60 days.
EZCORP Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ezpw#NASDAQ">EZPW</a>) is engaged in establishing, acquiring, and operating pawnshops that function as convenient sources of consumer credit and value-oriented specialty retailers of primarily previously owned merchandise. Through its lending function, EZPW makes relatively small, non-recourse loans secured by pledges of tangible personal property. EZPW contracts for a pawn service charge to compensate it for each pawn loan.
The stock price of EZCORP has climbed 15.3% in the past four weeks. It has an expected earnings growth rate of 22.8% for the current year (ending September 2024). The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the last 30 days.
Willdan Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wldn#NASDAQ">WLDN</a>) is a provider of professional technical and consulting services to utilities, private industry and public agencies at all levels of government. WLDN enables its clients to realize cost and energy savings by providing a wide range of specialized services.&nbsp;
WLDN assists its clients with a broad range of complementary services relating to: Energy Efficiency and Sustainability, Engineering and Planning, Economic and Financial Consulting, and National Preparedness and Interoperability.
The stock price of Willdan Group has surged 12.1% in the past four weeks. It has an expected earnings growth rate of 12.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 5.9% over the last 30 days.
Northwest Pipe Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nwpx#NASDAQ">NWPX</a>) manufactures welded steel pipe in two business segments. In Water Transmission business, NWPX is a supplier of large diameter, high-pressure steel pipe used primarily for water transmission. In Tubular Products business, NWPX manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications.
The stock price of Northwest Pipe has appreciated 10.4% in the past four weeks. It has an expected earnings growth rate of 41.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20.3% over the last 30 days.
Interface Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tile#NASDAQ">TILE</a>) designs, produces, and sells modular carpet products primarily worldwide. TILE operates in two segments, Americas, and Europe, Africa, Asia and Australia. TILE offers modular carpets under the Interface and FLOR brand names, luxury vinyl tiles, carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.&nbsp;
TILE also provides carpet replacement, installation, and maintenance services; and rubber flooring under the norament and noraplan brand names, as well as produces and sells an adapted version of its carpet tile for the healthcare facilities market.
The stock price of Interface has advanced 10.1% in the past four weeks. It has an expected earnings growth rate of 28% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 8.5% over the last 30 days.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
<a href="https://www.zacks.com/stock/news/2322398/5-stocks-with-recent-price-strength-in-an-uncertain-market?cid=CS-BENZ-FT-analyst_blog|rw-2322398">To read this article on Zacks.com click here.</a>

Barrington Research analyst Alexander Paris maintains Interface (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) with a Outperform and maintains $22 price target.

Price Target

Barrington Research Maintains Outperform on Interface, Maintains $22 Price Target

For the full fiscal year 2024:
<ul>
<li>Net sales of&nbsp;$1.30 billion&nbsp;to&nbsp;$1.32 billion.</li>
<li>Adjusted gross profit margin of approximately&nbsp;36.0%.</li>
<li>Adjusted SG&amp;A expenses of approximately&nbsp;$342 million.</li>
<li>Adjusted Interest &amp; Other expenses of approximately&nbsp;$27 million.</li>
<li>An adjusted effective tax rate for the full year of approximately&nbsp;27.5%.</li>
<li>Fully diluted weighted average share count of approximately 58.7 million shares.</li>
<li>Capital expenditures of approximately&nbsp;$42 million.</li>
</ul>

Guidance

Interface Raised 2024 Net Sales Outlook To $1.30B-$1.32B (Prior$1.29B-$1.31B) Vs. $1.298B Consensus; Sees Adjusted Gross Margin Of ~36.0

For the&nbsp;third quarter&nbsp;of 2024:
<ul>
<li>Net sales of&nbsp;$330 million&nbsp;to&nbsp;$340 million.</li>
<li>Adjusted gross profit margin of approximately&nbsp;36.0%.</li>
<li>Adjusted SG&amp;A expenses of approximately&nbsp;$86 million.</li>
<li>Adjusted Interest &amp; Other expenses of approximately&nbsp;$7 million.</li>
<li>Fully diluted weighted average share count of approximately 58.7 million shares.</li>
</ul>

Interface Sees Q3 Net Sales Of $330M-$340M Vs. $326.152M Est. And Adjusted Gross Margin Of ~36%

Interface (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) reported quarterly earnings of $0.40 per share which beat the analyst consensus estimate of $0.28 by 42.86 percent. This is a 60 percent increase over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $346.600 million which beat the analyst consensus estimate of $340.276 million by 1.86 percent. This is a 5.16 percent increase over sales of $329.582 million the same period last year.

Earnings Beats

Interface Q2 2024 Adj. EPS $0.40 Beats $0.28 Estimate, Sales $346.600M Beat $340.276M Estimate

A steady rise in income has been a challenge for the Federal Reserve in controlling sky-high inflation. However, inflation is finally showing signs of cooling, while wages continue to be on the rise. A steadily rising personal income is also allowing consumers to spend more freely.
The Commerce Department said on Jun 28 that personal income increased 0.5% in May, following a 0.3% jump in April. Wages increased 0.7% in May, which can raise concerns for the Federal Reserve, which has been struggling to fight inflation.
Disposable personal income, which is calculated after paying taxes, rose 0.5% in May. The personal savings rate also rose 3.9% in May after increasing 3.7% in April.&nbsp;
Despite a jump in the personal savings rate, consumers continued to spend. Consumer spending rose 0.2% in May after increasing 0.1% in April. Consumer spending, which accounts for two-thirds of the U.S. economic activity, got a boost from a 0.3% jump in spending on services.
Spending on goods also rebounded in May, increasing 0.2% month over month after a 0.5% decline in April.
The report comes as the Commerce Department said that inflation cooled further in May. The personal consumption expenditure (PCE) remained unchanged in May after increasing 0.3% in April. Year over year, the PCE price index rose 2.6% in May after increasing 2.7% in the prior month.
Inflation increased in the first quarter but finally started easing in April. The Federal Reserve also said that it is planning one 25 basis point rate cut. Market participants are pricing in the first rate cut in September.
Lower borrowing rates will give consumers more spending power, which bodes well for the broader economy.
<h3>Our Choices</h3>
Given this scenario, we have narrowed our search to four consumer discretionary stocks such as&nbsp;Royal Caribbean Cruises Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rcl#NYSE">RCL</a>), Crocs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crox#NASDAQ">CROX</a>), Interface, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tile#NASDAQ">TILE</a>) and PVH Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pvh#NYSE">PVH</a>) that have strong potential for 2024. These stocks have seen positive earnings estimate revisions in the last 60 days. Each of the stocks has a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Royal Caribbean Cruises Ltd. owns and operates three global brands &mdash; Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises. Additionally, RCL has a 50% investment in a joint venture with TUI AG, which operates the brand TUI Cruises. Royal Caribbean Cruises&#39; cruise brands primarily serve the contemporary, premium and deluxe segments of the cruise vacation industry, which also includes the budget and luxury segments.
Royal Caribbean Cruises&#39; expected earnings growth rate for the current year is 64%. The Zacks Consensus Estimate for current-year earnings has improved 6.1% over the past 60 days. RCL currently sports a Zacks Rank #1.
Crocs, Inc. is one of the leading footwear brands, with a focus on comfort and style. CROX offers a wide variety of footwear products, including sandals, wedges, flips and slides, that cater to people of all ages.
Crocs&#39; expected earnings growth rate for the current year is 6%. The Zacks Consensus Estimate for current-year earnings has improved 2% over the past 60 days.&nbsp;CROX presently has a Zacks Rank #2.
Interface, Inc. is the world&#39;s largest manufacturer of modular carpet, which it markets under the Interface and FLOR brands. TILE is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value.
Interface&#39;sexpected earnings growth rate for the current year is 18%. The Zacks Consensus Estimate for current-year earnings has improved 12.4% over the past 60 days. TILE presently carries a Zacks Rank #2.
PVH Corp. specializes in designing and marketing branded dress shirts, neckwear, sportswear, jeanswear, intimate apparel, swim products, footwear, handbags and related products. PVH&#39;s brands are sold globally at various price points and in channels of distribution.
PVH Corp&#39;s expected earnings growth rate for the current year is 5.2%. The Zacks Consensus Estimate for current-year earnings has improved 2.8% over the past 60 days. PVH presently carries a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2295485/4-solid-stocks-to-buy-on-a-steady-rise-in-consumer-spending?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2295485">To read this article on Zacks.com click here.</a>

Culp, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/culp#NYSE">CULP</a>) is scheduled to report fourth-quarter fiscal 2024 results on Jun 27, after market close. 
In the last reported quarter, the company&#39;s loss widened the Zacks Consensus Estimate by 62.5% but narrowed 64.4% year over year. Net sales beat the consensus mark by 2.5% and increased 15% year over year. 
CULP&#39;s earnings topped the consensus mark in three of the trailing four quarters and missed once, with an average being negative 2.6%.
<h3>The Trend in Estimate Revision</h3>
For the quarter to be reported, the Zacks Consensus Estimate for loss per share widened to 44 cents from 40 cents in the past 60 days. The estimated figure indicates a deterioration of 15.8% from the year-ago quarter&#39;s level of 38 cents. 
The consensus mark for net sales is pegged at $49.76 million, suggesting a 19% decline from the year-ago reported figure.
<h3>Key Factors to Note</h3>
Culp is likely to have generated lower net sales in the fiscal fourth quarter due to demand softness across the business. The company expects total net sales to be down from the prior-year period. This is due partly to the timing of the Chinese New Year holiday and weakness in demand impacting both segments, majorly in the residential upholstery fabrics business. 
Also, the internal inefficiencies relating to the startup and production of certain new products in mattress fabrics during the fiscal third quarter are likely to have affected the top line in the fiscal fourth quarter. 
Culp expects an operating loss to be comparable from the prior-year period.
<h3>What Our Quantitative Model Predicts</h3>
Our proven model does not conclusively predict an earnings beat for CULP this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that&#39;s not the case here, as you will see below. 
Earnings ESP: The company has an Earnings ESP of 0.00%. 
Zacks Rank: Culp currently carries a Zacks Rank #3.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the Zacks Consumer Discretionary industry. 
La-Z-Boy Incorporated&nbsp;presently flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 15.3%, on average. 
The consensus estimate for LZB&#39;s fiscal 2025 EPS indicates an improvement of 5% from the prior-year levels. The estimated figure moved up to $3.13 from $2.80 over the past seven days. 
SharkNinja Inc.&nbsp;presently flaunts a Zacks Rank #1. It has a trailing three-quarter earnings surprise of 12.2%, on average. 
The consensus estimate for SN&#39;s 2024 EPS indicates an improvement of 18.6% from the prior-year levels. The estimated figure moved up to $3.82 from $3.54 over the past 60 days. 
Interface, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tile#NASDAQ">TILE</a>) presently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 64%, on average. 
The consensus estimate for TILE&#39;s 2024 EPS indicates an improvement of 18% from the prior-year levels. The estimated figure moved up to $1.18 from $1.05 over the past 60 days.
<a href="https://www.zacks.com/stock/news/2293103/culp-gears-up-to-report-q4-earnings-what-s-in-the-offing?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2293103">To read this article on Zacks.com click here.</a>

Penny Stocks

CULP

CULP Gears Up to Report Q4 Earnings: What's in the Offing?

Barrington Research analyst Alexander Paris maintains Interface (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) with a Outperform and raises the price target from $20 to $22.

Barrington Research Maintains Outperform on Interface, Raises Price Target to $22

WIIM

Interface shares are trading higher after the company reported better-than-expected Q1 financial results, issued Q2 net sales guidance above estimates and raised FY24 net sales guidance above estimates.

<h3>Gainers</h3>
<ul>
<li>XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) stock moved upwards by 9.2% to $119.0 during Friday's pre-market session. The market value of their outstanding shares is at $13.8 billion. The company's, Q1 earnings came out today. </li>
<li>1847 Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#AMEX">EFSH</a>) shares rose 8.8% to $2.72. The market value of their outstanding shares is at $14.3 million. </li>
<li>Astra Space (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTR#NASDAQ">ASTR</a>) stock moved upwards by 7.75% to $0.7. The company's market cap stands at $15.8 million. </li>
<li>Interface (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) shares moved upwards by 6.24% to $16.85. The market value of their outstanding shares is at $983.4 million. As per the news, the Q1 earnings report came out today. </li>
<li>Volato Group (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#AMEX">SOAR</a>) shares moved upwards by 6.14% to $1.9. The market value of their outstanding shares is at $55.5 million. </li>
<li>SKYX Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYX#NASDAQ">SKYX</a>) stock moved upwards by 5.82% to $1.09. The market value of their outstanding shares is at $105.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Stem (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) shares declined by 15.2% to $1.62 during Friday's pre-market session. The market value of their outstanding shares is at $261.6 million. As per the news, the Q1 earnings report came out yesterday. </li>
<li>Custom Truck One Source (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTOS#NYSE">CTOS</a>) shares declined by 12.25% to $4.3. The market value of their outstanding shares is at $1.0 billion. As per the press release, Q1 earnings came out yesterday. </li>
<li>Terran Orbital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLAP#NYSE">LLAP</a>) stock fell 10.86% to $1.15. The market value of their outstanding shares is at $232.2 million. </li>
<li>Asure Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASUR#NASDAQ">ASUR</a>) stock decreased by 9.8% to $7.18. The market value of their outstanding shares is at $184.9 million. The company's, Q1 earnings came out yesterday. </li>
<li>Perma-Fix Envirn Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PESI#NASDAQ">PESI</a>) stock fell 8.8% to $11.62. The company's market cap stands at $158.8 million. </li>
<li>Fluor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) shares decreased by 6.48% to $38.57. The market value of their outstanding shares is at $6.5 billion. The company's, Q1 earnings came out today. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

ASTR

ASUR

CTOS

EFSH

LLAP

PESI

SKYX

SOAR

STEM

12 Industrials Stocks Moving In Friday's Pre-Market Session

Interface Raised FY24 Net Sales Outlook To $1.29B-$1.31B (From $1.26B-$1.28B Prior) Vs. Cons. $1.27B

Interface Sees Q2 Net Sales Of $335M-$345M Vs. $330.6M Est.

Interface (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) reported quarterly earnings of $0.24 per share which beat the analyst consensus estimate of $0.12 by 100 percent. The company reported quarterly sales of $289.743 million which beat the analyst consensus estimate of $285.018 million by 1.66 percent. This is a 2.05 percent decrease over sales of $295.792 million the same period last year.

Interface Q1 2024 Adj EPS $0.24 Beats $0.12 Estimate, Sales $289.743M Beat $285.018M Estimate

MGM Resorts International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) is scheduled to report first-quarter 2024 results on May 1, 2024, after the closing bell. 
In the last reported quarter, the company&#39;s earnings and revenues topped the Zacks Consensus Estimate by 58.2% and 6.9%, respectively.
<h3>What Do the Estimates Say?</h3>
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 60 cents, indicating an increase of 36.4% from 44 cents reported in the year-ago quarter. 
For revenues, the consensus mark is pegged at nearly $4.18 billion. The metric suggests an increase of 8% from the year-ago quarter&#39;s figure.
<div class="chart_embed">
<h3>MGM Resorts International Price and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/MGM/price-eps-surprise?icid=chart-MGM-price-eps-surprise"><img alt="MGM Resorts International Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/77/1714395816.png" style="height:263px; width:538px" title="" /> </a>
MGM Resorts International price-eps-surprise | MGM Resorts International Quote
</div>
Let&#39;s take a look at how things have shaped up in the quarter.
<h3>Factors to Note</h3>
MGM Resorts&#39; first-quarter top line is likely to have gained from pent-up consumer demand, high domestic casino spending and robust demand for sports betting. This and increased visitation in the Macau market are likely to have aided the company&#39;s performance in the to-be-reported quarter. 
The company&#39;s domestic performance is likely to have gained profit from major events, including the inaugural Formula 1 race and its first Super Bowl accompanied by the launch of its Marriott relationship. Also, enhancements in omnichannel marketing offerings and opportunities to increase its convention room nights and international mix, are likely to have aided the company&#39;s performance in the to-be-reported quarter. 
The Zacks Consensus Estimate for first-quarter 2024 revenues at MGM China is pegged at $922 million compared with $618 million reported in the year-ago quarter. 
Solid contributions from rooms, food and beverage and casino are likely to have driven the company&#39;s first-quarter top line. The Zacks Consensus Estimate for revenues at rooms and food and beverage is pegged at $908 million and $746 million, suggesting a year-over-year increase from $848 million and $722 million, respectively. The consensus mark for first-quarter casino revenues is pegged at $1.99 billion, indicating a rise from $1.88 billion reported in the year-ago period. 
Incremental expenses related to labor, incentive fees and other related expenses are concerns for the bottom line of the company. Nonetheless, its initiatives to improve productivity and reduce the cost of sales through leveraging procurement activities are likely to have more than offset these headwinds in the to-be-reported quarter.
<h3>What the Zacks Model Unveils</h3>
Our proven model predicts a likely earnings beat for MGM Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. 
Earnings ESP: MGM Resorts has an Earnings ESP of +24.65%. 
Zacks Rank: The company has a Zacks Rank of 3.
<h3>Stocks Poised to Beat Earnings Estimates</h3>
Here are some stocks from the Zacks Consumer Discretionary sector, which, according to our model, have the right combination of elements to post an earnings beat: 
Interface, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tile#NASDAQ">TILE</a>) currently has an Earnings ESP of +16.67% and a Zacks Rank of 1. 
TILE&#39;s earnings for the to-be-reported quarter are expected to increase 71.4%. It reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining one occasion, the average surprise being 29.9%. 
DraftKings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dkng#NASDAQ">DKNG</a>) currently has an Earnings ESP of +12.65% and a Zacks Rank of 3. 
DKNG&#39;s earnings for the to-be-reported quarter are expected to increase 67.8%. It reported better-than-expected earnings in two of the trailing four quarters and missed on the other two occasions, the average surprise being negative 57.1%. 
AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) currently has an Earnings ESP of +6.96% and a Zacks Rank of 3. 
AMC&#39;s earnings for the to-be-reported quarter are expected to increase 39.2%. It reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 50.4%. 
<a href="https://www.zacks.com/stock/news/2264247/factors-setting-the-tone-for-mgm-resorts-mgm-q1-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2264247">To read this article on Zacks.com click here.</a>

DKNG

Factors Setting the Tone for MGM Resorts' Q1 Earnings

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