Interface, Inc.

question, again press star 1. Thank you. I'd now like to turn the call over to Christine Needles, Global Communications. You may begin.

Good morning, and welcome to Interface's conference call regarding first quarter results, hosted by Laurel Hurd, CEO, and Bruce Hausman, CFO. During today's conference call, any management comments regarding Interface's business which are not historical information are forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements regarding the intent, belief, or current expectations of our management team, as well as the assumptions on which such statements are based. Any forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including risks and uncertainties described in our most recent annual report on Form 10-K filed with the SEC. the company assumes no responsibility to update forward-looking statements. Management's remarks during this call also refer to certain non-GAAP measures. Reconciliations of the non-GAAP measures to the most comparable GAAP measures and explanations for their use are contained in the company's earnings release and Form 8K furnished with the SEC today. Lastly, this call is being recorded and broadcasted for interface. It contains copyrighted material and may not be re-recorded or rebroadcasted without Interface's express permission. Your participation on the call confirms your consent to the company's taping and broadcasting of it. After our prepared remarks, we will open up the call for questions. Now, I will turn the call over to Laurel Hurd, CEO. Thank you, Christine, and good morning, everyone.

Interface delivered a solid start to 2025. with 4% year-over-year currency neutral growth in net sales, 4% growth in adjusted earnings per share, and strong momentum going into the second quarter. Amid an uncertain and dynamic macro environment, I'm proud of our accomplishments this quarter, the disciplined execution of our global teams, and the passion that our team members bring every day to serve our customers. Our one interface strategy is working, and it continues to position us for long-term growth and success as we are still in early days of activation. As mentioned previously, One Interface is a multi-year strategy focused on building strong global functions to support our world-class selling teams, accelerating growth through enhanced productivity of our commercial teams, expanding margins through global supply chain management and simplifying operations, and leading in design performance and sustainability. In the first quarter, We appointed our first VP of Global Product Category Management. This role is an important addition to the organization that will work cross-functionally to accelerate and optimize our product innovation pipeline, ensuring we deliver world-class products that meet the commercial needs of the markets we serve, while always embodying the essence of interface. This new position will build our product portfolio with the customer at the center and prioritize category investments that will ensure our portfolio is aligned with the needs of the market as we focus on accelerating growth. On the product front, in Q1, we launched two carpet tile collections that expand on our I2 portfolio, material impressions and open road. We first introduced I2 with the launch of our popular entropy product 25 years ago. It was the first in the industry representing a major mindset shift in carpet tile design. I2 styles are truly modular. with mergeable die loss and random installation. They continue to be a favorite of our customers because they're incredibly flexible and adaptable over time. We continue to expand this portfolio to offer even more design options, especially to suit the needs of our education and corporate office spaces. We also look forward to Clerkenwell Design Week in May and Neocon in June, where we will showcase our latest global carpet tile and LBT collections as well as our innovative carbon negative Nora rubber prototype and other new products. These events provide excellent opportunities to connect with our customers and industry partners and to demonstrate our design performance and sustainability leadership. Turning to sustainability, true to our roots, InterFACE continues to be at the forefront of innovation. We've made strides towards achieving our science-based targets by 2030 and being carbon negative by 2040. As part of this journey, we recently announced a strategic investment to incorporate captured carbon into our manufacturing processes in the US and Europe. This raw material stores more carbon and lowers the carbon footprint of our carpet tile products without compromising on design and at no additional cost to our customers. This is a notable example of our sustainability leadership as we continue to innovate and activate tangible solutions that drive carbon reduction and storage but also helping customers meet their own sustainability commitments. Now let's turn to our first quarter results. We delivered a solid start to the year, with year-over-year currency-neutral net sales growth of 4%. Strong momentum continued in the Americas, where net sales grew 6%, and currency-neutral orders were up 10%, partially offset by a softer macro environment in EAAA. Turning to our market segments, Our diversification strategy continues to drive growth. Global education billings were up 13% as interface stands out in both K through 12 and higher education due to our reputation for design leadership and sustainable, durable, high performing solutions across a broad portfolio of products. Our education segment is supported by strong macro drivers, modernization initiatives, and regional migration. We also continue to broaden our addressable market with expanded collections and accessible price points. In healthcare, global billings were up 16% year-over-year as our strong healthcare orders from prior quarters converted to billing. Our differentiated portfolio continues to meet the evolving needs of aging populations, technological advancements, and a growing emphasis on preventative care. In this expanding market, Our US selling teams are gaining traction and uncovering new opportunities to deliver comprehensive solutions to healthcare systems. Corporate office billings were down 7% year over year in the quarter. We view this as timing as we are expecting growth in office for the full year. We are still seeing momentum with a continued flight to quality and Class A space where we're well positioned to win. Companies also continue to refresh their spaces to adapt to the changing needs of their teams as more employees return to the office. We expect these trends to continue throughout the year, creating more opportunities for us in this segment. Turning to orders, in the first quarter of 2025, consolidated currency neutral orders increased 3% year over year. Currency neutral orders in the Americas were up 10% year over year, driven by the success of our one interface strategy and combined selling team. In EAAA, first quarter currency neutral orders were down 6% year over year on a softer macro environment. Our backlog was strong at the end of the first quarter, up 12% year over year, which gives us confidence that our strategy is working and positions us well for the coming quarters. Before I turn the call over to Bruce, I want to take a moment to discuss the current global market dynamics and tariff environment. We benefit by having local carpet tile manufacturing in each of our regions, which limits our exposure to the recently announced tariffs to primarily U.S. imports of Nora rubber from Germany and LVT from South Korea. This represents approximately 15% of our global product costs that will be impacted by the recent tariff announcements. We have plans in place to offset this impact through incremental pricing and productivity, which has been baked into our guidance. This is obviously a dynamic environment, which we continue to monitor and respond as necessary to offset tariff-related costs, grow our business, and serve our customers. With that, I'll turn it over to Bruce to go over the financials.