Net Sales Growth and Reported Results
First quarter net sales of $331.0 million, up 11.3% as reported and 6.8% on a currency‑neutral basis (company commentary also referenced ~7% currency‑neutral growth).
Strong Profitability and Margin Expansion
Adjusted gross profit margin of 38.3%, improving 55 basis points year‑over‑year; adjusted operating income of $32.7 million, up 28.6% from $25.5 million; adjusted EBITDA of $46.8 million versus $37.0 million a year ago.
Large EPS Improvement
First quarter adjusted earnings per diluted share of $0.41, up 64% from $0.25 in the prior year quarter.
Order and Backlog Momentum
Consolidated currency‑neutral orders increased 8% year‑over‑year; backlog was up 18% year‑to‑date, indicating healthy forward demand.
Broad-Based Billings Strength
Global billings up 16% in corporate office and healthcare billings up 11%; nora rubber billings increased ~16%; carpet tile billings grew by double digits in the quarter.
Raised Full‑Year Guidance
Company raised full year guidance to net sales of $1.45 billion to $1.48 billion and expects adjusted gross profit margin ~38.8%–39.0% and adjusted SG&A ~26.2%–26.4% of net sales.
Capital Allocation and Cash Generation
Generated $13.5 million of cash from operating activities in Q1, invested $10.3 million in CapEx, repurchased $12 million of common stock, and maintained a disciplined allocation approach including dividend/repurchase and M&A optionality.
Strategic Execution and Product Innovation
Progress on 'One Interface' initiatives: EMEA commercial alignment under a single leader, deployment of robotic manufacturing in Europe and Australia, and launches of noravant (new rubber flooring), two carpet tile collections and norament kivo expansion — all positioned to expand addressable market and drive long‑term growth.
Sustainability Leadership
More than 50% of materials in products are recycled or bio‑based (company claims highest in commercial flooring); launched 'Good Design Never Ends' circularity campaign and reiterated science‑based 2030 targets and carbon negative ambition by 2040.