Mohawk Industries is a leading manufacturer and distributor of flooring products for residential and commercial spaces
The company offers a wide range of flooring solutions, including carpet, rugs, laminate, hardwood, and ceramic tile, catering to various design preferences and functional needs. By innovating in technology and sustainability, Mohawk aims to deliver high-quality products while reducing environmental impact. The company serves its customers through multiple channels, including retail, wholesale, and direct sales, positioning itself as a key player in the global flooring industry.
The flooring company reported adjusted earnings of $1.95 per share for the three months ended Dec. 31, compared with the average analysts’ estimate of $1.85 per share.
Flooring manufacturer Mohawk Industries (NYSEMHK) beat Wall Street’s revenue expectations in Q4 CY2024, but sales were flat year on year at $2.64 billion. Its non-GAAP profit of $1.95 per share was 5.3% above analysts’ consensus estimates.
CALHOUN, Ga., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSEMHK) today announced fourth quarter 2024 net earnings of $93 million and earnings per share (“EPS”) of $1.48; adjusted net earnings were $123 million, and adjusted EPS was $1.95. Net sales for the fourth quarter of 2024 were $2.6 billion, an increase of 1.0% as reported and a decrease of 1.0% on an adjusted basis versus the prior year. During the fourth quarter of 2023, the Company reported net sales of $2.6 billion, net earnings of $140 million and earnings per share of $2.18; adjusted net earnings were $125 million, and adjusted EPS was $1.96.
Looking back on home furnishings stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Lovesac (NASDAQLOVE) and its peers.
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Since July 2024, Mohawk Industries has been in a holding pattern, posting a small loss of 2% while floating around $130.06. The stock also fell short of the S&P 500’s 5.3% gain during that period.
Analyst bullish on Mohawk Industries as it is trading at a discount and has potential for margin drivers and strong balance sheet. Cheaper way to play repair/remodel demand rebound.
CALHOUN, Ga., Jan. 07, 2025 (GLOBE NEWSWIRE) -- In conjunction with Mohawk Industries’ (NYSEMHK) fourth quarter 2024 earnings release on Thursday, February 6, you are invited to listen to the conference call that will be broadcast live on Friday, February 7, at 11:00 am ET.
