Mohawk Industries reports 4Q net sales of $2.4 billion

Market: Flooring
Posted February 9, 2018
Mohawk Industries, Inc. announced 4Q 2017 net earnings of $240 million and diluted earnings per share (EPS) of $3.21. Adjusted net earnings were $256 million and EPS was $3.42, excluding restructuring, acquisition and other charges, a 5% increase over last year, as the company said in the press release received by Lesprom Network.

Net sales for the 4Q 2017 were $2.4 billion, up 8.5% in the quarter and 6% on a constant days and currency basis. For the 4Q 2016, net sales were $2.2 billion, net earnings were $234 million and EPS was $3.13; adjusted net earnings were $243 million and EPS was $3.26, excluding restructuring, acquisition and other charges.

For the year ended December 31, 2017, net earnings and EPS were $972 million and $12.98, respectively. Adjusted net earnings and EPS were $1,019 million and $13.61, excluding restructuring, acquisition and other charges, an 8% increase over last year.

For the year ended December 31, 2017, net sales were $9.5 billion, an increase of 6% as reported and on a constant days and currency basis. For the year ended December 31, 2016, net sales were $9.0 billion, net earnings were $930 million and EPS was $12.48; adjusted net earnings and EPS were $940 million and $12.61, respectively, excluding restructuring, acquisition and other charges.

Commenting on Mohawk Industries' 4Q and full-year performance, Jeffrey S. Lorberbaum, Chairman and CEO, stated, "In 2017, our strong organization and long-term strategies allowed Mohawk to deliver record-breaking results. During the year, we identified opportunities for growing our business, differentiating our products and improving our productivity, which we supported with over $900 million in internal investments, the highest in company history.”

Mohawk Industries is the leading global flooring manufacturer.



Topics: Finance

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