Mohawk Industries, Inc. announced 1Q 2018 net earnings of $209 million. Net sales for the 1Q 2018 were $2.4 billion, up 9% in the quarter and 4% on a constant currency basis.

Flooring

Mohawk Industries 1Q net sales increased by 9%

Mohawk Industries, Inc. announced 1Q 2018 net earnings of $209 million. Adjusted net earnings were $225 million and EPS was $3.01, excluding restructuring, acquisition and other charges, an 11% increase over last year, as the company said in the press release received by Lesprom Network.

Net sales for the 1Q 2018 were $2.4 billion, up 9% in the quarter and 4% on a constant currency basis. For the 1Q 2017, net sales were $2.2 billion, net earnings were $201 million and EPS was $2.68; adjusted net earnings were $203 million and EPS was $2.72, excluding restructuring, acquisition and other charges.

Jeffrey S. Lorberbaum, Chairman and CEO, stated: "Mohawk is benefiting from its diverse geographical footprint and product portfolio. Our performance in the first quarter accentuated this strength as we realized significant growth in LVT in our largest markets and sales and profits grew strongly in our ceramic business outside the U.S. We are leveraging our global organization's strength to initiate manufacturing in new markets and extend our development of innovative products. Our global decentralized structure enables us to simultaneously manage numerous internal investments while also executing new acquisitions.”

Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world.