Mohawk Industries reports 2Q net sales of $2.6 billion

Market: Flooring
Posted July 25, 2019
Mohawk Industries, Inc. announced 2Q 2019 net earnings of $202 million and diluted earnings per share (EPS) of $2.79. Adjusted net earnings were $210 million, and EPS was $2.89, excluding restructuring, acquisition and other charges.

Net sales for the 2Q 2019 were $2.6 billion, up 0.3% as reported and 2.4% on a constant currency and days basis. For the 2Q 2018, net sales were $2.6 billion, net earnings were $197 million and EPS was $2.62, adjusted net earnings were $263 million, and EPS was $3.51, excluding restructuring, acquisition and other charges.

For the six months ending June 29, 2019, net earnings and EPS were $324 million and $4.48, respectively. Net earnings excluding restructuring, acquisition and other charges were $364 million and EPS was $5.04.

For the 2019 six-month period, net sales were $5.03 billion, up 0.8% versus prior year as reported or 4% on a constant currency and days basis. For the six-month period ending June 30, 2018, net sales were $4.99 billion, net earnings were $405 million and EPS was $5.41; excluding restructuring, acquisition and other charges, net earnings and EPS were $488 million and $6.52.

Jeffrey S. Lorberbaum, Chairman and CEO, stated, “In the 2Q, our business delivered results at the high end of our guidance. The U.S. dollar strengthened compared to the prior year, reducing our translated results for the quarter by approximately $9 million. Most markets we operate in remain soft, with pressure on volume and pricing, and we anticipate the environment to remain difficult.”

Mohawk Industries is the leading global flooring manufacturer.

+7 499 6535608
Ordzhonikidze, 11 109028 Moscow, Russia


Topics: Finance

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