Mohawk Q3 net loss $534M ($8.40/share) on $696M impairment; adj EPS $3.34, sales $2.9B

MOHAWK INDUSTRIES INC

2022-Q3 EPS reported -$0.13 revenue$9,086,390,000

Q3 net loss of $534M, diluted EPS -$8.40, including $696M non-cash impairment; adjusted net earnings $212M, adj EPS $3.34.
Net sales $2.9B, +3.6% as reported (+8.3% constant currency); Q4 adj EPS guidance $1.40-$1.50.
Global Ceramic segment adj op margin 12.1%; Flooring North America adj op margin 8.0%; Flooring Rest of World adj op margin 8.5%.
Company cites retail softness, European energy crisis, U.S. inflation; executing restructurings and capacity expansions.
Balance sheet: net debt leverage 1.2x EBITDA, liquidity >$1.8B.

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