Mohawk Q2 2023 revenue $3.0B, adj. EPS $2.76 vs $4.41 YoY; Q3 guidance $2.62-2.72

MOHAWK INDUSTRIES INC

2023-Q2 EPS reported $2.84 revenue$5,756,651,000

Net sales $3.0B, down 6.4% reported and 9.6% on legacy/constant currency/days vs $3.2B in Q2 2022.
Adjusted net earnings of $176M; adjusted EPS $2.76, down substantially from $4.41 in prior-year quarter.
Generated $147M free cash flow; restructuring actions initiated targeting $35M annual savings at $17M cost.
Segment margins: Global Ceramic 7.3% (adj. 8.6%), Flooring NA 3.7% (adj. 6.0%), Flooring Rest of World 11.0% (adj. 12.1%).
Q3 2023 adjusted EPS guidance range $2.62–$2.72, significantly below prior-year $4.41 adjusted.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MOHAWK INDUSTRIES INC reported second quarter of 2023 results: revenue $3.0 billion, net income $101 million, EPS $1.58.

Period: second quarter of 2023
Revenue: $3.0 billion
Net income: $101 million
EPS: $1.58
Result: reported results

Exact text from the filing

Mohawk Industries, Inc. (NYSE: MHK) today announced second quarter 2023 net earnings of $101 million and diluted earnings per share (“EPS”) of $1.58. Adjusted net earnings were $176 million, and adjusted EPS was $2.76, excluding restructuring, acquisition and other charges. Net sales for the second quarter of 2023 were $3.0 billion, a decrease of 6.4% as reported and 9.6% on a legacy and constant currency and days basis versus the prior year.

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Source: SEC EDGAR

accession 0000851968-23-000082

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