secwatch.observer — SEC 8-K summary
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Issuer:     MOHAWK INDUSTRIES INC (MHK)
CIK:        0000851968
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000851968-23-000094
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mohawk posts Q3 net loss of $760M, impairment charge of $876M; adjusted EPS $2.72 vs $3.34 prior year
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- Net loss $760M ($11.94 diluted loss per share) including $876M non-cash impairment of goodwill and intangibles; adjusted EPS $2.72.
- Net sales $2.8B, down 5.2% as reported (8.1% on legacy/constant currency) vs Q3 2022 sales of $2.9B.
- Global Ceramic margin -32.5% (adj. 8.0%), Flooring ROW -22.4% (adj. 10.9%), Flooring NA -17.4% (adj. 8.1%).
- Restructuring to shut Italian ceramic, convert U.S. LVT to direct extrusion; expects $30M annual savings, ~$55M charge.
- Q4 2023 adjusted EPS guidance $1.80-$1.90; full-year adjusted EPS expected above $9.00; free cash flow $385M in Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/851968/000085196823000094/0000851968-23-000094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/851968/000085196823000094/mhk-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000851968-23-000094

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