Mohawk Q4 adjusted EPS $1.96 beats year-ago $1.32; Q1 guide $1.60-$1.70

MOHAWK INDUSTRIES INC

2023-FY EPS reported -$6.90 revenue$11,135,115,000

Q4 net sales $2.6B (-1.4% YoY); net earnings $139M ($2.18 EPS); adjusted net earnings $125M ($1.96 EPS).
FY2023 net loss $440M ($6.90 per share) includes $878M impairment; adjusted net earnings $587M ($9.19 EPS) vs $12.85 prior year.
Global Ceramic segment sales +0.6% as reported (-4.7% legacy/constant); Flooring NA sales -3.6%.
Plan to retire ~$900M higher-rate term loan in Q1 2024; net debt/EBITDA 1.5x; free cash flow $716M.
Q1 2024 adjusted EPS guidance $1.60-$1.70, citing cyclical low and seasonal patterns.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

MOHAWK INDUSTRIES INC reported fiscal quarter and year ended December 31, 2023 results: revenue $2.6 billion, net income $139 million, EPS $2.18.

Period: fiscal quarter and year ended December 31, 2023
Revenue: $2.6 billion
Net income: $139 million
EPS: $2.18
Result: reported results

Exact text from the filing

of $139 million and earnings per share (“EPS”) of $2.18; adjusted net earnings were $125 million, and adjusted EPS was $1.96. Net sales for the fourth quarter of 2023 were $2.6 billion, a decrease of 1.4% as reported and 4.1% on a legacy and constant basis versus the prior year. During the fourth quarter of 2022, the Company reported net sales of $2.7 billion,

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Source: SEC EDGAR

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