earnings
confidence high
sentiment neutral
materiality 0.75
Mohawk Q2 adjusted EPS $3.00 beats prior year; initiates $100M restructuring
MOHAWK INDUSTRIES INC
2024-Q2 EPS reported
$4.10
revenue$5,480,700,000
- Net sales $2.8B, down 5.1% YoY; GAAP EPS $2.46 vs $1.58, adjusted EPS $3.00 vs $2.76.
- Generated $142M free cash flow in Q2; bought back ~755K shares for $90M.
- New restructuring to generate $100M annual savings ($20-25M in 2024); total cost ~$130M.
- Global Ceramic segment margin 8.5% adjusted; Flooring NA margin 8.6%; Flooring ROW 12.6%.
- Q3 adjusted EPS guidance $2.80-$2.90; expects continued pricing pressure and weak housing.