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Here's Why Mohawk Industries (MHK) is a Strong Value Stock
ZACKS· 2024-06-27 14:40
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. It also includes access to the Zacks Style Scores. What are the Zacks Style Scores? The Zacks Sty ...
Why Mohawk Industries (MHK) is a Top Value Stock for the Long-Term
ZACKS· 2024-06-10 14:46
Core Insights - The article emphasizes the importance of utilizing Zacks Premium to enhance investment confidence and market engagement for both new and seasoned investors [1][3]. Zacks Style Scores - Zacks Style Scores are designed to assist investors in selecting stocks with the highest potential to outperform the market within a 30-day timeframe, using an alphabetic rating system from A to F based on value, growth, and momentum [4]. - The Style Scores are categorized into four distinct types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [5][6][7][18]. Value Score - The Value Score identifies undervalued stocks using various financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow, appealing to value investors seeking attractive pricing [5]. Growth Score - The Growth Score focuses on a company's financial health and future growth potential, analyzing projected and historical earnings, sales, and cash flow to identify sustainable growth opportunities [6]. Momentum Score - The Momentum Score helps investors capitalize on price trends by evaluating short-term price changes and earnings estimate revisions, guiding decisions on high-momentum stocks [7]. VGM Score - The VGM Score combines all Style Scores, providing a comprehensive assessment of stocks based on value, growth, and momentum, serving as a crucial indicator alongside the Zacks Rank [18]. Zacks Rank - The Zacks Rank is a proprietary stock-rating model that leverages earnings estimate revisions to aid investors in building successful portfolios, with a strong emphasis on selecting stocks rated 1 or 2 along with favorable Style Scores [9][11]. Stock Example: Mohawk Industries (MHK) - Mohawk Industries is highlighted as a leading global manufacturer of flooring products, with a diverse product range and a significant international presence [15]. - MHK holds a 3 (Hold) rating on the Zacks Rank, with a VGM Score of A and a Value Style Score of A, supported by a forward P/E ratio of 11.71 and an upward revision in earnings estimates for fiscal 2024 [16][17].
Here's Why Mohawk Industries (MHK) is a Strong Momentum Stock
zacks.com· 2024-05-22 14:56
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both. The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. Zacks Premium also includes the Zacks Style Scores. What are the Zacks Style Scores? Developed ...
Mohawk Industries: Upgrade To Buy On Clearer View Of Recovery
Seeking Alpha· 2024-05-13 18:28
Following my coverage of Mohawk Industries (NYSE:MHK) in Feb'24, which I recommended a hold rating as I wanted to see more signs of recovery before adjusting my recommendation to a buy, this post is to provide an update on my thoughts on the business and stock. I shift my rating from hold to buy as I see clearer signs of recovery ahead, and the market should start to upgrade MHK valuation as it continues to print sequential improvements in sales. Investment thesis Just a couple of weeks ago, MHK released it ...
Mohawk Industries 公布第一季度业绩
GlobeNewswire Inc.· 2024-04-27 06:12
, April 27, 2024 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSE: MHK) 2024 1.05 ("EPS") 1.64 1.19 EPS 1.86 2024 27 4.5% 5.5%2023 28 8000 EPS 1.26 1.12 EPS 1.75 Â Jeff Lorberbaum " (Global Ceramic Segment) 1.4% 5.0% 4.7% 5.0% 400-800% 7.4% 5.9% 9.7% 10.1% LVT LVT 5.6% 5.0% 5.3% PetPremier PureTech LVT LVT LVT EPS 2.68 2.78 " MOHAWK INDUSTRIES Mohawk Industries Mohawk American OleanDaltileDurkanElianeElizabethFeltexGH CommercialGodfrey HirstGrupo DaltileIVC CommercialIVC HomeKarastanMarazziMohawkMohawk Gro ...
Mohawk (MHK) Q1 Earnings Beat, Margins Rise, Q2 View Strong
Zacks Investment Research· 2024-04-26 18:05
Mohawk Industries, Inc. (MHK) reported impressive earnings in first-quarter 2024 (ended Mar 30). Its earnings surpassed the Zacks Consensus Estimate and improved from the prior year on the back of lower input costs, less restructuring expenses and productivity gains.Shares of this leading global flooring manufacturer inched up 0.2% in the after-hours trading session on Apr 25.On the other hand, net sales declined on a year-over-year basis but marginally beat the consensus mark.Despite the positive effect of ...
Mohawk Industries (MHK) Reports Q1 Earnings: What Key Metrics Have to Say
Zacks Investment Research· 2024-04-25 23:31
Mohawk Industries (MHK) reported $2.68 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.5%. EPS of $1.86 for the same period compares to $1.75 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.67 billion, representing a surprise of +0.37%. The company delivered an EPS surprise of +9.41%, with the consensus EPS estimate being $1.70.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...
Mohawk Industries (MHK) Beats Q1 Earnings and Revenue Estimates
Zacks Investment Research· 2024-04-25 22:26
Mohawk Industries (MHK) came out with quarterly earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.70 per share. This compares to earnings of $1.75 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.41%. A quarter ago, it was expected that this flooring maker would post earnings of $1.85 per share when it actually produced earnings of $1.96, delivering a surprise of 5.95%.Over the last four quarters, the co ...
Mohawk(MHK) - 2024 Q1 - Quarterly Results
2024-04-25 20:14
[Mohawk Industries Q1 2024 Earnings Release](index=1&type=section&id=Mohawk%20Industries%20Q1%202024%20Earnings%20Release) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company reported a 4.5% year-over-year decrease in net sales to $2.7 billion but increased net earnings to $105 million Q1 2024 Key Financial Metrics | Metric | Q1 2024 | Q1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Net Sales | $2.7 billion | $2.8 billion | -4.5% | | Net Earnings | $105 million | $80 million | +31.3% | | EPS | $1.64 | $1.26 | +30.2% | | Adjusted Net Earnings | $119 million | $112 million | +6.3% | | Adjusted EPS | $1.86 | $1.75 | +6.3% | [Management Commentary](index=1&type=section&id=Management%20Commentary) Management attributes improved Q1 results to restructuring and lower costs, which offset pricing pressures amid soft residential demand - Year-over-year earnings per share increased as a result of **restructuring, productivity initiatives, and benefits from lower raw material and energy costs**, which were partially offset by weaker pricing and product mix[3](index=3&type=chunk) - Market conditions show **significant pricing and mix pressure**, with the commercial channel outperforming the soft residential remodeling sector[4](index=4&type=chunk) - Strategic priorities include managing production levels to align inventories with demand, stimulating sales through new product introductions, and **reducing the cost structure**[5](index=5&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) All business segments saw sales declines, but operating income performance varied, with significant improvement in Flooring North America Q1 2024 Segment Net Sales and Operating Income | Segment | Net Sales (in millions) | Operating Income (in millions) | | :--- | :--- | :--- | | Global Ceramic | $1,044.8 | $48.8 | | Flooring NA | $900.2 | $45.0 | | Flooring ROW | $734.4 | $70.9 | [Global Ceramic Segment](index=2&type=section&id=Global%20Ceramic%20Segment) The segment's net sales declined 1.4% to $1.04 billion, with adjusted operating margin impacted by unfavorable price and mix Global Ceramic Q1 Performance | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Sales | $1,044.8 M | $1,059.3 M | | Operating Income | $48.8 M | $63.3 M | | Adjusted Operating Margin | 5.0% | 6.3% | - The U.S. ceramic tile industry has filed an **anti-dumping petition against India**, with expected tariffs between 400-800% plus additional duties[6](index=6&type=chunk) [Flooring Rest of the World Segment](index=2&type=section&id=Flooring%20Rest%20of%20the%20World%20Segment) Net sales decreased 7.4% to $734.4 million, though volumes increased from prior-year lows and LVT restructuring showed positive results Flooring ROW Q1 Performance | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Sales | $734.4 M | $793.5 M | | Operating Income | $70.9 M | $75.2 M | | Adjusted Operating Margin | 10.1% | 12.6% | - **Volumes increased from the prior year's low levels**, which may indicate improving trends in the segment's categories[7](index=7&type=chunk) - The restructuring of the residential LVT program is complete, resulting in **substantial growth in sales of rigid LVT**, which is replacing discontinued flexible products[7](index=7&type=chunk) [Flooring North America Segment](index=2&type=section&id=Flooring%20North%20America%20Segment) Despite a 5.6% sales decline to $900.2 million, the segment's adjusted operating margin improved dramatically due to cost efficiencies Flooring NA Q1 Performance | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Sales (Loss) | $900.2 M | $953.4 M | | Operating Income | $45.0 M | ($2.0 M) | | Adjusted Operating Margin | 5.3% | 0.5% | - New residential product launches, including **PetPremier carpet and award-winning PureTech resilient planks**, are being embraced by retailers[9](index=9&type=chunk) - The **West Coast LVT facility is increasing production**, and restructuring initiatives for the Georgia LVT facility are being implemented[9](index=9&type=chunk) [Business Outlook](index=4&type=section&id=Business%20Outlook) Management projects Q2 adjusted EPS of $2.68 to $2.78 and anticipates long-term growth from a housing market recovery - The company anticipates **second quarter adjusted EPS to be between $2.68 and $2.78**, excluding any restructuring or other one-time charges[10](index=10&type=chunk) - The company is completing major expansion projects for LVT, quartz countertops, and premium laminate to support products with the **greatest growth potential when the market recovers**[10](index=10&type=chunk) - Long-term catalysts for the flooring industry include the **normalization of existing home sales**, the need for substantial new home construction, and increased remodeling investments[11](index=11&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated statements of operations and balance sheets for the first quarter of 2024 [Statements of Operations](index=6&type=section&id=Statements%20of%20Operations) Q1 net sales were $2.68 billion, with operating income increasing to $146.6 million and net earnings rising to $105.0 million Q1 2024 Condensed Consolidated Statements of Operations (in millions) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net sales | $2,679.4 | $2,806.2 | | Gross profit | $649.5 | $643.4 | | Operating income | $146.6 | $125.7 | | Net earnings attributable to Mohawk | $105.0 | $80.2 | [Balance Sheets](index=7&type=section&id=Balance%20Sheets) Total assets decreased to $13.53 billion as of March 30, 2024, with a corresponding decline in total liabilities to $5.88 billion Condensed Consolidated Balance Sheet Highlights (in millions) | Account | March 30, 2024 | April 1, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $658.5 | $572.9 | | Inventories | $2,527.7 | $2,729.9 | | Total assets | $13,531.5 | $14,763.5 | | Total liabilities | $5,883.7 | $6,657.8 | | Total stockholders' equity | $7,647.8 | $8,105.7 | [Other Financial Information](index=6&type=section&id=Other%20Financial%20Information) The company generated $183.7 million in operating cash flow and $96.9 million in free cash flow during the first quarter Q1 Cash Flow and Other Metrics (in millions) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $183.7 | $257.3 | | Capital expenditures | $86.8 | $128.5 | | Free cash flow | $96.9 | $128.8 | | Depreciation and amortization | $154.2 | $169.9 | [Non-GAAP Reconciliations](index=8&type=section&id=Non-GAAP%20Reconciliations) This section details the reconciliation of GAAP measures to non-GAAP figures to clarify core operating performance [Reconciliation of Net Earnings and EPS](index=8&type=section&id=Reconciliation%20of%20Net%20Earnings%20and%20EPS) Q1 GAAP net earnings of $105.0 million were adjusted to $118.8 million, resulting in an adjusted EPS of $1.86 Q1 2024 Reconciliation of Net Earnings to Adjusted Net Earnings (in millions) | Description | Amount | | :--- | :--- | | Net earnings attributable to Mohawk | $105.0 | | Restructuring, acquisition and other costs | $7.9 | | Legal settlements, reserves and fees | $8.8 | | Other adjustments & tax effects | ($3.9) | | **Adjusted net earnings** | **$118.8** | [Reconciliation of Segment Operating Income](index=11&type=section&id=Reconciliation%20of%20Segment%20Operating%20Income) Adjusted operating income is presented for each segment after excluding restructuring and other non-recurring costs Q1 2024 Adjusted Segment Operating Income (in millions) | Segment | GAAP Operating Income | Adjustments | Adjusted Operating Income | | :--- | :--- | :--- | :--- | | Global Ceramic | $48.8 | $3.9 | $52.7 | | Flooring NA | $45.0 | $2.8 | $47.8 | | Flooring ROW | $70.9 | $3.1 | $74.0 | [Reconciliation of EBITDA and Net Debt](index=9&type=section&id=Reconciliation%20of%20EBITDA%20and%20Net%20Debt) The company reported net debt of $1.97 billion and a Net Debt to Adjusted EBITDA ratio of 1.4x for the trailing twelve months - **Net debt** as of March 30, 2024 was calculated to be **$1,967.5 million**[23](index=23&type=chunk) - The **Net Debt to Adjusted EBITDA ratio** for the trailing twelve months ended March 30, 2024, was **1.4x**[24](index=24&type=chunk)
Curious about Mohawk Industries (MHK) Q1 Performance? Explore Wall Street Estimates for Key Metrics
Zacks Investment Research· 2024-04-24 14:21
The upcoming report from Mohawk Industries (MHK) is expected to reveal quarterly earnings of $1.69 per share, indicating a decline of 3.4% compared to the year-ago period. Analysts forecast revenues of $2.69 billion, representing a decrease of 4.1% year over year.The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior t ...