What: Mohawk Industries, Inc. 2nd Quarter 2024 Earnings Call How: Live over the Internet – Simply log on via the web at the address above or Register for the conference call at: https://dpregister.com/sreg/10190272/fceb831600 Live Conference Call: Dial 1-833-630-1962 (US/Canada) Dial 1-412-317-1843 (Int'l) Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk's vertically integrated manufacturing and distribu ...

What: Mohawk Industries, Inc. 2nd Quarter 2024 Earnings Call How: Live over the Internet – Simply log on via the web at the address above or Register for the conference call at: https://dpregister.com/sreg/10190272/fceb831600 Live Conference Call: Dial 1-833-630-1962 (US/Canada) Dial 1-412-317-1843 (Int'l) Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk's vertically integrated manufacturing and distribu ...

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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].

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 ...

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 ...

Core Viewpoint - Mohawk Industries reported a decline in net sales for Q1 2024 compared to the same period in 2023, with net sales of $2,679.4 million, down from $2,806.2 million, reflecting a decrease of approximately 4.5% [2][10]. Financial Performance - Net earnings attributable to Mohawk Industries increased to $105.0 million in Q1 2024, compared to $80.2 million in Q1 2023, representing a growth of 30.8% [2][14]. - Basic earnings per share (EPS) rose to $1.65 in Q1 2024 from $1.26 in Q1 2023, marking a 31.0% increase [2][12]. - Diluted EPS also increased to $1.64 from $1.26, reflecting the same percentage growth [2][12]. Segment Performance - Global Ceramic segment net sales were $1,044.8 million in Q1 2024, down from $1,059.3 million in Q1 2023 [7][11]. - Flooring North America (NA) segment reported net sales of $900.2 million, a decrease from $953.4 million in the previous year [7]. - Flooring Rest of World (ROW) segment net sales decreased to $734.4 million from $793.5 million [7]. Operating Income - Consolidated operating income for Q1 2024 was $146.6 million, up from $125.7 million in Q1 2023, indicating a growth of 16.9% [2][12]. - The Global Ceramic segment's operating income decreased to $48.8 million from $63.3 million [7][12]. - Flooring NA segment improved to an operating income of $45.0 million from a loss of $2.0 million [7][12]. Cash Flow and Capital Expenditures - Net cash provided by operating activities was $183.7 million, down from $257.3 million in Q1 2023 [3]. - Free cash flow decreased to $96.9 million from $128.8 million year-over-year [3]. Balance Sheet Highlights - Total assets decreased to $13,531.5 million as of March 30, 2024, from $14,763.5 million a year earlier [5]. - Total liabilities also decreased to $5,883.7 million from $6,657.8 million [5]. - Cash and cash equivalents increased to $658.5 million from $572.9 million [5]. Adjusted Financial Metrics - Adjusted net earnings attributable to Mohawk Industries were $118.8 million in Q1 2024, compared to $111.9 million in Q1 2023 [9]. - Adjusted diluted EPS rose to $1.86 from $1.75 year-over-year [9][12]. Debt and Leverage - Total debt as of March 30, 2024, was $2,626.0 million, with net debt calculated at $1,967.5 million after accounting for cash [8].

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) 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) 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 ...