If you like to see more ideas, please subscribe to the premium service "Value in Corporate Events" here and try the free trial. In this service we cover major earnings events, M&A, IPOs and other significant corporate events with actionable ideas. Furthermore, we provide coverage of situations and names on request! In the spring of 2023, I believed that shares of Mohawk Industries (NYSE: MHK ) were finding a floor around the $100 mark. The company was seeing earnings being pressured following the correction ...

Core Insights - Mohawk Industries, Inc. reported a net sales of $2,719.0 million for the three months ended September 28, 2024, a decrease from $2,766.1 million in the same period of 2023, reflecting a decline of 1.7% [3][4] - The company achieved a gross profit of $692.6 million for the third quarter of 2024, slightly up from $692.0 million in the prior year [3][4] - Operating income for the third quarter of 2024 was $212.3 million, a significant recovery from a loss of $733.7 million in the same quarter of 2023 [3][4] - Net earnings attributable to Mohawk Industries, Inc. were $162.0 million for the third quarter of 2024, compared to a loss of $760.4 million in the same period of the previous year [3][4] Financial Performance - For the nine months ended September 28, 2024, net sales totaled $8,199.7 million, down from $8,522.8 million in the same period of 2023 [3][4] - The cost of sales for the third quarter of 2024 was $2,026.4 million, compared to $2,074.1 million in the same quarter of 2023 [3][4] - Selling, general and administrative expenses decreased to $480.3 million in Q3 2024 from $549.6 million in Q3 2023 [3][4] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the third quarter of 2024 was $319.6 million, down from $512.0 million in the same quarter of 2023 [4][5] - Free cash flow for the third quarter of 2024 was $204.2 million, compared to $384.6 million in the same period of 2023 [4][5] - Capital expenditures for the third quarter of 2024 were $115.4 million, slightly lower than $127.4 million in Q3 2023 [4][5] Balance Sheet Highlights - As of September 28, 2024, total assets were $13,313.2 million, an increase from $13,138.5 million as of September 30, 2023 [5][6] - Current liabilities decreased to $2,771.0 million from $3,188.6 million year-over-year [5][6] - Total stockholders' equity increased to $7,855.7 million from $7,271.4 million in the previous year [5][6] Segment Performance - Global Ceramic segment net sales for Q3 2024 were $1,058.0 million, down from $1,091.7 million in Q3 2023 [6][7] - Flooring North America segment reported net sales of $974.0 million, slightly up from $962.2 million in the same quarter of 2023 [6][7] - Flooring Rest of World segment net sales were $687.0 million, down from $712.2 million in the prior year [6][7]

Financial Performance - Net sales for Q3 2024 were $2.7 billion, a decrease of 2.1% on an adjusted basis year-over-year[16] - Adjusted EPS for Q3 2024 increased by 6.6% year-over-year to $2.90[16] - Free cash flow for Q3 2024 was $204 million[16] - Adjusted EBITDA for Q3 2024 was $392 million, a 0.8% increase year-over-year[18] Segment Performance - Global Ceramic sales for Q3 2024 were $1.058 billion, a decrease of 3.1%[19] - Flooring North America sales for Q3 2024 were $974 million, an increase of 1.2%[19] - Flooring Rest of the World sales for Q3 2024 were $687 million, a decrease of 3.5%[19] Macroeconomic Factors - U S Q2 2024 GDP increased by 3.0%[17] - September All Items Consumer Price Index in the U S fell to 2.4%[17] Future Outlook - Q4 adjusted EPS guidance is $1.77 to $1.87, excluding restructuring or other one-time charges[23] - The company anticipates a negative impact of $25-40 million on Q4 sales due to recent hurricanes in the U S [23]

Mohawk Industries, Inc. (MHK) reported strong third-quarter 2024 results (ended Sept. 30). Its earnings surpassed the Zacks Consensus Estimate and improved from the prior year despite pricing pressures and a negative mix. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. On the other hand, net sales declined on a year-over-year basis but marginally beat the consensus mark. Mohawk noted that market conditions were slower than anticipated across the regions due to high interest rates, ...

Core Viewpoint - Mohawk Industries reported a slight decline in revenue for Q3 2024, with a year-over-year decrease of 1.7%, while EPS showed a modest increase compared to the previous year [1] Financial Performance - Revenue for the quarter ended September 2024 was $2.72 billion, exceeding the Zacks Consensus Estimate of $2.71 billion by 0.49% [1] - EPS for the quarter was $2.90, compared to $2.72 a year ago, resulting in a surprise of 0.35% over the consensus estimate of $2.89 [1] Segment Performance - Global Ceramic net sales were $1.06 billion, below the average estimate of $1.08 billion, reflecting a year-over-year decline of 3.1% [1] - Flooring ROW net sales reached $687 million, slightly below the average estimate of $688.10 million, marking a year-over-year decrease of 3.6% [1] - Flooring NA net sales were $974 million, surpassing the estimated $941.94 million, with a year-over-year increase of 1.2% [1] Adjusted Operating Income - Adjusted Operating Income for Global Ceramic was $90.80 million, exceeding the average estimate of $89.50 million [1] - Adjusted Operating Income for Flooring NA was $88.90 million, above the average estimate of $83.19 million [1] - Adjusted Operating Income for Flooring ROW was $71.80 million, below the average estimate of $79.01 million [1] - Corporate and intersegment eliminations reported an adjusted operating income of -$11.20 million, compared to the average estimate of -$11.68 million [1] Stock Performance - Over the past month, shares of Mohawk Industries have returned -1.7%, while the Zacks S&P 500 composite has changed by +1.5% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]

Mohawk Industries (MHK) came out with quarterly earnings of $2.90 per share, beating the Zacks Consensus Estimate of $2.89 per share. This compares to earnings of $2.72 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.35%. A quarter ago, it was expected that this flooring maker would post earnings of $2.76 per share when it actually produced earnings of $3, delivering a surprise of 8.70%.Over the last four quarters, the compa ...

NEWS RELEASE For Release: Immediately Contact: James Brunk, Chief Financial Officer (706) 624-2239 MOHAWK INDUSTRIES REPORTS Q3 RESULTS Calhoun, Georgia, October 24, 2024 — Mohawk Industries, Inc. (NYSE: MHK) today announced third quarter 2024 net earnings of $162 million and earnings per share ("EPS") of $2.55; adjusted net earnings were $184 million, and adjusted EPS was $2.90. Net sales for the third quarter of 2024 were $2.7 billion, a decrease of 1.7% as reported and 2.1% on an adjusted basis versus th ...

CALHOUN, Ga., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSE: MHK) today announced third quarter 2024 net earnings of $162 million and earnings per share (“EPS”) of $2.55; adjusted net earnings were $184 million, and adjusted EPS was $2.90. Net sales for the third quarter of 2024 were $2.7 billion, a decrease of 1.7% as reported and 2.1% on an adjusted basis versus the prior year. During the third quarter of 2023, the Company reported net sales of $2.8 billion, a net loss of $760 million an ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Mohawk Industries (MHK) , which belongs to the Zacks Textile - Home Furnishing industry, could be a great candidate to consider.This flooring maker has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 9.05%.For the most recent quarter, Mohawk Indust ...

Mohawk Industries, Inc. (MHK) is scheduled to report results for the third quarter of 2024 on Oct. 24, after market close.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, the company’s adjusted earnings topped the Zacks Consensus Estimate and rose 8.7% year over year. Net sales missed the consensus estimate by 1.5% and decreased 5.1% from the year-ago level.MHK’s earnings surpassed expectations in each of the trailing four quarters, delivering an average ...