Mohawk(US:MHK)2024-04-26 19:18Q1 2024 Financial Performance - Net sales were $26794 million, a decrease of 45% year-over-year or 55% on a constant basis[39] - Adjusted EBITDA was $3185 million, an increase of 32% year-over-year[39] - Adjusted diluted EPS was $186, an increase of 63% year-over-year[39] - Adjusted operating income was $1633 million, an increase of 07% year-over-year[39] - The adjusted EBITDA margin was 119%, compared to 110% in Q1 2023[39] Segment Performance - Global Ceramic sales were $10448 million, a decrease of 14% year-over-year[106] Adjusted operating income margin was 50%[106] - Flooring North America sales were $9002 million, a decrease of 56% year-over-year[106] Adjusted operating income margin was 53%[106] - Flooring Rest of the World sales were $7344 million, a decrease of 74% year-over-year[106] Adjusted operating income margin was 101%[106] Debt and Liquidity - Net debt to adjusted EBITDA was 14x[39] - Total debt was $2636 million, less cash/short-term investments of $659 million, resulting in net debt of $1977 million[26] - Available credit was $1036 million[26] Key Factors and Outlook - The company is managing working capital by aligning production with market demand[110] - The company expects flooring sales to rebound as housing stock ages and remodeling investments increase[132] - Q2 adjusted EPS guidance is $268 to $278, excluding restructuring or other one-time charges[131]