Mohawk Industries, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 04:18 pm EST
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Mohawk Industries, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 2,612.28 million compared to USD 2,650.68 million a year ago. Net income was USD 139.49 million compared to USD 33.46 million a year ago. Basic earnings per share from continuing operations was USD 2.19 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 2.18 compared to USD 0.52 a year ago.
For the full year, sales was USD 11,135.12 million compared to USD 11,737.07 million a year ago. Net loss was USD 439.52 million compared to net income of USD 25.25 million a year ago. Basic loss per share from continuing operations was USD 6.9 compared to basic earnings per share from continuing operations of USD 0.4 a year ago. Diluted loss per share from continuing operations was USD 6.9 compared to diluted earnings per share from continuing operations of USD 0.39 a year ago.
Mohawk Industries, Inc. specializes in manufacturing and marketing ground coating products. The group's products are sold under the Mohawk, Aladdin, American Olean, Bigelow, Century Flooring, Columbia Flooring, Dal-Tile, Durkan, Horizon, Karastan, Lees, Merit, PureBond, Quick-Step, Uniclic, Unilin brands, etc. Net sales break down by family of products as follows:
- carpets and rugs (38.3%);
- tile products (35.2%): ceramic, porcelain, marble and natural stone tiles;
- floors (16.5%): solid wood flooring, laminate flooring and vinyl flooring;
- other (10%).
At the end of 2021, the group had 69 production sites worldwide.
Net sales break down geographically as follows: the United States (55.2%), Europe (27.8%), Russia (4%) and other (13%).