Mohawk Industries Exceeds Q2 Earnings Expectations with Strong Sales Growth
Mohawk Industries (NYSE:MHK) reported second-quarter results that exceeded expectations, driven by volume growth, pricing actions, and improved product mix. Net sales rose 6.8% year over year to $3 billion, while adjusted earnings per share reached $3.67, including a one-time benefit of approximately $0.63 from tariff refunds not included in prior guidance. The company's operating margin increased by nearly two percentage points to 9.7%, as pricing and productivity initiatives offset inflationary pressures. Management expects seasonal softness in Q3 but remains optimistic about the full year, with adjusted EPS guidance of $2.50-$2.60 per share. Mohawk also repurchased over 600,000 shares for around $60 million during the quarter. CEO Jeff Lorberbaum is set to retire after 25 years at the company and will be succeeded by COO Paul De Cock. Despite softness in residential flooring markets, all three business segments—Global Ceramic, Flooring North America, and Flooring Rest of World—reported sales growth.
Tickers: $MHK
Topics: management transition operating margin improvement Q2 earnings tariff refunds