Profile
Sector:
Consumer CyclicalIndustry:
Furnishings, Fixtures & AppliancesCountry:
United StatesIPO:
01 April 1992Website:
http://www.mohawkind.comNext earnings report:
07 February 2025Last dividends:
N/ANext dividends:
N/APrice
after hours | 5 min agoDividend
Analysts recommendations
Institutional Ownership
Included in screeners
MHK Latest News
I still recommend buying shares of Mohawk Industries (MHK) because I anticipate earnings growth in FY25 as mortgage rates drop and consumer confidence rises. Although there was a 1.7% decrease in revenue in the third quarter of 2024, effective cost management resulted in a 3.7% year-over-year increase in adjusted EBITDA and better adjusted EPS. Concerns about weak guidance for the fourth quarter of 2024 and short-term margin challenges are temporary; a recovery in demand and cost improvements should lead to significant earnings growth in FY25.
In 2023, Mohawk Industries' stock stabilized around $100 as major interest rate concerns eased. The company, which is the biggest flooring manufacturer globally, has seen its earnings grow this year, although it may finish the year on a weaker note. However, the long-term outlook is positive, with the possibility of earnings exceeding $10 per share and expected growth in 2025, making the current stock prices attractive.
Mohawk Industries, Inc. (NYSE:MHK) will hold its Q3 2024 Earnings Conference Call on October 25, 2024, at 11:00 AM ET. Key company participants include CFO James Brunk, Chairman & CEO Jeffrey Lorberbaum, and President Christopher Wellborn. The call will also feature analysts from various financial institutions, and all attendees will be in listen-only mode.
MHK's results for the third quarter show a decrease in net sales because of ongoing market conditions.
Mohawk Industries (MHK) reported quarterly earnings of $2.90 per share, which is higher than the Zacks Consensus Estimate of $2.89 per share. This is an increase compared to last year's earnings of $2.72 per share.
CALHOUN, Ga., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSE: MHK) reported net earnings of $162 million for the third quarter of 2024, with earnings per share (EPS) at $2.55. The company's net sales for this quarter reached $2.7 billion, which is a 1.7% decline compared to the same period last year. In the third quarter of 2023, Mohawk had net sales of $2.8 billion but faced a net loss of $760 million due to significant non-cash impairment charges.
Mohawk Industries (MHK) has a strong track record of surprising with its earnings and currently has the right mix of factors that suggest it may exceed expectations in its upcoming quarterly report.
Mohawk's results for the third quarter of 2024 are expected to show a drop in sales because the residential market is weaker. However, the steps taken to restructure the company are promising.
This is a comparison of how Mohawk Industries (MHK) and Crocs (CROX) have done in relation to their industry this year.
CALHOUN, Ga., Oct. 10, 2024 (GLOBE NEWSWIRE) -- You are invited to join a live conference call on Friday, October 25, 2024, at 11:00 am ET, following the release of Mohawk Industries, Inc. (NYSE: MHK) Third Quarter 2024 earnings on Thursday, October 24, 2024.
What type of business is Mohawk Industries?
Mohawk Industries, Inc. is the world's largest manufacturer of flooring for residential and commercial markets. The company produces a wide range of ceramic tile, porcelain tile, natural stone tile, carpet tile, carpets, carpet cushions, laminate, vinyl products, and more. Mohawk Industries, Inc. was founded in 1988 and is headquartered in Calhoun, Georgia. Mohawk is a major supplier of all major categories of flooring with manufacturing operations in 18 countries and sales in over 170 countries. The majority of the company's assets are located in the United States and Europe, which are also the company's main sales markets.
What sector is Mohawk Industries in?
Mohawk Industries is in the Consumer Cyclical sector
What industry is Mohawk Industries in?
Mohawk Industries is in the Furnishings, Fixtures & Appliances industry
What country is Mohawk Industries from?
Mohawk Industries is headquartered in United States
When did Mohawk Industries go public?
Mohawk Industries initial public offering (IPO) was on 01 April 1992
What is Mohawk Industries website?
https://www.mohawkind.com
Is Mohawk Industries in the S&P 500?
Yes, Mohawk Industries is included in the S&P 500 index
Is Mohawk Industries in the NASDAQ 100?
No, Mohawk Industries is not included in the NASDAQ 100 index
Is Mohawk Industries in the Dow Jones?
No, Mohawk Industries is not included in the Dow Jones index
When was Mohawk Industries the previous earnings report?
No data
When does Mohawk Industries earnings report?
The next expected earnings date for Mohawk Industries is 07 February 2025