NYSE$MHK
Mohawk Industries Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Mohawk Industries reported Q1 2024 results with increased EPS, driven by restructuring, productivity, and lower input costs, despite economic headwinds and pricing pressures.
Mohawk Industries reported Q1 2024 net sales of $2.7 billion, a decrease of 4.5% year-over-year. However, EPS rose to $1.64, and adjusted EPS was $1.86, compared to $1.26 and $1.75 respectively in the prior year. The company benefited from restructuring, productivity initiatives, and lower raw material costs.
- Net sales decreased by 4.5% year-over-year to $2.7 billion.
- Earnings per share increased year-over-year to $1.64.
- Restructuring and productivity initiatives positively impacted earnings.
- Commercial channel continues to outperform residential.
Headline financials
Revenue & EPS history
Mohawk · Revenue · Quarterly
$2.68B
Revenue by segment
Mohawk · $2.77B total across 3 segments · Q3 2023
- Global Ceramic$1.09B-0.5%39.5%
- Flooring NA$962M-11.7%34.8%
- Flooring ROW$712M-2.6%25.7%
Forward guidance
The company anticipates second quarter adjusted EPS to be between $2.68 and $2.78, excluding any restructuring or other one-time charges.
Tailwinds
- Residential flooring sales should lead the recovery.
- Consumer confidence is expected to improve.
- The housing market is anticipated to strengthen.
- Postponed remodeling projects are expected to be initiated.
- Existing home sales will normalize, a catalyst for flooring.
Headwinds
- European vacation schedules will affect sales.
- Slowing commercial channel.
- Residential remodeling remains soft.
- Low housing sales.
- Impact of inflation on discretionary spending.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.6%
Avg return
Earnings day
+0.7%
Avg return
5 days after
-0.5%
Avg return
30 days after
54%
37 / 68 earnings
Positive
+26.4%
Q2 2024
Best reaction
-22.0%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -7.8% | -1.1% | +1.9% | |
| Q4 2025 | -0.7% | -1.9% | -23.2% | |
| Q3 2025 | -7.1% | -8.8% | -14.7% | |
| Q1 2025 | -1.9% | -5.3% | -5.5% | |
| Q4 2024 | -1.3% | -4.3% | -4.1% | |
| Q3 2024 | -13.7% | -12.7% | -8.5% | |
| Q2 2024 | +26.4% | +27.5% | +24.0% | |
| Q1 2024 | +3.6% | +3.5% | +4.5% | |
| Q4 2023 | +1.0% | +5.8% | +11.7% | |
| Q3 2023 | -2.1% | +2.8% | +7.4% | |
| Q2 2023 | -7.8% | -7.1% | -17.3% | |
| Q1 2023 | +11.6% | +6.5% | +0.3% | |
| Q4 2022 | -4.4% | -3.2% | -19.1% | |
| Q3 2022 | -1.9% | -3.6% | +4.4% | |
| Q2 2022 | -5.1% | -11.3% | -19.1% | |
| Q1 2022 | +12.0% | +21.6% | +12.6% | |
| Q4 2021 | -8.5% | -5.9% | -16.8% | |
| Q3 2021 | -8.1% | -9.6% | -9.0% | |
| Q2 2021 | +2.6% | +4.9% | +7.2% | |
| Q1 2021 | -1.1% | +5.8% | +1.4% | |
| Q4 2020 | +5.9% | +7.0% | +18.2% | |
| Q3 2020 | +11.9% | +26.9% | +41.6% | |
| Q2 2020 | +0.6% | +7.2% | +8.5% | |
| Q1 2020 | -1.1% | +1.8% | +25.3% | |
| Q4 2019 | +3.6% | -1.3% | -27.6% | |
| Q3 2019 | +12.2% | +12.6% | +9.2% | |
| Q2 2019 | -16.6% | -18.9% | -27.4% | |
| Q1 2019 | -5.3% | +1.6% | +8.8% | |
| Q4 2018 | +6.6% | +12.3% | +3.6% | |
| Q3 2018 | -22.0% | -16.0% | -14.0% | |
| Q2 2018 | -18.3% | -15.9% | -13.3% | |
| Q1 2018 | -4.3% | -5.0% | -6.1% | |
| Q4 2017 | -6.8% | -6.1% | -8.5% | |
| Q3 2017 | +0.5% | -0.5% | +4.7% | |
| Q2 2017 | +3.5% | +5.0% | +2.9% | |
| Q1 2017 | -1.5% | -2.7% | -1.0% | |
| Q4 2016 | +4.0% | +4.7% | +7.6% | |
| Q3 2016 | +6.8% | +9.3% | +6.4% | |
| Q2 2016 | +2.6% | +1.8% | +2.6% | |
| Q1 2016 | +1.5% | — | — | |
| Q4 2015 | +4.6% | — | — | |
| Q3 2015 | -5.6% | — | — | |
| Q2 2015 | +0.5% | — | — | |
| Q1 2015 | +5.0% | — | — | |
| Q4 2014 | +7.3% | — | — | |
| Q3 2014 | +5.5% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | +6.4% | — | — | |
| Q4 2013 | -0.4% | — | — | |
| Q3 2013 | +3.5% | — | — | |
| Q2 2013 | +9.2% | — | — | |
| Q1 2013 | +6.8% | — | — | |
| Q4 2012 | +3.1% | — | — | |
| Q3 2012 | +3.9% | — | — | |
| Q2 2012 | +6.2% | — | — | |
| Q1 2012 | +0.7% | — | — | |
| Q4 2011 | +0.7% | — | — | |
| Q3 2011 | +0.7% | — | — | |
| Q2 2011 | -5.7% | — | — | |
| Q1 2010 | +7.7% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q4 2008 | -1.0% | — | — | |
| Q4 2010 | -1.0% | — | — | |
| Q3 2009 | -7.3% | — | — | |
| Q3 2010 | -7.3% | — | — | |
| Q4 2009 | +8.7% | — | — | |
| Q2 2009 | +8.7% | — | — | |
| Q2 2010 | +8.7% | — | — |
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