NYSE$MHK
Mohawk Industries Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Mohawk Industries reported Q4 2023 results, exceeding expectations with benefits from cost containment, productivity, and lower input costs.
Mohawk Industries reported Q4 2023 net sales of $2.6 billion, a decrease of 1.4% as reported. Net earnings were $139 million, with an EPS of $2.18. The company focused on optimizing revenues and reducing costs through restructuring actions and manufacturing enhancements.
- Q4 results were ahead of expectations, driven by cost containment, productivity, and lower input costs.
- Inventory levels were aggressively managed, reducing working capital by more than $300 million compared to the prior year, excluding acquisitions.
- Closed the year with a net debt to adjusted EBITDA ratio of 1.5 times, free cash flow of $716 million, and available liquidity of $1.9 billion.
- Anticipates first quarter adjusted EPS to be between $1.60 and $1.70.
Headline financials
Revenue & EPS history
Mohawk · Revenue · Quarterly
$2.61B
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 first quarter adjusted EPS to be between $1.60 and $1.70.
Tailwinds
- Businesses are minimizing expenses, reducing overhead and restructuring operations to adapt to present conditions.
- Continuing to invest in innovative products to increase sales and mix.
- Reacting to competitive pressures to optimize volumes as they pass through declines in input costs.
- Continuing to manage inventory and anticipate temporary shutdowns to align with demand.
- Implementing process enhancement initiatives to reduce the impact of inflation.
Headwinds
- Industry is at a cyclical low and seasonality in the first quarter is expected to be more aligned with long-term historical levels.
- Pace of improvement of the flooring category will be dependent on inflation rates, consumer confidence and the strength of home sales.
- European markets could lag due to current geopolitical pressures.
- Commercial channel outperformed expectations, led by the hospitality sector.
- Reduced market volumes led to low industry utilization rates and aggressive competition in the marketplace.
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 Q4 2023
+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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