Mohawk's (MHK) Shares Up on Q2 Earnings Beat, Net Sales Miss [Yahoo! Finance]
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Mohawk Industries, Inc. (MHK)
Last mohawk industries, inc. earnings: 2/13 04:10 pm
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US:NYSE Investor Relations:
mohawkind.com/corporateiroverview.aspx
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Source: Yahoo! Finance
It reported an earnings beat in each of the trailing six quarters. On the other hand, net sales declined on a year-over-year basis and missed the consensus mark. The softness in the top line was driven by the ongoing inflationary conditions and market uncertainties that consumers are facing globally. These factors induced uncertainty among consumers regarding discretionary spending, thus affecting the sales volume. Also, the company's flooring remodeling is trapped under the pressures of elevated mortgage rates, higher home prices and the locked-in effect on homeowners. Although its commercial channel is faring well, MHK remains concerned about its residential purchases across its geographies, given the aforementioned headwinds. That said, the bottom line gained due to the company's effective implementation of its productivity initiatives and restructuring actions as well as lower energy and material costs, partially offset by the market pressure on pricing, mix and foreign exch
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MHK
News
- Mohawk Industries Names Mauro Vandini President – Global Ceramic Segment [Financial Post (Toronto, Ontario, Canada)]Financial Post
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MHK
Earnings
- 7/25/24 - Beat
MHK
Sec Filings
- 9/5/24 - Form 8-K
- 8/27/24 - Form 4
- 8/23/24 - Form 144
- MHK's page on the SEC website