Quarterly ResultApr 30, 2026, 04:16 PM
MHK Q1 Net Earnings $117M, EPS $1.90; Sales $2.7B; $64M Buyback
AI Summary
Mohawk Industries reported strong first-quarter 2026 results, with net earnings increasing to $117 million and EPS to $1.90, despite a challenging environment. Net sales rose 8.0% as reported to $2.7 billion. The company repurchased $64 million of its stock and is implementing price increases and restructuring projects to counter inflation and geopolitical impacts. While the commercial sector remains solid, residential markets are soft, and the company anticipates higher input costs to impact the second half of the year. Mohawk provided Q2 adjusted EPS guidance of $2.50 to $2.60.
Key Highlights
- MHK Q1 2026 net earnings increased 60.3% to $117 million, with EPS of $1.90.
- Adjusted net earnings were $117 million, and adjusted EPS was $1.90, up 25.0% YoY.
- Net sales for Q1 2026 were $2.7 billion, up 8.0% as reported, but down 2.6% adjusted.
- Repurchased 607,000 shares for $64 million as part of stock buyback authorization.
- Global Ceramic Segment sales increased 10.4% reported, with 5.0% adjusted operating margin.
- Flooring Rest of World Segment sales increased 12.2% reported, with 9.8% adjusted operating margin.
- Flooring North America Segment sales increased 2.0% reported, with 4.0% adjusted operating margin.
- Expects Q2 2026 adjusted EPS between $2.50 to $2.60, excluding one-time charges.