Quarterly ResultJul 31, 2026, 04:03 PM
Mohawk Q2 Net Sales $3.0B, Adj. EPS $3.67; CEO Transition
AI Summary
Mohawk Industries reported Q2 2026 net sales of $3.00 billion, a 6.8% increase, and adjusted EPS of $3.67, significantly up from $2.77 in Q2 2025. The company's performance surpassed expectations, driven by volume growth, pricing, and product mix, including a $0.63 benefit from tariff refunds. Mohawk announced Paul De Cock will succeed Jeff Lorberbaum as CEO on September 30, 2026, with Lorberbaum remaining Chairman. The company also initiated new restructuring projects targeting $60 million in cost reductions by late 2027 and provided Q3 adjusted EPS guidance of $2.50-$2.60.
Key Highlights
- Paul De Cock to become CEO on Sept 30, 2026; Jeff Lorberbaum remains Chairman.
- Q2 2026 net sales rose 6.8% to $3.00 billion.
- Q2 2026 adjusted EPS increased to $3.67 from $2.77 year-over-year.
- Q2 adjusted EPS included a $0.63 benefit from tariff refunds.
- Company repurchased over 600,000 shares for approximately $60 million.
- New restructuring projects target $60 million in cost reductions by late 2027.
- Q3 2026 adjusted EPS guidance is $2.50-$2.60.
- Global Ceramic net sales increased 7.9% reported.
Price Impact
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