MOHAWK INDUSTRIES INC

Mohawk Industries announced the appointment of Paul F. De Cock as its new Chief Executive Officer and a Director, effective September 30, 2026. Mr. De Cock, currently President and COO, will succeed Jeffrey S. Lorberbaum, who will retire from his CEO role but remain as Chairman of the Board. This leadership transition is part of the company's succession planning, with Mr. De Cock bringing over two decades of industry experience to the role. His compensation package includes a base salary of $1,267,000 and a significant equity award.

Mohawk Industries announced that Paul F. De Cock, President and Chief Operating Officer, has been appointed Chief Executive Officer and a director, effective September 30, 2026. He will succeed Jeffrey S. Lorberbaum, who will retire from his CEO role at that time but continue as Chairman of the Board. Mr. De Cock brings over two decades of industry experience, having held senior leadership roles since joining Mohawk in 2005. Mr. Lorberbaum led Mohawk for 25 years, transforming it into the world's largest flooring manufacturer.

Mohawk Industries' stockholders approved the 2026 Incentive Plan, which reserves 3,500,000 shares of common stock for various equity-based and cash-based awards. The plan became effective on May 21, 2026, and is set to terminate on May 21, 2036. Additionally, at the Annual Meeting, stockholders elected three directors, ratified KPMG LLP as the independent auditor, and approved the non-binding advisory vote on executive compensation.

Mohawk Industries, Inc. entered into a New Credit Agreement on May 12, 2026, establishing an unsecured revolving credit facility of up to $1.5 billion. This new facility refinances the existing credit facility and will be used for ongoing working capital and general corporate purposes. The agreement includes an accordion feature allowing for an additional $600 million in commitments and matures on May 12, 2031, with extension options.

Mohawk Industries reported Q1 2026 net earnings of $117 million, or $1.90 EPS, on net sales of $2.7 billion, an 8.0% increase year-over-year. Adjusted net earnings and EPS were also $117 million and $1.90, respectively. The company repurchased 607,000 shares for $64 million. Despite a challenging environment with inflation and weak residential construction, performance was in line with expectations, benefiting from productivity and restructuring. Mohawk anticipates Q2 2026 adjusted EPS between $2.50 and $2.60, citing ongoing market volatility and rising energy costs.

Mohawk Industries reported a strong first quarter for 2026, with net sales increasing 8.0% to $2.73 billion and net earnings attributable to the company surging 61.3% to $117.1 million, resulting in basic EPS of $1.91. The company also saw a significant improvement in net cash provided by operating activities, reaching $110.1 million. While Global Ceramic and Flooring ROW segments showed robust sales and operating income growth, the Flooring North America segment experienced a notable decline in operating income despite a modest sales increase. The company continued its restructuring initiatives, incurring $37.4 million in costs during the quarter.

Mohawk Industries reported Q1 2026 adjusted EPS of $1.90 on net sales of $2.7 billion, an 8.0% increase as reported, but a 2.6% decrease adjusted for constant days and exchange rates. The company's performance was in line with expectations despite a challenging environment, benefiting from productivity and restructuring. Mohawk repurchased $64 million of its stock and expects Q2 adjusted EPS between $2.50 and $2.60, while navigating increased inflation and market volatility due to the Middle East conflict.

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.