Mohawk Industries, Inc. announced Q4 2024 net earnings of $93 million and earnings per share (“EPS”) of $1.48; adjusted net earnings were $123 million, and adjusted EPS was $1.95.
Net sales for the Q4 2024 were $2.6 billion, an increase of 1.0% as reported and a decrease of 1.0% on an adjusted basis versus the prior year. During the Q4 2023, the Company reported net sales of $2.6 billion, net earnings of $140 million and earnings per share of $2.18; adjusted net earnings were $125 million, and adjusted EPS was $1.96.
For the year ended December 31, 2024, net earnings and EPS were $518 million and $8.14, respectively; adjusted net earnings were $617 million, and adjusted EPS was $9.70.
Net sales for the year ended December 31, 2024 were $10.8 billion, a decrease of 2.7% as reported and 3.3% on an adjusted basis versus the prior year. For the year ended December 31, 2023, the Company reported net sales of $11.1 billion, a net loss of $440 million and a loss per share of $6.90; adjusted net earnings were $587 million, and adjusted EPS was $9.19. The Company’s prior-year earnings were impacted by non-cash impairment charges of $878 million.
Commenting on the Company’s Q4 and full year, Chairman and CEO Jeff Lorberbaum stated, “Our Q4 results exceeded our expectations as sales actions, restructuring initiatives and productivity improvements benefited our performance. Additionally, the negative sales impact from U.S. hurricanes was limited to approximately $10 million. While residential demand remained soft in our markets, our product introductions last year and our marketing initiatives contributed to our sales performance around the globe.”
Mohawk Industries is the leading global flooring manufacturer and creates products to enhance residential and commercial spaces around the world.
