Mohawk Reports 4% YOY Increase for Q1 With Sales of $1.9 Billion

Dalton, GA, May 8, 2015—Mohawk Industries had 2015 first quarter net sales of $1.9 billion, a 4% year over year increase, with earnings of $22 million, or diluted earnings per share of $.30.

Carpet segment net sales for the quarter were $739 million, up approximately 10% over last year as reported or 4% on a constant days basis. Commercial carpet outpaced residential growth with the most strength in the corporate business, and carpet tile outperformed broadloom. Margins were up in the commercial business. Polyester products continue to grow.

Ceramic segment net sales for the quarter were $720 million, up approximately 4% over last year as reported or an increase of approximately 9% on a constant days and currency exchange rate basis excluding a 2014 disposition of a ceramic plant.

Laminate and wood segment net sales for the quarter were $448 million, decreasing approximately 4% over last year as reported and increasing approximately 5% at a constant days and currency exchange rate basis. LVT continued to see good growth.

The company’s two announced acquisitions, Kai and IVC, are expected to close in the second quarter.