Mohawk's Q4 Profit Up 30.5%

Calhoun, GA, February 26, 2016—Mohawk Industries had net sales of $8.1 billion for FY 2015, compared to $7.8 billion in FY 2014, an increase of approximately 3%.

Net earnings and earnings per share (EPS) for the twelve month period were $615 million and $8.31, respectively; for FY 2014, excluding restructuring, acquisition and other charges, net earnings and EPS were $598 million and $8.15.

Mohawk announced 2015 fourth quarter net sales of 2015 of $2.0 billion, versus $1.95 billion for the fourth quarter of 2014, up 2% with four fewer shipping days.

Net earning for Q4 2015 were $192 million, or diluted EPS of $2.57, compared to net earnings were $147 million, or diluted EPS of $2.00 in the Q4 2014.

“Hard surface sales continue to outpace carpet growth and rugs are doing better than the segment overall,” says analyst Stifel of the company’s U.S. business. “Carpet revenues are down due to a shift to lower priced polyester products and lower prices with input costs down. Laminate and engineered wood sales are continuing to grow. Longer, wider planks are trending as more popular looks. The new LVT plant is ramping up to higher production levels, which should be at proper levels by the end of the year.”