Mohawk Year-End Results Released

Calhoun, GA, February 11, 2022- Mohawk reported Q4 2021 net sales were $2.8 billion, an increase of 4.5% compared to $2.6 billion in Q4 2020. For fiscal year 2021, net sales were $11.2 billion, an increase of 17.3% compared to $9.6 billion in fiscal year 2020.

Net earnings for Q4 2021 were $189 million, a decline of 34% compared to $248 million in Q4 2020. Net earnings for fiscal year 2021 were $1 billion, a 94% increase compared to $515.6 million in fiscal year 2020.

Q4 net sales for the global ceramic business were $949.5 million, a 3.2% increase compared to $919.7 million in Q4 2020. For the fiscal year 2021, global ceramic sales rose 14.7% to $3.9 billion from $3.4 billion in fiscal year 2020.

For Flooring NA, sales for Q4 2021 were $1 billion, an increase of 5.4% compared to Q4 2020’s $963 million. For fiscal year 2021, net sales for the Flooring NA business were $4.1 billion, a 14.5% increase compared to $3.6 billion in fiscal year 2020.

Flooring ROW sales were $796 million for Q4 2021, a 4.9% increase compared to $759 million in Q4 2020. For fiscal year 2021, Flooring ROW sales were $3.2 billion, a 28% increase compared to $2.5 billion in fiscal year 2020.

Mohawk Chairman and CEO Jeffrey S. Lorberbaum expects sales to remain strong.

"This year, GDP is expected to grow 3% to 5% in most of our markets, with residential sales remaining strong and commercial improving," he said during the company's earnings conference call this week. "Interest rates will likely rise but should remain historically favorable and support continued home sales and remodeling. During the year, we anticipate inflation moderating and constraints in labor, material and energy declining."