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Mohawk Industries, Inc. has announced its financial results for the first quarter of 2025, reporting a net income of $73 million and earnings per share (EPS) of $1.15. When adjusted data is considered, the company reported a net income of $96 million and an adjusted EPS of $1.52. Net sales reached $2.5 billion, representing a 5.7% decline compared to the same period the previous year, when the company recorded $2.7 billion in sales, a net income of $105 million, and an EPS of $1.64.
Jeff Lorberbaum, Chairman and CEO of Mohawk, referenced the relative stability of sales in constant terms despite the challenges the company has faced, such as reduced shipping days and the negative impact of currency fluctuations. He also noted that the losses in sales and additional costs related to the implementation of a new ordering system in North America’s flooring segment were within expectations. According to Lorberbaum, the improvement in productivity has also helped alleviate price pressures.
However, the executive warned that market conditions have been gradually deteriorating, especially in the residential remodeling sector. Growing concerns among consumers about their economic outlook, along with the recent implementation of global tariffs, have increased uncertainty for both businesses and consumers. Mohawk, which has a strong domestic operational base for producing various types of flooring, is taking proactive measures in response to these new market realities.
Regarding specific segments, net sales in the global ceramics area fell by 4.9%, although adjusted sales increased by 1.2%. The operating margin was 4.2%. On the other hand, the flooring segment outside North America experienced an 8.8% decline in sales and an 8.8% margin. In North America, sales dropped by 4.2%, with an operating margin of 1.1%.
Lorberbaum concluded that, despite economic pressures stemming from inflation and lack of consumer confidence, the company remains optimistic about the long-term future of the flooring industry. He believes that cost optimization and investments in new products will help improve results as the market begins to recover. Projections for the second quarter indicate an adjusted EPS between $2.52 and $2.62, excluding extraordinary costs.
Additionally, the company has scheduled a conference call for May 2, 2025, where these results will be discussed and investors will have the opportunity to ask questions.
Referrer: MiMub in Spanish
