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Apr 03, 2021
Mohawk Q1 2021 Earnings Report
Mohawk Industries announced record sales and highest ever first quarter EPS, driven by strong consumer demand and restructuring actions.
Key Takeaways
Mohawk Industries reported strong Q1 2021 results with net sales of $2.7 billion, up 16.8% as reported. Net earnings were $237 million, and EPS was $3.36. The company benefited from strong consumer demand, restructuring and productivity actions, and leverage on SG&A costs.
Net sales increased by 16.8% as reported and 9.1% on a constant currency and days basis.
Net earnings reached $237 million, with diluted EPS of $3.36.
The company purchased $123 million of its stock at an average price of approximately $179.
The company anticipates second quarter adjusted EPS to be $3.57 to $3.67.
Mohawk
Mohawk
Mohawk Revenue by Segment
Revenue by Segment
Global Ceramic Revenue
CapyFin.comFlooring North America Revenue
CapyFin.comFlooring Rest of World Revenue
CapyFin.com Forward Guidance
Mohawk Industries anticipates that historically low interest rates, government actions and fewer pandemic restrictions should improve its markets around the world. They foresee the present robust residential trends continuing with commercial sales slowly improving in the second period. Given these factors, they anticipate their second quarter adjusted EPS to be $3.57 to $3.67, excluding any restructuring charges.
Positive Outlook
- Historically low interest rates should improve markets.
- Government actions should improve markets.
- Fewer pandemic restrictions should improve markets.
- Robust residential trends are expected to continue.
- Commercial sales are expected to slowly improve.
Challenges Ahead
- Material availability could face future supply constraints.
- Challenging labor markets in some U.S. communities.
- Supplemental federal unemployment programs could interfere with staffing.
- Raw material costs could continue to rise.
- Energy costs could continue to rise.
Revenue & Expenses
Visualization of income flow from segment revenue to net income