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Mohawk Industries, Inc. (NYSE: MHK) reported Q1 2026 net income of $117 million and earnings per share (EPS) of $1.90. Adjusted net income and adjusted EPS were also $117 million and $1.90, respectively.
For the quarter, Mohawk said net sales totaled $2,728.7 million, up 8.0% on a reported basis and down 2.6% on an adjusted basis versus the prior year. In Q1 2025, the company reported net sales of $2,525.8 million, net income of $73 million and EPS of $1.15, with adjusted net income of $96 million and adjusted EPS of $1.52.
Jeff Lorberbaum, Chairman and Chief Executive Officer, said results were “in line with our guidance” despite a challenging market environment. He cited productivity gains, restructuring effects, and product mix, while noting results were “tempered by inflation and volumes.”
Lorberbaum also referenced the prior year’s comparison, which included four fewer days of activity due to system migration. He said the commercial/industrial channel continues to outpace the residential sector, while new-home construction remains weak. He added that broader economic uncertainty is prompting consumers to delay real-estate purchases and renovation projects.
As part of its ongoing share-repurchase program, Mohawk bought back 607 thousand shares in the quarter for about $64 million. The company said its balance sheet remains strong, providing “strategic flexibility and operational agility.”
Mohawk said that as of late February, the Middle East conflict intensified and increased volatility in global energy markets. The company noted that the run-up in fuel prices has been rapid and has affected supply, contributing to consumer caution.
The company said persistent inflation is weighing on consumer confidence and discretionary spending, and that energy and natural-gas-derived product prices rose, affecting the cost of many Mohawk products. Mohawk said it increased prices across many product categories and geographic regions, with further increases possible.
It also said higher raw-material costs are expected to be more evident in the second half due to lower inventory levels. Mohawk stated it continues to launch new premium collections and is implementing previously announced operational strategies focused on adaptability and cost control.
Mohawk reported the following segment results for the first quarter:
Mohawk said that a month into the second quarter, it continues to adapt operations to the consequences of the Middle East conflict. The company reiterated that it has announced price increases across a large portion of its product portfolio to counter inflation, and that order backlogs remain strong.
It said it does not expect the impact of its pricing actions and input-cost increases until the third quarter. The company stated that the magnitude of the conflict’s impact will depend on the duration of disruptions and inflationary pressures.
Mohawk expects Q2 2026 adjusted EPS to be in the range of $2.50 to $2.60, assuming one less shipping day and excluding restructuring or other non-recurring charges.
Mohawk said it manages business levers under its control and responds to market trends on an ongoing basis. It stated that new-home construction must recover to meet household growth and that postponement of renovations across aging housing stock is expected to “substantially drive demand for flooring across all regions.”
Mohawk Industries describes itself as a global flooring leader with an operational footprint in North America, Europe, South America, and Oceania. The company said it is vertically integrated in manufacturing and distribution, producing ceramic tile, broadloom carpet, laminate, hardwood, vinyl, and hybrid flooring. Mohawk listed brands including American Olean, Daltile, Durkan, Eliane, Elizabeth, Feltex, Godfrey Hirst, Karastan, Marazzi, Mohawk, Mohawk Group, Pergo, Quick-Step, Unilin and Vitromex.
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