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Mohawk Industries, Inc. reported first-quarter 2026 net income of $117 million, with earnings per share (EPS) of $1.90. Adjusted net income was also $117 million, and adjusted EPS was $1.90.
Net sales for the quarter totaled $2.7 billion, down 8.0% on a reported basis and down 2.6% on a days- and currency-adjusted basis versus the prior year. For the first quarter of 2025, Mohawk reported net sales of $2.5 billion, net earnings of $73 million and EPS of $1.15; adjusted net earnings were $96 million and adjusted EPS was $1.52.
Chairman and CEO Jeff Lorberbaum said the company’s net sales were in line with expectations despite a challenging environment. He cited productivity gains, restructuring and product mix as positives, offset by inflation and volume. Lorberbaum also noted that last year’s results were affected by a system conversion and included four fewer days.
He added that the commercial sector outperformed housing across regions, while new construction remained modest and consumers continued delaying purchases of new homes and revising projects due to economic uncertainty. Mohawk said it is implementing productivity actions and executing previously announced restructuring projects to improve results.
Mohawk repurchased 607,000 shares in the quarter for $64 million as part of its current share repurchase authorization. Lorberbaum said the company’s balance sheet provides room for strategic and operational flexibility.
Mohawk said that by the end of February, the conflict in the Middle East escalated, increasing volatility in global energy markets. It pointed to higher gasoline and diesel prices as the fastest, most visible effects of supply disruptions, contributing to greater consumer caution.
The company said the economic impact in its markets will depend on the duration of the conflict, with higher inflation dampening consumer sentiment and discretionary spending. Mohawk also cited higher energy prices and increased costs of oil and gas derivatives, which it said affect the cost of many of its products.
To address these pressures, Mohawk said it is implementing price increases for many product categories and regions, and that further increases may be needed. It added that the impact of higher raw material costs will be larger in the second half of the year due to inventory pass-through.
Global Ceramic: Net sales rose 10.4% on a reported basis, or declined 0.2% after days and currency adjustments versus the prior year. The segment’s operating margin was 4.7% as reported, or 5.0% on an adjusted basis. Mohawk attributed the margin performance to higher input costs and lower sales volume, partially offset by productivity gains and an improved pricing mix.
Flooring NA – Rest of World: Net sales rose 12.2% on a reported basis, or declined 4.4% after days and currency adjustments. The reported operating margin was 9.4%, or 9.8% on an adjusted basis, reflecting price competition pressure in the sector.
Flooring North America: Net sales rose 2.0% on a reported basis and declined 4.1% on a constant-exchange-rate basis year over year. The operating margin was 0.4% as reported, or 4.0% on an adjusted basis, driven by higher productivity, partially offset by higher input costs and price-competition pressure.
As the second quarter progresses, Mohawk said it is adjusting operations to changes in the environment stemming from the Middle East conflict. The company said price increases have been announced for a large portion of its assortment and that its order book has continued to grow.
Mohawk stated that the commercial market remains stable in all regions, while renovations and new home construction may be affected by weaker consumer confidence. It said its higher-end assortment is performing better and that new products strengthen its offering.
The company said it expects the full impact of its price actions and rising input costs to be reflected only in the third quarter. Based on these factors, Mohawk expects adjusted EPS for the second quarter to be between $2.50 and $2.60, excluding restructuring or other one-time charges.
Mohawk said it monitors business aspects within its influence and responds quickly to market changes. It added that more new homes must be built to meet growing housing demand and that postponed renovations of older housing stock are expected to significantly lift flooring demand. The company said it is prepared to benefit from the sector’s expected recovery.
Certain statements in the release, particularly those relating to future performance, business outlook, growth and strategies, are described as “forward-looking statements” under the Securities Act of 1933 and the Securities Exchange Act of 1934. Mohawk said it relies on the “safe harbor” for forward-looking statements under the Private Securities Litigation Reform Act of 1995 and that such statements involve risks and uncertainties. The company said it is not obligated to publicly update or revise forward-looking statements except as required by law.
Mohawk scheduled a conference call for Friday, May 1, 2026 at 11:00 a.m. Eastern Time. Online participation is available via https://ir.mohawkind.com/events/event-details/mohawk-industries-inc-1st-quarter-2026-earnings-call. For phone participation, pre-registration is available at https://dpregister.com/sreg/10207491/103969d29fe for a unique PIN. On the day of the call, participants can dial 1-833-630-1962 (US/Canada) or 1-412-317-1843 (international). The call will be available through May 29, 2026 via 1-855-669-9658 (US/Canada) or 1-412-317-0088 (international), Conference ID #7435080. The call will be archived for one year under the Investors tab on mohawkind.com.
Nicholas P. Manthey, Chief Financial Officer – (706) 624-2288
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