CALHOUN, Georgia, May 2, 2026 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSE: MHK) announced today for the first quarter 2026 a net income of $117 million and earnings per share (EPS) of $1.90; the adjusted net income was also $117 million, and the adjusted EPS was $1.90. Net sales for the first quarter 2026 amounted to $2.7 billion, representing an increase of 8.0% year over year (unadjusted) or a decline of 2.6% on a comparable basis (with a constant days and
exchange rates). In Q1 2025 the company reported net sales of $2.5 billion, net income of $73 million, and EPS of $1.15; adjusted net income was $96 million, and adjusted EPS was $1.52.
In his commentary on the first quarter, the chairman and CEO Jeff Lorberbaum stated: “Our development was in line with our expectations despite a challenging environment. Our results reflect productivity gains, restructuring measures and the product mix benefits. However, these were largely offset by inflation and weaker demand. The prior year was affected by the system conversion and included four selling days fewer. Across all regions, the commercial business continued to outpace the residential segment. New-home construction remained subdued, and consumers postponed home purchases and renovations amid economic uncertainty. We are continuing to advance our productivity initiatives and execute the previously announced restructuring programs to further improve results. During the quarter we repurchased 607,000 of our own shares for a total of $64 million under the existing buyback authorization. Our strong balance sheet provides strategic and operational flexibility to capitalize on opportunities as they arise.
Towards the end of February, the Middle East conflict escalated, increasing volatility in global energy markets. The immediate consequences of the supply pressures were higher gasoline and diesel prices, contributing to a cautious consumer sentiment. Depending on the duration of the conflict, economic effects will vary across our markets. The rising inflation weighs on consumer sentiment and disposable income. In addition, energy prices and costs for oil and natural gas derivatives are rising and are impacting the prices of many of our products. We are implementing price increases in several product categories and regions. Further adjustments may be required. Due to our inventory turnover, the impact of higher input costs will be more noticeable in the second half of the year. We will continue to bring our new product collections to market with industry-leading design and innovative features to drive revenue and margins. At the same time, we are executing operating strategies that have helped us navigate prior disruptions, focusing on flexibility and cost control to respond to changes in demand, supply availability and cost volatility. Our focus remains on areas we can directly control—sales initiatives, inventories, discretionary spending and capital investments.
Regarding quarterly results by segment, net sales in the Global Ceramic segment rose 10.4% on a reported basis and fell 0.2% on a comparable basis (constant days and currency) versus the prior year. The segment operating margin was 4.7% (reported) and 5.0% (adjusted). Net sales in the Floorings NA segment rose 2.0% year over year on a reported basis and declined 4.1% on a comparable basis. The segment operating margin was 0.4% (reported) and 4.0% (adjusted). A month into Q2, we continue to adjust our business to the changes brought by the Middle East conflict. Inflation-driven price increases have been announced for a large part of our portfolio, and our order backlog has continued to rise. Commercial activity remains solid across regions, while housing renovation and new-home construction could be affected by consumer confidence. Our higher-end product offerings are performing well, and our new products are improving the product mix. We maintain our flexibility to respond to changes in supply chains, operating costs and market demand, keeping costs low, refining products and restricting capital expenditures. The full effects of our price actions and higher input costs will show more clearly in the third quarter. The duration of the Middle East conflict and inflationary pressures will influence how our markets are affected.
We are managing all aspects of the business we can control and respond to market changes as they occur. In the past, Mohawk has adapted to cyclical shifts and significant market disruptions, strengthening our business over the long term. A recovery in new housing starts is needed to keep pace with the growing number of households. We believe deferred renovations of aging housing stock in our regions will significantly boost demand for flooring products. While we navigate the current market, we are well positioned to benefit from the anticipated industry recovery.
MoHaWK INDUSTRIES OVERVIEW: Over the past two decades, Mohawk Industries has evolved into the world’s largest flooring company with leading positions in North America, Europe, South America and the Pacific region. Vertical integration across production and distribution provides a clear competitive advantage in ceramic tile as well as carpet, laminate, wood, vinyl and hybrid floors. Mohawk brands include American Olean, Daltile, Durkan, Eliane, Elizabeth, Feltex, Godfrey Hirst, Karastan, Marazzi, Mohawk, Mohawk Group, Pergo, Quick-Step, Unilin and Vitromex.
Forward-looking statements: Some statements in this release are “forward-looking statements” within the meaning of the federal securities laws and involve risks and uncertainties. These statements reflect management’s beliefs as of the date hereof and are not guarantees of future performance. Mohawk assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause actual results to differ include changes in economic conditions, tariff impacts, competition, inflation/deflation in freight, raw material and other input costs, currency fluctuations, energy costs, timing and extent of capital expenditures, timing and implementation of price increases, impairment charges, acquisitions, integration, international operations, new product introductions, streamlining of operations, taxes and tax reforms, product liability claims, legal proceedings, geopolitical events, regulatory and political changes and other risks described in Mohawk’s SEC filings and public disclosures.
Mohawk Industries, Inc. contact: Nicholas P. Manthey, Chief Financial Officer – (706) 624-2288
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