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Mohawk (MHK)
NYSE:MHK
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.85Last Year’s EPS
$1.96Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: -21.54%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with both positive and negative aspects. While there was growth in earnings per share and strong free cash flow, the company faced challenges with declining net sales, pricing pressure, and weak consumer confidence. The restructuring initiatives and interest rate cuts provide optimism for future growth, but current market conditions remain challenging.Company Guidance
During the third quarter earnings call for Mohawk Industries, several key metrics were discussed along with guidance for the upcoming quarter. The company reported earnings per share (EPS) of $2.90, reflecting a 7% increase, despite a 2% year-over-year decline in net sales to $2.7 billion. Mohawk generated free cash flow of approximately $204 million in the quarter, totaling $443 million year-to-date. The company is investing $450 million in capital projects aimed at growth and cost reduction. Gross margin for the quarter was 25.5% as reported, or 26.2% on an adjusted basis. The guidance for the fourth quarter anticipates adjusted EPS between $1.77 and $1.87, factoring in the impact of recent hurricanes, which are expected to decrease sales by $25 million to $40 million. The company remains focused on productivity improvements, restructuring initiatives, and managing costs, with restructuring efforts expected to yield over $250 million in cost reductions when completed.Earnings Growth
Earnings per share increased by approximately 7% to $2.90, reflecting the positive impact of sales initiatives and cost management actions.
Strong Free Cash Flow
Generated free cash flow of approximately $204 million in the quarter, bringing the year-to-date total to $443 million.
Restructuring and Cost Savings
Executing $100 million restructuring initiatives, expected to generate over $250 million in cost reductions when completed.
Interest Rate Reductions
Interest rates were reduced in the U.S., Europe, and Latin America, expected to strengthen housing markets and increase flooring sales.
Productivity Initiatives
Achieved productivity gains of $44 million in the quarter, expected to continue similar gains in the fourth quarter.
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MHK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MHK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $151.87 | $130.88 | -13.82% |
| Jul 25, 2024 | $134.50 | $160.71 | +19.49% |
| Apr 25, 2024 | $110.27 | $115.45 | +4.70% |
| Feb 08, 2024 | $109.61 | $110.01 | +0.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mohawk (MHK) report earnings?
Mohawk (MHK) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is Mohawk (MHK) earnings time?
Mohawk (MHK) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MHK EPS forecast?
MHK EPS forecast for the fiscal quarter 2024 (Q4) is $1.85.
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