Free Research Report as Mohawk’s Revenue Jumped 9%; Adjusted EPS Climbed 11%

Stock Monitor: Nova LifeStyle Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 17, 2018 / If you want access to our free earnings report on Mohawk Industries, Inc. (NYSE: MHK) (”Mohawk”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MHK. Mohawk reported its first quarter and fiscal 2018 operating and financial results on April 25, 2018. The flooring maker’s revenue and earnings numbers were in-line with market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Nova LifeStyle, Inc. (NASDAQ: NVFY), which also belongs to the Consumer Goods sector as the Company Mohawk Industries. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Mohawk Industries most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=MHK

Earnings Highlights and Summary

Mohawk’s net sales for the first quarter of 2018 were $2.41 billion, up 9% and 4% on a constant currency basis compared to net sales of $2.22 billion in the first quarter of 2017. The Company’s reported numbers matched analysts’ estimates of $2.41 billion.

Mohawk reported net earnings of $209.24 million, or $2.78 per diluted share, in Q1 2018 compared to net earnings of $201.06 million, or $2.68 per diluted share. The Company’s adjusted net earnings were $225.28 million or $3.01 per share, excluding restructuring, acquisition and other charges, reflecting an 11% increase on a y-o-y basis, as adjusted net earnings were $203.31 million, or $2.72 per share, excluding restructuring, acquisition, and other charges in the prior year’s same quarter. Mohawk’s earnings met Wall Street’s estimates of $3.01 per share.

Mohawk Industries’ Segment Results

During Q1 2018, the Global Ceramics segment’s sales increased 12% as reported and 8% on a constant currency basis to $876.5 million. The Company’s sales in Russia and Mexico grew the fastest, and its European acquisitions added approximately 6% to the reported quarter sales. The segment’s operating income, excluding charges, was $117 million for the reported quarter, with a margin of 13.3%. Productivity of $14 million and volume of $11 million offset $13 million of inflation and $7 million of price/mix decline.

For Q1 2018, the Flooring North America segment’s sales increased 1% to $950.4 million on a y-o-y basis. The segment’s operating margin was 8% as reported, absorbing increased inflation, restructuring and LVT start-up costs. The segment’s operating income, excluding charges, was $91 million compared to $94 million in the prior year’s corresponding quarter. Price/mix of $14 million and productivity of $13 million offset inflation of $25 million.

During Q1 2018, the Flooring Rest of the World segment’s sales advanced 18% as reported and 4% on a constant currency basis to $585.3 million, as local economies improved and the Euro strengthened. The segment’s operating income, excluding charges, was $93 million and increased 19% on a y-o-y basis. Price/mix of $31 million, currency of $6 million and productivity of $4 million offset inflation of $14 million along with lower IP income.

Cash Matters

Mohawk’s receivables ended Q1 2018 at $1.69 billion with days sale outstanding of 56 days. The Company’s inventories were $2.04 billion with inventory days at 116 days. The Company’s fixed assets ended Q1 2018 at $4.46 billion. The Company’s reported quarter capital expenditures were $251 million. For FY18, Mohawk is estimating CapEx of approximately $750 million with depreciation and amortization (D&A) of about $525 million, which exceeds FY18 amount by $75 million. The Company’s long-term debt ended the reported quarter at $2.9 billion with leverage at 1.5x debt-to-EBITDA.

Stock Performance Snapshot

May 16, 2018 – At Wednesday’s closing bell, Mohawk Industries’ stock marginally advanced 0.75%, ending the trading session at $210.55.

Volume traded for the day: 885.33 thousand shares, which was above the 3-month average volume of 836.75 thousand shares.

After yesterday’s close, Mohawk Industries’ market cap was at $15.46 billion.

Price to Earnings (P/E) ratio was at 15.38.

The stock is part of the Consumer Goods sector, categorized under the Home Furnishings & Fixtures industry. This sector was up 0.7% at the end of the session.

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