Mohawk Industries Inc. (Calhoun, Ga.) net earnings in the third quarter of 2013 were $119 million, a 40.9 percent increase compared with $70.3 million in the third quarter of 2012. Net sales were $2.0 billion, a 33 percent increase from the same period in 2012. Net sales were approximately $5.4 billion for the nine months ending Sept. 28, a 25 percent increase over 2012.
Net sales in the laminate and wood flooring segment were $451 million, up 37 percent over the third quarter 2012. The company credits the acquisition of Pergo and Spano for the increase.
"This quarter we are reporting the highest adjusted EPS in company history. During the period, higher U.S. volumes, efficiency improvements and the performance of our Pergo, Marazzi and Spano acquisitions supported our strong growth," Jeffrey S. Lorberbaum, Mohawk's chairman and CEO, said in a statement.
Mohawk says in North America, the integration of Unilin and Pergo is yielding improved productivity and efficiencies and new capacity is being added to satisfy increased demand for single planks. In both Russia and Australia, price increases of 4-8 percent were implemented on laminate and wood to offset currency changes. The new insulation board plant in France has begun production and is expanding our reach into new territories in France and Germany.
