Mohawk Industries Inc. (Dallas) reported a second quarter 2016 profit of $255 million, a 35 percent year-over-year increase.
Mohawk Industries Inc. (Dallas) reported a second quarter 2016 profit of $255 million, a 35 percent year-over-year increase.
Total sales for the second quarter of 2016 were $2.3 billion, an increase of 15 percent compared with sales of $2.0 billion in the second quarter of 2015.
"We are optimistic about our future performance as a result of our ongoing investments in people, products and assets,” said CEO Jeffrey Lorberbaum in a statement. “Our current booking trends have improved, and we anticipate that third quarter sales growth will be higher on a local basis.”
Sales in Mohawk’s Flooring North America segment were $980.69 million, up from $920.33 million in the second quarter of 2015.
“The segment's profitability improved, as we increased investments in sales personnel, retail merchandising and samples,” Lorberbaum said. “By the end of this year, we will install more engineered wood production to satisfy greater demand and produce higher value products.”
Sales in the Flooring Rest of World (ROW) segment were $499.84 million, up from $331.62 million in the second quarter of 2015.
“Our [ROW] flooring business continued to improve significantly, led by growth in premium laminate and LVT,” Lorberbaum said. “Our laminate mix benefited from higher sales of our innovative new collections featuring more realistic visuals and water resistance.”