While Mohawk Industries’ (Calhoun, Ga.) overall sales did not move in the third quarter, sales of flooring internationally increased 12 percent to $523.34 million from $463.55 million in the third quarter of 2016.
Operating income for flooring sold internationally in the third quarter totaled $83.04 million, a 1.5 percent increase compared with operating income of $81.76 million in the third quarter of 2016.
“The segment had an exceptional quarter, with the majority of our manufactured product sales and earnings growing dramatically,” said CEO Jeffrey Lorberbaum in a statement. “Our patent revenue is running at a higher rate than we anticipated due to broader use of our patents and the increase in worldwide sales of LVT.”
Flooring sales in North America ticked up 1.9 percent to $1.03 billion, compared with sales of $1.01 billion in the third quarter of 2016. Operating income for the segment was $163.49 million, down 4.1 percent from its third quarter 2016 operating income of $170.51 million.
“The hurricanes in Texas and Florida interrupted normal purchasing patterns and impacted our sales during the period,” Lorberbaum said. “For the quarter, our soft surfaces sales growth exceeded hard surfaces, which were constrained by production limitations that will be addressed in the fourth quarter.”
Across all business segments, Mohawk reported a third-quarter profit of $270 million, up slightly from its profit of $269.8 million in the third quarter of 2016. Sales for the quarter were $2.45 billion, up 6.9 percent from its third-quarter 2016 sales of $2.29 billion.
