Mohawk Profits Increase 114% with Record Sales

Mohawk Industries (Calhoun, Ga.) reported net earnings of $237 million in the first quarter of 2021, a 114% increase compared with the first quarter of 2020.

Net sales at Mohawk grew 16.8% to $2.7 billion, an all-time record, according to Chairman and CEO Jeffrey Lorberbaum. The company also produced its highest ever first quarter earnings per share with $3.36.

“Our business continued to strengthen in the period and did not reflect our industry’s normal seasonality,” Lorberbaum stated. “Around the world, consumers are continuing to invest in their homes, and new flooring has a major role in most remodeling projects. We are also starting to see moderate improvement in commercial demand as global economies expand and businesses begin to invest in anticipation of a return to normal.”

The company’s North America segment’s sales increased 14.3%. Mohawk also announced plans to ramp up production of its Ultrawood line of water-proof natural wood flooring.

The full financial report can be found here.