Mohawk’s 2021 Profits Surge 100% Despite Q4 Decline

Mohawk Industries’ net earnings soared in 2021 to more than $1 billion, a 100% increase compared with 2020’s net earnings of $516 million. Net sales for the year improved by 17.3%.

In the fourth quarter of 2021, the company reported net earnings of $189 million, a 23.8% decline compared with the fourth quarter of 2020. Net sales for the fourth quarter increased 4.5% to $2.8 billion.

“For the full year, Mohawk’s business improved significantly,” Chairman and CEO Jeffrey Lorberbaum said in a statement. Lorberbaum said he anticipates continued growth for the company in the upcoming year.

“Based on the strength of our company, our product and geographic diversity, investments in growing categories and potential acquisitions, our long-range outlook is for higher sales growth and margin expansion,” Lorberbaum stated. “Flooring is an essential part of new construction and remodeling, and, as the world’s largest flooring manufacturer, Mohawk has built leading positions in the major flooring categories and key markets around the globe.”

The full financial report can be found here.