Mohawk Industries Inc. announced first-quarter 2025 net earnings of $72.6 million, a 36.4% decrease from 2024’s first-quarter net earnings of $105 million.
Net sales for the first quarter of 2024 reached $2.5 billion, a 5.7% decrease from net sales of $2.6 billion in the same quarter last year.
“In the first quarter, our sales were relatively flat on a constant basis, absorbing two fewer shipping days and year-over-year foreign exchange headwinds,” CEO Jeff Lorberbaum said in a statement. “The impact of missed sales and extraordinary costs from the new Flooring North America order system was within the expected range, and service has returned to historical rates. Our earnings performance primarily benefited from productivity gains, restructuring actions and a lower tax rate, which partially offset pricing pressure and higher input costs.”
Net sales in the Flooring North America Segment were $862.4 million in the first quarter, a decrease of 4.2% compared with last year.
The full report for the fourth quarter of 2024 can be viewed here.
