Mohawk Industries Inc. (Calhoun, Ga.) reported third quarter net earnings of $109 million and earnings per share of $1.75. Net sales for the quarter were $2.8 billion, up 1.4% as reported and flat on an adjusted basis compared with the same quarter in 2024.
Net sales in the Flooring North America Segment decreased by 3.8% versus the prior year.
“Our net sales in the quarter were in line with our expectations, slightly ahead of prior year as reported," Chairman and CEO Jeff Lorberbaum said in a statement. "Though economic conditions across our regions weakened more than anticipated compared to the prior quarter, we believe we outperformed our markets."
Regarding tariffs, the company reported, "We continue to address the situation by optimizing our supply chain and implementing price adjustments on affected product categories."
Mohawk also reported that the shortage of available housing as supply has failed to keep pace with household formation, and that for more than three years, the flooring industry has been impacted both by consumers postponing large, discretionary purchases and low home sales, which have reduced new construction and remodeling activity.
The complete third quarter report can be found here.
