Mohawk Industries (Calhoun, Ga.) reported net earnings of $196 million for the second quarter of 2026, up from $147 million last year, and earnings per share of $3.22, up from $2.34 last year ($3.67 adjusted EPS). Net sales for the quarter were $3.0 billion, up 6.8% year-over-year and up 5.0% adjusted for constant days and exchange rates.
"Our results in the quarter significantly exceeded our expectations as we outperformed our markets," Chairman and CEO Jeff Lorberbaum said. About $0.63 of the quarter's EPS came from tariff refunds, which were not included in its guidance.
Residential channels remained soft during the quarter while the commercial sector continued to outperform, according to Lorberbaum, who said the company believes it gained share in most regions. "The new home construction market remains pressured, and existing home sales continue to be affected by affordability challenges," he said.
The company raised prices across many products and geographies in response to higher labor, overhead, material, energy and transportation costs, and "additional price increases may be required this year" as those costs flow through inventory and pressure margins in the second half, Lorberbaum said.
Incoming CEO Paul De Cock, who is to succeed Lorberbaum on September 30, said, "Across the world, the home resale market remains near multi-decade lows, and new home construction remains soft."
Read the full press release here.
