Inflation takes toll on Mohawk Industries results

CALHOUN, Ga. — Mohawk Industries announced Q4 net earnings of $229 million and diluted earnings per share of $3.05. Net sales for the quarter were $2.45 billion, up 3% in the quarter and 5% on a constant currency basis. Adjusted net earnings were $188 million and EPS came to $2.53, excluding restructuring, acquisition and other charges, a 26% decrease from last year. “The period was affected by significant inflation, slowing markets and LVT impacting sales of other products,” said Chairman and CEO Jeffrey Lorberbaum. “Even as we executed price increases in many products, our businesses experienced greater pressures on pricing and mix.”