Mohawk Industries decreased adjusted EBITDA margin to 19.9% in 2Q2017

Mohawk Industries, a leading global flooring manufacturer, reported 4.5% decline of Adjusted EBITDA amid 10.5% increase of net sales in 2Q2017 in comparison with the previous quarter. According to the announcement, the company’s net sales accounted for USD 2,453 million, generating Adjusted EBITDA of USD 487 million (19.9% margin) in the period.

In January-June 2017 the company’s net sales accounted for USD 4,673.7 million, generating USD 873.3 million Adjusted EBITDA.

Jeffrey S. Lorberbaum, Chairman and CEO of Mohawk , commented:

“During the period, Mohawk delivered record results, generating the highest sales, adjusted operating income and adjusted EPS in the company’s history. Adjusted operating income increased to USD 381 million, up 7%, overcoming higher material and start-up costs and a reduction of IP income. Across the business, we are increasing prices to offset inflation, introducing innovative products and improving our productivity.”

Check other wood business-related companies 2Q2017 schedules for financial and operating results.

Earlier Mohawk Industries closed its flooring plant in the US.

About Mohawk Industries:

The company is a leading global flooring manufacturer. It has vertically integrated manufacturing and distribution processes securing efficient production of carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring. Its brand portfolio include American Olean, Bigelow, Daltile, Durkan, Karastan, Lees, Marazzi, Kerama Marazzi, Mohawk, Pergo, Unilin and Quick-Step. During the past decade, Mohawk has transformed its business from an American carpet manufacturer into a leading global flooring company with operations in Australia, Brazil, Canada, China, Europe, India, Malaysia, Mexico, Russia and the United States.

Source: Woodbizforum