MOHAWK INDUSTRIES Reports Total Revenue of USD 2950.4 Million and Net Income of USD 101.2 Million for Q2 of FY2023
August 9, 2023
🌥️Earnings Overview
For the second quarter of FY2023, MOHAWK INDUSTRIES ($NYSE:MHK) reported total revenue of USD 2950.4 million and a net income of USD 101.2 million, ending June 30 2023. Compared to the same period last year, this indicates a 6.4% decrease in revenue and 63.9% decrease in net income.
Price History
On Thursday, MOHAWK INDUSTRIES stock opened at $117.6 and closed at $115.0, down by 0.9% from previous closing price of 116.1. Despite the lower than expected results, the company still managed to show a year-on-year increase in both revenue and net income. MOHAWK INDUSTRIES is an international leader in flooring and ceramic tile products and has manufacturing operations in the United States, Canada, Mexico, Europe, and other countries. The company recently announced a strategic review of its European business to identify potential opportunities for growth and expansion that will help it enhance its market position and profitability in the region.
The company’s financial performance in Q2 of FY2023 shows that it is well-equipped to face the challenges posed by a volatile economic environment. Despite the slight dip in total revenue and net income, MOHAWK INDUSTRIES is still on track to achieve its long-term goals and objectives. Going forward, the company will continue to focus on implementing measures that will help it further strengthen its competitive position in the global market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mohawk Industries. More…
| Total Revenues | Net Income | Net Margin |
| 11.32k | -319.06 | 1.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mohawk Industries. More…
| Operations | Investing | Financing |
| 669.15 | -625.34 | 194.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mohawk Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.59k | 6.37k | 128.86 |
Key Ratios Snapshot
Some of the financial key ratios for Mohawk Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.9% | 3.0% | -1.6% |
| FCF Margin | ROE | ROA |
| 0.8% | -1.3% | -0.8% |
Analysis
At GoodWhale, we have completed the analysis of MOHAWK INDUSTRIES‘s fundamentals. According to the Star Chart, MOHAWK INDUSTRIES is classified as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. This makes it an attractive investment opportunity for value investors, who are seeking out long-term investments with stable returns. We also found that MOHAWK INDUSTRIES has a healthy score of 8/10 in terms of cashflows and debt, indicating that it is capable to pay off debt and fund future operations. In terms of its performance, we found that MOHAWK INDUSTRIES is strong in profitability and medium in asset and weak in dividend and growth. This suggests that investors who are interested in income and capital appreciation should be cautious in their investments in MOHAWK INDUSTRIES. More…
Peers
Mohawk Industries Inc is one of the largest flooring companies in the world. Its main competitors are MillerKnoll Inc, Burberry Group PLC, and Traeger Inc.
– MillerKnoll Inc ($NASDAQ:MLKN)
Founded in 1893, Miller Knoll is one of the oldest and largest accounting firms in the United States. With over 120 years of experience, the company provides a full range of services, including auditing, tax, and consulting. It has a market cap of 1.35B and a ROE of 6.45%. Miller Knoll is a publicly traded company on the New York Stock Exchange.
– Burberry Group PLC ($LSE:BRBY)
Burberry Group PLC is a British luxury fashion house headquartered in London, England. Its main products are clothing, fragrances, and cosmetics. As of 2022, Burberry Group PLC has a market capitalization of 7.15 billion pounds and a return on equity of 21.58%. The company was founded in 1856 by Thomas Burberry and has since become one of the most recognizable luxury brands in the world.
– Traeger Inc ($NYSE:COOK)
Traeger Inc is a publicly traded company with a market capitalization of 417.38 million as of 2022. The company has a return on equity of -26.37%. Traeger Inc is engaged in the business of manufacturing and selling wood pellet grills and related accessories.
Summary
MOHAWK INDUSTRIES reported a total revenue of USD 2950.4 million and a net income of USD 101.2 million for the second quarter of FY2023 ending June 30 2023. The figures represent a decrease of 6.4% and 63.9%, respectively, compared to the same period in the prior year. Investors should consider the company’s performance to decide whether to invest. Factors such as increased competition, rising costs, and economic conditions should be taken into account when assessing the potential risks and rewards of investing in MOHAWK INDUSTRIES.
Analysts and investors should research the company’s financials including cash flow statements, debt-to-equity ratios, and other metrics to determine its long-term value. Investing in MOHAWK INDUSTRIES may be rewarding with the right research and analysis.
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