Earnings ·
Reports Q3 EPS of $2.72 and authorizes new $500 million share repurchase program
MHKMohawk Industries Inc
Mohawk Industries reported third-quarter net earnings of $163 million, or diluted EPS of $2.72, on net sales of $2.8 billion. The company generated $471 million in operating cash flow and $390 million in free cash flow for the quarter. Concurrently, the Board approved a new share repurchase program authorizing up to $500 million of common stock buybacks, following the completion of its prior authorization. Management provided fourth-quarter adjusted EPS guidance of $1.35 to $1.45. Mohawk Industries is the world’s largest flooring and design surfaces company.