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mohawk industries inc (MHK) Details

Mohawk Industries, Inc., together with its subsidiaries, designs, manufactures, sources, distributes, and markets floor covering products for residential and commercial applications in both remodeling and new construction worldwide. It operates in three segments: Carpet; Ceramic; and Laminate and Wood. The Carpet segment offers carpet and rug product lines in various colors, textures, and patterns, as well as markets and distributes ceramic tile, laminate, hardwood, resilient floor covering, carpet pad, and flooring accessories. This segment markets and distributes its flooring products under Aladdin, Bigelow, Durkan, Horizon, Karastan, Lees, Mohawk, Mohawk ColorCenters, Mohawk Floorscapes, Mohawk Home, Portico, and SmartStrand brand names. The Ceramic segment provides ceramic tile, porcelain tile, and natural stone products, as well as sources, markets, and distributes other tile related products. This segment markets and distributes its products under American Olean, Daltile, Kerama Marazzi, Marazzi, and Ragno brand names. The Laminate and Wood segment offers laminate and hardwood flooring, as well as produces roofing elements, insulation boards, medium-density fiberboard, chipboards and other wood products in Europe. This segment markets and distributes its flooring products under Columbia Flooring, Century Flooring, Mohawk, Pergo, Quick-Step, and Unilin brand names. It also licenses the patented UNICLIC glueless installation system and various other new technologies, such as beveled edges, multiple length planks, and new surface and finish features. The company sells its products through independent floor covering retailers, home centers, independent distributors, mass merchandisers, department stores, shop at home, buying groups, ceramic specialists, commercial dealers, and commercial end users, as well as through private labeling programs. Mohawk Industries, Inc. was founded in 1988 and is headquartered in Calhoun, Georgia.

32,100 Employees
Last Reported Date: 02/28/14
Founded in 1988

mohawk industries inc (MHK) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.1M
President, Chief Operating Officer and Direct...
Total Annual Compensation: $912.3K
Chief Financial Officer
Total Annual Compensation: $568.9K
Chief Executive Officer of Unilin
Total Annual Compensation: $734.1K
President of Mohawk Flooring
Total Annual Compensation: $486.9K
Compensation as of Fiscal Year 2013.

mohawk industries inc (MHK) Key Developments

Mohawk Industries, Inc. Appoints William Henry Runge, III to Board of Directors

On July 24, 2014, Mohawk Industries Inc. appointed William Henry Runge, III to the Board of Directors to serve as a director in Class III for the company. Mr. Runge will serve with the other Class III directors for a term scheduled to expire at the company's Annual Meeting in 2016. He will also serve on the company's Compensation Committee. Mr. Runge is Managing Director with Alvarez & Marsal North America, LLC, where he has served since 2002.

Mohawk Industries Inc. to Report Q2, 2014 Results on Jul 31, 2014

Mohawk Industries Inc. announced that they will report Q2, 2014 results on Jul 31, 2014

Mohawk Industries Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter and Full Year of 2014

Mohawk Industries Inc. announced consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported operating income of $130.735 million against $86.842 million a year ago. Earnings from continuing operations before income taxes were $103.749 million against $61.299 million a year ago. Net earnings attributable to the company were $81.081 million or $1.11 per diluted share against $50.495 million or $0.72 per diluted share a year ago. Capital expenditures were $122.081 million against $63.282 million a year ago. Adjusted net earnings attributable to the company were $90.415 million or $1.23 per diluted share against $61.130 million or $0.87 per diluted share a year ago. Adjusted EBITDA was $218.582 million. Adjusted operating income was $142.460 million against $96.698 million a year ago. Adjusted earnings before income taxes were $115.474 million against $74.714 million a year ago. The company reports earnings ex-items of $90 million or $1.23 per share, a 41% increase over the $0.87 in the comparable quarter last year. Net sales were approximately $1.8 billion, an increase of 22% as reported and 21% on a constant exchange basis versus the prior year. Sales were impacted more than expected as difficult weather conditions continued through much of the quarter. For the second quarter 2014, the company expected earnings of $2.14 to $2.23 per share. The company anticipated an improvement in the U.S., resulting in a sales increase of 5% to 6% for the total company. For the full year 2014, the company expected earnings of $8.00 to $8.30 per share, excluding any unusual charges. During 2014, the company plans to invest $500 million in new capital expenditures, the high amount in company's history in various projects to support growth and margin expansion, including expanding carpet, fiber and yarn capacity, increasing tile capacity around the world and building an LVT plant. The company still expects the full year income tax rate of 22%, but anticipate the second quarter and the third quarter to be higher, and the fourth quarter to be lower by 200 to 300 basis points. The 2014 full year D&A is estimated at $350 million.


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