Mohawk industries reports q3 results

Calhoun, ga., oct. 26, 2023 (globe newswire) -- mohawk industries, inc. (nyse: mhk) today announced a third quarter 2023 net loss of $760 million and a loss per share of $11.94 with the impact of non-cash impairment charges of $876 million. the company's current market capitalization along with continued challenging macroeconomic conditions and higher discount rates prompted a review of its goodwill and intangible asset balances, which resulted in the impairment charges. adjusted net earnings were $174 million, and adjusted earnings per share (“eps”) were $2.72, excluding impairment and other non-recurring charges. net sales for the third quarter of 2023 were $2.8 billion, a decrease of 5.2% as reported and 8.1% on a legacy and constant currency and days basis versus the prior year. during the third quarter of 2022, the company reported net sales of $2.9 billion, a net loss of $534 million and a loss per share of $8.40. adjusted net earnings were $212 million, and adjusted eps was $3.34, excluding impairment and other non-recurring charges.
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