mhk-20260404

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[Mark One]


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended April 4, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 01-13697

__________________________________________

MOHAWK INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Delaware

52-1604305

(State or other jurisdiction of
incorporation or organization)

(I.R.S. Employer
Identification No.)

160 S. Industrial Blvd.

Calhoun

Georgia

30701

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (706) 629-7721

__________________________________________

Securities Registered Pursuant to Section 12(b) of the Act:


Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, $.01 par value	MHK	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x

The number of shares outstanding of the issuer’s common stock as of April 29, 2026, the latest practicable date, is as follows: 60,953,145 shares of common stock, $.01 par value.

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MOHAWK INDUSTRIES, INC.

INDEX


		Page No
	Forward Looking Statements	3

Part I.	FINANCIAL INFORMATION

Item 1.	Financial Statements (unaudited)

	Condensed Consolidated Statements of Operations for the three months ended April 04, 2026 and March 29, 2025	4

	Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended April 04, 2026 and March 29, 2025	5

	Condensed Consolidated Balance Sheets as of April 04, 2026 and December 31, 2025	6

	Condensed Consolidated Statements of Cash Flows for the three months ended April 04, 2026 and March 29, 2025	7

	Notes to the Condensed Consolidated Financial Statements	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	23

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	28

Item 4.	Controls and Procedures	29

Part II.	OTHER INFORMATION

Item 1.	Legal Proceedings	30

Item 1A.	Risk Factors	30

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	30

Item 3.	Defaults Upon Senior Securities	30

Item 4.	Mine Safety Disclosures	30

Item 5.	Other Information	31

Item 6.	Exhibits	32

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Forward-Looking Statements

Certain of the statements in this Form 10-Q, particularly those anticipating future performance, business prospects, growth and operating strategies, and similar matters, and those that include the words “could,” “should,” “believes,” “anticipates,” “expects” and “estimates” or similar expressions constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For those statements, Mohawk Industries, Inc. (the “Company”) claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Management believes that these forward-looking statements are reasonable as and when made; however, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that the forward-looking statements will be accurate because they are based on many assumptions, which involve risks and uncertainties. Important factors that could cause future results to differ from historical experience and our present expectations or projections include, but are not limited to, the following: changes in economic or industry conditions; the impact of tariffs; competition; inflation and deflation in raw material prices, freight and other input costs; inflation and deflation in consumer markets; currency fluctuations; rising energy costs and changes in the level of supply thereof; timing and level of capital expenditures; timing and implementation of price increases for the Company’s products; impairment charges; identification and consummation of acquisitions on favorable terms, if at all; integration of acquisitions; international operations; introduction of new products; rationalization of operations; tax and tax reform, product and other claims; litigation; geopolitical conflicts; regulatory and political changes in the jurisdictions in which the Company does business; and other risks identified in Mohawk’s United States Securities and Exchange Commission reports and public announcements.

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PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)


	Three Months Ended
(In millions, except per share data)	April 4, 2026		March 29, 2025


Net sales	$	2,728.7	2,525.8
Cost of sales	2,086.8		1,942.5
Gross profit	641.9		583.3
Selling, general and administrative expenses	530.1		487.3

Operating income	111.8		96.0
Interest expense	2.4		6.4
Other (income) and expense, net	1.2		(0.5)
Earnings before income taxes	108.2		90.1
Income tax expense (benefit)	(8.9)		17.5


Net earnings including noncontrolling interests	117.1		72.6
Less: net earnings attributable to noncontrolling interests	—		—
Net earnings attributable to Mohawk Industries, Inc.	$	117.1	72.6



Basic earnings per share attributable to Mohawk Industries, Inc.	$	1.91	1.16
Weighted-average common shares outstanding—basic	61.4		62.6



Diluted earnings per share attributable to Mohawk Industries, Inc.	$	1.90	1.15
Weighted-average common shares outstanding—diluted	61.7		62.9

See accompanying notes to the Condensed Consolidated Financial Statements.

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MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)


	Three Months Ended
(In millions)	April 4, 2026		March 29, 2025


Net earnings including noncontrolling interests	$	117.1	72.6
Other comprehensive income (loss):
Foreign currency translation adjustments	(52.7)		255.4

Other comprehensive income (loss)	(52.7)		255.4
Comprehensive income	64.4		328.0
Less: comprehensive income attributable to noncontrolling interests	1.3		0.3
Comprehensive income attributable to Mohawk Industries, Inc.	$	63.1	327.7

See accompanying notes to the Condensed Consolidated Financial Statements.

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MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


(In millions, except par value and preferred stock shares)	April 4, 2026		December 31, 2025


ASSETS
Current assets:
Cash and cash equivalents	$	872.3	856.1

Receivables, net	2,092.7		1,924.1
Inventories	2,680.5		2,661.7
Prepaid expenses	544.0		512.2

Other current assets	10.7		13.0
Total current assets	6,200.2		5,967.1
Property, plant and equipment	10,978.9		11,032.0
Less: accumulated depreciation	6,316.3		6,260.0
Property, plant and equipment, net	4,662.6		4,772.0
Right of use operating lease assets	394.6		408.7
Goodwill	1,195.9		1,210.3
Tradenames	690.6		695.8
Other intangible assets subject to amortization, net	109.3		117.4
Deferred income taxes and other non-current assets	537.9		516.0
Total assets	$	13,791.1	13,687.3



LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt	$	381.1	289.3
Accounts payable and accrued expenses	2,370.2		2,310.4
Current operating lease liabilities	120.0		122.4
Total current liabilities	2,871.3		2,722.1
Deferred income taxes	171.1		185.4
Long-term debt, less current portion	1,730.2		1,741.2
Non-current operating lease liabilities	292.2		304.4
Other long-term liabilities	346.6		355.5
Total liabilities	$	5,411.4	5,308.6
Commitments and contingencies (Note 15)

Stockholders’ equity:
Preferred stock, $.01 par value; 60,000 shares authorized; no shares issued	$	—	—
Common stock, $.01 par value; 150.0 shares authorized; 68.4 and 68.8 shares issued 2026 and 2025, respectively	0.7		0.7
Additional paid-in capital	1,993.7		1,992.6
Retained earnings	7,555.6		7,503.1
Accumulated other comprehensive income (loss)	(959.3)		(907.9)
	8,590.7		8,588.5
Less: treasury stock at cost; 7.3 shares in 2026 and 2025	215.1		215.2
Total Mohawk Industries, Inc. stockholders’ equity	8,375.6		8,373.3
Noncontrolling interests	4.1		5.4
Total stockholders’ equity	8,379.7		8,378.7
Total liabilities and stockholders’ equity	$	13,791.1	13,687.3

See accompanying notes to the Condensed Consolidated Financial Statements.

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MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


	Three Months Ended
(In millions)	April 4, 2026		March 29, 2025


Cash flows from operating activities:
Net earnings including noncontrolling interests	$	117.1	72.6
Adjustments to reconcile net earnings to net cash provided by operating activities:
Restructuring, excluding accelerated depreciation	7.7		19.8

Depreciation and amortization	181.8		150.4
Deferred income taxes	(38.9)		(31.4)

(Gain) and loss on disposal of property, plant and equipment	1.4		(0.1)
Stock-based compensation expense	7.4		7.6

SEC Form 10-Q filed by Mohawk Industries Inc.