Mohawk Industries Inc (0K2F.L) Q3 2024 Earnings Report

Mohawk Industries reported Q3 2024 results that reflect solid profitability and strong cash generation despite a modest sequential revenue deceleration. Revenue of $2.719 billion and gross profit of $692.6 million yielded a gross margin of 25.47%, with operating income of $212.3 million and an EBITDA of $369.2 million (EBITDA margin of 13.58%). Net income stood at $162.0 million, translating to earnings per share (EPS) of $2.57 (diluted $2.56). On the liquidity and leverage front, Mohawk maintained a robust balance sheet with cash and equivalents of $424 million and net debt of approximately $2.17 billion, resulting in a funded debt position that remains manageable given the company’s scale and cash generation. The company generated $319.6 million of operating cash flow and delivered free cash flow of $204.2 million, underscoring its ability to fund capital expenditure and optional deleveraging while supporting shareholder value via capital returns opportunities (though no dividend data is shown for the quarter). The working capital cadence showed pressure from inventory and receivables but was offset by favorable payables timing and other working capital movements, culminating in a net cash decrease of $73.4 million for the period and ending cash of $424 million.