Mohawk Industries, Inc. is a leading global flooring manufacturer, creating products for residential and commercial spaces. The company's vertically integrated manufacturing and distribution processes provide competitive advantages in carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT), and sheet vinyl flooring. Mohawk's industry-leading innovation develops products and technologies that differentiate its brands in the marketplace. The company's brands include American Olean®, Daltile®, Durkan®, Eliane®, Feltex®, Godfrey Hirst®, IVC Commercial®, Karastan®, Marazzi®, Mohawk®, Pergo®, and Quick-Step®. Mohawk has transformed from an American carpet manufacturer into a global flooring company with operations in Australia, Brazil, Canada, Europe, Malaysia, Mexico, New Zealand, Russia, the United Kingdom and the United States.

The company operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

• Employees: Approximately 43,300 (as of December 31, 2023)
• Geographic Footprint: Operations in 19 countries and sales in approximately 170 countries
• Headquarters: Calhoun, Georgia
• Founded: 1992 (as a public company)
• Number of locations/facilities: 77 manufacturing facilities and 71 distribution/warehouse facilities
• Revenue: $11.1 billion (FY2023)
• Key Subsidiaries/Brands: American Olean®, Daltile®, Durkan®, Eliane®, Feltex®, Godfrey Hirst®, IVC Commercial®, Karastan®, Marazzi®, Mohawk®, Pergo®, Quick-Step®

• CEO: Jeffrey S. Lorberbaum
• CFO: James F. Brunk
• Chief Accounting Officer and Corporate Controller: William W. Harkins

• Annual Revenue: $11.1 billion (FY2023)
• Net Loss: $439.5 million (FY2023)
• Total Assets: $13.6 billion (as of December 31, 2023)
• Employees: Approximately 43,300 (as of December 31, 2023)
• Key Financial Highlights: Net loss attributable to the company was $439.5 million, compared to net earnings of $25.2 million in the prior year. The change was primarily attributable to lower sales volume, higher impairment charges, unfavorable net impact of price and product mix, the unfavorable impact of temporary plant shutdowns, the unfavorable net impact of foreign exchange rates, higher restructuring, acquisition and integration-related and other costs, higher legal settlements, reserves and fees, higher interest expense and higher costs associated with investments in new product development and marketing costs.

Mohawk offers a wide range of flooring products:

• Global Ceramic: Ceramic, porcelain, and natural stone tiles, as well as natural stone, porcelain slabs, and quartz countertops.
• Flooring NA: Broadloom carpet, carpet tile, rugs, laminate, LVT, sheet vinyl, and wood flooring.
• Flooring ROW: Laminate, LVT, sheet vinyl, wood flooring, broadloom carpet, carpet tile, roofing panels, insulation boards, MDF, and chipboards.

The company operates through three segments:

• Global Ceramic: Designs, manufactures, sources, distributes and markets a broad line of ceramic, porcelain and natural stone tile products. In 2023, this segment represented 39% of the company's total revenue.
• Flooring NA: Designs, manufactures, sources, distributes and markets a broad range of floor covering products in North America. In 2023, this segment represented 34% of the company's total revenue.
• Flooring ROW: Designs, manufactures, sources, distributes and markets a wide variety of laminate, LVT and sheet vinyl, wood flooring, broadloom carpet and carpet tile collections used in residential and commercial markets for both remodeling and new construction. In 2023, this segment represented 27% of the company's total revenue.

Mohawk's business strategy focuses on five key points: optimizing the company's position, treating employees fairly, driving innovation, taking reasonable risks, and enhancing the communities in which the company operates. The company aims to be the industry's preferred provider by delivering exceptional value to customers. Mohawk's strategy emphasizes continuous improvement, sustainability, and exceeding customer expectations. Key strategic initiatives include expanding capacity, introducing differentiated products, and improving efficiencies.

Mohawk is the largest flooring manufacturer in a fragmented industry. The principal methods of competition are product innovation, style, quality, price, performance technology and service. The company differentiates its products with premium features that provide a superior value proposition. Competitors range from small, privately-held firms to large multinationals. In 2022, the U.S. floor covering industry reported $37.6 billion in sales. The primary categories of flooring in the U.S. based on sales were carpet and rugs (33.7%), resilient (32.7%), ceramic tile (12.7%), wood (12.1%), stone (5.7%) and laminate (3.2%).

• Industry and Economic Risks: The floor covering industry is sensitive to changes in economic conditions, such as consumer confidence, income, spending, interest rates, and housing demand. Downturns in the U.S. and global economies could negatively impact the industry.
• Competitive Risks: The company faces intense competition in the flooring industry, which could decrease demand for its products or force it to lower prices.
• International Risks: The company's international operations are subject to risks including changes in foreign country regulations, differing business practices, import/export restrictions, foreign currency exchange rate fluctuations, and political instability.
• Operational Risks: The company may be unable to predict customer preferences or demand accurately, or to respond effectively to technological developments. It may also be unable to pass on increases in raw materials, labor, energy and fuel-related costs to its customers.
• Financial Risks: The company may be unable to obtain raw materials or sourced products on a timely basis, which could have a material adverse effect on its business.