Mohawk's 1Q Earnings Beat Was the Highlight of an Otherwise Forgettable Quarter; $165 FVE Maintained
Mohawk's struggles continued during its first quarter, as the no-moat flooring manufacturer grappled with slowing global demand, unfavorable foreign currency translation, cost inflation, and manufacturing startup costs and inefficiencies. Reported sales grew just over 1% year over year, driven entirely by acquisitions. Excluding acquisitions, Mohawk's sales fell about 4%. To be fair, Mohawk's first-quarter sales were negatively affected by unfavorable currency and one less shipping day compared ...Mohawk Industries is a global flooring manufacturer for residential and commercial spaces around the world. The company has three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic, porcelain and natural stone tile products used for floor and wall applications; Flooring North America, which designs, manufactures, sources and distributes broadloom carpet, carpet tile, rugs and mats, carpet pad, laminate, medium-density fiberboard, luxury vinyl tile (LVT) and sheet vinyl; and Flooring Rest of the World, which designs, manufactures, sources and distributes laminate, LVT and sheet vinyl, wood flooring, broadloom carpet and carpet tile collections.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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