On this page of StockholderLetter.com we present the latest annual shareholder letter from MOHAWK INDUSTRIES INC — ticker symbol MHK. Reading current and past MHK letters to shareholders can bring important insights into the investment thesis.
2023 ANNUAL REPORT Room for MORE
About Mohawk Mohawk Industries is the world s largest ooring PanuIaFturer with Iull\ integrated oSerations in 1orth $PeriFa (uroSe /atin $PeriFa and $ustralasia 2Yer the Sast two deFades Mohawk has eYolYed IroP a niFhe 8 6 FarSet PanuIaFturer to a gloEal residential and FoPPerFial suSSlier with leading Sositions in all PaMor SroduFt Fategories FeraPiF oor and wall tile FarSet and rugs laPinate and wood and lu[ur\ Yin\l tile /97 and sheet Yin\l 7he &oPSan\ s SroduFt line has e[Sanded to inFlude Tuart] and natural stone FountertoSs SorFelain slaEs Sanels and insulation SroduFts Mohawk SroduFes goods in nineteen Fountries and has sales in aSSro[iPatel\ nations
As the global flooring leader, we have more ways to drive greater sales and profitability. )roP geograShiF diYersit\ to a FoPSrehensiYe SroduFt SortIolio to industr\ leading innoYation to suFFessIul relationshiSs aFross sales Fhannels to a FoPPitPent to sustainaEilit\ Mohawk has Pan\ adYantages to sei]e signi Fant growth oSSortunities in residential and FoPPerFial new FonstruFtion and rePodeling $Iter e[tended e[Sosure to high in ation and rising interest rates we EelieYe our Parkets will reEound when rates deFline as historiFal norPs reinIorFe Pulti \ear growth aIter downturns :ith low housing aYailaEilit\ aging stoFk and greater household IorPation we EelieYe dePand in our Parkets will aFFelerate as soon as we enter a Pore IaYoraEle interest rate enYironPent Mohawk $nnual 5eSort 1
MORE Market Potential In our regions higher interest rates and in ation haYe led to deIerred rePodeling and reduFed residential FonstruFtion :hen interest rates Iall we EelieYe Pore oSSortunities will ePerge as housing Parkets reEound and Sent uS dePand driYes inFreased renoYation and new FonstruFtion Ior an e[tended Seriod )or \ears new hoPe FonstruFtion has trailed household IorPations leaYing a si]aEle de Fit in aYailaEle units *loEall\ Pillions oI hoPes entering their Seak rePodeling \ears will reTuire signi Fant inYestPents to retain their Yalue and FoPIort :e also e[SeFt greater PoPentuP in FoPPerFial aFtiYit\ though the lead tiPe oI SroMeFts IroP FonFeStion to FoPSletion Pakes the tiPing oI FoPPerFial growth Pore diI Fult to SrediFt
MORE Innovation 7o grow our Eusiness we are deliYering Pore innoYatiYe SroduFt designs and Ieatures that SroYide FoPSelling reasons to uSgrade residential and FoPPerFial sSaFes :e are introduFing Pore diIIerentiated SroduFts that FoPPand a higher retail SriFe and deliYer suSerior Pargins ' Srinted SorFelain slaEs that reSliFate natural stone renewaEle Sol\Per Fore 53& resilient ooring water SrooI laPinate with ultrarealistiF Yisuals and soShistiFated FarSet FolleFtions Pade to withstand aFtiYe IaPilies with Sets 3eoSle want to liYe work and Sla\ in EeautiIul sSaFes and we are FoPPitted to e[Feeding their e[SeFtations with SroduFts that e[Fite and insSire Mohawk $nnual 5eSort 3
 • shareholder letter icon 4/5/2024 Letter Continued (Full PDF)
 • stockholder letter icon 4/7/2023 MHK Stockholder Letter
 • stockholder letter icon More "Construction Materials & Machinery" Category Stockholder Letters
 • Benford's Law Stocks icon MHK Benford's Law Stock Score = 40


MHK Shareholder/Stockholder Letter Transcript:

2023 ANNUAL REPORT
Room for
MORE

About Mohawk
Mohawk Industries is the world   s largest
  ooring PanuIaFturer  with Iull\ integrated
oSerations in 1orth $PeriFa  (uroSe 
/atin $PeriFa and $ustralasia  2Yer the
Sast two deFades  Mohawk has eYolYed
IroP a niFhe 8 6  FarSet PanuIaFturer
to a gloEal residential and FoPPerFial
suSSlier with leading Sositions in all PaMor
SroduFt Fategories  FeraPiF   oor and
wall tile  FarSet and rugs  laPinate and
wood  and lu[ur\ Yin\l tile /97 and sheet
Yin\l  7he &oPSan\   s SroduFt line has
e[Sanded to inFlude Tuart] and natural
stone FountertoSs  SorFelain slaEs  Sanels
and insulation SroduFts  Mohawk SroduFes
goods in nineteen Fountries and has sales
in aSSro[iPatel\     nations 

As the global flooring leader,
we have more ways to drive
greater sales and profitability.
)roP geograShiF diYersit\  to a FoPSrehensiYe SroduFt SortIolio  to industr\ leading
innoYation  to suFFessIul relationshiSs aFross sales Fhannels  to a FoPPitPent to
sustainaEilit\  Mohawk has Pan\ adYantages to sei]e signi  Fant growth oSSortunities
in residential and FoPPerFial new FonstruFtion and rePodeling  $Iter e[tended
e[Sosure to high in  ation and rising interest rates  we EelieYe our Parkets will reEound
when rates deFline  as historiFal norPs reinIorFe Pulti \ear growth aIter downturns 
:ith low housing aYailaEilit\  aging stoFk and greater household IorPation  we EelieYe
dePand in our Parkets will aFFelerate as soon as we enter a Pore IaYoraEle interest
rate enYironPent 
Mohawk

     $nnual 5eSort

1

MORE Market Potential
In our regions  higher interest rates and in  ation haYe led to deIerred
rePodeling and reduFed residential FonstruFtion  :hen interest rates
Iall  we EelieYe Pore oSSortunities will ePerge as housing Parkets
reEound and Sent uS dePand driYes inFreased renoYation and new
FonstruFtion Ior an e[tended Seriod  )or \ears  new hoPe FonstruFtion
has trailed household IorPations  leaYing a si]aEle de  Fit in aYailaEle
units  *loEall\  Pillions oI hoPes entering their Seak rePodeling \ears
will reTuire signi  Fant inYestPents to retain their Yalue and FoPIort  :e
also e[SeFt greater PoPentuP in FoPPerFial aFtiYit\  though the lead
tiPe oI SroMeFts IroP FonFeStion to FoPSletion Pakes the tiPing oI
FoPPerFial growth Pore diI  Fult to SrediFt 

MORE Innovation
7o grow our Eusiness  we are deliYering Pore innoYatiYe SroduFt
designs and Ieatures that SroYide FoPSelling reasons to uSgrade
residential and FoPPerFial sSaFes  :e are introduFing Pore
diIIerentiated SroduFts that FoPPand a higher retail SriFe and deliYer
suSerior Pargins   ' Srinted SorFelain slaEs that reSliFate natural
stone  renewaEle Sol\Per Fore 53& resilient   ooring  water SrooI
laPinate with ultrarealistiF Yisuals  and soShistiFated FarSet FolleFtions
Pade to withstand aFtiYe IaPilies with Sets  3eoSle want to liYe  work
and Sla\ in EeautiIul sSaFes  and we are FoPPitted to e[Feeding their
e[SeFtations with SroduFts that e[Fite and insSire 
Mohawk

     $nnual 5eSort

3



shareholder letter icon 4/5/2024 Letter Continued (Full PDF)
 

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