...September 4, 2024 We expect U.S.-based, global flooring manufacturer Mohawk Industries Inc.'s revenue will decrease by about 4% this year, with growth resuming in the 1%-3% range in 2025. The company's revenue for the first six months of fiscal 2024 (ended June 29) decreased approximately 4.8% compared to the same period in fiscal-year 2023, as lower volumes, pricing and product mix pressures, and the unfavorable impact of foreign exchange rates adversely impacted the company's topline. The lower volumes are primarily due to reduced consumer discretionary spending on repair and remodel projects due to higher interest rates. While overall volume trends were weak during the first six months of fiscal-year 2024, the company experienced stronger performance in the commercial sector compared to the residential sector. We expect some softness in demand will persist through the rest of this year, with improvement next year, particularly if consumer borrowing rates improve. We forecast Mohawk will...
