Mohawk 2Q Results Down,but Ahead of Expectations

摘要

Floor covering company Mohawk Industries, parent of area, accent and bath rug business Mohawk Home, struggled during its second quarter despite efforts to slash expenses and reduce inventories. Although earnings slumped nearly 50%, the performance surpassed expectations. "Our results improved from the first quarter as we benefited from increased sales, lower costs and higher utilization rates," said Jeffrey Lorberbaum, chairman and ceo, during the company's second quarter earnings conference call July 31. "We are transitioning to a leaner, lower cost structure to emerge in a stronger position when the economy recovers."