Historic loss for American flooring manufacturer Mohawk

Mohawk, an American flooring manufacturer with leading market positions on four continents, has announced its annual results for 2023. Despite a revenue of 11.1 billion dollars, the company suffered a record loss of 440 million dollars, with a revenue decrease of 7.7% compared to 2022. The flooring manufacturer employs 43,300 people, operates in 170 countries, owns 19 factories, and serves 25,000 customers. The board of directors, previously dominated by individuals from West Flanders, has recently undergone changes.

CEO Jeff Lorberbaum acknowledges the current downturn and emphasizes the need for cost savings and restructuring to manage inflation. However, he expects a better 2024, especially in the second half, and hopes for lower interest rates to boost the economy. He predicts a faster recovery in North and South America than in Europe.



More information:
Mohawk
www.mohawkind.com