Mohawk Industries Says Hurricane Rebuilding Boost is Unlikely -- Market Talk

Dow Jones

2024/10/26

1446 ET - Mohawk Industries is expecting a $25 million to $40 million sales hit next quarter from hurricane impacts, CEO Jeff Lorberbaum tells analysts on a call. And it's unlikely to see a big boost from post-hurricane rebuilding anytime soon. It takes at least nine months to rebuild a heavily damaged home, Lorberbaum says, and flooring tends to be the last product to be installed. "So the timing of the rebuild from our perspective would be pushed through 2025," he says. He adds that any potential revenue lift will likely be spread out across quarters or even years. Shares fall 12.81%, making it Friday's worst-performing S&P 500 stock. (jasmine.li@wsj.com)

(END) Dow Jones Newswires

October 25, 2024 14:46 ET (18:46 GMT)

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And it's unlikely to see a big boost from post-hurricane rebuilding anytime soon. It takes at least nine months to rebuild a heavily damaged home, Lorberbaum says, and flooring tends to be the last product to be installed. \"So the timing of the rebuild from our perspective would be pushed through 2025,\" he says. He adds that any potential revenue lift will likely be spread out across quarters or even years. Shares fall 12.81%, making it Friday's worst-performing S&amp;P 500 stock. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"ATER":"Aterian Inc.","BK4588":"碎股","MHK":"莫霍克工业公司","BK4585":"ETF&股票定投概念","LU0205194284.USD":"SCHRODER ISF US SMALL & MID-CAP EQUITY \"A\" (USD) INC AV","BK4095":"家庭装饰品","LU0205193047.USD":"SCHRODER ISF US SMALL & MID-CAP EQUITY \"A\" (USD)  ACC"},"translate_title":"莫霍克工业公司表示飓风重建不太可能促进——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MHK":1,"ATER":1},"content_text":"1446 ET - Mohawk Industries is expecting a $25 million to $40 million sales hit next quarter from hurricane impacts, CEO Jeff Lorberbaum tells analysts on a call. And it's unlikely to see a big boost from post-hurricane rebuilding anytime soon. It takes at least nine months to rebuild a heavily damaged home, Lorberbaum says, and flooring tends to be the last product to be installed. \"So the timing of the rebuild from our perspective would be pushed through 2025,\" he says. 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