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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