Mohawk Industries Introduces Strategic and Capital Allocation Framework and Announces New $500 Million Share Repurchase Authorization
Key Highlights
- ➤$500 million new share repurchase authorization approved, effective immediately
- ➤Prior $500 million program repurchased approximately 7% of shares at about $119 average
- ➤Baseline capital expenditures expected at approximately $375 million annually for several years
- ➤Long-term net debt to adjusted EBITDA target set at up to 2.0x
- ➤Bolt-on acquisitions to undergo disciplined evaluation for strategic and financial returns
Expert Statements
Paul De Cock, CEO of Mohawk Industries
“Mohawk’s strengths – our leading market positions, our recognized brands, our innovation expertise, our customer relationships, and the scale and efficiency of our manufacturing and distribution – remain firmly in place. Amplifying our strengths with a clear and defined strategic and capital allocation framework will sharpen our focus, support disciplined execution, and underpin strong cash generation. We will strategically invest to grow and will deploy excess free cash to create value for shareholders through buybacks.”
CALHOUN, Ga., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSE: MHK), the world’s largest flooring and design surfaces company, today introduced the strategic and capital allocation framework that will guide the Company’s priorities and shareholder value creation approach over the long term.
The framework was developed by management in collaboration with the Board of Directors, which has approved the plan. Consistent with the framework’s priorities, the Board has also approved a new share repurchase program authorizing the Company to repurchase up to $500 million of its common stock. Management will discuss the framework in more detail on the Company’s third quarter 2026 earnings conference call on Friday, October 30, 2026.
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