Mohawk Industries, Inc. Second Quarter 2020 Earnings Call

Rhea-AI Summary

Mohawk Industries announced a rescheduled earnings call for August 7, 2020, in light of ongoing stockholder litigation. This follows an amended complaint received on June 29, 2020, related to a January 5, 2020 filing. The independent audit committee has engaged outside legal counsel and forensic accountants to investigate the allegations. The Form 10-Q filing is expected on August 6, 2020, prior to the earnings call, which will be accessible via their investor relations website.

Positive

• None

Negative

• Ongoing stockholder litigation may create uncertainty for the company.
• The need for an investigation suggests potential governance issues.

CALHOUN, Ga., July 28, 2020 (GLOBE NEWSWIRE) -- As previously disclosed on June 29, 2020, the Company received an amended complaint related to the stockholder litigation that was previously filed on January 5, 2020. The Company’s independent audit committee authorized both outside legal counsel and forensic accountants to conduct an investigation of the allegations. To allow the investigation to progress, the Company is rescheduling its earnings call to August 7, 2020 at 11:00 AM ET following the expected filing of its Form 10-Q on August 6, 2020.   

Live over the Internet:	www.mohawkind.com, select investor information
Live Conference Call:	Dial 1-800-603-9255 (US/Canada)
	Dial 1-706-634-2294 (Int’l)
	Dial 1-253-237-1879 (Int’l)
	Conference ID: 8039409

Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk’s vertically integrated manufacturing and distribution processes provide competitive advantages in the production of carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring. Our industry-leading innovation has yielded products and technologies that differentiate our brands in the marketplace and satisfy all remodeling and new construction requirements. Our brands are among the most recognized in the industry and include American Olean, Daltile, Durkan, Karastan, IVC, Marazzi, Mohawk, Pergo, Quick-Step and Unilin. During the past decade, Mohawk has transformed its business from an American carpet manufacturer into the world’s largest flooring company with operations in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.

For those unable to listen at the designated time, the call will remain available for replay over Mohawk Industries, Inc. investor relations website through September 4, 2020 or by dialing 1-855-859-2056 (US/Canada) or 1-404-537-3406 (Int’l/Local) and entering Conference ID # 8039409.

Contact:
Mohawk Industries, Inc.
Frank Boykin, Chief Financial Officer
706-624-2695

FAQ

What is the date of Mohawk Industries' rescheduled earnings call?

The earnings call is rescheduled for August 7, 2020.

Why was the earnings call for Mohawk Industries rescheduled?

The earnings call was rescheduled due to ongoing stockholder litigation and the subsequent investigation.

What was filed on August 6, 2020, by Mohawk Industries?

Mohawk Industries is expected to file its Form 10-Q on August 6, 2020.

What investigation is Mohawk Industries conducting?

The company is investigating allegations related to stockholder litigation, authorized by its independent audit committee.