Mohawk Industries 公布 2025 年第二季度業績
卡爾霍恩，喬治亞州, July 26, 2025 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc.（NYSE: MHK）今天宣布 2025 年第二季度淨盈利為 1.47 億美元，每股盈利（「EPS」）為 2.34 美元；調整後淨盈利為 1.73 億美元，調整後每股盈利為 2.77 美元。 2025 年第二季度報告淨銷售額為 28 億美元，與去年相比基本持平，按固定天數和匯率調整後與去年相比下降了 0.8%。 在 2024 年第二季度，公司報告淨銷售額為 28 億美元，淨盈利為 1.57 億美元，每股盈利為 2.46 美元；調整後淨盈利為 1.92 億美元，而調整後每股盈利則為 3.00 美元。
截至 2025 年 6 月 28 日為止的六個月內，淨盈利及每股盈利分別為 2.19 億美元及 3.49 美元；調整後淨盈利為 2.69 億美元，調整後每股盈利則為 4.29 美元。 2025 年首六個月的淨銷售額為 53 億美元，按報告計較上年下跌 2.8%，按調整後基礎計算則下跌 0.7%。 截至 2024 年 6 月 29 日為止的六個月內，公司報告淨銷售額為 55 億美元，淨盈利及每股盈利分別為 2.62 億美元及 4.10 美元；調整後淨盈利為 3.10 億美元，調整後每股盈利則為 4.85 美元。
主席暨行政總裁 Jeff Lorberbaum 就公司第二季度的業績作出評論時表示：「在各個地區充滿挑戰的情況下，我們的業績反映了持續營運改進、成本控制措施和市場開拓計劃的成效。 過去 24 個月推出的優質住宅及商用產品以及新系列產品，亦為業績帶來正面影響。 重組行動正按計劃進行，透過關閉高成本業務、淘汰低效資產、精簡分銷，並運用科技降低行政及營運成本，實現了預期的節省。 全球營運團隊繼續發掘新方法提升生產力以降低成本，包括改進設備、節約能源、完善供應鏈及重新設計產品。 行業面對市場銷量下降的持續定價壓力，我們正透過強化產品和銷售渠道組合應對此影響。
在第二季度，我們所產生的自由現金流約為 1.25 億美元，並以約 4,200 萬美元回購約 393,000 股股份。 董事會近期批出新授權，將回購 5 億美元公司已發行普通股。 隨着行業從周期性低迷中復甦，我們對實現長期盈利增長的策略充滿信心。
鑑於關稅不斷上升，我們不斷強調本地生產產品的優勢，以及作為北美主要製造商的地位。 我們已開始透過調整價格和完善供應鏈應對已實施的關稅。 本月初，美國政府將各國完成關税談判的新截止日期定為 8 月 1 日，並宣布對主要貿易夥伴的具體關稅措施。 公司將密切留意關稅變動，並根據情況調整策略。
報告顯示全球陶瓷部門的淨銷售額增長了 0.5%，若計及固定工作天數及匯率因素，則較去年同期增長 1.1%。 受益於價格及產品組合的正面淨影響以及生產力提升，該部門的營業利潤率據報告為 7.9%（調整後為 8.1%），部分被投入成本上升所抵銷。
根據報告，世界其他地區地板部門的淨銷售額增長了 1.0%，但若計及固定工作天數和匯率因素，則較去年同期下降了 3.0%。 該部門的營業利潤率按報告為 9.0%，但由於生產力提升，經調整後為 10.4%，部分被行業競爭定價所抵銷。
北美地板部門的淨銷售額按報告較去年同期下降 1.2%。 由於投入成本上升和工廠臨時關閉的不利影響，該部門的營業利潤率按報告為 5.5%（調整後為 7.3%），部分被強勁生產力提升所抵銷。
在專注市場開拓、營運改善和成本控制之際，我們將繼續採取行動，改善在當前市場上的業績。 行業銷售額受到持續通脹和消費者信心低迷所限制，市場出現轉捩點的時間仍難以預測。 為提升銷售額，我們將善用產品組合優勢、卓越服務和品牌價值，與現有及新客戶拓展合作關係。 儘管市場定價壓力仍然明顯，但我們正透過優質產品、商業銷售及推出新產品，改善產品組合。 投入成本壓力將會持續，有關影響會在第三季度隨庫存流轉達到峰值。 為緩解成本上升壓力，團隊繼續在所有營運範疇實施生產力提升措施。 預計今年重組行動將帶來約 1 億美元的效益，並加強公司未來的營運能力。 美國貿易政策變動應利好 Mohawk，因我們約 85% 在美銷售來自北美生產的商品。 我們會透過完善供應鏈、改善成本及調整價格來應對關稅影響。 目前我們的業績指引尚未納入新關税的潛在影響，因為相關措施尚未定案。 鑑於這些因素，我們預計在扣除重組或其他一次性費用後，第三季度調整後的每股盈利將介乎 2.56 美元至 2.66 美元之間。
過往經驗顯示，行業下行周期結束後，會因積壓需求釋放而迎來數年的銷售增長。 過去三年，我們進行針對性投資以提升營運表現、成本狀況和產品特性。 這些措施使我們處於戰略地位，應對當前挑戰，並在行業復甦時把握機遇。」
關於 MOHAWK INDUSTRIES
Mohawk Industries 是全球領先的地板製造商，為約 180 個國家的住宅與商業空間提供優質產品。 在過去的二十年，我們於北美、歐洲、南美、大洋洲及亞洲設立生產基地，持續擴張全球營運版圖。 我們垂直整合了製造與分銷流程，為瓷磚、地氈、層壓地板、實木地板、石材地板及乙烯基塑膠地板的生產帶來競爭優勢。 我們的創新能力於業內傲視同儕，產品及技術令本品牌在市場上脫穎而出，可滿足所有改建和新建設項目的要求。 我們是在行內最受認可的品牌，當中包括 American Olean、Daltile、Durkan、Eliane、Elizabeth、Feltex、Godfrey Hirst、Karastan、Marazzi、Mohawk、Mohawk Group、Pergo、Quick-Step、Unilin 及 Vitromex。
上文各段落的若干陳述，特別是預期未來業績、業務前景、增長和經營策略以及類似事項，以及包含「可以」、「應該」、「相信」、「預期」、「預計」和「估計」等詞語的陳述或類似表述構成 1933 年證券法（經修訂）第 27A 條及 1934 年證券交易法（經修訂）第 21E 條界定的「前瞻性陳述」。 對於這些陳述，Mohawk 聲明受 1995 年私人證券訴訟改革法案 （Private Securities Litigation Reform Act of 1995）中包含的前瞻性陳述安全港的保護。 管理層認為，這些前瞻性陳述在發表時屬合理陳述；然而，有關陳述僅限於發表當日有效，因此閣下應謹慎行事，不應過度依賴任何相關前瞻性陳述。 除法律要求外，該公司不會承擔對任何前瞻性陳述作公開更新或修訂的責任，無論是由於新資訊、未來事件或其他原因所導致。 無法保證前瞻性陳述的準確性，因為其基於許多假設，涉及諸多風險和不確定性。 以下的重要因素可能導致未來結果與歷史經驗及我們當前的預期或預測出現差異，其中包括：經濟或行業狀況變化；關稅的影響；競爭；貨運、原材料價格和其他投入成本通貨膨脹和通貨緊縮；消費市場通貨膨脹和通貨緊縮；貨幣波動；能源成本和供應；資本支出的時機和水平；公司產品提價的時機和實施情況；減值費用；在有利條件下（如有）確定並完成收購；收購整合；國際營運；新產品的推出；營運合理化；稅收和稅務改革、產品和其他權利要求；訴訟；地緣政治衝突；公司開展業務的司法管轄區的監管和政治變化；以及 Mohawk 的美國證券交易委員會報告和公告中指出的其他風險。
電話會議，2025 年 7 月 25 日，星期五，東部時間上午 11:00
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| MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES | |||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||
| (Unaudited) | |||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||
| (In millions, except per share data) | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | |||||||||
| Net sales | $ | 2,802.1 | 2,801.3 | 5,327.9 | 5,480.7 | ||||||||
| Cost of sales | 2,087.7 | 2,077.5 | 4,030.2 | 4,107.4 | |||||||||
| Gross profit | 714.4 | 723.8 | 1,297.7 | 1,373.3 | |||||||||
| Selling, general and administrative expenses | 525.7 | 509.8 | 1,012.9 | 1,012.7 | |||||||||
| Operating income | 188.7 | 214.0 | 284.8 | 360.6 | |||||||||
| Interest expense | 5.2 | 12.6 | 11.6 | 27.5 | |||||||||
| Other (income) and expense, net | 3.0 | 1.6 | 2.7 | 0.5 | |||||||||
| Earnings before income taxes | 180.5 | 199.8 | 270.5 | 332.6 | |||||||||
| Income tax expense | 34.0 | 42.3 | 51.5 | 70.1 | |||||||||
| Net earnings including noncontrolling interests | 146.5 | 157.5 | 219.0 | 262.5 | |||||||||
| Net earnings attributable to noncontrolling interests | — | 0.1 | — | 0.1 | |||||||||
| Net earnings attributable to Mohawk Industries, Inc. | $ | 146.5 | 157.4 | 219.0 | 262.4 | ||||||||
| Basic earnings per share attributable to Mohawk Industries, Inc. | $ | 2.35 | 2.47 | 3.50 | 4.12 | ||||||||
| Weighted-average common shares outstanding - basic | 62.3 | 63.6 | 62.5 | 63.7 | |||||||||
| Diluted earnings per share attributable to Mohawk Industries, Inc. | $ | 2.34 | 2.46 | 3.49 | 4.10 | ||||||||
| Weighted-average common shares outstanding - diluted | 62.6 | 63.9 | 62.7 | 64.0 | |||||||||
| Other Financial Information | |||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||
| (In millions) | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | |||||||||
| Net cash provided by operating activities | $ | 206.3 | 233.6 | 210.0 | 417.3 | ||||||||
| Less: Capital expenditures | 80.2 | 91.4 | 169.3 | 178.2 | |||||||||
| Free cash flow | $ | 126.1 | 142.2 | 40.7 | 239.1 | ||||||||
| Depreciation and amortization | $ | 155.6 | 171.5 | 306.0 | 325.7 | ||||||||
| MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES | ||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| (Unaudited) | ||||||
| (In millions) | June 28, 2025 | June 29, 2024 | ||||
| ASSETS | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 546.7 | 497.4 | |||
| Receivables, net | 2,254.8 | 2,018.5 | ||||
| Inventories | 2,709.9 | 2,579.9 | ||||
| Prepaid expenses and other current assets | 553.5 | 545.5 | ||||
| Total current assets | 6,064.9 | 5,641.3 | ||||
| Property, plant and equipment, net | 4,778.0 | 4,759.2 | ||||
| Right of use operating lease assets | 409.9 | 396.2 | ||||
| Goodwill | 1,201.1 | 1,136.7 | ||||
| Intangible assets, net | 843.5 | 841.4 | ||||
| Deferred income taxes and other non-current assets | 481.4 | 504.8 | ||||
| Total assets | $ | 13,778.8 | 13,279.6 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Current liabilities: | ||||||
| Short-term debt and current portion of long-term debt | $ | 458.8 | 718.0 | |||
| Accounts payable and accrued expenses | 2,278.2 | 2,109.8 | ||||
| Current operating lease liabilities | 116.2 | 109.9 | ||||
| Total current liabilities | 2,853.2 | 2,937.7 | ||||
| Long-term debt, less current portion | 1,742.2 | 1,691.5 | ||||
| Non-current operating lease liabilities | 311.9 | 301.6 | ||||
| Deferred income taxes and other long-term liabilities | 573.9 | 696.3 | ||||
| Total liabilities | 5,481.2 | 5,627.1 | ||||
| Total stockholders' equity | 8,297.6 | 7,652.5 | ||||
| Total liabilities and stockholders' equity | $ | 13,778.8 | 13,279.6 | |||
| Segment Information | ||||||||||||||
| Three Months Ended | As of or for the Six Months Ended | |||||||||||||
| (In millions) | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | ||||||||||
| Net sales: | ||||||||||||||
| Global Ceramic | $ | 1,120.9 | 1,115.6 | $ | 2,114.7 | 2,160.4 | ||||||||
| Flooring NA | 946.8 | 958.5 | 1,809.2 | 1,858.7 | ||||||||||
| Flooring ROW | 734.4 | 727.2 | 1,404.0 | 1,461.6 | ||||||||||
| Consolidated net sales | $ | 2,802.1 | 2,801.3 | $ | 5,327.9 | 5,480.7 | ||||||||
| Operating income (loss): | ||||||||||||||
| Global Ceramic | $ | 88.2 | 83.1 | $ | 130.0 | 131.9 | ||||||||
| Flooring NA | 52.5 | 78.3 | 61.8 | 123.3 | ||||||||||
| Flooring ROW | 65.8 | 65.6 | 124.5 | 136.5 | ||||||||||
| Corporate and intersegment eliminations | (17.8 | ) | (13.0 | ) | (31.5 | ) | (31.1 | ) | ||||||
| Consolidated operating income | $ | 188.7 | 214.0 | $ | 284.8 | 360.6 | ||||||||
| Assets: | ||||||||||||||
| Global Ceramic | $ | 5,158.4 | 4,931.5 | |||||||||||
| Flooring NA | 4,034.5 | 3,940.2 | ||||||||||||
| Flooring ROW | 4,078.7 | 3,899.2 | ||||||||||||
| Corporate and intersegment eliminations | 507.2 | 508.7 | ||||||||||||
| Consolidated assets | $ | 13,778.8 | 13,279.6 | |||||||||||
| Reconciliation of Net Earnings Attributable to Mohawk Industries, Inc. to Adjusted Net Earnings Attributable to Mohawk Industries, Inc. and Adjusted Diluted Earnings Per Share Attributable to Mohawk Industries, Inc. | |||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||
| (In millions, except per share data) | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | |||||||||
| Net earnings attributable to Mohawk Industries, Inc. | $ | 146.5 | 157.4 | 219.0 | 262.4 | ||||||||
| Adjusting items: | |||||||||||||
| Restructuring, acquisition and integration-related and other costs | 29.4 | 41.4 | 55.7 | 49.3 | |||||||||
| Software implementation cost write-off | — | — | (0.4 | ) | — | ||||||||
| Legal settlements, reserves and fees | 4.9 | 1.3 | 5.5 | 10.1 | |||||||||
| Adjustments of indemnification asset | (0.1 | ) | (0.2 | ) | (0.1 | ) | 2.2 | ||||||
| Income taxes - adjustments of uncertain tax position | 0.1 | 0.2 | 0.1 | (2.2 | ) | ||||||||
| Income tax effect of adjusting items | (7.5 | ) | (8.6 | ) | (11.0 | ) | (11.5 | ) | |||||
| Adjusted net earnings attributable to Mohawk Industries, Inc. | $ | 173.3 | 191.5 | 268.8 | 310.3 | ||||||||
| Adjusted diluted earnings per share attributable to Mohawk Industries, Inc. | $ | 2.77 | 3.00 | 4.29 | 4.85 | ||||||||
| Weighted-average common shares outstanding - diluted | 62.6 | 63.9 | 62.7 | 64.0 | |||||||||
| Reconciliation of Total Debt to Net Debt | |||
| (In millions) | June 28, 2025 | ||
| Short-term debt and current portion of long-term debt | $ | 458.8 | |
| Long-term debt, less current portion | 1,742.2 | ||
| Total debt | 2,201.0 | ||
| Less: Cash and cash equivalents | 546.7 | ||
| Net debt | $ | 1,654.3 | |
| Reconciliation of Net Earnings to Adjusted EBITDA | |||||||||||||||
| Trailing Twelve | |||||||||||||||
| Three Months Ended | Months Ended | ||||||||||||||
| (In millions) | September 28, 2024 |
December 31, 2024 |
March 29, 2025 |
June 28, 2025 |
June 28, 2025 |
||||||||||
| Net earnings including noncontrolling interests | $ | 162.0 | 93.2 | 72.6 | 146.5 | 474.3 | |||||||||
| Interest expense | 11.2 | 9.8 | 6.4 | 5.2 | 32.6 | ||||||||||
| Income tax expense | 39.8 | 18.3 | 17.5 | 34.0 | 109.6 | ||||||||||
| Net (earnings) loss attributable to noncontrolling interests | — | — | — | — | — | ||||||||||
| Depreciation and amortization(1) | 156.2 | 156.4 | 150.4 | 155.6 | 618.6 | ||||||||||
| EBITDA | 369.2 | 277.7 | 246.9 | 341.3 | 1,235.1 | ||||||||||
| Restructuring, acquisition and integration-related and other costs | 15.1 | 20.3 | 20.8 | 25.3 | 81.5 | ||||||||||
| Software implementation cost write-off | 7.8 | 5.1 | (0.4 | ) | — | 12.5 | |||||||||
| Impairment of goodwill and indefinite-lived intangibles | — | 8.2 | — | — | 8.2 | ||||||||||
| Legal settlements, reserves and fees | 0.7 | (0.9 | ) | 0.6 | 4.9 | 5.3 | |||||||||
| Adjustments of indemnification asset | (0.4 | ) | — | — | (0.1 | ) | (0.5 | ) | |||||||
| Adjusted EBITDA | $ | 392.4 | 310.4 | 267.9 | 371.4 | 1,342.1 | |||||||||
| Net debt to adjusted EBITDA | 1.2 | ||||||||||||||
(1)Includes accelerated depreciation of $4.4 for Q3 2024, $5.3 for Q4 2024, $5.4 for Q1 2025 and $4.1 for Q2 2025.
| Reconciliation of Net Sales to Adjusted Net Sales | |||||||
| Three Months Ended | Six Months Ended | ||||||
| (In millions) | June 28, 2025 | June 28, 2025 | |||||
| Mohawk Consolidated | |||||||
| Net sales | $ | 2,802.1 | 5,327.9 | ||||
| Adjustment for constant shipping days | 12.0 | 89.9 | |||||
| Adjustment for constant exchange rates | (34.4 | ) | 22.5 | ||||
| Adjusted net sales | $ | 2,779.7 | 5,440.3 | ||||
| Three Months Ended | ||||
| June 28, 2025 | ||||
| Global Ceramic | ||||
| Net sales | $ | 1,120.9 | ||
| Adjustment for constant shipping days | 12.0 | |||
| Adjustment for constant exchange rates | (5.0 | ) | ||
| Adjusted net sales | $ | 1,127.9 | ||
| Flooring ROW | ||||
| Net sales | $ | 734.4 | ||
| Adjustment for constant exchange rates | (29.4 | ) | ||
| Adjusted net sales | $ | 705.0 | ||
| Reconciliation of Gross Profit to Adjusted Gross Profit | |||||||
| Three Months Ended | |||||||
| (In millions) | June 28, 2025 | June 29, 2024 | |||||
| Gross Profit | $ | 714.4 | 723.8 | ||||
| Adjustments to gross profit: | |||||||
| Restructuring, acquisition and integration-related and other costs | 26.2 | 35.2 | |||||
| Adjusted gross profit | $ | 740.6 | 759.0 | ||||
| Adjusted gross profit as a percent of net sales | 26.4% | 27.1% | |||||
| Reconciliation of Selling, General and Administrative Expenses to Adjusted Selling, General and Administrative Expenses | |||||||
| Three Months Ended | |||||||
| (In millions) | June 28, 2025 | June 29, 2024 | |||||
| Selling, general and administrative expenses | $ | 525.7 | 509.8 | ||||
| Adjustments to selling, general and administrative expenses: | |||||||
| Restructuring, acquisition and integration-related and other costs | (3.2 | ) | (6.2 | ) | |||
| Legal settlements, reserves and fees | (4.9 | ) | (1.3 | ) | |||
| Adjusted selling, general and administrative expenses | $ | 517.6 | 502.3 | ||||
| Adjusted selling, general and administrative expenses as a percent of net sales | 18.5% | 17.9% | |||||
| Reconciliation of Operating Income to Adjusted Operating Income | |||||||
| Three Months Ended | |||||||
| (In millions) | June 28, 2025 | June 29, 2024 | |||||
| Mohawk Consolidated | |||||||
| Operating income | $ | 188.7 | 214.0 | ||||
| Adjustments to operating income: | |||||||
| Restructuring, acquisition and integration-related and other costs | 29.4 | 41.4 | |||||
| Legal settlements, reserves and fees | 4.9 | 1.3 | |||||
| Adjusted operating income | $ | 223.0 | 256.7 | ||||
| Adjusted operating income as a percent of net sales | 8.0% | 9.2% | |||||
| Global Ceramic | |||||||
| Operating income | $ | 88.2 | 83.1 | ||||
| Adjustments to segment operating income: | |||||||
| Restructuring, acquisition and integration-related and other costs | 2.1 | 11.7 | |||||
| Adjusted segment operating income | $ | 90.3 | 94.8 | ||||
| Adjusted segment operating income as a percent of net sales | 8.1% | 8.5% | |||||
| Flooring NA | |||||||
| Operating income | $ | 52.5 | 78.3 | ||||
| Adjustments to segment operating income: | |||||||
| Restructuring, acquisition and integration-related and other costs | 16.7 | — | |||||
| Legal settlements, reserves and fees | — | 3.7 | |||||
| Adjusted segment operating income | $ | 69.2 | 82.0 | ||||
| Adjusted segment operating income as a percent of net sales | 7.3% | 8.6% | |||||
| Flooring ROW | |||||||
| Operating income | $ | 65.8 | 65.6 | ||||
| Adjustments to segment operating income: | |||||||
| Restructuring, acquisition and integration-related and other costs | 10.6 | 25.8 | |||||
| Adjusted segment operating income | $ | 76.4 | 91.4 | ||||
| Adjusted segment operating income as a percent of net sales | 10.4% | 12.6% | |||||
| Corporate and intersegment eliminations | |||||||
| Operating (loss) | $ | (17.8 | ) | (13.0 | ) | ||
| Adjustments to segment operating (loss): | |||||||
| Restructuring, acquisition and integration-related and other costs | — | 0.2 | |||||
| Legal settlements, reserves and fees | 4.9 | 1.3 | |||||
| Adjusted segment operating (loss) | $ | (12.9 | ) | (11.5 | ) | ||
| Reconciliation of Earnings Before Income Taxes to Adjusted Earnings Before Income Taxes | |||||||
| Three Months Ended | |||||||
| (In millions) | June 28, 2025 | June 29, 2024 | |||||
| Earnings before income taxes | $ | 180.5 | 199.8 | ||||
| Net earnings attributable to noncontrolling interests | — | (0.1 | ) | ||||
| Adjustments to earnings including noncontrolling interests before income taxes: | |||||||
| Restructuring, acquisition and integration-related and other costs | 29.4 | 41.4 | |||||
| Legal settlements, reserves and fees | 4.9 | 1.3 | |||||
| Adjustments of indemnification asset | (0.1 | ) | (0.2 | ) | |||
| Adjusted earnings before income taxes | $ | 214.7 | 242.2 | ||||
| Reconciliation of Income Tax Expense to Adjusted Income Tax Expense | |||||||
| Three Months Ended | |||||||
| (In millions) | June 28, 2025 | June 29, 2024 | |||||
| Income tax expense | $ | 34.0 | 42.3 | ||||
| Adjustments to income tax expense: | |||||||
| Income taxes - adjustments of uncertain tax position | (0.1 | ) | (0.2 | ) | |||
| Income tax effect of adjusting items | 7.5 | 8.6 | |||||
| Adjusted income tax expense | $ | 41.4 | 50.7 | ||||
| Adjusted income tax rate to adjusted earnings before income taxes | 19.3% | 20.9% | |||||
公司會增補其簡明綜合財務報表，該報表根據美國公認會計原則 (US GAAP) 編製和呈列，當中包含若干非 GAAP 的財務指標。 根據證券交易委員會規則的要求，上表顯示了公司的非 GAAP 財務指標根據最直接可比較的美國 GAAP 指標調節的結果。 除了可比較的美國 GAAP 指標外，還應考慮上述每項非 GAAP 指標，並且可能無法與其他公司報告的類似名稱的指標進行比較。 公司認為，這些非 GAAP 指標在根據相應的美國 GAAP 指標調節時，可在以下方面幫助其投資者：非 GAAP 收入指標有助於識別增長趨勢，並將收入與過往及未來期間進行比較，非 GAAP 盈利能力指標有助於了解公司業務的長期盈利趨勢，並將其利潤與過往及未來期間進行比較。
公司將若干項目從其非 GAAP 收入指標中剔除，因為這些項目在不同期間可能會有很大差異，並且可能掩蓋潛在的業務趨勢。 從公司非 GAAP 收入指標中剔除的項目包括：外幣交易及折算；在一段時間內較多或較少的運輸日數，以及收購的影響。
公司從其非 GAAP 盈利能力指標中剔除了若干項目，因為這些項目可能不代表公司的核心經營業績，或與其無關。 公司非 GAAP 盈利能力指標中剔除的項目包括：重組、收購和整合相關及其他成本、法律和解、準備金和費用、商譽減值和壽命不確定的無形資產、收購購買會計，包括購買會計存貨增加、補償資產的調整、不確定稅務狀況調整和歐洲稅務重組。
聯絡人：James Brunk，財務總監 - (706) 624-2239
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