Mohawk Industries Inc Q1 adjusted earnings Beat Estimates

(RTTNews) - Mohawk Industries Inc (MHK) released earnings for first quarter that dropped from the same period last year.

The company's profit totaled $121.59 million, or $1.67 per share. This compares with $208.77 million, or $2.78 per share, in last year's first quarter.

Excluding items, Mohawk Industries Inc reported adjusted earnings of $154.48 million or $2.13 per share for the period.

Analysts had expected the company to earn $2.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.2% to $2.44 billion from $2.41 billion last year.

Mohawk Industries Inc earnings at a glance:

-Earnings (Q1): $154.48 Mln. vs. $225.28 Mln. last year. -EPS (Q1): $2.13 vs. $3.01 last year. -Analysts Estimate: $2.08 -Revenue (Q1): $2.44 Bln vs. $2.41 Bln last year.