Mohawk Industries Inc Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Mohawk Industries Inc (MHK) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $72.6 million, or $1.15 per share. This compares with $105.0 million, or $1.64 per share, last year.

Excluding items, Mohawk Industries Inc reported adjusted earnings of $95.6 million or $1.52 per share for the period.

Analysts on average had expected the company to earn $1.41 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 5.7% to $2.525 billion from $2.679 billion last year.

Mohawk Industries Inc earnings at a glance (GAAP) :

-Earnings: $72.6 Mln. vs. $105.0 Mln. last year. -EPS: $1.15 vs. $1.64 last year. -Revenue: $2.525 Bln vs. $2.679 Bln last year.