Mohawk Industries Inc Q1 Profit Increases, beats estimates

(RTTNews) - Mohawk Industries Inc (MHK) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $245.33 million, or $3.78 per share. This compares with $236.81 million, or $3.36 per share, in last year's first quarter.

Excluding items, Mohawk Industries Inc reported adjusted earnings of $245.56 million or $3.78 per share for the period.

Analysts on average had expected the company to earn $2.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.1% to $3.02 billion from $2.67 billion last year.

Mohawk Industries Inc earnings at a glance (GAAP) :

-Earnings (Q1): $245.33 Mln. vs. $236.81 Mln. last year. -EPS (Q1): $3.78 vs. $3.36 last year. -Analyst Estimate: $2.90 -Revenue (Q1): $3.02 Bln vs. $2.67 Bln last year.