Mohawk Industries Q1 Profit Tops Estimate; Guides Q2 EPS Below Consensus

(RTTNews) - Mohawk Industries, Inc. (MHK) reported first quarter net earnings of $22 million or $0.30 per share, compared to 81 million or $1.11 per share for the year-ago quarter.

Excluding items, adjusted net earnings for the first quarter were $125 million or $1.70 per share, compared to $90 million $1.23 per share in the prior year quarter.

Net sales for the first quarter rose 4% to $1.88 billion from $1.8 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.60 per share on revenue of $1.88 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts second quarter adjusted earnings is $2.51 to $2.60 per share. Analysts currently expect the company to earn $2.61 per share for the second quarter.