Mohawk Industries Q4 Profit Tops Estimate

(RTTNews) - Mohawk Industries, Inc. (MHK) reported fourth quarter net earnings of $147 million or $2.00 per share, compared to $95 million or $1.29 per share for the year-ago quarter.

Excluding items, adjusted net earnings for the fourth quarter were $167 million or $2.27 per share, compared to $131 million or $1.79 per share in the prior year quarter.

Net sales for the fourth quarter grew 1.4% to $1.95 billion from $1.92 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $2.21 per share on revenue of $1.94 billion for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts first quarter adjusted earnings of $1.54 to $1.63 per share. Analysts currently expect the company to earn $1.56 per share for the first quarter.