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Mohawk Industries: 3Q Earnings Snapshot

·1 min read

CALHOUN, Ga. (AP) _ Mohawk Industries Inc. (MHK) on Thursday reported third-quarter net income of $205.1 million.

On a per-share basis, the Calhoun, Georgia-based company said it had net income of $2.87. Earnings, adjusted for one-time gains and costs, came to $3.26 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.

The flooring maker posted revenue of $2.57 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $2.5 billion.

Mohawk Industries shares have decreased 32% since the beginning of the year, while the Standard & Poor's 500 index has increased 2.5%. In the final minutes of trading on Thursday, shares hit $93.05, a decrease of 36% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MHK at https://www.zacks.com/ap/MHK