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Mohawk Industries: 3Q Earnings Snapshot

CALHOUN, Ga. (AP) _ Mohawk Industries Inc. (MHK) on Thursday reported third-quarter net income of $155.5 million.

The Calhoun, Georgia-based company said it had net income of $2.15 per share. Earnings, adjusted for one-time gains and costs, came to $2.75 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.

The flooring maker posted revenue of $2.52 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.5 billion.

For the current quarter ending in December, Mohawk Industries expects its per-share earnings to range from $2.13 to $2.23. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.25.

Mohawk Industries shares have climbed 11% since the beginning of the year, while the Standard & Poor's 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $130.04, a decline of 12% in the last 12 months.


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