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Mohawk Industries: 4Q Earnings Snapshot

CALHOUN, Ga. (AP) _ Mohawk Industries Inc. (MHK) on Thursday reported fourth-quarter net income of $264.7 million.

On a per-share basis, the Calhoun, Georgia-based company said it had net income of $3.68. Earnings, adjusted for one-time gains and costs, were $2.25 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.

The flooring maker posted revenue of $2.42 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $2.41 billion.

For the year, the company reported profit of $744.2 million, or $10.30 per share. Revenue was reported as $9.97 billion.

For the current quarter ending in April, Mohawk Industries expects its per-share earnings to range from $1.90 to $2. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.03.

Mohawk Industries shares have dropped almost 3% since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 4%. In the final minutes of trading on Thursday, shares hit $132.49, a fall of 5% 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