Mohawk Industries (MHK) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Mohawk Industries (MHK) reported $2.77 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 5.2%. EPS of $2.72 for the same period compares to $3.34 a year ago.
The reported revenue represents a surprise of +1.20% over the Zacks Consensus Estimate of $2.73 billion. With the consensus EPS estimate being $2.65, the EPS surprise was +2.64%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Mohawk Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- Global Ceramic: $1.09 billion versus the five-analyst average estimate of $1.08 billion. The reported number represents a year-over-year change of -0.5%.
Net sales- Flooring ROW: $712.29 million versus the five-analyst average estimate of $710.06 million. The reported number represents a year-over-year change of -2.6%.
Net sales- Flooring NA: $962.22 million versus $942.98 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -11.7% change.
Adjusted Operating Income- Global Ceramic: $87.59 million versus the five-analyst average estimate of $95.37 million.
Adjusted Operating Income- Flooring NA: $77.66 million versus $74.38 million estimated by five analysts on average.
Adjusted Operating Income- Flooring ROW: $77.33 million versus the five-analyst average estimate of $75.06 million.
Adjusted Operating Income- Corporate and intersegment eliminations: -$9.77 million compared to the -$12.43 million average estimate based on three analysts.
View all Key Company Metrics for Mohawk Industries here>>>
Shares of Mohawk Industries have returned -6.8% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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