CALHOUN, Ga. – Mohawk Industries Inc. (MHK) on Thursday reported earnings that nearly doubled in its second quarter, and topped analysts' expectations.
The Calhoun, Georgia-based company said profit increased to $152.8 million, or $2.08 per share, from $84.6 million, or $1.16 per share, in the same quarter a year ago.
Earnings, adjusted for one-time gains and costs, came to $2.21 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $2.20.
The company said revenue rose 3.6 percent to $2.05 billion from $1.98 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $2.08 billion, according to Zacks.
Mohawk Industries shares have declined $24.13, or 16 percent, to $124.77 since the beginning of the year, while the Standard & Poor's 500 index has risen 4.5 percent. However, the stock has climbed $3.48, or 2.9 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Full MHK report: http://www.zacks.com/ap/MHK
Keywords:Mohawk Industries,Earnings Report