Mohawk Industries 2Q profit rises 81 percent, beats forecast

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 ( ) using data from Zacks Investment Research. Full MHK report:


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