Mohawk Industries Inc Q1 Profit Increases, beats estimates

(RTTNews) - Mohawk Industries Inc (MHK) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $105.0 million, or $1.64 per share. This compares with $80.2 million, or $1.26 per share, in last year's first quarter.

Excluding items, Mohawk Industries Inc reported adjusted earnings of $118.8 million or $1.86 per share for the period.

Analysts on average had expected the company to earn $1.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.6% to $2.68 billion from $2.81 billion last year.

Mohawk Industries Inc earnings at a glance (GAAP) :

-Earnings (Q1): $105.0 Mln. vs. $80.2 Mln. last year. -EPS (Q1): $1.64 vs. $1.26 last year. -Revenue (Q1): $2.68 Bln vs. $2.81 Bln last year.