Mohawk Q2 Profit Tops Estimate; Sees Q3 Earnings Above Consensus

(RTTNews) - Mohawk Industries, Inc. (MHK) reported second quarter net earnings of $186 million or $2.53 per share, compared to $153 million or $2.08 per share for the year-ago quarter.

Excluding unusual charges, adjusted net earnings for the second quarter were $199 million $2.69 per share, compared to $162 million or $2.21 per share in the prior year quarter.

Net sales for the second quarter were $2.04 billion, compared to $2.05 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $2.62 per share on revenue of $2.13 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts third quarter adjusted earnings of $2.91 to $2.99 per share. Analysts currently expect the company to earn $2.81 per share for the third quarter.