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Here's What Key Metrics Tell Us About Mohawk Industries (MHK) Q2 Earnings
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For the quarter ended June 2023, Mohawk Industries (MHK - Free Report) reported revenue of $2.95 billion, down 6.4% over the same period last year. EPS came in at $2.76, compared to $4.41 in the year-ago quarter.
The reported revenue represents a surprise of +0.56% over the Zacks Consensus Estimate of $2.93 billion. With the consensus EPS estimate being $2.64, the EPS surprise was +4.55%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $1.16 billion compared to the $1.14 billion average estimate based on five analysts. The reported number represents a change of -0.3% year over year.
Net sales- Flooring ROW: $793.37 million compared to the $803.05 million average estimate based on five analysts. The reported number represents a change of -11.4% year over year.
Net sales- Flooring NA: $1 billion versus the five-analyst average estimate of $1 billion. The reported number represents a year-over-year change of -8.9%.
Adjusted Operating Income- Global Ceramic: $99.12 million compared to the $121.86 million average estimate based on five analysts.
Adjusted Operating Income- Flooring ROW: $96.28 million compared to the $89.08 million average estimate based on five analysts.
Adjusted Operating Income- Flooring NA: $60.56 million versus the five-analyst average estimate of $34.81 million.
Shares of Mohawk Industries have returned +13.8% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Mohawk Industries (MHK) Q2 Earnings
For the quarter ended June 2023, Mohawk Industries (MHK - Free Report) reported revenue of $2.95 billion, down 6.4% over the same period last year. EPS came in at $2.76, compared to $4.41 in the year-ago quarter.
The reported revenue represents a surprise of +0.56% over the Zacks Consensus Estimate of $2.93 billion. With the consensus EPS estimate being $2.64, the EPS surprise was +4.55%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $1.16 billion compared to the $1.14 billion average estimate based on five analysts. The reported number represents a change of -0.3% year over year.
- Net sales- Flooring ROW: $793.37 million compared to the $803.05 million average estimate based on five analysts. The reported number represents a change of -11.4% year over year.
- Net sales- Flooring NA: $1 billion versus the five-analyst average estimate of $1 billion. The reported number represents a year-over-year change of -8.9%.
- Adjusted Operating Income- Global Ceramic: $99.12 million compared to the $121.86 million average estimate based on five analysts.
- Adjusted Operating Income- Flooring ROW: $96.28 million compared to the $89.08 million average estimate based on five analysts.
- Adjusted Operating Income- Flooring NA: $60.56 million versus the five-analyst average estimate of $34.81 million.
View all Key Company Metrics for Mohawk Industries here>>>Shares of Mohawk Industries have returned +13.8% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.