We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mohawk Industries (MHK) Reports Q1 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
Mohawk Industries (MHK - Free Report) reported $2.68 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.5%. EPS of $1.86 for the same period compares to $1.75 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.67 billion, representing a surprise of +0.37%. The company delivered an EPS surprise of +9.41%, with the consensus EPS estimate being $1.70.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $1.04 billion versus $1.03 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.4% change.
Net sales- Flooring ROW: $734.40 million versus the four-analyst average estimate of $732.44 million. The reported number represents a year-over-year change of -7.4%.
Net sales- Flooring NA: $900.20 million versus $901.99 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.6% change.
Adjusted Operating Income- Global Ceramic: $52.70 million versus $47.27 million estimated by four analysts on average.
Adjusted Operating Income- Flooring NA: $47.80 million compared to the $34.76 million average estimate based on four analysts.
Adjusted Operating Income- Flooring ROW: $74 million versus the four-analyst average estimate of $83.45 million.
Adjusted Operating Income- Corporate and intersegment eliminations: -$11.20 million compared to the -$9.74 million average estimate based on three analysts.
Shares of Mohawk Industries have returned -13.6% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Mohawk Industries (MHK) Reports Q1 Earnings: What Key Metrics Have to Say
Mohawk Industries (MHK - Free Report) reported $2.68 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.5%. EPS of $1.86 for the same period compares to $1.75 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.67 billion, representing a surprise of +0.37%. The company delivered an EPS surprise of +9.41%, with the consensus EPS estimate being $1.70.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $1.04 billion versus $1.03 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.4% change.
- Net sales- Flooring ROW: $734.40 million versus the four-analyst average estimate of $732.44 million. The reported number represents a year-over-year change of -7.4%.
- Net sales- Flooring NA: $900.20 million versus $901.99 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.6% change.
- Adjusted Operating Income- Global Ceramic: $52.70 million versus $47.27 million estimated by four analysts on average.
- Adjusted Operating Income- Flooring NA: $47.80 million compared to the $34.76 million average estimate based on four analysts.
- Adjusted Operating Income- Flooring ROW: $74 million versus the four-analyst average estimate of $83.45 million.
- Adjusted Operating Income- Corporate and intersegment eliminations: -$11.20 million compared to the -$9.74 million average estimate based on three analysts.
View all Key Company Metrics for Mohawk Industries here>>>Shares of Mohawk Industries have returned -13.6% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.