Mohawk Industries: 4Q Earnings Snapshot
CALHOUN, Ga. (AP) _ Mohawk Industries Inc. (MHK) on Thursday reported fourth-quarter net income of $229.3 million.
The Calhoun, Georgia-based company said it had net income of $3.05 per share. Earnings, adjusted for one-time gains and costs, were $2.53 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.
The flooring maker posted revenue of $2.45 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.44 billion.
For the year, the company reported profit of $861.7 million, or $11.47 per share. Revenue was reported as $9.98 billion.
Mohawk Industries shares have risen almost 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 8 percent. In the final minutes of trading on Thursday, shares hit $128.20, a drop of 52 percent in the last 12 months.