Why Mohawk Industries Shares Are Up Today
Shares of Mohawk Industries (NYSE: MHK) were up 12% on Friday afternoon following the flooring specialist's release of third-quarter results. In July, Mohawk had warned to expect a "difficult" business environment in the second half of 2019, but the third quarter came in a little better than Wall Street's expectations.
After markets closed Thursday, Mohawk reported third-quarter earnings of $2.75 per share on revenue of $2.5 billion, beating the analyst consensus earnings estimate by $0.12 per share on revenue that matched estimates. Mohawk recorded net earnings of $155.5 million in the quarter, down more than 30% from the $227 million earnings figure posted in the third quarter of 2018.
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Source Fool.com
