Margin-Related Woes To Hurt Mohawk (MHK) In Q3 Earnings
Zacks Investment Research | Oct 20, 2019 10:26PM ET
Mohawk Industries, Inc. (NYSE:MHK) is slated to report third-quarter 2019 results on Oct 24, after market close.
In the last reported quarter, the company’s adjusted earnings topped the Zacks Consensus Estimate by 0.7% but net sales missed the same by 2.1%. However, on a year-over-year basis, its top line grew 0.3% while bottom line dipped nearly 18% due to softness across the markets served, and pressure on volumes and pricing.
These headwinds are likely to have impacted its performance in the to-be-reported quarter as well.
Which Way are Top and Bottom-Line Estimates Headed?
The Zacks Consensus Estimate for Mohawk’s third-quarter earnings is pegged at $2.65 per share, indicating a 19.5% decline from the prior-year reported figure of $3.29. The consensus estimate for net sales is pegged at $2.5 billion, suggesting a 1.6% decrease from the year-ago reported figure.
Mohawk Industries, Inc. Price and EPS Surprise
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.