Flooring maker Mohawk's Q2 revenue beats estimates
Flooring maker Mohawk's Q2 revenue beats estimates
Overview
U.S. flooring maker's Q2 revenue rose 6.8%, beating analyst expectations
Adjusted EPS for Q2 beat consensus, helped by tariff refunds and improved mix
Company repurchased over 600,000 shares for about $60 mln in Q2
Outlook
Mohawk expects Q3 adjusted EPS of $2.50-$2.60, including about $0.12 from tariff refunds
Company sees Q3 baseline EPS, excluding tariff refunds and one-time charges, at $2.38-$2.48
Mohawk anticipates flooring market conditions to remain challenging in Q3
Result Drivers
VOLUME AND MIX - Co said results benefited from volume growth, pricing actions and improved product mix
TARIFF REFUNDS - Adjusted EPS included benefit from tariff refunds not in prior guidance
PRODUCTIVITY GAINS - Productivity improvements and prior restructuring projects contributed to margins
Company press release: ID:nGNE26nfWw
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $3 bln | $2.79 bln (16 Analysts) |
Q2 Adjusted EPS | Beat | $3.67 | $2.58 (16 Analysts) |
Q2 EPS |
| $3.22 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 12 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the home furnishings peer group is "buy."
Wall Street's median 12-month price target for Mohawk Industries Inc is $118.00, about 4.1% above its July 29 closing price of $113.38
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)