Mohawk Industries down on dour Q4 results forecast
25/10/2024 17:45
(Updates)
** Shares of home flooring maker Mohawk Industries MHK.N
down nearly 13.1% at $131.95
** Co expects recent U.S. hurricanes to negatively
impact Q4 sales by $25 to $40 mln, offsetting benefits from
rebuilding next year
** Sees adjusted Q4 EPS to be between $1.77 and $1.87,
compared with analysts' estimates of $2.24, according to data
compiled by LSEG
** MHK's Q3 revenue falls 1.7% to $2.72 bln, hurt by weak
demand for its flooring and ceramic products
** Seven of 18 brokerages rate the stock "buy" or higher and
11 "hold"; their median PT is $172 - LSEG data
** Up to last close, stock up 27.5% YTD
(Reporting by Anshuman Tripathy in Bengaluru)
((Anshuman.Tripathy@thomsonreuters.com;))