Mohawk Industries (MHK) Reports Q1 Earnings: What Key Metrics Have to Say

Mohawk Industries (MHK) reported $2.68 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.5%. EPS of $1.86 for the same period compares to $1.75 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.67 billion, representing a surprise of +0.37%. The company delivered an EPS surprise of +9.41%, with the consensus EPS estimate being $1.70.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Mohawk Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net sales- Global Ceramic: $1.04 billion versus $1.03 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.4% change.

• Net sales- Flooring ROW: $734.40 million versus the four-analyst average estimate of $732.44 million. The reported number represents a year-over-year change of -7.4%.

• Net sales- Flooring NA: $900.20 million versus $901.99 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.6% change.

• Adjusted Operating Income- Global Ceramic: $52.70 million versus $47.27 million estimated by four analysts on average.

• Adjusted Operating Income- Flooring NA: $47.80 million compared to the $34.76 million average estimate based on four analysts.

• Adjusted Operating Income- Flooring ROW: $74 million versus the four-analyst average estimate of $83.45 million.

• Adjusted Operating Income- Corporate and intersegment eliminations: -$11.20 million compared to the -$9.74 million average estimate based on three analysts.

View all Key Company Metrics for Mohawk Industries here>>>

Shares of Mohawk Industries have returned -13.6% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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