Mohawk Industries (MHK) Tops Q1 EPS by 10c

Mohawk Industries (NYSE: MHK) reported Q1 EPS of $1.70, $0.10 better than the analyst estimate of $1.60. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.88 billion.

Commenting on Mohawk Industries' first quarter performance, Jeffrey S. Lorberbaum, Chairman and CEO, stated, "For the period, our adjusted operating margin was approximately 10%, an increase of 170 basis points compared to the prior year, as a result of new products, higher volume, and numerous productivity initiatives. We improved SG&A as a percent of sales by 90 basis points across the business, even as we expanded our sales organization, introduced leading product innovation and implemented merchandising systems that showcase our product value. Throughout the business, we are introducing new products across all categories that are being well received in their markets, generating sales growth and increasing margins."

For earnings history and earnings-related data on Mohawk Industries (MHK) click here.

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