Mohawk Industries Reports Q3 Results And Announces $500 Million Stock Repurchase Plan

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Go back to Mohawk Industries Reports Q3 Results And Announces $500 Million Stock Repurchase Plan

Baird Reiterates Overweight on Mohawk Industries (MHK) Following 3Q

October 26, 2018 9:26 AM EDT

Baird analyst, Timothy Wojs, reiterated an Outperform rating and $192.00 price target on Mohawk Industries (NYSE: MHK) following the company's 3Q earnings report. Results and guidance were much worse than expected, pressured by inflation, mix, slower demand, competition, and less pricing contribution, resulting in another... More

Mohawk Industries (MHK) Misses Q3 EPS by 29c, Revenues Miss; Announces New Share Buyback Up to $500M

October 25, 2018 4:25 PM EDT

Mohawk Industries (NYSE: MHK) reported Q3 EPS of $3.29, $0.29 worse than the analyst estimate of $3.58. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.6 billion.

Commenting on Mohawk Industries' third quarter performance, Jeffrey S. Lorberbaum, Chairman and CEO, stated, "Our third quarter results fell short of our expectations. Sales growth in all segments was lower than our estimates, price increases had less impact and we experienced more inflation than predicted. Transportation costs continued to rise due to the limited availability of common carriers and higher fuel prices. Additional manufacturing... More