Mohawk Industries (MHK) Tops Q1 Earnings Estimates

Core Viewpoint - Mohawk Industries reported quarterly earnings of $1.52 per share, exceeding the Zacks Consensus Estimate of$ 1.41 per share, but down from $1.86 per share a year ago, indicating a 7.80% earnings surprise [1][2] Financial Performance - The company posted revenues of$ 2.53 billion for the quarter, missing the Zacks Consensus Estimate by 1.84% and down from $2.68 billion year-over-year [2] - Over the last four quarters, Mohawk Industries has surpassed consensus EPS estimates four times and topped revenue estimates twice [2] Stock Performance - Mohawk Industries shares have declined approximately 10.7% since the beginning of the year, compared to a 5.3% decline in the S&P 500 [3] - The current Zacks Rank for Mohawk Industries is 4 (Sell), indicating expected underperformance in the near future [6] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is$ 2.83 on revenues of $2.78 billion, and for the current fiscal year, it is$ 9.45 on revenues of $10.8 billion [7] - The trend of estimate revisions for Mohawk Industries has been unfavorable leading up to the earnings release [6] Industry Context - The Textile - Home Furnishing industry, to which Mohawk Industries belongs, is currently ranked in the top 11% of over 250 Zacks industries, suggesting a favorable industry outlook [8]