Yahoo Finance Mohawk Industries (MHK) Reports Earnings Tomorrow: What To Expect
Flooring manufacturer Mohawk Industries (NYSE:MHK) will be announcing earnings results tomorrow afternoon. Here's what to look for.
Mohawk Industries beat analysts' revenue expectations by 1.4% last quarter, reporting revenues of $2.68 billion, down 4.5% year on year. It was a solid quarter for the company, with a decent beat of analysts' organic revenue and earnings estimates.
Is Mohawk Industries a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Mohawk Industries's revenue to decline 3.8% year on year to $2.84 billion, improving from the 6.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.75 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mohawk Industries has missed Wall Street's revenue estimates twice over the last two years.
Looking at Mohawk Industries's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 17.7%, beating analysts' expectations by 1.9%, and Levi's reported revenues up 7.8%, in line with consensus estimates. Carnival traded up 12% following the results while Levi's was down 15.7%.
Read our full analysis of Carnival's results here and Levi's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 9.8% on average over the last month. Mohawk Industries is up 20.4% during the same time and is heading into earnings with an average analyst price target of $127.4 (compared to the current share price of $128.06).
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