Mohawk Industries Inc Q2 Profit Decreases, but beats estimates

(RTTNews) - Mohawk Industries Inc (MHK) announced a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $101.2 million, or $1.58 per share. This compares with $280.4 million, or $4.40 per share, in last year's second quarter.

Excluding items, Mohawk Industries Inc reported adjusted earnings of $176.1 million or $2.76 per share for the period.

Analysts on average had expected the company to earn $2.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.3% to $2.95 billion from $3.15 billion last year.

Mohawk Industries Inc earnings at a glance (GAAP) :

-Earnings (Q2): $101.2 Mln. vs. $280.4 Mln. last year. -EPS (Q2): $1.58 vs. $4.40 last year. -Analyst Estimates: $2.65 -Revenue (Q2): $2.95 Bln vs. $3.15 Bln last year.