Mohawk Industries, Inc. Second Quarter Earnings Sneak Peek

Mohawk Industries, Inc. (NASDAQ:MHK) will unveil its latest earnings on Thursday, August 4, 2011. Mohawk Industries, Inc. is a producer of floor covering products for residential and commercial applications in the United States and residential applications in Europe.

Mohawk Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 93 cents per share, a rise of 20.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 88 cents. Between one and three months ago, the average estimate moved up, but has dropped from 94 cents during the last month. For the year, analysts are projecting net income of $3.20 per share, a rise of 29% from last year.

Past Earnings Performance: The company fell in line with estimates last quarter after topping forecasts the quarter before. After coming in above the mean estimate by 9 cents in the fourth quarter of the last fiscal year, the company fell in line with expecations by reporting profit of 42 cents per share last quarter.

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Wall St. Revenue Expectations: On average, analysts predict $1.45 billion in revenue this quarter, a rise of 3.6% from the year ago quarter. Analysts are forecasting total revenue of $5.58 billion for the year, a rise of 4.9% from last year’s revenue of $5.32 billion.

Analyst Ratings: Analysts seem relatively indifferent about Mohawk Industries with seven of 13 analysts surveyed maintaining a hold rating.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 14.1% while it rose more than twofold in the fourth quarter of the last fiscal year and 48.8% in the third quarter of the last fiscal year.

Revenue has fallen in the past four quarters. Revenue declined 0.3% to $1.34 billion in first quarter. The figure fell 6.3% in the fourth quarter of the last fiscal year from the year earlier, dropped 5.3% in third quarter of the last fiscal year from the year-ago quarter and 0.4% in the second quarter of the last fiscal year.

Competitors to Watch: Interface, Inc. (NASDAQ:IFSIA), The Dixie Group, Inc. (NASDAQ:DXYN).

Stock Price Performance: During June 2, 2011 to July 29, 2011, the stock price had fallen $12.59 (-19.5%) from $64.62 to $52.03. The stock price saw one of its best stretches over the last year between December 8, 2010 and December 16, 2010 when shares rose for seven-straight days, rising 6.5% (+$3.69) over that span. It saw one of its worst periods between July 19, 2011 and July 28, 2011 when shares fell for eight-straight days, falling 10.3% (-$5.89) over that span. Shares are down $4.73 (-8.3%) year to date.

(Source: Xignite Financials)

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