Mohawk Industries (MHK) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Viewpoint - Mohawk Industries reported a slight decline in revenue for Q3 2024, with a year-over-year decrease of 1.7%, while EPS showed a modest increase compared to the previous year [1] Financial Performance - Revenue for the quarter ended September 2024 was $2.72 billion, exceeding the Zacks Consensus Estimate of $2.71 billion by 0.49% [1] - EPS for the quarter was $2.90, compared to $2.72 a year ago, resulting in a surprise of 0.35% over the consensus estimate of $2.89 [1] Segment Performance - Global Ceramic net sales were $1.06 billion, below the average estimate of $1.08 billion, reflecting a year-over-year decline of 3.1% [1] - Flooring ROW net sales reached $687 million, slightly below the average estimate of $688.10 million, marking a year-over-year decrease of 3.6% [1] - Flooring NA net sales were $974 million, surpassing the estimated $941.94 million, with a year-over-year increase of 1.2% [1] Adjusted Operating Income - Adjusted Operating Income for Global Ceramic was $90.80 million, exceeding the average estimate of $89.50 million [1] - Adjusted Operating Income for Flooring NA was $88.90 million, above the average estimate of $83.19 million [1] - Adjusted Operating Income for Flooring ROW was $71.80 million, below the average estimate of $79.01 million [1] - Corporate and intersegment eliminations reported an adjusted operating income of -$11.20 million, compared to the average estimate of -$11.68 million [1] Stock Performance - Over the past month, shares of Mohawk Industries have returned -1.7%, while the Zacks S&P 500 composite has changed by +1.5% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]