Flooring manufacturer Mohawk Industries (NYSE: MHK) will be reporting results this Thursday after market close. Here’s what to look for.
Mohawk Industries beat analysts’ revenue expectations last quarter, reporting revenues of $2.7 billion, up 2.4% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but EPS guidance for next quarter missing analysts’ expectations.
Is Mohawk Industries a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Mohawk Industries’s revenue to grow 8.6% year on year, a reversal from the 5.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally 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 multiple times over the last two years.
Looking at Mohawk Industries’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Purple’s revenues decreased 8.1% year on year, missing analysts’ expectations by 5.9%, and Monarch reported revenues up 8.9%, topping estimates by 5.2%. Monarch traded up 15.9% following the results.
Read our full analysis of Purple’s results here and Monarch’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.5% on average over the last month. Mohawk Industries is up 11.5% during the same time and is heading into earnings with an average analyst price target of $126.53 (compared to the current share price of $106.30).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
