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CALHOUN, Ga., June 28, 2024 (GLOBE NEWSWIRE) -- In conjunction with Mohawk Industries, Inc. (NYSE: MHK) Second Quarter 2024 earnings release on Thursday, July 25, 2024, you are invited to listen to the conference call that will be broadcast live on Friday, July 26, 2024, at 11:00 am ET.
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I upgraded my recommendation on Mohawk Industries to buy due to a clearer picture of recovery. Recent earnings showed improvement in sales decline and volume growth, with cost-cutting efforts leading to margin expansion. As Mohawk delivers growth, the market is likely to adjust its valuation upwards.
Mohawk Industries, Inc. (NYSE:MHK ) Q1 2024 Earnings Conference Call April 26, 2024 11:00 AM ET Company Participants James Brunk - Chief Financial Officer Jeff Lorberbaum - Chairman and Chief Executive Officer Chris Wellborn - President and Chief Operating Officer Conference Call Participants Matthew Bouley - Barclays Tim Wojs - Baird Susan Maklari - Goldman Sachs John Lovallo - UBS Collin Verron - Jefferies Keith Hughes - Truist Michael Rehaut - JPMorgan Mike Dahl - RBC Kathryn Thompson - Thompson Research Group Laura Champine - Loop Capital Stephen Kim - Evercore Sam Reid - Wells Fargo Eric Bosshard - Cleveland Research Operator Good morning, everyone and welcome to the Mohawk Industries First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please also note this event is being recorded.
Mohawk's (MHK) first-quarter results reflect lower net sales due to continued economic headwinds. Yet, the second-quarter estimate remains strong on improving residential market.
Although the revenue and EPS for Mohawk Industries (MHK) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Mohawk Industries (MHK) came out with quarterly earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.70 per share. This compares to earnings of $1.75 per share a year ago.