Mohawk's Stock Unravels Following Third Consecutive Quarter of Underperformance; FVE to $169
Shares of Mohawk Industries closed the Oct. 26 trading down 24% after the no-moat-rated flooring manufacturer reported abysmal third-quarter results. It's been a tough year for Mohawk. The company has grappled with less-than-stellar top line growth and mounting input cost pressure. Mohawk had been a Wall Street darling with an impressive track record of beating earnings estimates. Based on Capital IQ data, between first-quarter 2012 and first-quarter 2018, Mohawk beat the consensus EPS estimate ...Mohawk Industries is a global flooring manufacturer for residential and commercial spaces around the world. The company has three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic, porcelain and natural stone tile products used for floor and wall applications; Flooring North America, which designs, manufactures, sources and distributes broadloom carpet, carpet tile, rugs and mats, carpet pad, laminate, medium-density fiberboard, luxury vinyl tile (LVT) and sheet vinyl; and Flooring Rest of the World, which designs, manufactures, sources and distributes laminate, LVT and sheet vinyl, wood flooring, broadloom carpet and carpet tile collections.
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