Mohawk stock rises 6% on company's Q4 beat
Shares of Mohawk Industries Inc. rose more than 6% in the extended session Thursday after the flooring company reported fourth-quarter earnings that topped Wall Street views. Mohawk said it earned $229 million, or $3.05 a share, in the quarter, compared with $240 million, or $3.21 a share, in the year-ago period. Adjusted for one-time items, Mohawk earned $188 million, or $2.53 a share, compared with $256 million, or $3.42 a share, a year ago. Sales rose 3% to $2.45 billion. Analysts polled by FactSet had expected Mohawk to report an adjusted profit of $2.50 a share on sales of $2.44 billion. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.