BUZZ-Mohawk Industries down on dour Q4 results forecast

Reuters
2024-10-26

(Updates)

** Shares of home flooring maker Mohawk Industries down nearly 13.1% at $131.95

** Co expects recent U.S. hurricanes to negatively impact Q4 sales by $25 to $40 mln, offsetting benefits from rebuilding next year

** Sees adjusted Q4 EPS to be between $1.77 and $1.87, compared with analysts' estimates of $2.24, according to data compiled by LSEG

** MHK's Q3 revenue falls 1.7% to $2.72 bln, hurt by weak demand for its flooring and ceramic products

** Seven of 18 brokerages rate the stock "buy" or higher and 11 "hold"; their median PT is $172 - LSEG data

** Up to last close, stock up 27.5% YTD

(Reporting by Anshuman Tripathy in Bengaluru)

((Anshuman.Tripathy@thomsonreuters.com;))

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