Flooring manufacturer Mohawk Industries (NYSE:MHK) will be reporting earnings this Thursday after the bell. Here's what to look for.
Mohawk Industries missed analysts' revenue expectations last quarter, reporting revenues of $2.73 billion, up 8% year on year. It was a mixed quarter for the company, with a beat of analysts' EPS 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 be flat year on year, in line with its flat revenue from the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q2 results, giving us a hint as to what we can expect. AMC Entertainment delivered year-on-year revenue growth of 14.2%, beating analysts' expectations by 8.7%, and Delta reported revenues up 18.7%, topping estimates by 3.9%. AMC Entertainment traded up 13.4% following the results while Delta was down 3.2%.
Read our full analysis of AMC Entertainment's results here and Delta's results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Mohawk Industries is down 1.5% during the same time and is heading into earnings with an average analyst price target of $122.71 (compared to the current share price of $116.99).
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