Reports Q3 revenue $2.72B, consensus $2.7B. Commenting on the company’s third quarter results, Chairman and CEO Jeff Lorberbaum stated, “We delivered a solid performance in soft market conditions, which reflects the positive impact of our sales initiatives, productivity and restructuring actions as well as lower input costs, partially offset by pricing and mix pressure. Due to our increased earnings and management of working capital, we generated free cash flow of $204M in the quarter, for a total of $443M year to date. This year, we are investing approximately $450M in capital projects focused on growth, reducing costs and asset maintenance.”
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MHK:
- MHK Upcoming Earnings Report: What to Expect?
- Mohawk Industries upgraded to Outperform from Neutral at Baird
- Mohawk Industries price target raised to $160 from $150 at Jefferies
- Mohawk Industries upgraded to Equal Weight from Underweight at Wells Fargo
- Mohawk Industries participates in a conference call with JPMorgan