Mohawk Industries Inc. (MHK) reported first quarter adjusted net income of $0.58 per share after the close Thursday, up from $0.42 per share in the prior year period. The consensus estimate was for EPS of $0.55. Second quarter adjusted EPS is expected to be between $1.07 and $1.16, compared to the consensus estimate of $1.08.
Mohawk Industries gapped up sharply Friday, but was range-bound for the majority of the session. Shares closed higher by 5.02 at $73.52, with volume at a 9-month high. The stock has been rising for the past week and a half and set a new high for the year.
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