Ceramic Industry News

Mohawk Industries Revises Earnings Guidance (posted 7/10/08)

July 10, 2008
/ Print / Reprints /
ShareMore
/ Text Size+
The downward revision is attributable to all segments having lower-than-anticipated sales and margins for the period.

Mohawk Industries, Inc. now estimates its second quarter 2008 guidance for earnings per diluted share to be in the range of $1.23 to $1.26, down slightly from the previously issued second quarter guidance of $1.36 to $1.45 EPS. This revision is attributable to all segments having lower-than-anticipated sales and margins for the period. The lower earnings expectation for the quarter is primarily due to the continuing decline in the U.S. residential market, slowing European demand, and rapidly increasing raw material and energy costs.

Mohawk is implementing multiple price increases to offset the rising costs and is continuing its emphasis on containing costs across the company. During the quarter, Mohawk paid down approximately $180 million of debt.

The company’s second quarter 2008 earnings release is scheduled for July 21, 2008, with the conference call scheduled for 11:00 a.m. Eastern time July 22. Mohawk will issue guidance for the third quarter of 2008 in that release. Interested parties can access the conference call by dialing (800) 603-9255 or (706) 634-2294 and using conference ID# 54459485. A conference call replay will also be available until July 28, 2008, by dialing (800) 642-1687 or (706) 645-9291 and entering conference ID# 54459485. The webcast can be accessed (live or replay) from the Investor Relations section of Mohawk Industries’ website at www.mohawkind.com.

Links

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI October 2014 cover

2014 October

Materials advances, refractories and renewable energy - oh, my! Check out our October issue today!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px