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Mohawk Industries declines to 2-week low after warning on profits

Jan. 17, 2023 11:08 AM ETMohawk Industries, Inc. (MHK)By: Rob Williams NY, SA News Editor

Saleswoman showing the wall tiles to the young man

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Mohawk Industries (NYSE:MHK) declined Tuesday to a two-week low after warning that earnings would be lower than previously estimated because of declining demand for flooring products.

Mohawk said it expects Q4 adjusted earnings will be in the range of $1.27 to $1.31 a share, less than its previous guidance of $1.40 to $1.50 a share. 

Its stock declined 6% to $111.36 a share, the lowest in two weeks, by 11:03 a.m. ET.

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