Mohawk beats fourth-quarter estimates on steady demand for flooring
Feb 6 (Reuters) - Home flooring manufacturer Mohawk Industries MHK.N topped analysts' estimates for fourth-quarter revenue and profit on Thursday, helped by resilient demand for remodeling and new commercial projects.
Mohawk's commercial business continues to outperform its residential business, with strength in hospitality, government, and education channels.
The rate cuts by the U.S. Federal Reserve are also expected to ease borrowing costs, which in turn can aid demand for home remodeling and residential construction.
The company's overall revenue came in at $2.64 billion for the quarter ended December 31, compared with analysts' average estimate of $2.54 billion, according to data compiled by LSEG.
On an adjusted basis, Mohawk earned $1.95 per share, compared with the estimates of $1.85 per share.
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