RTTNews | Feb 12, 2021 10:04AM EST

10:04 Friday, February 12, 2021 (RTTNews.com) - Shares of Mohawk Industries Inc. (MHK) touched a 52-week high of $178.19 Friday morning, after the company issued upbeat Q1 earnings outlook, while reporting better-than-expected Q4 results.

The stock is currently trading at $174.27, up $14.56 or 9.12%, with trading volume rising over 371K versus an average volume of 551K shares.

The company, on Thursday, reported fourth-quarter net income of $248.2 million or $3.50 per share, down from $264.7 million or $3.69 per share last year. Adjusted earnings were $3.54 per share, up from $2.25 per share last year. Net sales for the quarter were $2.64 billion, 9% higher than the previous year's sales of $2.42 billion.

Analysts polled by Thomson Reuters expected earnings of $2.87 per share on revenue of $2.49 billion for the quarter. Analysts' estimate typically exclude certain special items.

Looking forward to the first quarter, the company expects adjusted earnings in the range of $2.69 - $2.79 per share. Fourteen Wall Street analysts have a consensus earnings estimate of $2.11 per share for the quarter.

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