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Mohawk Industries profit misses consensus by 17.8% in fiscal Q2

Mohawk Industries Inc. said its normalized net income for the fiscal second quarter ended July 4 amounted to $2.15 per share, compared with the S&P Capital IQ consensus estimate of $2.62 per share.

EPS increased 17.9% year over year from $1.83.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $158.8 million, a gain of 18.7% from $133.8 million in the second quarter ended June 28, 2014.

The normalized profit margin climbed to 7.8% from 6.5% in the year-earlier period.

Total revenue totaled $2.04 billion, compared with $2.05 billion in the year-earlier period, and total operating expenses declined on an annual basis to $1.77 billion from $1.81 billion.

Reported net income increased 22.4% from the prior-year period to $186.6 million, or $2.53 per share, from $152.5 million, or $2.08 per share.