Despite an overall drop in stocks on Friday, shares of Mohawk Industries jumped another $6.21 per share on Friday, or 3.14 percent, to close at a record high of $203.85 per share. The stock price gains Friday follow a report Thursday of record high second quarter earnings for the world’s largest floor covering firm.
The Calhoun, Ga.-based carpet and ceramic maker beat earnings expectations this spring with adjusted earnings of $2.69 per share, or 8 cents better than analysts forecasts. Company CEO Jeff Lorberbaum also said he expects better results in the second half of the year after realigning recently acquired businesses.
Mohawk shares are up nearly 31 percent so far this year and are up nearly 52 percent from a year ago.