Shares of Mohawk Industries (NYSE: MHK) tumbled 5.35% in pre-market trading on Friday, following the company's disappointing fourth-quarter profit forecast. The Georgia-based flooring manufacturer's outlook fell short of analyst expectations, overshadowing its better-than-expected third-quarter results.

Mohawk projected fourth-quarter adjusted earnings per share between $1.90 and $2.00, significantly below the $2.14 per share analysts had estimated according to LSEG data. The company cited weak ceramic and flooring sales as the primary factors behind the lower forecast. This outlook has raised concerns among investors about the company's near-term growth prospects in the competitive flooring industry.

Despite the gloomy forecast, Mohawk's third-quarter performance showed some resilience. The company reported adjusted earnings per share of $2.67, surpassing analysts' expectations of $2.64. Revenue for the quarter came in at $2.76 billion, also beating the estimated $2.73 billion. However, these positive results were not enough to offset the negative impact of the weak forward guidance.

Mohawk's Chairman and CEO, Jeff Lorberbaum, acknowledged the challenging market conditions, noting that the results "reflected benefits from ongoing productivity and restructuring initiatives as well as the impact of favorable currency exchange and lower interest expense, offset by higher input costs and temporary plant shutdowns." The company has identified additional restructuring measures expected to generate about $32 million in annualized savings, bringing the total expected savings for the year to $110 million. Despite these efforts, investors seem concerned about the company's ability to navigate the current market headwinds effectively.