Whirlpool: 3Q Earnings Snapshot

BENTON HARBOR, Mich. (AP) _ Whirlpool Corp. (WHR) on Wednesday reported third-quarter net income of $210 million.

The Benton Harbor, Michigan-based company said it had net income of $3.22 per share. Earnings, adjusted for non-recurring costs, came to $4.55 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.68 per share.

The maker of Maytag, KitchenAid and other appliances posted revenue of $5.33 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $5.44 billion.

Whirlpool expects full-year earnings in the range of $14.50 to $14.80 per share.

Whirlpool shares have decreased 38 percent since the beginning of the year, while the Standard & Poor’s 500 index has dropped almost 1 percent. In the final minutes of trading on Wednesday, shares hit $104.13, a decline of 36 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WHR at https://www.zacks.com/ap/WHR

Categories: Business News