Whirlpool Corporation (WHR) Earnings Top Estimate, Outlook Falls Short

Shares were flat after the bell

Whirlpool Corporation (NYSE:WHR) reported on its latest quarter Wednesday, posting mixed results.

 Whirlpool Corporation (WHR)On the earnings front, the appliances manufacturer and distributor announced it brought in a bottom line of $392 million, or $4.10 per share, below the year-ago earnings of $431 million, or $4.33 per share. Analysts were calling for earnings of $3.93 per share, according to data compiled by Thomson Reuters.

Revenue for Whirlpool’s period was 0.7% better than a year ago at $5.7 billion for its fourth quarter. Net GAAP earnings came in at a lass of $268 million, due in part to a charge of about $420 million linked to the U.S. tax reform. A year ago, the company raked in $180 million in GAAP profit.

In North America, Whirlpool posted fourth-quarter net sales of $3.1 billion, which is in line with the year-ago total. Excluding the impact of currency, sales fell by 0.8%.

The company has been dealing with higher material costs that have cut into its profit, and it said back in October that it would deal with this issue by raising prices on future products. Whirlpool added that is forecasts an adjusted profit of $14.50 to $15.50 per share for fiscal 2018, below the $15.52 per share that analysts are calling for.

The appliances maker said earlier today that it will be adding 200 jobs in order to keep up with the current administration’s new tariff of up to 50% on large residential washing machines that are imported.

WHR stock was flat after the bell Wednesday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/01/whirlpool-corporation-whr/.

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