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Whirlpool Earnings: WHR Stock Surges as Q2 EPS, Sales Top Guidance

Whirlpool (NYSE:WHR) posted its latest quarterly earnings figures after hours Monday, raking in a profit that surpassed Wall Street’s guidance, while revenue did as well. WHR stock is on the up and up late today thanks to these figures.

Whirlpool Earnings
Source: Shutterstock

The Benton Harbor, Mich.-based business brought in adjusted earnings of $4.01 per share, which is roughly 30 cents per share higher than the Wall Street consensus outlook, per StreetInsider. Revenue was also a positive spot for the home appliances maker, tallying in at $5.2 billion, or $170 million stronger than analysts’ projection.

Whirlpool now sees its fiscal 2019 as bringing in adjusted earnings in the range of $14.75 to $15.50 per share, with the midpoint guidance of about $15.12 per share (rounding down) topping the Wall Street forecast of $14.81 per share. For the same period, it now projects to generate cash provided by operating activities at around $1.4 billion, as well as free cash flow in the ballpark of $800 million.

“We are pleased to have completed the sale of our Embraco compressor business and expect to repay a $1 billion term loan with those net proceeds,” said Jim Peters, Whirlpool CFO in the press release.

“As we strengthen our balance sheet, drive margin expansion and generate cash, we will maintain our disciplined approach to capital allocation with continued investments in our business and solid returns to our shareholders,” the boss added.

WHR stock is popping 5% after the bell. Shares had edged slightly higher during regular trading hours.

Article printed from InvestorPlace Media, https://investorplace.com/2019/07/whirlpool-earnings-whr-stock-2/.

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