Whirlpool beats 2Q profit forecasts
Benton Harbor — Whirlpool Corp. on Wednesday reported second-quarter profit of $177 million.
The Benton Harbor, Michigan-based company said it had net income of $2.21 per share. Earnings, adjusted for one-time gains and costs, were $2.70 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.67 per share.
The maker of Maytag, KitchenAid and other appliances posted revenue of $5.21 billion in the period.
Whirlpool expects full-year earnings in the range of $12 to $13 per share.
Whirlpool shares have declined 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 3 percent. The stock has climbed 19 percent in the last 12 months.