Whirlpool 1Q profit falls short of expectations
Benton Harbor — Whirlpool’s first-quarter profit fell, missing analysts’ estimates, as a strong dollar weighed on sales.
For the period ended March 31, the appliance company said Tuesday that it earned $150 million, or $1.92 per share. A year earlier the Benton Harbor, Michigan-based company earned $191 million, or $2.38 per share.
Earnings, adjusted for restructuring costs and pretax expenses, were $2.63 per share. That’s below the $2.71 per share that analysts polled by Zacks Investment Research expected.
Revenue for the maker of Maytag, KitchenAid and other appliances fell to $4.62 billion from $4.85 billion, hurt by a strong dollar.
Whirlpool expects full-year adjusted earnings in a range of $14 to $14.75 per share. Analysts surveyed by FactSet predict $14.68 per share.