Whirlpool misses 4Q profit forecasts
Benton Harbor — Whirlpool Corp. on Thursday reported fourth-quarter profit of $180 million.
The Benton Harbor-based company said it had profit of $2.36 per share. Earnings, adjusted for one-time gains and costs, came to $4.33 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.52 per share.
The maker of Maytag, KitchenAid and other appliances posted revenue of $5.66 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $5.58 billion.
For the year, the company reported profit of $888 million, or $11.50 per share. Revenue was reported as $20.72 billion.
Whirlpool expects full-year earnings in the range of $15.25 to $16.25 per share.
Whirlpool shares have risen roughly 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 3 percent. The stock has risen 43 percent in the last 12 months.