Whirlpool Sees Decline in Profits; Beats Estimates (WHR)
Home appliance company, Whirlpool Corporation(WHR) saw a decline in earnings, but beat analysts expectations on Wednesday.
The Benton Harbor, MI based company, reported Q4 earnings of $122 million, or $1.52 per share, down from $205 million, or $2.62 per share last year. Excluding special items, earnings were $2.29 per share, up from 32 cents per share last year. Analysts expected to see earnings of $2.23 per share.
Reported revenue for the quarter was $4.79 billion, down from $4.91 billion last year. Analysts estimated revenue of $4.88 billion.
Whirlpool sales in North America dropped -3% to $2.5 billion during the quarter, but was partially offset by a favorable product mix and prices.
Looking head, the company expects to see FY2013 earnings in the range of $9.80 to $10.30 per share. Excluding special items, the company is estimating EPS of $9.25 to $9.75. Analysts are looking to see EPS of $9.17.
Whirlpool shares were up $2.81, or 2.58% during Thursday morning trading. The stock has increased 105% in the past year.
The Bottom Line
Shares of Whirlpool Corporation(WHR) have a 1.78% yield, based on Thursday morning’s price of $112.21.
Whirlpool Corporation(WHR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability