Whirlpool beats revenue estimates, raises full-year profit forecast
Reuters
Published Jul 22, 2019 04:49PM ET
Whirlpool earnings beat estimates as higher prices offset tariff impact
(Reuters) - Whirlpool Corp (N:WHR) on Monday reported better-than-expected quarterly earnings and lifted its full-year profit forecast, as the appliance maker raised prices on its washing machines and kitchen appliances to offset higher production costs.
Whirlpool has been wrestling with the impact of U.S. tariffs on imported steel and aluminum, both major components in its appliances, pushing the company to raise prices.
Excluding items, the company earned $4.01 per share for the second quarter ended June 30, above analysts' average estimate of $3.71, according to IBES data from Refinitiv.
Sales rose 0.9% to $5.19 billion, while analysts were expecting $5.02 billion.
The company raised its full-year adjusted earnings forecast to between $14.75 and $15.50 per share from its prior outlook of between $14 and $15 per share.
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Written By: Reuters
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