Cut its financial forecast for the year and offered a weak forecast for 2015, citing integration costs related to recent acquisitions.
The world’s largest home-appliance manufacturer by sales said it now expects to close the year with a profit of $8 to $8.20 a share, down from $9.40 to $9.90 a share, largely due to the impact of new laundry products and costs associated to the integration of Italy’s Indesit Co. and Chinese home-appliances maker Hefei Rongshida Sanyo.
In 2015, Whirlpool said it expects to make $10.75 to $11.75 a share, including integration costs and a pension-settlement charge.
Analysts surveyed by Thomson Reuters projected a profit of $11.65 a share for 2014 and $14.50 for 2015.
company’s majority stakes in both companies mark its bold expansion in Europe and Asia. Whirlpool is expected to double sales in both markets.