Whirlpool Gains With Higher Prices Making Up for Tepid Sales

Whirlpool Corp., the owner of Maytag, rose in early trading Thursday after reporting better than expected earnings, and reaffirming its full-year sales forecast.The results show that things aren’t getting worse for Whirlpool, which also owns the KitchenAid brand. While net sales trailed projections, the company said it expects consumer sentiment to improve once the US presidential election is over.

Net sales were $3.99 billion in the three months ended Sept. 30, Whirlpool reported Wednesday. That compares with an estimate for $4.09 billion, according to the average of projections from Bloomberg. Adjusted earnings per share, however, beat expectations, helped by higher prices during promotional periods

Net sales will be about $16.9 billion this year, the company said. Whirlpool also reaffirmed its guidance for adjusted earnings per share.

Whirlpool shares rose 6.8% as of 9:36 a.m. in New York Thursday. The stock had dropped 18% this year through Wednesday’s close, as the S&P 500 Index gained more than 21%.

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