Whirlpool Posts Higher Profit, Reduces Forecast

Earnings Reuters

Whirlpool Corp (WHR) on Tuesday posted a higher quarterly profit, lifted by increased sales of its washers and dryers, cooktops, stoves and refrigerators in North America and Europe.

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But the world's largest maker of home appliances lowered its full-year profit outlook, citing costs from its acquisitions of Indesit Company SpA and Hefei Rongshida Sanyo Electric Co Ltd.

Whirlpool said it expected to report full-year net earnings per diluted share of $9.40 to $9.90, down from a previous forecast range of $10.30 to $10.80.

The Benton Harbor, Michigan-based company posted a third-quarter profit of $230 million, or $2.88 a share, up from $196 million, or $2.42 a share, a year earlier.

Sales rose 2 percent to $4.8 billion. 

(Reporting by James B. Kelleher in Chicago; Editing by Lisa Von Ahn)