Whirlpool (WHR) revealed stronger year-over-year second-quarter sales and earnings on Friday and raised its full-year outlook as it recorded sales gains across its regions, including the previously battered North American and European markets.
The company, which also operates under the brands Maytag and KitchenAid, now sees fiscal 2013 non-GAAP earnings of $9.50 to $10 a share compared with an earlier range of $9.25 to $9.75, in-line with the consensus view of $9.75.
The washing machine manufacturer also said it recently resumed its share repurchase program.
Shares of Whirlpool climbed more than 5% to $125.65 in recent trade.
The world’s largest maker of home appliances reported net income of $198 million in the second quarter, or $2.44 a share, compared with a year-earlier profit of $113 million, or $1.43.
On an adjusted basis, Benton Harbor, Mich.-based Whirlpool said it earned $2.37, missing average analyst estimates in a Thomson Reuters poll by five pennies a share.
Sales climbed to $4.7 billion from $4.5 billion a year ago, fueled by increases across every region and volume growth. The Street had been calling for revenue of $4.67 billion.
“Our financial results reflect increased demand for our innovative products and continued benefits from our margin expansion actions,” Whirlpool CEO Jeff Fettig said in a statement.
Whirlpool said its margins expanded during the quarter, a reflection of both sales gains in Europe and the U.S., a signal of rebounding consumer confidence, and internal cost management.