Whirlpool Earnings Beat Expectations, But Sales Fall Short
Whirlpool Corp. on Friday posted quarterly adjusted earnings that exceeded Wall Street's expectations, but sales fell short of its mark. The appliance maker's fourth-quarter net earnings were $180 million, or $2.28 a share, more than doubling from $81 million, or $1.02 a share, a year ago. Adjusted earnings came in at $4.10 a share. Sales were $5.56 billion, compared with $6 billion in the year-earlier period. Analysts were looking for adjusted earnings of $3.91 a share, on sales of $5.71 billion. Sales excluding the impact of currency increased 4%, Whirlpool said. The company expects full-year 2016 per-share earnings of $11.25 to $12, and adjusted earnings of $14 to $14.75 a share. Shares were inactive premarket.
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