S&P 500 (NYSE:SPY) component Whirlpool Corporation (NYSE:WHR) reported its results for the second quarter. Whirlpool manufactures and markets appliances and products for home use. It makes washers, dryers, refrigerators, air conditioners, dishwashers, freezers, microwave ovens, ranges, trash compactors and air purifiers.
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Whirlpool Corporation Earnings Cheat Sheet
Results: Reported a profit of $113 million ($1.43 per diluted share) in the quarter. Whirlpool Corporation had a net loss of $161 million or a loss $2.10 per share in the year-earlier quarter.
Revenue: Fell 4.6% to $4.51 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Whirlpool Corporation reported adjusted net income of $1.55 per share. By that measure, the company fell short of mean estimate of $1.64 per share. It fell short of the average revenue estimate of $4.63 billion.
Revenue has fallen for the last three quarters in a row. In the first quarter, revenue declined 1.2% to $4.35 billion while the figure fell 2.6% in the fourth quarter of the last fiscal year from the year earlier.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of $1.41 versus a mean estimate of net income of $1.12 per share.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the third quarter has moved up from $1.53 a share to $1.56 over the last ninety days. The average estimate for the fiscal year is $6.44 per share, a rise from $6.05 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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