Whirlpool earnings beat estimates | 2019-07-24

Whirlpool earnings beat estimates

24 July, 2019 12:00 AM printer

NEW YORK: Whirlpool Corp on Monday reported better-than-expected quarterly earnings and lifted its full-year profit forecast, as the appliance maker raised prices on its washing machines and kitchen appliances to offset higher production costs.

Whirlpool has been wrestling with the impact of U.S. tariffs on imported steel and aluminum, both major components in its appliances, pushing the company to raise prices, report agencies.

Excluding items, the company earned US$4.01 per share for the second quarter ended June 30, above analysts' average estimate of US$3.71, according to IBES data from Refinitiv.

Sales rose 0.9per cent to US$5.19 billion, while analysts were expecting US$5.02 billion.